Do you remember the wisdom bestowed upon Alice by the Cheshire cat?

Alice: "Would you tell me, please, which way I ought to go from here?"

Cheshire Cat: "That depends a good deal on where you want to get to."

Alice: "I don't much care where—"

Cheshire Cat: "Then it doesn't matter which way you go."

Lewis Carroll may not have realized it when he wrote Alice's Adventures in Wonderland in the year 1865, but he was writing wisdom that would be very relevant to the Bellingham real estate market in the year 2024 and beyond.

Last Thursday, I got this question from a friend who owns an adorable Bellingham home:

"Should I sell?"

In this blog post, I'm going to share the answer I gave her when we met up.

Let's dive in!

The Three-Part Decision Matrix

This friend of mine wants to move, primarily, to gain more privacy.

Her current house is tightly boxed in, with nosy neighbors watching every coming and going, and they generally aren't really "her people."

She's never really felt like she belongs there. Also, since she bought several years ago, she's gained a nice bit of equity in her property that will help with a substantial down payment on the next house.

And that has her asking, "Is now the time to sell?"

You know by now my immediate answer was, "It depends."

There are three primary factors that play into, or affect, a sale, and therefore the decision to do it or not.

1. The Market, and how it would "welcome" a sale of this property type-and-price profile right now. 

2. The Property, and whether it's ready for the type of sale and price the owner expects, right now.

3. The Person, and whether a sale puts her in the right position, when the dust settles.

Lets cover them one by one:

The Market for this particular property, at the price the owner occupant expects after looking at the data, would rank at about a 7 out of 10. 

There are two others "just like it" on the market that have not yet sold, so we would ideally need to undercut them on price, hoping to not trigger them to then undercut us in return.

There is an ideal demographic for this property profile that is not super active this time of year, related to the WWU college schedule. 

So, while the market *could* support a sale, it's not ideal.

The Property and its readiness for photos, followed closely by hitting the market, ranks about a 7 out of 10.

There is, of course, the general pack-up and paring down of personal stuff inside the unit, but that's nothing out of the ordinary. 

There is new flooring and paint, just installed, and it looks PRIMO!

But it's not 100% done -- there's still a bit to do and there is every reason to continue with that all the way to the finish line.

There is also a still-present stigma around nearby work being done related to freeze damage last winter, and that has not really settled out yet.

Again, we *could* press ahead and go for it if the need to be sold this fall was high, but it's not across-the-board ideal when we consider the property's readiness. 

The Person, and her "why" of the sale, is the third item -- and probably the most important -- that we want to carefully consider.

For this seller, the answer is about a 6 out of 10.

Certainly she is very clear that this property isn't her long-term basecamp.

She is emotionally ready to be in a better place.

What must be answered, though, is, "Do you have a clear plan on where you'll go next?" 

• Do you know what neighborhood, or even what state, you want to land in?

• Are you certain you'll buy again, or might you want to rent? 

• If you'll buy, do you know what you can afford? 

• If you'll rent, do you know what to expect for supply, location, and price? 

• If you can answer yes to those questions above, have you spent some time looking there?

• If you DO plan to buy, do you need to sell first in order to do that?

• Would the type of property you're looking for accept a contingent offer?

•  If not, do you have other resources to finance a purchase first and then sell?

• Are there places you can stay in between buying and selling? 

• Can you comfortably keep working "from home" if you move into intermediate housing?

When we really dug down into those questions, it became very clear, very quickly, that there was some valuable legwork to do before putting too much energy into prepping for a listing and sale.

Clarity is King

I have spent a massive amount of time thinking about and seeking clarity on some areas of life, business, health and otherwise lately.

I find it helpful and convenient that asking the questions of my clients to help them achieve clarity is a big part of my job as a Realtor.

The initial answer is almost always, "Yes of course we CAN do that thing."

But does that "Yes" require compromises that make the whole idea, the whole plan, maybe not the best thing for you, or for your property, in this particular market, in this overall situation, right now?

We will absolutely get my friend moved. 

When at least two of the three factors score something closer to a 10 than they currently are. 

Thanks for reading -- and considering -- this quick case study. 

If you’re considering the same question – or a variation of it – please reach out to me! 

I’d love to help talk you through the best path forward.

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