Real Estate News October 2022

END OF THE YEAR REAL ESTATE QUESTIONS

1) Can I still get my home sold and closed before the end of the year?
Yes, you can. An average escrow is now 30 to 45 days. So if you are under contract by mid
November and no later than December 1st, yes.

2) What are the best times remaining in 2022 to sell my home?
Normally the first two weeks in November and the first weeks in December are best.

3) Should I wait until after the first of the year to put my home on the market?
If you are ready to sell you don’t have to wait. There are fewer buyers creating less competition however only serious buyers are remaining.

4) Do I have to give a termite clearance when I sell my home?
No you don’t. It can be negotiated between buyer and seller, no termite. Most lenders (VA excepted) don’t require a termite completion.

5) Will home values likely go down?
With mortgage rates sky rocketing from 3% earlier this year to over 6% now the answer is yes. However homes are not like stocks and turn slowly. Think about the buyers who qualified to buy your home at 3% and now are not at 6%. High rates have
eliminated many buyers.

Does it matter who you work with? Yes! Put the Millman Team’s decades of experience to work for you. Don’t list with Ray and Jon unless you intend to move!