Dave,
Our plans are to move in August/September to Oklahoma to be near family, as we have two grand children who live there. I will qualify for retirement late this summer and need to make sure we remain in Grand Junction until that time. We are aware that interest rates are still very attractive and our local market has been showing strong growth over the past few years. Our home is paid for, but we do not want to move twice in the process, if we can help it. How is our local real estate market doing overall and when should we start trying to sell as we do not wish to move twice, but want to move before winter hits next fall? Thanks for your insight.
Lew and Martha, Grand Junction
Lew and Martha,
Great to hear about the prospective move and moving closer to grandchildren, and other family members, is generally a big motivator for people who move after retirement. Our local real estate market is showing very nice gains and continues to maintain the momentum we have been building over the past several years.
We have seen significant price increases over the past several years and overall very positive things happening across all price ranges and things moving in a positive direction is a good thing! As I often say, “stability makes a great friend” and I expect our market to remain robust and stable with our long term outlook very bright. As always, the overall condition of your home, inside and out, and the price range of your home and how aggressively the home is marketed will help determine how quickly you can expect your home to sell.
As I am often asked to do, looking in my crystal ball can prove dangerous. Timing the sale of your home is one of the most difficult things to do in today’s real estate market, but the positive momentum we have had does make it easier for sure. In your case, I would suggest you have your real estate agent come over in late spring/early summer and perform a market analysis to help you evaluate when might be the best time to list your home for sale, based on market activity and the level of quality inventory. (I am assuming, in a world where we should assume nothing, that your home is move in ready) This evaluation, if done in a timely fashion, will also allow you to make any improvements needed prior to listing your home for sale.
Pricing is always key, but since you own your home free and clear you can price it competitively in the market and improve your chances for a quicker sale. If timing is more important than money, then all things being equal I would list it for sale no later than June 1. This would give you time to adjust your price if need be, prior to August, but if you did not have it sold by August would still allow time between August and October, after your retirement, to get it sold before winter sets in. The market is typically strong into October and some of our best months can be August and September! Be prepared to listen to the market and make adjustments when needed and you should have a successful transition. If you do get is sold early in the listing period, then this would also give you the opportunity to negotiate an extended closing date and potentially allow you to sell right around the time you wish to move. Be prepared to sell a bit early and find a short term place to land while, one of you moves to Montana a bit early. Several of the hotels offer attractive monthly rates in suites that are quite accommodating and have most of the luxuries you enjoy at home.
Have fun with it, go with the flow and make a plan and stick to it and you will remove much of the anticipated stress that can go hand-in-hand with this type of transition. I trust you will have a positive experience if you follow these recommendations. Best of luck in your future endeavors!
Dave Kimbrough
The Kimbrough Team
