Can I Sell and Move (Much) Later?

The short answer is yes, and it might just be the perfect time for that.

This is a question we receive more and more frequently as we come into summer against a back drop of rising interest rates and market uncertainty. Its undeniable we are still very much in a seller’s market. Inventory continues to decline; prices are still climbing higher.

What is unclear is how long it will last which has some sellers thinking about having the best of both worlds by timing the sale of a home at the top of the market, but waiting to move or purchase until later. Interestingly, these conversations aren’t primarily about realizing the biggest possible gain, although that’s certainly part of it, but being able to sell while the market is predictable and still be able to enjoy NoMi a little longer for very specific and personal reasons.

For example, one seller we talked to recently will be an empty nester next year and likes the idea of selling now but being able to postpone their move until after the last kid flies the coop. Another seller we have been working with would like to enjoy one last NoMi summer before retiring to a senior community in the fall. Still another is retiring and moving in 2023, she is a little nervous about what a market correction will mean for her retirement income.

It's tough to say when a market correction will happen and how significant it will be for our buyers and sellers. Usually when a market has shifted its easy to spot clues of a coming change in hindsight, but it’s very difficult to predict a shift. We think we are headed toward a normalization of the market, a settling with minor declines in pockets as we soft land. However there are some doomsdayers predicting a more impactful correction. Certainly, there are a number of would-be buyers hoping for exactly that.

The reality is we won’t know for sure until it happens. What we do know is that a continuing rise in interest rates will take some buyers out of the market and impact prices. Its simple economics and, oh by the way, one of the goals of increasing interest rates.

Everyone in the market, buyers and sellers alike, are uncertain about the future and the impact to their real estate goals. Buyers prefer to lock in an interest rate now versus a higher rate 6 months from now. Many have been beaten until bloody after banging their heads on the “highest and best” wall multiple times. Sellers prefer to sell when they know demand is strong versus rolling the dice and waiting.

This makes for an ideal time to match buyers who are willing to buy now but offer delayed occupancy with sellers who are willing to sell now but prefer to stay in the home a little longer. Over the last year, we matched a number of these sellers both on and off the market and we expect to do more this year than ever before. This type of real estate sales is an art and where we feel very blessed to be able to make a true difference for our clients. It requires the management of a sophisticated client database, pristine and high functioning lead management processes, and a team of people dedicated to reaching out on the daily to have conversations with potential clients to make the perfect match. The experience of your realtor in this conversation is critical and it is an area where Winslow Group differentiates itself.

Occasionally we have clients willing to sell but who don’t want to list. These clients are open to selling if we bring them an off-market buyer who matches their needs. We have successfully done this on many occasions and will do more, but it obviously requires more work (and luck) than going live with a listing with delayed occupancy and supporting it with a proven marketing plan.  Most often, the best way to make a match is still through a listing on the open market but one that is clear on the need for delayed occupancy.

Every situation is different and we would love to talk through your needs to see what we may be able to do to create a match made in heaven for you. Call us at 231-622-5076 or email us at info@winslowproperties.com to set up your consultation today.