The Modesto real estate market has been through lots of ups and downs over the last few years. In 2023 alone, there have been several rallies followed by price falls. If you’re thinking of selling your home, though, you may wonder if right now is your best option. How do you time the market, especially if you’re looking to work with a cash buyer? Is right now a good time to sell your Modesto home fast for cash?
Know the Market
One of the best first steps you can take is to understand exactly what’s happening in the real estate market in Modesto right now as a whole. You can do this with a few different online tools. It’s important to note that the more inventory that is currently on the market in your area, the more likely it is that you’re in a buyer’s market, which means the cash buyer for your home is less likely to negotiate with you. If there’s very little inventory at the moment, though, you’re in a seller’s market, and that puts you in a better negotiating position. To understand what the sales numbers are like in your area, you’ll just use one of the many online tools that offer a glimpse at the home inventory in your area. Divide the current number of homes on the market by the overall number of homes that have recorded sales in the last month. That should give you a result that helps you better understand the market. If it’s a fairly high result, anything above 7, you’re in a buyer’s market. Any number you get that is below five is a seller’s market.
Know Your Home
Beyond understanding the market, if you’re trying to sell your Modesto home fast for cash, it may help to better understand your home. Look at comparable home sales in Modesto for homes like yours (the same overall square footage, yard space, etc). Knowing what homes like yours are currently going for (and have been going for over the last three to six months) is a good indicator of whether or not the time to sell is right.
Think About Your Needs
Why are you looking to sell your home fast for cash? If you’ve just inherited a property you need to get rid of or you’re going through a big life change like a divorce or a job shift, it may not really matter whether now is the right time to sell in terms of the market. Instead, it may only matter that now is the right time to sell for you.
If, based on your own research, you know now is the right time to sell your Modesto home fast for cash, we can help. Contact us today to learn how you could close your home sale in the next two weeks.