It's a personal decision on whether one chooses to rent or sell their home, but we would like to discuss the reasons you may not wish to rent your home. Let's start with becoming a landlord for the first time.  

Becoming a landlord can come with a whole slew of challenging responsibilities. For one, you will still be responsible for repairs. Also, insurance, taxes, and advertising can become costly. Another factor is you will have little control over the people who live in your home. You may end up with tenants who don't pay on time or diminish the condition of your home that you have worked so hard to keep up. Even if you get the best of tenants, they will not care for your home the way you do. 

You could avoid these burdens associated with renting if you opt to sell instead. We know the selling process can be stressful, and there will be some effort required on your part, but when you sell, then that's the end of it. You won't have to deal with strangers living in your house who might be causing damage and thereby reducing the home's value. You also would not have the stress of answering your tenants' calls for maintenance and repairs. 

One of the central reasons people opt to sell their home is to generate enough cash to cover the down payment on their next property purchase. Having a more significant down payment gives you greater leverage to acquire the home you want in the area of your choosing. 

Take some time to consider your options and weigh the pros and cons of each side. Enlist the Linda Hall Team's help as we might be able to guide you with a better deal than what you expected going it alone. 

Let's dive even deeper than this. Let's begin by looking at a year over year comparison of specific real estate data that will help you understand the current market. Let's get started!

April New Listings:

We start by looking at April of 2017, where we see there were 467 NEW LISTINGS that came on the market in April. In April of 2018, we find an increase of +12.6 percent with 526 NEW LISTINGS. The following year in April of 2019, we increased slightly by +3.8 percent with 546 NEW LISTINGS.  

April Homes for Sale:

We again, start by looking at April of 2017, where we see there were 911 HOMES FOR SALE. In April of 2018, we find a decrease of -4.1 percent with 874 HOMES FOR SALE. The following year in April of 2019, we increased slightly by +1.8 percent with 890 HOMES FOR SALE.  

April Pending Sales:

Let's view April of 2017, where we see there were 372 PENDING SALES. In April of 2018, we increased by +18.8 percent with 442 PENDING SALES. The following year in April of 2019, we increased again by +9.3 percent with 483 PENDING SALES.  

April Median Days on Market:

Let's view April of 2017, where we see there were 17 MEDIAN DAYS ON MARKET. In April of 2018, we decreased by -11.8 percent with 15 MEDIAN DAYS ON MARKET. The following year in April of 2019, we increased by +13.3 percent to 17 MEDIAN DAYS ON MARKET, which was the same as April 2017.  

April Months Supply of Homes for Sale:

In April of 2017, the MONTHS SUPPLY OF HOMES FOR SALE was 2.7. In April of 2018, we decreased by -7.4 percent to 2.5 MONTHS SUPPLY OF HOMES FOR SALE. The following year in April of 2019, we stayed the same at 2.5 MONTHS SUPPLY OF HOMES FOR SALE.  

So there is your comprehensive LOCAL look at the real estate market. They say that May is the best time to list a home and if you are thinking about it then please reach out to the Linda Hall Team. We'd love to assist you!!

"Mortgage rates are now sitting at a six-week low," according to BankRate.com. When interest rates increase, families are forced to shelve their house buying plans. On the other hand, lower rates leave more room to negotiate for the dream home you have wanted to purchase. For home buyers, this is the optimal time to look for a more affordable mortgage plan without jeopardizing your financial future. 

However, if you think the market is in an upswing and want to wait for prices to come down, you may miss out on these incredible mortgage rates the market is offering today. Industry analysts do not expect a further fall in house pricing or financing in the immediate future. A shortage in both existing and new construction houses means that further price falls are unlikely. 

So again, if you have been considering leveling up in the size of your home or even downsizing this is a good time to do that. Today’s markets have some of the best rates in recent times. Don’t hesitate too long as rates won’t stay at their current levels forever. Asses your situation today to see how you might take advantage of these excellent rates and if you do not have someone to work with then the Linda Hall Team would like to recommend Liz Ciardi of PrimeLending, Charlotte, NC. She's the best!!

A decision to sell your home means you most likely are entering a competitive market where there may be other properties like yours with similar traits. It is crucial to put the time and effort into making your property stand out from the competition. Here are a few tips that will help you in that endeavor and please reach out to The Linda Hall Team to discuss this further. 

Start With The Little Things

Don't opt for significant renovations if you choose to sell your home. They can become a financial drain, and they may not add the value you might think. Instead, try to look into the little projects that can serve in making a great first impression. 

We all have projects that we have overlooked, and they can accumulate over the years. Maybe you have stepped over the cracked tile in the kitchen so many times that you don't even notice it or the wobbly doorknob leading to your bedroom. These are examples of things you have meant to fix but didn't get the time to do so. Let's attend to those little things first. 

Spring Cleaning in Summer!

Dirty homes are a considerable TURN OFF for buyers. When buyers first walk into your home, they see all areas of your home and a clean home will have a lasting impression because they will be able to envision themselves living there. A dirty house will most likely distract them and keep them from focusing on the main objective, and that is BUYING YOUR HOME if you can opt for a deep clean, if necessary. If you don't want a lowball offer, then going for a deep clean is a great option to make your property more appealing than your competitors.

Staging

No, we do not mean you have to pay someone to stage your home unless you want to. The Linda Hall Team can also give you advice on what you need to do to make your home most desirable to today's buyers. We know what they are looking for in their search for a home.

Summary

So you do not have to break the bank to make your house more appealing to buyers. Focusing on cleanliness, the small things and staging will go a long way in helping your home make a lasting impression with today's buyers. 

Try to put yourself in their shoes and walk through your home, looking for flaws and imperfections. Start checking them off the list and work with the Linda Hall Team and you will have offers lined up in no time!!

Real Estate Market Update For York County:

Let's dive even deeper than this. Let's begin by looking at a year over year comparison of specific real estate data that will help you understand the current market. Let's get started!

March New Listings:

We start by looking at March of 2017, where we see there were 467 NEW LISTINGS that came on the market in March. In March of 2018, we find an increase of +12.4 percent with 525 NEW LISTINGS. The following year in March of 2019, we increased slightly by +1.1 percent with 531 NEW LISTINGS.  

March Homes for Sale:

We again, start by looking at March of 2017, where we see there were 876 HOMES FOR SALE. In March of 2018, we find a slight decrease of -2.9 percent with 851 HOMES FOR SALE. The following year in March of 2019, we increased slightly by +2.5 percent with 872 HOMES FOR SALE.  

March Pending Sales:

Let's view March of 2017, where we see there were 397 PENDING SALES. In March of 2018, we slightly increased by +2.5 percent with 407 PENDING SALES. The following year in March of 2019, we increased again by +14 percent with 464 PENDING SALES.  

March Median Days on Market:

Let's view March of 2017, where we see there were 20 MEDIAN DAYS ON MARKET. In March of 2018, we decreased by -35 percent with 13 MEDIAN DAYS ON MARKET. The following year in March of 2019, we increased by +69.2 percent to 22 MEDIAN DAYS ON MARKET.  

March Months Supply of Homes for Sale:

In March of 2017, the MONTHS SUPPLY OF HOMES FOR SALE was 2.6. In March of 2018, we decreased by -3.8 percent to 2.5 MONTHS SUPPLY OF HOMES FOR SALE. The following year in March of 2019, we decreased once again by -4.0 percent to 2.4 MONTHS SUPPLY OF HOMES FOR SALE.  

So there is your comprehensive LOCAL look at the real estate market. They say that May is the best time to list a home and if you are thinking about it then please reach out to the Linda Hall Team. We'd love to assist you!!

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We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.