Selling your home to the buyer of school-aged children
Some homes are good for downsizers, some homes are good for vacationers. And then there are homes for buyers of school-aged children. If you’re planning to sell your home and believe it to be ideally located for a family who wants a good school system, the time to sell is now.
The buyer who needs to be in their new home by September 1st (for the start of the school year), is looking today. Think about it this way. It takes anywhere from 30 to 45 days to close on a house. That means you need to be under agreement between today and say the middle of July in order to close on time.
Here are a few pro-tips to keep in mind:
The Fair Housing Act
Do note: Fair Housing laws state that neither a real estate agent nor a home seller can market a home that excludes any potential buyer. In other words, you cannot segregate selling a home to only buyers of school-aged children. However, if your home appeals to one potential buyer pool (for instance a family that’s going to use one of our South Shore school systems) then make sure you highlight dates buyers can close and move in.
A quick update on the market pace.
You’re most likely hearing that the market has shifted. However much this is true, correctly priced homes are still selling. Conversely, the homes that aren’t selling are those with higher valuations than the market is willing to bear. That said, I believe price appreciation has stopped. One indicator is the cooling pace of the market compared to the brisk spring sales, but it is far from quiet.
Take advantage of this market.
When it comes to selling homes today, there are minor differences from what we experienced through the pandemic. One example is just months ago homes were selling inside of 10 days. Now, the time between the list date and the offer is more like 15 days. It’s really not the end of the world, and it’s certainly not the same scenario we saw in 2008, 2009, and 2010.
If you’ve got a house to sell – especially one that would be great for school-aged children – and you’re toying with putting it on the market, take advantage of the opportunity now.
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