Selling your home. Sellers dream of a smooth-sailing sale with the housing market trends constantly changing. Now that we’re jumping into the spring homebuying season, recent market trends appear promising. According to the National Association of Realtors (NAR), compared to February of last year, the median existing-home sale price was down 0.2% to $363,000. Apart from this, there is a 9.8% growth in house starts, providing more needed inventory, which indicates an optimistic future for the real estate market.
While there is a silver lining, several problems remain. We can expect high inflation, recession fears, steep interest rates, and others to continue. Considering all the good and the bad, knowing what steps to take as a seller increases your chances of success in the current real estate market. In today’s market, it’s really important to price your home well and make sure that it looks its best in order to get top dollar and find a buyer quickly. – Hannah Jones, economic research analyst at Realtor.com
Work with a Trusted and Proactive Realtor
Sure, you can sell your house alone, but it would take more time. Having a proactive realtor means they keep up to date with every listing, every buyer, and every seller, making planning for the next move a lot easier. Their vast knowledge of the constantly changing housing market trends paves the way for curating comprehensible plans for making a quick sale on your property in the most seamless way possible. Of course, working with a trusted realtor also means they field questions and offers from prospective buyers for you. As they have a great sense of working with trends, you can expect a competitive price for your house. In addition to this, they have the competency to determine the number of days your property sits on the market and make your property stand out.
Present your Home at its Best
Consider a pre-sale home inspection to determine problem areas. This gives you ample time to clean the house, renovate the essentials, and make necessary repairs before facilitating the sale. But this doesn’t necessarily mean you have to spend a lot of money on costly upgrades and repairs, as the goal here is to ensure you get a high return on your investment and not just to break even or lose money. So this is also where getting a trusted and proactive realtor comes in handy, as they can determine what to focus on since they have the knowledge of what people expect and value in your area.
Don’t forget about the importance of curb appeal, as it offers a chance at building a good first impression for your potential buyers. Enhancing your home’s curb appeal gives an idea of its value. Consequently, not paying attention to it can potentially drive down the perceived value of your home.
Invest in Staging your Home
In order to make your house look as inviting as possible, you need proper home staging. When done right, this can be an opportunity to increase its value and make a quicker sale. Decluttering, depersonalizing, and disengaging are important to ensure you do the staging process right. Doing these would give the best impression possible to your potential buyers, as a clean and inviting home makes them think of the space as theirs.
Take note that staging can range from simple decluttering to make the home less crowded to removing all furniture and gathering rented pieces to achieve a neutral look. Getting rid of excess furniture and personal belongings allows the buyers to picture themselves living there and not feel like they’re snooping into somebody else’s place.
Similar to making renovations, you don’t have to stage every room in your home. Identifying a few important parts can already boost its impression and make an impact. But the more time and attention you give to staging your home, the more you attract interested buyers, and the more chances there are for it to be sold faster.
Set a Reasonable Price
Providing a reasonable, competitive price is an important aspect of selling your home. Your goal is to get the house sold, right? In doing so, understanding the prices in your area and the several factors that affect the current market are essential in determining the value of your home. Setting the price too high can turn off potential buyers. Consequently, setting the price too low might indicate that something is wrong. You must also keep in mind that selling a home comes with negotiations and compromises. Learning to welcome these will make it easier for you to end up with a deal that is both favorable to you and your buyer. Again, working with a realtor is the way to go, as it gives you the peace of mind that you will be listing your house at the right price.
The Bottom Line
Selling a home isn’t a walk in the park. The market is constantly changing, and with it come both positive and negative trends that you can’t always control. But working with a trusted realtor, making necessary renovations, staging your home, and setting a reasonable price will help you reach your real estate goals. Although challenging, quickly adapting to the constant, unpredictable changes is beneficial for you. It is crucial that you learn about all the current trends so that you can use what you have to your advantage and leverage yourself in the real estate market.
What To Do:
Did you find this read interesting? Need expert and white glove advice? Get in touch with Steve Freeman for local and professional real estate advice in your neighborhood. Search for your Dream Home HERE!