Wednesday, March 26, 2014
6 Seller Secrets For This Spring's Real Estate Market
Source: Forbes.com
Each year, it seems the housing market takes on a different tone – and whether it’s going to be a sellers’ market with inflated prices and bidding wars, or a buyers’ market with tons of choices and low prices – there’s no denying that the 2014 spring housing season is upon us. So what does it have in store? Well, if you’re thinking of listing your home, that’s an important question.
Here are 6 market insights that will give you a head start!
Right Now = A Great Time To Sell
The winter home selling season was crippled by the polar vortex, especially in the east and northeast, so there’s pent-up demand from buyers who’ve been waiting for better weather to brave the house hunt. Mortgage rates are still at historic lows, so buyers ARE poised to buy and ready to hit the streets.
Here are 6 market insights that will give you a head start!
Right Now = A Great Time To Sell
The winter home selling season was crippled by the polar vortex, especially in the east and northeast, so there’s pent-up demand from buyers who’ve been waiting for better weather to brave the house hunt. Mortgage rates are still at historic lows, so buyers ARE poised to buy and ready to hit the streets.
Know Your Numbers: 60%
Sixty percent of all homes in 2014 will be bought and sold from May to August. Putting your home on the market at the beginning of the selling season will help your chances of snagging a winning offer before buyers turn their attention back to school starting in September.
Price It Right
Many metros in the country have seen double-digit price increases in the past year. But this last quarter, prices started to slow nationally – and pricing is a critical component to getting your house sold. With this fluctuating market, you need to look at comps of similar homes in your area, and recentcy matters: make sure you’re looking back no more than 60 days. The sale price of homes that sold recently paints a much better picture of what to expect than the price of homes that sold six months ago (or of homes that have yet to sell).
Bidding Wars Aren’t Back (Phew!)
Bidding wars were common in the summer of 2013, but we’re hearing less about them right now. So don’t bank on fielding two or three offers at once. There is, however, a good chance that you’ll still get the one that will be a win/win for both you and the buyer.
It Pays To Be Ahead Of The Curve
Trying to get a jump on the competition? Right now we’re on the cusp of prime selling and buying season, and if you list soon, you’ll have less competition than you would if you put your house on the market in May or June, when more homes will flood the market. Since it’s still early, your home can have its ‘moment in the spotlight’ more than it will when inventory increases – and the buyers who are braving the cold to house shop are clearly motivated.
Make It Pop Off The Computer (Or Smartphone) Screen!
In this new mobile era, a huge percentage of buyers use smart phones (and Trulia’s top-rated apps) to start their home search online. And that percentage is expected to rise this year as more buyers take advantage of easy access to the wealth of information online. Get in on this trend by making sure your home pops on those computer screens. Great homes with mediocre quality photos will be quickly discarded and ultimately get less showings. Sellers should insist that their agent take the time to beef up their online listing so the quality of the home jumps off the screen and gets buyers’ attention.
Sixty percent of all homes in 2014 will be bought and sold from May to August. Putting your home on the market at the beginning of the selling season will help your chances of snagging a winning offer before buyers turn their attention back to school starting in September.
Price It Right
Many metros in the country have seen double-digit price increases in the past year. But this last quarter, prices started to slow nationally – and pricing is a critical component to getting your house sold. With this fluctuating market, you need to look at comps of similar homes in your area, and recentcy matters: make sure you’re looking back no more than 60 days. The sale price of homes that sold recently paints a much better picture of what to expect than the price of homes that sold six months ago (or of homes that have yet to sell).
Bidding Wars Aren’t Back (Phew!)
Bidding wars were common in the summer of 2013, but we’re hearing less about them right now. So don’t bank on fielding two or three offers at once. There is, however, a good chance that you’ll still get the one that will be a win/win for both you and the buyer.
It Pays To Be Ahead Of The Curve
Trying to get a jump on the competition? Right now we’re on the cusp of prime selling and buying season, and if you list soon, you’ll have less competition than you would if you put your house on the market in May or June, when more homes will flood the market. Since it’s still early, your home can have its ‘moment in the spotlight’ more than it will when inventory increases – and the buyers who are braving the cold to house shop are clearly motivated.
Make It Pop Off The Computer (Or Smartphone) Screen!
In this new mobile era, a huge percentage of buyers use smart phones (and Trulia’s top-rated apps) to start their home search online. And that percentage is expected to rise this year as more buyers take advantage of easy access to the wealth of information online. Get in on this trend by making sure your home pops on those computer screens. Great homes with mediocre quality photos will be quickly discarded and ultimately get less showings. Sellers should insist that their agent take the time to beef up their online listing so the quality of the home jumps off the screen and gets buyers’ attention.
Monday, March 10, 2014
9 Things To Ignore When House Hunting
Looking for a new home can be a challenge, especially when you walk into someone’s for-sale home and 20 years of their lives are on display. You have to really use your imagination to determine how you can that particular home ‘yours.’ Many people choose to remodel and stage their homes prior to putting it on the market, but then there are the vast majority of people who choose to sell their beloved home “as-is.”
While a turnkey home is ideal for people who want to move right in and make no changes, there are those “time warp” homes that are actually incredible gems that just need a little polishing.
As you step into each home on your house hunt, here are 9 things about a for-sale home that you should “try to ignore” as you search for your dream home.
An “Older” Home
Old isn’t always synonymous with bad. Some homes built decades ago have stood the test of time because they were built with solid, quality materials and have a classic style. Don’t always assume that new = nicer, either. Some newer homes are “affordable” because they were built cheaply. Remember that there are many simple fixes for dated homes, and the plus side of an older home is charm and character you can’t find in a brand new build.
Paint Colors
Ignore the existing paint choices and focus on the structure of the room, the placement of the windows, etc. Paint is an incredibly easy and a cheap fix in a home and something you can change in just a couple hours.
Wallpaper With Rosters And Chickens
While it may look like you are walking into a barnyard, remember that wallpaper is easily replaced or covered over. So no matter how designed challenged the walls seem to look – it’s an easy fix.
Kitchen Appliances And Accessories
The kitchen is the heart of the home and often, the appliances aren’t going to live up to your dreams. As long as you have room in your budget, or a timeline to replace the existing appliances, a seller’s yellow fridge shouldn’t be a deal breaker.
Ugly Carpet
Flooring options are getting more and more diverse and there are now so many low-cost options that look exactly like their higher-priced counterparts. Don’t walk away from a great house just because you’re not a fan of what you’d be walking on.
Funky Smells
Except for a serious mold problem, there’s nothing a deep cleaning can’t fix. Plug your nose and focus on the home’s bones and the potential it has when you give it your own touch.
Curb Appeal
If you’re not saying “wow” when you first drive up, that’s ok. Close your eyes and envision a different colored front door and some new landscaping, and presto – it might just be your dream home!
Popcorn Ceilings
It’s great at the movies, but not at home. No worries! A ceiling specialist can come in and have it all that scrapped off. Just make sure you have it done before you move in – it is a messy job.
No Privacy
If the house feels too exposed and lacks privacy from next door – you can fix that. Remember “hedges make great neighbors.”
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