Dream Team Realty
Dream Team Realty Jeff and Suellen Alker, Realtors



By: Jamie Wiebe
No matter how many fond memories you’ve accumulated in your home, there may come a time when you start wondering: Should I sell my place? Maybe it’s because your local real estate market is booming and you stand to score a sweet payout. Maybe you’re relocating. Or your expanding family has outgrown your space. Or you’re just looking for a change of scenery. But questioning is easy; deciding to put your house on the market is tough.
Here are some steps to help you pinpoint when the time is right.

How to calculate your home equity
A key variable in the decision on whether to sell your home is how much equity you’ve built up over the years. Home equity is the amount of money tied up in your house—what you’d receive if you sold it, minus what you owe on your mortgage.
So how do you calculate your home equity? You’ll need two numbers: the remaining balance on your mortgage and what your home is currently worth. You can get a ballpark of the latter by typing your address into realtor.com®’s home value estimator. For a more in-depth assessment, ask your real estate agent, who will do an analysis by checking comparables, or comps (the prices of recently sold, similar homes in your area), as well as other aspects of your home.
Here’s how this calculation looks with actual numbers: Let’s say you purchased your home for $300,000, but its market value has risen to $325,000. Let’s also assume that you’ve whittled down your mortgage over the years so that all you owe is $75,000. To get your home equity, subtract $75,000 from $325,000 and you have $250,000 in home equity, which is pretty sweet!
Of course, the more you owe on your mortgage and/or the more your home’s price has plummeted, the less home equity you have. If that number is much smaller or even negative (which can happen if housing prices plummet), consider holding off on selling until conditions improve.

Is it a seller’s or buyer’s market? Here’s how to tell
Another factor in deciding if it’s time to sell is whether you’re in a seller’s market. This essentially means that the demand for homes is outpacing the supply, which gives sellers more leverage during negotiations. To figure out if you’re in a seller’s market, browse through some listings and look for these two signs: houses are selling for over asking price, and homes aren’t sitting on the market for long (generally less than six months). If that describes your area, then it’s a great time to sell. (Just don’t forget that if you sell, you may also have to buy, which may present problems unless you’re leaving the area.)
On the other hand, if homes in your area are selling for under asking price and sitting over six months, that means you’re in a buyer’s market and that market forces aren’t working in your favor. This means if you want top dollar you may want to wait.

What’s up with interest rates on mortgages?
If you’re planning to sell your home and buy a new one, you should definitely consider interest rates on mortgages. Fortunately, right now, interest rates are at historic lows, hovering around 4%. That’s an astounding deal! In the ’80s, they were a whopping 17.48%—and while they probably won’t shoot up quite as high in the near future, we’re expecting them to move up by next year. Homeowners eager to upgrade to their dream home might want to grab them while they can.

Have your housing needs changed?
Market forces and interest rates aren’t the only things to keep in mind when deciding if you should sell your home. A lot has to do with you, and whether the house suits your space requirements. For instance: Is your current place too small now that you’ve been joined by a couple of kids—or is it too big now that your grown children have moved out on their own? Both scenarios are fine reasons to find a home that better suits your needs, so be sure to consider all of these factors in weighing whether the time is right to sell.

What our clients are saying  

Suellen was great to deal with! She was extremely knowledgeable and her organization caused the transaction to go smoothly and quickly! We had a wonderful experience.

 

~ MSprewell

I enjoyed working with Suellen, my home buying experience with very smooth. She was always honest and upfront, and never made me feel pressured just to get a sale.

 

~ S. Jones

Suellen worked with my husband and me for about six months helping us find our forever home on Lake Martin. We probably viewed fifty houses until we found it. She was always courteous and kind. She was never forceful or rude. I would recommend Team Alker to anyone.

 

~ E & J Wesson

Suellen got us a GREAT deal on the sale of our house -FULL PRICE! She also helped us buy our forever home at the same time. She was very professional, extremely helpful, and kept in constant communication with us throughout the entire process on both the sale and the purchase. We very highly recommend her to any prospective home buyers or sellers.

 

~ J. Strickland

My family really enjoyed working with both Jeff and Suellen. They were willing to meet us on our schedule which was a big help to us. They helped set up our utilities because lived out of town. I can't say enough about Team Alker!!!

 

~ M. & K. White

Suellen was so patient and helpful in our search for the perfect house on Lake Martin. She was readily available to answer any questions or show properties. We would definitely recommend Team Alker for any real estate needs!

 

~ D. & K. Greene

It was a delightful experience working with Suellen and Team Alker. My initial conversation was with Mr.Alker. He connected me with Mrs. Suellen Alker and she closed the deal! She was patient with me as a first time home buyer- specifically helping me to stay within my budget. Also,she worked tirelessly with me until we found the exact fit! I highly recommend Team Alker!

 

~ G. Dees

Team Alker was very helpful and stayed involved through entire purchase process. They answered all questions and followed through helping correct any problems with property. Very helpful putting us in contact with contractors in the area. We would highly recommend Team Alker and will use them again if we are on market.

 

~ E. & N. Ziebach

Suellen helped us in so many ways throughout our home buying process. We could not be more pleased with her willingness to help and provide insight. Communication was her strong suit and allowed us to rest easy knowing everything was being taken care of. We highly recommend using Suellen for your future home purchase!! She will not disappoint

 

~ C. Butts

Highly likely to recommend 05/02/2017 - karen anne reynolds Bought and sold a home in 2017 in Cherokee Bluffs, Dadeville, AL 36853. Local knowledge: 5 stars Process expertise: 5 stars Responsiveness: 5 stars Negotiation skills: 5 stars A great team who took the time to meet with us to understand our goals, advise on the market and costs, and just generally were great fun to work with. Full of energy, not only did they sell our condo in record time but also found us our next one!

 

~ K.A. Reynolds

Highly likely to recommend 5 stars 05/02/2017 - karen anne reynolds Bought and sold a home in 2017 in Cherokee Bluffs, Dadeville, AL 36853. Local knowledge: 5 stars Process expertise: 5 stars Responsiveness: 5 stars Negotiation skills: 5 stars A great team who took the time to meet with us to understand our goals, advise on the market and costs, and just generally were great fun to work with. Full of energy, not only did they sell our condo in record time but also found us our next one!

 

~ J. Cooper

Highly likely to recommend 01/27/2017 - fiets Bought a Single Family home in 2016 for approximately $375K in Alexander City, AL. Local knowledge: 5 Process expertise: 5 Responsiveness: 5 Negotiation skills: 5 Superb to work with. Very knowledgeable. They were very professional, answered all our questions. Very knowledgeable about realestate and all areas of Alex City. Even prayed for us at their church. Suellen was a godsend for us. The best real estate team in Alexander City Alabama

 

~ A. LeGrand

Jeff and Suellen Alker are dynamos. They are hard workers. They answer your phone calls and get right back to you. Even when they had the flu! If they don't have the answers right away they will tell you and estimate on when they will have one. They leave no stone unturned. They also are the nicest people you could ever meet. We developed a friendship quickly with them. They sold our condo and helped us buy our new home. We are very happy. We feel blessed we found them. David & Marianne Fuller

 

~ D. & M. Fuller

Local knowledge: 5 Process expertise: 5 Responsiveness: 5 Negotiation skills: 5 Suellen was wonderful from the beginning of the process. She kept me informed about every detail of my homes sale. From the day I met her I felt very comfortable with her professionalism but it seemed like we have known each other forever! I would highly recommend her and her husband for anyone looking to buy or sell a home.

 

~ S. Spear

Local knowledge: 5 Process expertise: 5 Responsiveness: 5 Negotiation skills: 5 Very pleased with all contacts with Jeff and Suellen. We are progressing well and I plan to use them when I purchase my new home. I have contacted Jeff so that he can show me a house I saw on Zillow and we are making an appointment to do so.

 

~ B. Sanders

Local knowledge: 5 Process expertise: 5 Responsiveness: 5 Negotiation skills: 5 Jeff went above and beyond by taking videos of the home for me. Since I am relocating I couldn't go see the property in person. Jeff even walked the woods behind the house to show me the entire property. He quickly got the answers to all my questions.

 

~ D. Randall

More Reviews

Want to Know How Much Your Home is Worth?

Get Your FREE Home Market Analysis Report Right Now!

YES, SHOW ME NOW