October 13, 2020
The only thing predictable about the real estate market in the Dallas area is that it is currently and likely to remain unpredictable. During what is an unprecedented time that defies description in general, the local real estate marketing, in particular, is inexplicably hot. More to the point, the real estate market in Dallas is a seller’s dream. An area real estate agent describes the current Dallas housing market as being at a ‘near frenzy,’ in D Magazine. This is good news for people wanting to sell their homes. Now is a Great Time to Sell Your Dallas-Area Home to Move to a Senior Living Community.
Norada, Real Estate blog, cites Dallas as “one of the nation’s hottest real estate markets.” Check out these statistics. In the spring, when the COVID-19 crisis was brewing, the housing market was already brisk. By late May, real estate professionals deemed it to be unlike anything they’ve ever experienced in their industry. Approximately 60% of the homes on the market were receiving multiple offers, and many homes were selling in less than two weeks and at a rate of 25% more than before the pandemic. The most recent reports indicate less than a three-month supply of homes for sale, which is well below what is considered a balanced market. That, in turn, translates to now being the ideal time to be a seller.
There are, of course, other considerations in deciding when to sell your home. Zillow, the premier online real estate database company, cited the most important factors in determining the best timing for listing your home. In addition to assessing the market, a vital consideration is mortgage rates. While this won’t impact you directly as a seller, a low mortgage rate means that the buyer will potentially save thousands of dollars over the life of a loan. This, in turn, means there’s potentially more money available for the buyer to spend and a strong motivation for them to buy…quickly. So good news for both a home buyer and, consequently, a home seller is that mortgage rates are at historically low levels.
The most critical factor in determining the right time to sell your home is your own readiness for a lifestyle change. This past year has been challenging. Aren’t you ready for an active and engaging, carefree lifestyle with no worries? Monticello West senior living community is the perfect answer with our abundant amenities, on-site access to essential services, and freedom from the chores of homeownership.
Furthermore, we’ll work with you to make things happen quickly. If your home is on the market, we offer a unique program allowing you to move into Monticello West before your house sells, with monthly payments deferred (specific parameters apply). Now is a Great Time to Sell Your Dallas-Area Home to Move to a Senior Living Community.
You’re invited to schedule a personal visit to explore all of your interests and needs and to see the aspects of our community that are most important to you!