Whether you’re selling Sanibel real estate or real estate elsewhere in the country, according to CNN Money, there are a few things you should know if you’re selling a home in 2016.
“It’s a sellers market.”
Home prices are continuing to increase and will do so into 2016. How much the prices will rise depends on the market you live in. It will be much easier to sell in regions with stable economies that seem to have a lucrative future–which is good news for Sanibel real estate. In some booming areas, there have even been bidding wars that result in sales prices above the asking price.
[button link=”https://homes.sanibelrealestatemarket.com/idx/search/advanced” target=”_blank”]Looking for Sanibel Real Estate? Search our MLS[/button]“Mortgages could get more expensive.”
While we experienced record low mortgage rates in 2015, there are speculations that mortgage rates will start to increase. So far, the minimal increase hasn’t been as drastic as some projected, but sellers should still prepare for an environment where buyers might have a little more trouble financing and less cash to spend.
“Tax benefits still favor home sales.”
If you sell a home, you could qualify for a tax break on capital gains for selling a personal residence. While there are certain limitations, such as needing to live in that home for at least 24 months in the past five years, there could be considerable tax incentives. You should always verify with an accountant or tax professional to learn the specific parameters and how you qualify.
“Get help at the right price.”
Whatever route you take when selling a home, it’s good for sellers to remember there are many complicated financial considerations involved. It’s important to make a plan and get the right kind of help ahead of time, so the selling process is smooth sailing rather than a huge headache.
Do you need help selling Sanibel real estate? Contact one of our knowledgable Sanibel realtors, or get in touch with our office at 239-272-2411, and we can help pair you with the Sanibel realtor that’s the right fit for you. If you’re interested in buying on the island, still contact us or a Sanibel realtor, or search our MLS for available properties.
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This article is provided by John R Wood Properties, a full service Sanibel Island real estate agency made of people who love where they live as much as what they do. With local knowledge and decades of combined experience, our Sanibel and Captiva Island realtors are passionate and dedicated to exceeding your real estate needs.
About the author: Nina Rogers is a writer, designer, and illustrator who grew up on Sanibel Island. As a Communications Content Manager for John R Wood Properties, Nina enjoys keeping people updated with the latest in local news and Sanibel real estate.
