Metro Detroit Real Estate BlogRecently posted or modified blog posts in the category - Selling Your Homehttps://www.dianeremer.com/blog/Copyright DianeRemer.com2023-02-06T08:23:16-07:00tag:dianeremer.com,2012-09-20:5651The Top Reasons for Selling Your Houseoriginal article by kcm
Many of today’s homeowners bought or refinanced their homes during the pandemic when mortgage rates were at history-making lows. Since rates doubled in 2022, some of those homeowners put their plans to move on hold, not wanting to lose the low mortgage rate they have on their current house. And while today’s rates have started coming down from last year’s peak, they’re still higher than they were a couple of years ago.
Today, 93% of outstanding mortgages have a rate at or below 6%. That means a strong majority of homeowners with mortgages have a rate below what they’d get if they moved right now. But if you’re a homeowner in that position, remember that mortgage rates aren’t the only thing to consider when making a move. Your mortgage rate is important, but there are plenty of reasons you may still need or want to move. RealTrends explains:
“Sellers who don’t have to move won’t be moving. The most common sellers will be: Homeowners downsizing . . . people moving to get more space, [households] looking for better schools…etc.”
So, if you’re on the fence about selling your house, consider the other reasons homeowners are choosing to make a move. A recent report from the National Association of Realtors (NAR) breaks down why homeowners have decided to sell over the past year:
<a href="https://files.mykcm.com/2023/02/02171323/homeowners-top-reasons-to-sell-MEM.png" rel="noopener noreferrer" class="use_kcm_lightbox" target="_blank"><img loading="lazy" class="aligncenter wp-image-107234" src="https://files.mykcm.com/2023/02/02171323/homeowners-top-reasons-to-sell-MEM.png" alt="The Top Reasons for Selling Your House | MyKCM" width="600" height="450" srcset="https://files.mykcm.com/2023/02/02171323/homeowners-top-reasons-to-sell-MEM.png 1000w, https://files.mykcm.com/2023/02/02171323/homeowners-top-reasons-to-sell-MEM-600x450.png 600w, https://files.mykcm.com/2023/02/02171323/homeowners-top-reasons-to-sell-MEM-768x576.png 768w, https://files.mykcm.com/2023/02/02171323/homeowners-top-reasons-to-sell-MEM-100x75.png 100w" sizes="(max-width: 600px) 100vw, 600px" /></a>
As the visual shows, the most commonly cited reasons for selling were the desire to move closer to loved ones, followed by moving due to retirement, and their neighborhood becoming less desirable. Additionally, the need for more space factored in, as did a change in household structure.
If you also find yourself wanting a change in location or needing space your current house just can’t provide, it may be time to sell.
What you want and need in a home can be reason enough to move. To find out what’s right for you, work with a trusted real estate professional who will offer <a href="https://www.mykcm.com/2023/01/05/3-best-practices-for-selling-your-house-this-year/" title="advice">advice</a> and expert guidance throughout the process. They’ll be able to lay out all your options – giving you what you need to make a confident decision.
Bottom Line
When deciding whether or not to move, you have a lot to consider. There are plenty of non-financial reasons to factor in. Let’s connect today to weigh the benefits of selling your house.2023-02-06T10:00:00-07:002023-02-06T08:23:16-07:00Diane Remertag:dianeremer.com,2012-09-20:5580Want to Sell Your House? Price it Right.
original article from kcm.
<img width="750" height="410" src="https://files.mykcm.com/2023/01/20114953/want-to-sell-your-house-price-it-right-KCM.jpg" class="attachment-entry size-entry wp-post-image" alt="Want To Sell Your House? Price It Right. | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2023/01/20114953/want-to-sell-your-house-price-it-right-KCM.jpg 750w, https://files.mykcm.com/2023/01/20114953/want-to-sell-your-house-price-it-right-KCM-600x328.jpg 600w, https://files.mykcm.com/2023/01/20114953/want-to-sell-your-house-price-it-right-KCM-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" />
Last year, the housing market slowed down in response to higher mortgage rates, and that had an impact on home prices. If you’re thinking of <a href="https://www.mykcm.com/2023/01/05/3-best-practices-for-selling-your-house-this-year/" title="selling">selling</a> your house soon, that means you’ll want to adjust your expectations accordingly. As realtor.com explains:
“. . . some of the more prominent pandemic trends have changed, so sellers might wish to adjust accordingly to get the best deal possible.”
In a more moderate market, how you price your house will make a big difference to not only your bottom line, but to how quickly your house could sell. And the reality is, homes priced right are still selling in today’s market.
Why Pricing Your House Appropriately Matters
Especially today, your asking price sends a message to potential buyers.
If it’s priced too low, you may leave money on the table or discourage buyers who may see a lower-than-expected price tag and wonder if that means something is wrong with the home.
If it’s priced too high, you run the risk of deterring buyers. When that happens, you may have to lower the price to try to reignite interest in your house when it sits on the market for a while. But be aware that a price drop can be seen as a red flag by some buyers who will wonder what that means about the home.
To avoid either headache, price it right from the start. A real estate professional knows how to determine that ideal asking price. They balance the value of homes in your neighborhood, current market trends, buyer demand, the condition of your house, and more to find the right price. This helps lead to stronger offers and a greater likelihood your house will sell quickly.
The visual below helps summarize the impact your asking price can have:
<a href="https://files.mykcm.com/2023/01/20114949/price-it-right-MEM.png" rel="noopener noreferrer" class="use_kcm_lightbox" target="_blank"><img loading="lazy" class="aligncenter wp-image-106994" src="https://files.mykcm.com/2023/01/20114949/price-it-right-MEM.png" alt="Want To Sell Your House? Price It Right. | MyKCM" width="600" height="338" srcset="https://files.mykcm.com/2023/01/20114949/price-it-right-MEM.png 1280w, https://files.mykcm.com/2023/01/20114949/price-it-right-MEM-600x338.png 600w, https://files.mykcm.com/2023/01/20114949/price-it-right-MEM-1024x576.png 1024w, https://files.mykcm.com/2023/01/20114949/price-it-right-MEM-768x432.png 768w, https://files.mykcm.com/2023/01/20114949/price-it-right-MEM-100x56.png 100w, https://files.mykcm.com/2023/01/20114949/price-it-right-MEM-1046x588.png 1046w" sizes="(max-width: 600px) 100vw, 600px" /></a>
Bottom Line
Homes that are priced at current market value are still selling. To make sure you price your house appropriately, maximize your sales potential, and minimize your hassle, let’s connect.
2023-01-23T10:00:00-07:002023-01-23T10:05:59-07:00Diane Remertag:dianeremer.com,2012-09-20:5423Ready To Sell? Today's Housing Supply Gives You Two Opportunities!Ready To Sell? Today’s Housing Supply Gives You Two Opportunities.
article from kcm
<br />At first glance, the increase in housing supply compared to last year may not sound like good news for prospective <a href="https://www.simplifyingthemarket.com/2022/11/16/top-questions-about-selling-your-home-this-winter/?a=913508-296eddd6ee82e93effebb8fe0f348908" title="sellers" target="_blank" rel="noopener noreferrer">sellers</a>, but it actually gives you two key opportunities in <a href="https://www.simplifyingthemarket.com/2022/11/22/what-homeowners-want-to-know-about-selling-in-todays-market/?a=913508-296eddd6ee82e93effebb8fe0f348908" title="today’s housing market" target="_blank" rel="noopener noreferrer">today’s housing market</a>.
An <a href="https://www.calculatedriskblog.com/2022/12/housing-december-12th-weekly-update.html" title="article" target="_blank" rel="noopener noreferrer">article</a> from Calculated Risk helps put the inventory gains the market has seen in 2022 into perspective by comparing it to recent years (see graph below). It shows supply has surpassed 2021 levels by 58%. But the further back you look, the more you’ll understand the bigger picture. And if you go all the way back to 2019, the last normal year in real estate, we’re roughly 35% below the <a href="https://www.simplifyingthemarket.com/2022/10/18/the-latest-on-supply-and-demand-in-housing/?a=913508-296eddd6ee82e93effebb8fe0f348908" title="housing supply" target="_blank" rel="noopener noreferrer">housing supply</a> we had at that time.
<a href="https://files.mykcm.com/2022/12/12132708/housing-supply-is-still-historically-low-MEM.png" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-106340" src="https://files.mykcm.com/2022/12/12132708/housing-supply-is-still-historically-low-MEM.png" alt="Ready To Sell? Today’s Housing Supply Gives You Two Opportunities. | MyKCM" width="600" height="450" /></a>
Opportunity #1: Take Advantage of More Options for Your Move
If your current house no longer <a href="https://www.simplifyingthemarket.com/2022/12/05/prioritizing-your-wants-and-needs-as-a-homebuyer-in-todays-market/?a=913508-296eddd6ee82e93effebb8fe0f348908" title="meets your needs" target="_blank" rel="noopener noreferrer">meets your needs</a> or lacks the space and features you want, this inventory growth gives you even more <a href="https://www.simplifyingthemarket.com/2022/11/28/your-house-could-be-the-1-item-on-a-homebuyers-wish-list-during-the-holidays/?a=913508-296eddd6ee82e93effebb8fe0f348908" title="opportunity to sell" target="_blank" rel="noopener noreferrer">opportunity to sell</a> and move into the home of your dreams. With more houses on the market, you’ll have more to choose from when you search for your next home.
Partnering with a local real estate professional can help you make sure you’re up to date on the homes available in your area. And when you do find the one, a professional can advise you on how to write a winning offer.
Opportunity #2: Sell While Inventory Is Still Low Overall
But again, despite the growth, inventory is still low compared to more normal years, and that isn’t going to change overnight. For you, that means your house should still be in demand among potential buyers if you price it right.
As an article from realtor.com <a href="https://www.realtor.com/research/weekly-housing-trends-view-data-week-sep-17-2022-2/" title="says" target="_blank" rel="noopener noreferrer">says</a>:
“Today’s shoppers generally have more homes to consider than last year’s shoppers did, but the market is still not back to pre-pandemic inventory levels.”
Bottom Line
If you’re a homeowner <a href="https://www.simplifyingthemarket.com/2022/11/02/sell-your-house-before-the-holidays/?a=913508-296eddd6ee82e93effebb8fe0f348908" title="looking to sell" target="_blank" rel="noopener noreferrer">looking to sell</a>, you have more homes to choose from and can still sell your house while inventory is low overall. Let’s connect to get started, so you can have the best of both worlds.
2022-12-14T09:15:00-07:002022-12-14T09:23:18-07:00Diane Remertag:dianeremer.com,2012-09-20:5212Sell Your House Before the Holidays
original article from KCM
<img src="https://assets.site-static.com/userfiles/2802/image/christmas_photo.jpg" width="393" height="271" style="float: right;" />
<article id="post-105453" class="post-105453 post type-post status-publish format-standard has-post-thumbnail hentry category-sellers category-move-up-buyers-buyers">
As you look ahead to the winter season, you’re likely making plans and thinking about what you want to achieve before the year ends. One of those key decision points could be whether or not you want to move this year. If the location or size of your current home no longer meets your needs, finding a house that better suits your lifestyle may be a top priority for you. But with today’s cooling housing market, is it really a good time to sell your house, or should you wait?
If you’re ready to make your decision, here are three reasons you may want to consider selling before the holidays.
1. Get One Step Ahead of Other Sellers
Typically, in the residential real estate market, homeowners are less likely to list their houses toward the end of the year. That’s because people get busy around the holidays and deprioritize selling their house until the start of the new year when their schedules and social calendars calm down.
Selling now, while other homeowners may hold off until after the holidays, can help your house stand out. Start the process with a real estate professional today so you can get your house on the market and get ahead of your competition.
2. Get in Front of Serious Buyers This Season
Even though housing supply has increased this year as buyer demand has moderated, it’s still low overall. That means there aren’t enough homes on the market today, especially as the millennial generation reaches their peak homebuying years. As Mark Fleming, Chief Economist at First American, says:
“While not the frenzy of 2021, the largest living generation, the Millennials, will continue to age into their prime home-buying years, creating a demographic tailwind for the housing market.”
Serious buyers will still be looking this winter and your house may be exactly what they’re searching for. If you work with an agent to list your house now, you’ll be able to get in front of the eager buyers who are hoping to make a move before the year ends.
3. Seize a Great Chance To Move Up
Don’t forget, today’s homeowners have record amounts of equity. According to CoreLogic, the average amount of equity per mortgage holder has climbed to almost $300,000. That’s an all-time high. That means the equity you have in your house right now could cover some, if not all, of a down payment on the home of your dreams.
And as you weigh the reasons to sell before winter, don’t lose sight of why you’re thinking about moving in the first place. Maybe it’s time to buy a house that’s in a better location for you, has the space you and your loved ones have been craving, or simply gives you that sense of home. A trusted real estate advisor can help you determine how much home equity you have and how you can use it to achieve your goal of making a move.
Bottom Line
If you’re thinking about selling your house so you can find a home that better suits your needs, don’t delay your plans. Let’s connect so you can accomplish your goals before winter.
</article>
2022-11-03T08:30:00-07:002022-11-03T08:47:38-07:00Diane Remertag:dianeremer.com,2012-09-20:5064Perspective Matters When Selling Your House Today
Perspective Matters When Selling Your House Today
original article by KCM, which can be found <a href="https://bit.ly/3rUaLHA">here</a>
Does the latest news about the housing market have you questioning your plans to sell your house? If so, perspective is key. Here are some of the ways a trusted real estate professional can explain the shift that’s happening today and why it’s still a sellers’ market even during the cooldown.
Fewer Homes for Sale than Pre-Pandemic
While the supply of homes available for sale has increased this year compared to last, we’re still nowhere near what’s considered a balanced market. A recent article from Calculated Risk helps put this year’s increased inventory into context (see graph below):
<img src="https://assets.site-static.com/userfiles/2802/image/20221013-MEM-Eng-1.png" width="755" height="566" />
It shows supply this year has surpassed 2021 levels by over 30%. But the further back you look, the more you’ll understand the big picture. Compared to 2020, we’re just barely above the level of inventory we saw then. And if you go all the way back to 2019, the last normal year in real estate, we’re roughly 40% below the housing supply we had at that time.
Why does this matter to you? When inventory is low, there is still demand for your house because there just aren’t enough homes available for sale.
Homes Are Still Selling Faster Than More Normal Years
And while homes aren’t selling as quickly as they did a few months ago, the average number of days on the market is still well below pre-pandemic norms – in large part because inventory is so low. The graph below uses data from the <a href="https://cdn.nar.realtor/sites/default/files/documents/2022-08-realtors-confidence-index-09-21-2022.pdf" title="Realtors’ Confidence Index" target="_blank" rel="noopener noreferrer">Realtors’ Confidence Index</a> by the National Association of Realtors (NAR) to illustrate this trend:
<img src="https://assets.site-static.com/userfiles/2802/image/20221013-MEM-Eng-2.png" width="740" height="555" />
As the graph shows, the pre-pandemic numbers (shown in blue) are higher than the numbers we saw during the pandemic (shown in green). That’s because the average days on the market started to decrease as homes sold at record pace during the pandemic. Most recently, due to the cooldown in the housing market, the average days on the market have started to tick back up slightly (shown in orange) but are still far below the pre-pandemic norm.
What does this mean for you? While it may not be as fast as it was a couple of months ago, homes are still selling much faster than they did in more normal, pre-pandemic years. And if you price it right, your home could still go under contract quickly.
Buyer Demand Has Moderated and Is Now in Line with More Typical Years
Buyer demand has softened this year in response to rising <a href="https://www.mykcm.com/2022/09/27/how-an-expert-can-help-you-understand-inflation-mortgage-rates/" title="mortgage rates">mortgage rates</a>. But again, perspective is key. Getting 3-5 offers like <a href="https://www.mykcm.com/2022/09/21/top-reasons-homeowners-are-selling-their-houses-right-now/" title="sellers">sellers</a> did during the pandemic isn’t the norm. The graph below uses <a href="https://cdn.nar.realtor/sites/default/files/documents/2022-08-realtors-confidence-index-09-21-2022.pdf" title="data" target="_blank" rel="noopener noreferrer">data</a> from NAR going back to 2018 to help tell the story of this shift over time (see graph below):
<img src="https://assets.site-static.com/userfiles/2802/image/20221013-MEM-Eng-3.png" width="755" height="578" />
Prior to the pandemic, it was typical for homes sold to see roughly 2-2.5 offers (shown in blue). As the market heated up during the pandemic, the average number of offers skyrocketed as record-low mortgage rates drove up demand (shown in green). But most recently, the number of offers on homes sold today (shown in orange) has started to return to pre-pandemic levels as the market cools from the frenzy.
What’s the takeaway for you? Buyer demand has moderated from the pandemic peak, but it hasn’t disappeared. The buyers are still out there, and if you <a href="https://www.mykcm.com/2022/08/09/selling-your-house-your-asking-price-matters-more-now-than-ever/" title="price your house">price your house</a> at current market value, you’ll still be able <a href="https://www.mykcm.com/2022/09/19/will-my-house-still-sell-in-todays-market/" title="sell your house">sell your house</a> today.
Bottom Line
If you have questions about selling your house in today’s housing market, let’s connect. That way you have context around what’s happening now, so you’re up to date on what you can expect when you’re ready to move.2022-10-13T12:30:00-07:002022-10-13T12:36:58-07:00Diane Remertag:dianeremer.com,2012-09-20:4502What stays with a house when you sell it — and what can you take with you?original article by Rae Hartley Beck can be found <a href="https://www.bankrate.com/real-estate/what-stays-with-house-when-you-sell/" target="_blank">here</a>.
Selling a house can be a tricky business. With real estate remaining hot in spite of recent interest rate hikes,<a href="https://www.bankrate.com/real-estate/how-fed-rate-hike-affects-housing/" data-linktype="contentInline" data-ctaposition="1"></a> sellers are still in the driver’s seat. But when it comes time to move out, they don’t exactly get free rein to take whatever they want. What can sellers bring with them to their next home, and what must stay behind for the new owners?
What must stay with a house when it’s sold?
Deciding what must stay with your home after it’s sold can be difficult. Some things are obvious — of course your furniture will come with you when you move — but what about the mailbox with your children’s handprints? Or the fancy showerhead in the master bath?
“As a general rule, if it’s attached and will require a tool to remove it, it stays,” says Edina, Minnesota–based Realtor Krista Forsberg, of the Forsberg Property Group with Keller Williams.
“It’s fairly common to see sellers who want to keep special window treatments or dining room chandeliers,” Forsberg says. If there’s something you specifically want or need to take with you to your next home, it’s smart to spell it out plainly in the sale contract — or better yet, remove it before you even list your home for sale. “It’s best for all parties to be specific in the purchase agreement about what they would like included or excluded, so there is no confusion when the sale closes.”
Here are some general rules of thumb for what needs to stay with a house when you sell it (unless otherwise specified in the contract):
<img src="https://www.bankrate.com/2022/06/13152050/BR_These_Items_Stay_Infographic.jpg" alt="These items stay with the house when you sell: Blinds, chandelier, oven, backyard swing set" />
Anything bolted down: Any item that is physically bolted down or permanently installed in the home should not leave it. Think things like major kitchen appliances, washers and dryers, cabinets, bathroom vanities and built-in bookshelves.
Light fixtures: It’s OK to bring that fancy chandelier with you — just switch it out for a different one before you start showing the home, or write it specifically into the sale agreement. There needs to be a working fixture in place — you can’t just leave electrical wires hanging out of a hole in the ceiling.
Window treatments: Blinds, shutters, shades, Levolors: All window treatments need to stay. Even curtain rods shouldn’t be removed. The curtains themselves are generally seen as OK to take, if they just slide off the rod, but it’s best to check with your Realtor first to make sure.
Landscaping: The rules apply to a home’s exterior, as well — your peach tree, raised garden bed and tulip bulbs all must stay behind unless otherwise stated. The strangest thing Forsberg has seen a seller exclude from a sale? Grandma’s peonies from the garden.
Outdoor fixtures anchored into the ground: Your gazebo, backyard swing set and basketball hoop may be the site of many family memories, but you can’t take them with you when you sell your home.
Often, buyers can be forgiving about items that hold sentimental value, but it’s best not to depend on that. When in doubt, ask your real estate agent — it can save you major headaches later on.
What happens if you take something that was supposed to stay?
If you take something that was considered part of the home, what happens next depends largely on your buyers. “It can be a surprise for buyers when they complete their final walk-through and an item that was expected to be there isn’t,” says Forsberg.
In this situation, hopefully the item can be returned or an agreement can be reached wherein the seller compensates the buyer for the missing item. But taking something you were supposed to leave might delay your closing or, worst-case scenario, even lead to a lawsuit. Don’t risk the potentially biggest transaction of your life for the sake of an item that’s easily replaced.
What else can you leave?
When you turn over your keys at closing, the home should be effectively empty. Passing things on to the next owner that you think could be useful might seem like a nice way to pay it forward, but always double check with your Realtor first. You want to make extra-sure that the items won’t be considered trash. If stuff is left there that should have been cleared away, there might even be legal implications.
That said, with your agent’s OK, things like appliance manuals, extra light bulbs for oddly shaped light fixtures, extra pieces of tile and cans of paint, or additional HVAC filters might be welcomed by the new owners. It might also be a thoughtful gesture to leave some toilet paper and soap in at least one bathroom.
Bottom line
When in doubt about whether or not you can take something along when you sell your home, always ask your agent. They can communicate with the buyer’s agent and work out an agreement in advance. If there’s something that you desperately want to take with you, it’s best to get that excluded from the sale as soon as possible. Don’t wait until your buyer’s final walk-through to find out you have to ship those curtains back across the country so your sale can close!2022-06-16T10:17:00-07:002022-06-16T10:17:54-07:00Diane Remertag:dianeremer.com,2012-09-20:4454Thinking about selling your home? This may be the timeThe orginal article by Anna Bahney can be found <a href="https://www.cnn.com/2022/05/17/homes/us-real-estate-home-seller/index.html">here</a>.
Home prices are at record highs and still rising, but there are<a href="https://www.cnn.com/2022/04/07/homes/us-real-estate-bubble-homebuyers/index.html" target="_blank"> s</a>ome early indications that the market may be starting to cool. For sellers looking to get top dollar for their home, the time to sell is now.
But homeowners are still holding back from listing their homes, said Jeff Tucker, senior economist at Zillow. While the inventory of homes for sale has ticked up this spring, he said it has more to do with buyers retreating than a flood of new homes hitting the market.
"Sellers don't seem to be particularly incentivized by these higher prices, or even about how April and May is the best time to list the house for a quick sale that gets a high price premium," Tucker said.
The main reason that homeowners aren't flocking to the market to cash in, he said, is simply because they still need a place to live. "They worry, quite reasonably, that they would need to pay a lot to find another place as good or better."
Many would-be sellers are waiting for the right moment to strike, said Tracey Murray Kupferberg, an agent with Douglas Elliman in Long Island, New York.
"A lot of people are saying, 'Am I making a mistake in waiting because I'm never going to get that dream price again?' There is this fear they might miss the peak," Kupferberg said.
But there is reason to believe that peak could be now.
<img src="https://assets.site-static.com/userfiles/2802/image/getting-ready-to-sell-your-house_pic.jpg" width="1024" height="681" />
Signs the market is cooling
It is impossible to time the market exactly, but many analysts expect home prices to peak this quarter.
"It is likely the pace of price appreciation will peak some time this quarter, either in April, May or June," said Tucker. "That will be the high water mark for annual pace of appreciation, then it will decelerate."
Signs that the market will start to cool can be found across the market. Mortgage rates, which have increased at the fastest rate in decades this year, are now over 5% and are expected to keep rising. The more expensive it is to finance a home, the less purchasing power buyers have and many give up if they can't afford a house that fits their needs. That, in turn, can lead to less competition and some price easing.
In addition, there's been a five consecutive months of declines in pending home sales, as well as a drop in newly constructed single-family sales, according to the National Association of Realtors. That means fewer people have been willing or able to buy. And the share of listed homes with price cuts has been increasing over the past two months, according to Realtor.com.
The average profits made on selling a median-priced single-family home dipped in the first quarter, according to Attom, a real estate data company. While profit margins often decrease during the slower winter months, the latest dip marked the first quarterly decline since the fourth quarter of 2019 and the largest since the first quarter of 2011.
"Some sellers really made out over the past two years," said Kupferberg. "Some buyers did, too. It was a win-win then, with rising prices and really low mortgage rates. Now it is different."
She said sellers can often be slow to recalibrate after the market shifts, still expecting their home will sell in days with manic bidding wars.
"Prices are going to top out," she said. "Then it takes a while for sellers to realize they have to lower their price. This pool of buyers can't afford the home because the cost of borrowing has gone up."
<img src="https://assets.site-static.com/userfiles/2802/image/real_estate_blog_pic.jpg" width="553" height="327" />
In need of a quick sale
Lotte Vonk was on the fence about selling her home, mostly because she wasn't sure where her family would go.
Vonk knew that when her second child arrives in a few months, space in her suburban Chicago townhome would get tighter. But she couldn't find many homes on the market that seemed to be a good fit, plus home prices and mortgage rates just kept rising. Still, like many would-be sellers, she knew that if she and her husband didn't sell soon, they'd miss getting the highest price for their home.
"We were very aware of the rising interest rates," she said. "We were thinking we should sell this house and buy now, or renovate so we can stay."
Even as they considered expanding the three-bedroom townhouse where they live with their toddler, a dog and cat, they still eyed new listings on the market.
Earlier this month they found the perfect five-bedroom house in a nearby suburb. Once their bid was accepted, they raced to put their home on the market in a week. They couldn't afford carrying both homes, so the offer to buy the new home was contingent on the sale of their current home by mid-May.
They listed their home for $315,000 last week and have already had more than 20 viewings, but no viable offers.
"Everything I know about the market has told me that the houses should be flying off the shelves," said Vonk. "When things are not selling it is either the price or the product. It was a gut rehab a few years ago, I know it isn't the product. So it must be the price."
They are going to reduce the price and see if that brings in a buyer in time.
"I don't want to lose out on the house I love," Vonk said. But she added that she's willing to sell her home for a little less than her dream price, just to be able to buy her next home.
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Staying put, for now
When Kupferberg, the agent in Long Island, visited a potential seller's home recently she told the owners it would sell fast, even if it did need a little work.
The three-level home with five bedrooms, a pool, and a tennis court was becoming too much to manage for the empty-nesters and Kupferberg knew it would be appealing to buyers willing to pay top dollar.
Still, the couple wavered on the decision to sell or stay put.
"They don't want to miss the mark, they know their house would sell right away," said. "But if they take the leap right now, where will they live?"
Kupferberg said she doesn't have easy answers. Many of her would-be clients are homeowners with a large home who would like to downsize, but also want to stay in the community near their grown children or grandchildren, where their church or synagogue is, close enough to go to the same doctor. There aren't many options.
"I don't know what to tell people who want to sell but don't have anywhere to go," she said. "Unless they have another home or have a relative to stay with so they can benefit from what we're seeing at the tail end of the selling market."
Kupferberg said this particular couple was looking for a single-floor home in a vibrant, upscale gated community, but there were few options and not immediately appealing to them.
"There is nothing that is really meeting their needs," she said. "They have nowhere to go if they sell, so for now they are staying put."
2022-06-06T08:33:00-07:002022-06-06T08:32:51-07:00Diane Remertag:dianeremer.com,2012-09-20:4317A 12-Step Guide for Selling Your Homeclick <a href="https://www.tapinto.net/towns/nutley/sections/real-estate/articles/a-12-step-guide-for-selling-your-home">"here"</a> to read the original article by Matt Carson
<img src="https://assets.site-static.com/userfiles/2802/image/sell-house_image_for_blog.jpg" width="650" height="351" />
So, you've decided to sell your house—now what? There are many steps involved, and the whole process can sometimes seem confusing, even overwhelming. Well, we're here to help. While each home sale can be just a little different, there are a few things that they will have in common.
We've put together a handy guide to walk you through this journey from start to finish, to make selling your home a smooth and potentially more lucrative experience. Let's dive in.
Step 1: Speak with a Real Estate Agent
The first step should be to contact a local real estate agent. This could be the one who sold you your house in the first place, or one that's recommended to you by friends or family members. The real estate agent will be instrumental throughout this process, so make sure it's someone you trust who has a proven track record. Once you've decided which agent to work with, they become your "listing agent," who will be your representative during this process.
Set up a time and place to meet and discuss your situation, your goals and overall strategy. The real estate agent will work with you to create the listing for your home that will encourage potential buyers to give your house a look.
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Step 2: Make a Plan for Repairs
Depending on the current state of your home, the next few steps may come easily. If you're home is in tip-top condition, the amount you need to do here may be minimal. If your home is in need of repairs, however, you might consider acting on these steps before contacting your listing agent. In either case, go through your house room by room with a critical eye and a notepad.
Imagine that you are a potential buyer making a walk-through for the very first time. Are there any things that might raise a red flag? Cracks in the walls? Uneven or damaged floors? Old kitchen appliances?
Make a note of all these things, then prioritize the order that you want to fix them. If your listing agent is onboard at this time, definitely get their feedback. They will have a wealth of knowledge on how to go about checking these things off the list.
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Step 3: The Exterior
A good place to start is to take a look at your home from the street level–curb appeal is essential. What does a potential buyer see when they pull up? The exterior of your house is your chance to make a first impression, so focus on the details.
Make sure you don't have cracks in the paint or foundation, that the roof is in good order and your landscaping and lawn are both neat and tidy. Give buyers that reason to say yes as soon as they arrive with an exterior that inspires love at first sight.
Step 4: Update the Kitchen
If you have already moved out of the home when it starts showing on the market, most of it will be empty space. One of the places that buyers will naturally gravitate towards is the kitchen since it will be partially furnished already. This is your chance to really hook them by creating a space a buyer can imagine themselves using.
Pay particular attention to your cabinets, countertops and sink. You might also consider updating your kitchen appliances as your home goes on the market. It's an extra investment up front, but you might be able to increase your overall asking price if buyers walk into a beautiful, modernized kitchen.
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Step 5: Refresh Interior Spaces
This step is two-fold, but they go together: walls and floors. If you have carpet or wood floors, you'll want to take a look at what shape they are in before you start hosting walk-throughs. Do they look worn or faded in any places? If you have tile in your foyer, kitchens or bathrooms, are there cracks or gaps? If the answer is yes to any of these, it's possible you'll need to repair or replace flooring.
Then, do the same thing for the walls. See if there are any small touchups you can make to them, such as filling in nail holes with spackle. A fresh coat of paint is one of the cheapest and most cost-effective ways to give interior spaces new life. Sometimes even painting a single 'accent' wall a different color can add a new dimension to the room with minimal effort.
Step 6: Don't Forget the Backyard
If your home has an outdoor living space, it can be a big selling point. You don't have to have an elaborate deck, gazebo or pool to pull this off, or even a large backyard. Just make good use of the area that's available and aim for a cozy space where buyers could unwind or entertain.
Families are often looking for yard space for their pets, so they'll be looking at the condition of the fence and any side gates. Others might look at places to have a cookout, plant a garden or place a tool shed. Definitely keep the grass and any trees neatly trimmed. Like the kitchen, you'll want buyers to imagine themselves living in that space.
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Step 7: Set the Stage
Once you've worked through all your repairs and your house is ready to show, take one more pass through it to make sure everything is ready. The bathrooms and showers should all be spotless, all the trash should be gone, and floors should be swept and/or vacuumed. In addition, you should declutter your space and remove photos and personal décor. Give the buyer a blank slate to visualize themselves living in the house.
If you've already moved out of the house, this might be simple. If you are still living in the house, you'll want to take extra care that your furniture and décor are all in their proper place. Also make sure you dust and that all laundry is put away. It's the little things like that that can be the difference between a win and a missed sale. You really are putting on a show for the buyer, so give some thought on how you can set the stage for success.
Step 8: Research Your Price
Once your house is ready to show, you’ll need to know its current value, which would include any of the additions or updates you made to get it to this point. One of the easiest ways to get an estimate is to use Guaranteed Rate’s <a rel="sponsored" href="https://homevaluation.rate.com/">h</a>ome evaluation report. Your real estate agent is another good resource. They will have insight into how much homes are selling for in your neighborhood, along with what they think your house could reasonably sell for in their professional experience.
It's best to have a range in mind with your dream offer at the top and the lowest offer that you'll consider at the bottom. If you need a second opinion, you can always order an appraisal from a third party to make sure that the price that you are setting is as accurate to the current market as possible.
Step 9: Put Your Home on the Market
All the way back at Step 1, we mentioned your home's listing. By now, you and your real estate agent should have plenty of material to create what is, essentially, an advertisement to bring potential buyers to your door. Photos of the property are a critical part of the listing, so be sure to take the time to get them right.
Also, don’t forget to mention any and all improvements that you've made along the way. You never know what little detail, such as a recently replaced water heater, will pique interest in your home or be the difference between a buyer choosing your property over another one.
Again, this is where your real estate agent can really shine. Listen to them closely, because presenting real estate in a positive light is—quite literally—what they do for a living.
Once your listing goes live, you should start receiving requests for potential buyers to come by and tour your home.
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Step 10: Consider Offers
Settle in, because this step might go either fast or slow depending on the housing market in your area. Whether you get an instant flood of offers or a slow trickle, you'll want to consider each offer carefully. While it can be tempting to take the first offer that meets your requirements, there may be more to the situation than that. Does the buyer want your house so that they can flip it, or is it a family looking to buy their first home? Those are all factors that might come into play before you make your decision.
If, for some reason, you don't get any solid offers on your home, it may be worth your time to revisit the previous steps on this list to make sure everything is working as it should.
Step 11: Accept the Right Offer
You're almost there. Once the right offer comes along, and you accept, it's not quite over. There may be a back-and-forth dialogue between you and the buyer. They will hire an inspector to come and take a look at every aspect of your house from the foundation to the duct work. This is the moment you've prepared for since the beginning, and why so much of this list is about getting your home ready.
Your real estate agent will act as the go-between in most cases. Keep in mind that buyers are looking for the best deal possible, too, so try to be patient with them as you work through their conditions. Remember, though, that as the seller, you are the one who is ultimately in the driver's seat.
Step 12: Closing Expectations
This is the finish line for this particular journey. Once the buyers close on the house, they become the new owners. Unless you have negotiated a leaseback from the buyer to stay in the house after closing, it's recommended that you be completely moved out by the day they sign all the paperwork. This will allow the new owners the chance for a final walk-through.
Once the new owners have closed on the house, you should receive the amount you agreed upon, usually by wire transfer. This can take a few business days to process, so don't worry if you don't see the money in your account immediately.
With that, you've successfully sold your home! As you can see, a lot of what determines a successful home sell is in the preparation, before your house ever goes on the market, so there's no time like now to get started.
2022-05-13T13:00:00-07:002022-05-13T12:58:18-07:00Diane Remertag:dianeremer.com,2012-09-20:4122Sell Now or Wait a Year? This Is What Home Sellers Should Do to Turn a Rich Profit
original article by Maurie Backman can be found <a href="https://www.nasdaq.com/articles/sell-now-or-wait-a-year-this-is-what-home-sellers-should-do-to-turn-a-rich-profit">here</a>
As we get deeper into spring, you may start toying with the idea of selling your home. Spring is typically when housing inventory increases, and it's a good time to sell from a buyer interest and curb appeal standpoint.
But this year, in particular, it really pays to list your home now as opposed to waiting. Here's why.
You don't want to delay
Today's housing market is pretty much as good as it gets for sellers. And that's why it pays to move forward with a listing now, as opposed to waiting a few months or a year to see how things shake out.
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In January, home prices were up over 19% on an annual basis, as per the S&P CoreLogic Case-Shiller Index. Meanwhile, the housing market is still starved for inventory. And while we could see a boom over the next few months, as of mid-April, the supply of available homes for sale is quite low.
That sets the stage for a world of profit for sellers with properties to unload. So, if you've been thinking of selling your home, or if you're a real estate investor<a href="https://www.fool.com/investing/stock-market/market-sectors/real-estate-investing/?utm_source=nasdaq&utm_medium=feed&utm_campaign=article&referring_guid=1cbc800d-30fe-4eab-a49a-90be36b0373f" target="_blank"></a> looking to get rid of an income property, now's the time to act.
If you wait too long to sell your home, you'll give the real estate market time to cool off. The result? A lower sale price, which isn't what you want.
Also, with housing inventory being so low right now, there's a good chance your home will wind up in a bidding war if you list it soon. That's likely to result in -- you guessed it -- a higher offer.
Don't wait for mortgage rates to keep rising
Another good reason to sell your home now and not wait? Mortgage rates have been rising sharply for the past few months, and recently, the average 30-year loan rose above the 5% mark.
If borrowing rates keep climbing (which is likely to happen as the Federal Reserve moves forward with planned rate hikes), buyer demand is apt to wane. Once that happens, home values should start to come down -- so it's best to list your home before mortgages become prohibitively expensive.
Act now
All told, it's clearly a seller's market, but whether that will be the case later this year or a year from now is yet to be determined. If you've been thinking of selling your home, it pays to act quickly rather than run the risk of market conditions deteriorating from a seller's perspective.
To be clear, there's no need to sound an alarm about a full-blown housing market crash. Rather, it's just that right now, sellers have a prime opportunity to cash in on big profits, so that's a route it pays to take.
The only reason to hesitate in selling a home is if you're worried about affording a replacement property. If you're selling and downsizing or dumping an income property, this shouldn't be a concern. If you're hoping to upsize, however, now's clearly not the best time, so keep that in mind before moving forward with a listing.
2022-05-02T11:25:00-07:002022-05-02T11:24:54-07:00Diane Remertag:dianeremer.com,2012-09-20:34409 Things Home Sellers Do During the Holidays That Scare Off BuyersOriginal article from Janet Siroto can be found <a href="https://www.realtor.com/advice/sell/things-home-sellers-do-during-holidays-that-turn-off-buyers/">here</a>.
Once upon a time, the month of December was a snow-swept dead zone for <a href="https://www.realtor.com/sell" target="_blank" rel="noopener noreferrer">selling your home</a>. The thinking was, “Why even bother showing it? No one is home shopping now.”
Fast-forward to today’s full-boil real-estate market, however, and this traditional home-selling timeline has changed. Even amid the holiday hubbub, people are house hunting in earnest. So if your house is for sale now, yes, you should be hosting open houses, home showings, and more.
Still, selling your home during the holidays does come with some complications. For one: your holiday decor. According to real estate agents we spoke to, many homeowners are so zealous with their Christmas lights, tree, and other adornments, they could stop certain homebuyers in their tracks.
Curious what holiday home-selling no-no’s you should avoid? Check out some things agents see below that make them cringe, and drive away perfectly viable buyers.
1. Inflatables on your lawn
“Avoid lawn inflatables during the holiday when selling a home,” urges Deni Supplee, founder at <a href="https://sparkrental.com/" rel="noopener noreferrer">SparkRental.com</a> in Hatboro, PA.
Need we explain why?
Fine, here goes: “It makes for bad curb appeal,” Supplee says simply.
And that’s if your inflatables look perfect, which they very often do not.
As Supplee puts it, “It’s particularly bad when they are partially deflated and just lying there on the lawn.”
2. Holiday decor overload
Some folks (you know who you are) embrace displaying a crazy over-abundance of lights, shiny baubles, nutcrackers, and needlepoint pillows. And that’s just fine if you aren’t selling your house. If you are, it’s time to trim back your Yuletide enthusiasm a bit.
“If you choose to display holiday decor, keep it simple and classy,” says Erin Dunlap, a Denver-area real estate agent who specializes in fixing and flipping homes and blogs about it at <a href="https://listinprogress.com/" rel="noopener noreferrer">List in Progress</a>.
For example, “Buy a fresh pine wreath for the front door. Stick with white lights.”
3. Heavily scented candles
“A big turn-off, especially during the holiday season, is over-scenting a property,” says Leda Broxson, a leading real estate agent with <a href="https://spearsgroupfl.com/agent/leda-broxson" rel="noopener noreferrer">Spears Group</a> in Destin, FL.
You may love pine and gingerbread atomizers and candles, but not everyone wants to be walloped over the head with the smell of sappy or spicy fragrance.
“It’s always better to have neutral scent for the properties, in order to leave the best impression for potential home buyers,” Broxson says.
4. A too huge tree
A Christmas tree is fine to put up when selling a home. The one rule of thumb agents stand by, though, is that it should fit appropriately in your space.
Don’t squeeze a massive conifer into a cramped corner. Why? Because this will make your whole space look too small, which is not a good takeaway to leave with homebuyers. They’ll also have trouble imagining what the space looks like without the tree.
5. Highly religious items
You may love putting out Grandma’s nativity scene or hanging a “Jesus is the reason for the season” banner.
But Joshua Blackburn, founder and director of design and construction, <a href="https://evolvinghome.co/" rel="noopener noreferrer">Evolving Home</a> in Cleveland, TX, counsels: “Keep the holiday paraphernalia to a minimum, especially those with overtly religious themes.”
Your goal is to have your home look a little festive, but basically to be a blank slate for a prospective homebuyer, regardless of their religion or degree of faith.
6. Personalized stockings and ornaments
“When the holidays come around, people tend to add things like personalized stockings and ornaments, plus Christmas cards on display,” says Brittany Hovsepian, owner of <a href="http://www.theexperthomebuyers.com/" rel="noopener noreferrer">The Expert Home Buyers</a> in Augusta, GA. “These really distract from the buyers being able to imagine themselves in the home.”
7. A chilly temperature indoors
“Jack Frost nipping at your nose” sounds cute in a song, but in real estate? It’s a big no-no to keep the thermostat low to save money.
“Frugality is a virtue, but not when you’re trying to sell your home,” says G. Brian Davis, co-founder of <a href="https://sparkrental.com/landlord-app/" rel="noopener noreferrer">SparkRental.com</a>. “Turn up the heat when you have showings, so the house feels warm, cozy, inviting, and energy-efficient. The last impression you want to give is a drafty house.”
8. Overly restricted home-showing hours
“O, come, all ye buyers” is the tune to sing. Don’t limit showings to a tiny window, like Tuesday mornings, over the holidays.
“Sellers who place their homes on the market but put significant restrictions on showings will end up with a longer time on the market,” says Bruce Ailion, Esq<a href="http://www.locationlocationlocation.com/" rel="noopener noreferrer">.</a>, a real estate executive at <a href="https://www.locationlocationlocation.com/" rel="noopener noreferrer">Re/Max Town and Country</a> in Alpharetta, GA. “This leads to the dread impression that a home has been sitting and is undesirable or unsellable. Today, more than ever, homes are judged by the time on the market.”
So if you have a packed calendar or crew of houseguests descending, and you’re worried about your listing going stale in the meantime, you may want to skip putting your house on the market until the New Year.
9. Listing photos showing holiday decor—after the holidays
While listing photos showing a Christmas tree or other holiday decor are fine and dandy before the holidays, make sure they come down once the holidays are over.
After all, “If your home doesn’t sell quickly, you don’t want a Christmas tree in the listing’s living rooms photos in June,” points out Ashlei De Souza, licensed associate real estate broker at <a href="https://www.serhant.com/people/103/ashlei-de-souza" rel="noopener noreferrer">Serhant</a> in New York City and host of “Staged,” an original web YouTube series.
Ideally, she says, “Have listing photographs taken before the decorations go up.”
And if you just can’t muster up the energy to perfectly deck the halls, don’t worry!
“Too many times, sellers believe they need perfect holiday decor done before they can show their home, so they don’t look like a Scrooge,” says Chantay Bridges, a certified negotiation expert and senior real estate specialist at <a href="https://chantayclarkbridges.exprealty.com/" rel="noopener noreferrer">EXP Realty</a> in Southern California.
Not true!
“It’s OK not to have a single twinkle light up,” she says. “Most buyers are looking at a place that will meet the needs of their family, whether it’s location, schools, or size. Whether or not you having a tree adorned with presents won’t be their deciding factor.“
2021-12-15T09:12:00-07:002021-12-15T09:22:01-07:00Diane Remertag:dianeremer.com,2012-09-20:3000The New Normal of Selling a Home Today, Explained Link to full article by Erica Sweenry is <a href="https://www.realtor.com/advice/sell/the-new-normal-of-selling-a-home-today-explained/">here</a>!
If you’re selling your home right now—or thinking about doing it soon—you should know that today’s housing market is unlike anything we’ve seen or experienced lately, maybe ever.
In the past, home sellers might have waited weeks or months to get an offer that might not be as high as they’d hoped. Buyers may have lowballed, or driven a hard bargain asking sellers to make certain repairs or other concessions before closing the deal.
Today, however, many of these realities are no more: In many areas of the country, homes are getting snapped up fast, sometimes within days of going on the market. Buyers mired in bidding wars are pushing their offers over asking price, and often waiving inspections and other demands to sweeten their offer.
In general, this is all good news for sellers—but it also means that it’s more important than ever to understand the market and play your cards carefully to fetch the best offer and terms for you. Here’s what sellers need to know about the real estate landscape today.
How the COVID-19 pandemic is affecting the housing market today
The COVID-19 pandemic has changed so much of our lives, and real estate is no exception.
“We’ve all been through a hopefully once-in-a-lifetime experience that dramatically changed the way we lived, worked, and went about our daily lives,” says <a href="http://realtor.com/" rel="noopener noreferrer">Realtor.com</a> Chief Economist Danielle Hale. “Even as we move forward and get back to living the way we used to, it’s likely that these experiences will stick with us and shape the way we make decisions for years into the future.”
For one, pandemic lockdowns made many people realize that their current living spaces just aren’t working for them anymore.
“One of the major motivations of homebuyers is the desire to have a larger, more functional home,” says Jason Gelios, a real estate agent with Community Choice Realty in Southeastern Michigan.
This is particularly true for people who started working remotely during the pandemic—who, after cramming their desks into dining rooms, “cloffices,” and other corners, are ready to upgrade to a bigger house so they can work at home with more privacy and comfort.
“This allows for people who are permanently remote-working to be more productive in their home,” explains Gelios.
And since remote workers may no longer need to commute to the office often or at all, many are now house hunting in areas that they hadn’t previously considered.
“With remote work flexibility becoming the new normal, buyers sought out areas like South Florida where they could enjoy the outdoors, extra space, and the tax benefits that come with living here,” says Chad Carroll with The Carroll Group at Compass, in South Florida.
Home inventory is low
Although buyers are out in droves, there are many fewer homes on the market than usual—which is creating a highly competitive market for buyers nationwide.
“Sellers are benefiting from the historically <a href="https://www.realtor.com/news/real-estate-news/pending-home-sales-rise-but-low-inventory-could-cause-headaches-for-buyers/" target="_blank" rel="noopener noreferrer">low inventory</a> levels and record demand,” Carroll says. “This combination has fueled bidding wars and led to properties going under contract at an insane velocity.”
These low-inventory conditions may improve somewhat over the next year. But Hale warns, “the market is so out of balance that even with improvement, the number of homes for sale will remain low.”
Home prices are high
With fewer homes and high demand for them, many sellers are seeing multiple offers that, in turn, are driving up prices.
“The ongoing increase in housing prices makes it a great time for a home seller to cash out on their homes now,” says Beatrice de Jong, consumer trends expert at online real estate transaction company Opendoor.
Often, buyers are making offers above the listing price.
“Faced with few homes available for sale, buyers intent on owning are pulling out all the stops,” says Hale.
However, this highly beneficial market for sellers comes with a big caveat if selling means you’ll need to buy a new home yourself.
“Sellers searching for their next home will face the same fierce competition,” warns de Jong.
What’s more, home prices are seeing some early signs of leveling off—or at least not be rising at the breakneck pace of the past. So if you want to sell at the top of the market, it may pay to list sooner rather than later.
Interest rates are at record lows
Even though home prices are high, mortgage <a href="https://www.realtor.com/news/trends/fed-raise-rates-in-2023-affect-todays-housing-market/" target="_blank" rel="noopener noreferrer">interest rates</a> have hit record lows. And since even a <a href="https://themortgagereports.com/51755/should-i-refinance-for-quarter-percent-lower-refinance-rates#:~:text=For%20example%2C%20dropping%20your%20rate,in%20your%20monthly%20mortgage%20payment." rel="noopener noreferrer">1% lower interest rate</a> could lower monthly mortgage payments by up to 20%, it make homes more affordable for buyers, which is driving them into this competitive market.
“While the cost of a home is on the higher side, the cost to obtain the financing is much lower and oftentimes offsets the higher price, spurring a huge demand for buyers to go out and shop for homes,” Gelios says.
It’s a seller’s market
“There are many ways to define a seller’s market,” says Hale. “But a few key hallmarks are limited availability of homes for sale, fast-selling homes, <a href="https://www.realtor.com/news/trends/how-much-do-sellers-expect-their-homes-to-fetch/" target="_blank" rel="noopener noreferrer">rising home prices</a>, and competitive buyer offers such as offers over asking price, waiving contingencies, and flexible closing terms.”
All that said, most buyers are looking for a new home because it’s the right time for them—not because of market conditions.
“They’re getting married, moving in with a partner, expanding their family or planning to do so,” Hale explains.
And the same wisdom applies to deciding whether to sell your house: Even though market conditions are in your favor, you should make sure it’s the right time to sell your house for you. Weigh your own personal circumstances, including any current or upcoming life changes such as a new job, retirement, the arrival or departure of family members within the home, and more.
2021-08-18T08:31:00-07:002021-08-18T10:08:38-07:00Diane Remertag:dianeremer.com,2012-09-20:2732Four Emerging Real Estate Trend
4 Emerging Real Estate Trends
April 9, 2021 <a href="https://magazine.realtor/author/melissa-dittmann-tracey" data-di-id="di-id-a7ef6be8-5c2d4e36" style="font-size: 17px;">Melissa Dittmann Tracey</a> <a href="https://magazine.realtor/daily-news/2021/04/09/4-emerging-real-estate-trends">link here</a>
The COVID-19 pandemic has caused a mass disruption to the way people live and work and prompted sweeping economic fallout felt throughout the world. Global leaders are still coming to grips with the long-term impact to the real estate industry.
COVID-19 has accelerated many existing trends, including digitalization, dispersed working, and online shopping, panelists said at a webinar on Wednesday highlighting the Urban Land Institute’s newly released “Emerging Trends in Real Estate Global Outlook 2021” report.
“The industry leaders canvassed for Global Emerging Trends are hopeful of a consumer-spending-led economic recovery feeding through an uptick in real estate business in the second half of 2021,” the report notes. “But much will depend on the rollout of the vaccine and an easing of lockdown restrictions.”
The Asia Pacific region appears to be leading the recovery globally compared with many Western economies, researchers note. That has prompted more global investors to increase their allocations of capital to the region. But the U.S. is also posting growth to many of its real estate sectors and seeing some evolve to better compete in the post-pandemic world.
Here are a few of the trends highlighted in ULI’s report that are on the radar for global real estate markets:
Real estate continues to attract capital. Low interest rates are fueling interest in real estate across the globe. “Most industry leaders interviewed for this report believe the inherent attraction of real estate income is even stronger this year than in pre-COVID times,” according to the ULI report. Favorable supply-demand dynamics have led investors to increase their allocation to residential markets, a trend that has only been accelerated by the COVID-19 outbreak, the report notes.
Unknowns loom for the office sector. The office sector, however, is more difficult for real estate leaders to predict. The rise of remote working, the increasing concern for the health and wellbeing of employees, and the lessening appeal of long commutes in big cities could negatively impact leasing activity this year and next year. Many large firms could delay corporate decisions on office space, or commit to a greater reliance on remote working. Many real estate leaders do predict employees will eventually return to the office, even if in more of a “hybrid” working model. One area of growth for the office sector: flexible space. (Read more: <a href="https://magazine.realtor/daily-news/2021/03/24/co-working-spaces-may-soon-see-a-surge-in-activity" target="_blank" data-di-id="di-id-181226c3-29ee158d">Co-Working Spaces May Soon See a Surge in Activity</a>) “Industry leaders predict a polarization between perceived high-quality buildings—modern and adaptable—and outdated and inflexible secondary stock that is likely to suffer from a marked decline in demand,” the report notes.
ESG tops more agendas. The impact of carbon emissions from the built environment remains a pressing issue for more companies, and they’re placing a greater emphasis on environmental, social, and governance agendas. “Though decarbonization and climate change have been rising up the agenda for years, it is only in the past 18 months that these issues have moved to the foreground of the industry’s thinking,” the ULI report notes. “So far, the pressure is coming from the providers of finance and the biggest tenants. There is, though, the expectation that governments will ramp up regulation in the coming years.” More companies are showing a greater focus on putting into place strategies with decarbonization and realizing the consequences of carbon emissions from their buildings.
Re-imagined retail. The physical brick-and-mortar retail sector has faced the increasing threat of online competition—even more so since the pandemic. But investors are not shying away from seeking out new opportunities in retail, particularly as they view some falling prices in the sector. As such, retail could be acquired and repositioned either as more usable retail formats or re-envisioned as something completely different, such as residential or urban logistics.
The following is a chart of the top issues for real estate in 2021 for the United States, according to real estate leaders surveyed by ULI.
<img typeof="foaf:Image" src="https://magazine.realtor/sites/default/files/styles/asset_image_full_content/public/assets/images/2104_ULI_US%20chart.png?itok=HC-rRdCV" width="568" height="875" alt="A graph showing many of the important issues facing real estate in 2021." />
<img typeof="foaf:Image" src="https://magazine.realtor/sites/default/files/styles/asset_image_full_content/public/assets/images/2104_ULI_topcities.png?itok=ksMKFjpK" width="555" height="444" alt="A list of the top cities for real estate investment in 2021." />
2021-05-06T10:36:00-07:002021-05-06T10:39:21-07:00Diane Remertag:dianeremer.com,2012-09-20:2702With Far Fewer Houses, Michigan's Real Estate Market is 'Absolutely Crazy'
Article written by Paula Gardner from Bridge MI link <a href="https://www.bridgemi.com/business-watch/far-fewer-houses-michigans-real-estate-market-absolutely-crazy">here</a>
Thinking about buying a house in Michigan this spring?
Here’s some advice: Stop listening to your parents, grandparents or friends who tell you that paying list price will always be too much.
And get ready to compete with other buyers – probably a lot of them – who will start writing offers within hours of a home hitting the market.
Michigan’s housing market may be the most competitive in history, with double-digit sale price increases as home listings across the state plummeted 54 percent in January from a year earlier. It’s more severe than the <a href="https://fred.stlouisfed.org/series/ACTLISCOUUS">national listing decline,</a> which reached 42 percent over the same period and set a new record.
With fewer homes available for sale, low interest rates are still attracting buyers. That’s creating sales scenarios in communities across Michigan that are “absolutely crazy,” said Karen Kage, CEO of Realcomp, the state’s largest real estate data service.
Multiple offers over list prices used to be reserved for the state’s hottest markets. Now prices are climbing all over the state, from Warren and Madison Heights in metro Detroit to Allegan County on the west side, to communities in Northern Michigan where<a href="https://www.bridgemi.com/business-watch/coronavirus-kept-us-home-igniting-real-estate-frenzy-northern-michigan"> last summer’s wave of frustrated shoppers </a>hasn’t abated.
The rare seller may get more for a house than planned. And home shoppers are learning quickly that this is a market of fast decisions and compromises on some “must-haves.”
“Buyers are having to lose out on a couple of houses before they fully understand what’s going on,” said Haden Block, an agent at RE/MAX First in Royal Oak, who describes the market changes as “exponential.”
Hayden Block of RE/MAX First in Royal Oak calls the market changes “exponential.” (Courtesy photo)
“They know it’s competitive, but they don’t know to what level,” Block said.
When Stephanie Young started to look for a house in January with her husband, Chris, she said the couple thought they were ready to pounce quickly. They’d saved enough for a down payment so they wouldn’t need to make their offer contingent on the sale of their condo. And they knew exactly what area of Rochester Hills was likely to have homes in their price range.
The first thing she learned was that the listing price was just a baseline for anticipated offers.
The Youngs thought that starting with a fixer-upper in the middle of their price range would be a good option, before they learned that the eventual purchase price would leave no money for renovations.
“When I looked at the list price, I just added $10,000 every time,” Young said. “You have to do that, or you’re not going to get that house.”
They also had to expand their search area to the boundaries of Rochester Hills and be willing to dial back some requirements, like four bedrooms, an upstairs laundry and 2.5-car garage. There just weren’t enough options in their initial searches.
With their new strategic outlook, they made an offer at the very top of their price range, going $10,000 over list price.
Their Realtor, Al Block, Haden Block’s father, soon called with bad news.
Al Block of RE/MAX First in Royal Oak helped the Young’s craft an offer that worked.
“He got a text saying, ‘Al, your clients aren’t even in the ballpark,’” Young recalls.
Climbing prices
Houses in Michigan are getting more expensive as more buyers compete: The average sales price climbed 13 percent in 2020 from a year earlier, according to statewide data on residential homes from the 42 regional listing boards comprising the Michigan Association of Realtors.
Feeding that average were several regions that saw average gains of 20 percent or more, including the Big Rapids area, where the average home price shot up from $140,738 to $230,447.
Other large gains were made in:
Emmet County, 35 percent
Detroit, 29 percent
Southwest Michigan, 25 percent.
Gaylord area, 27 percent
Mason and Oceana Counties, 21 percent
According to the statewide data from the Realtor association, the only annual declines were in Genesee County (-1 percent) and Montcalm County (-32 percent). Yet December totals show that Genesee sales were up 17 percent that month, while transactions from 2019 seemed to have distorted the Montcalm average.
The price data represents sales though the Realtor boards, not all home sales. There also can be some overlap in the sales calculations, in which more than one regional listing board reports prices in some communities. However, the figures are an indication of what’s happening in the state, real estate industry experts said.
The rising prices reflect “a strong housing market,” said Robert Dye, chief economist at Comerica Bank, with home sales reaching levels not seen since 2006.
Michigan’s tax collections reflect the price increases: So far this fiscal year, real estate tax collections are 27 percent higher than a year earlier, joining motor vehicle taxes and lottery ticket sales as growing revenue sources for the state, according to the Senate Fiscal Agency.
Homeowners, meanwhile, who choose to sell are learning from real-estate agents how to maximize prices. Al Block said he recommends setting a showing period of just a few days along with an offer deadline.
The best offer, he said, is not just about price.
Sellers are asking for – and getting – potential buyers to waive inspections, provide a guarantee to pay full price if an appraisal comes up short, or allow a seller to live in a home for a time after closing. Some potential buyers skip lending outright and offer cash.
The situation has many asking experts whether the state is within a new pricing “bubble” that could collapse. Kage, of the real estate data service, said enough factors are different from 2007 and the Great Recession to suggest that a bubble shouldn’t happen this time.
“I don’t know that we’re looking at that many (buyers) who could fall into foreclosure,” Kage said, due in part to tougher lending restrictions over the past decade. “We should be OK, as long as interest rates stay low and the economy stays OK.”
Mortgage rates are inching up over 3 percent in early March, and economists forecast they’ll rise to about 3.4 percent by year-end, a rate still considered low. Foreclosures, in the meantime, aren’t accelerating rapidly. National data from the Mortgage Bankers Association shows that 5.1 percent of Michigan homeowners are behind in their mortgage payments, a lower rate than 42 other states.
Haden Block, the agent in Royal Oak, said the mild rise in interest rates may help to alleviate some of the housing pressures by reducing demand. However, he notes, that won’t help affordability. Another solution, Al Block said, is for more lenders to offer “bridge” loans so that sellers can feel confident about listing their home while searching for a new one.
Nothing to show
The coronavirus changed the housing market, industry experts say. It closed homes to showings last spring, then sellers and the public had to regain confidence with in-person visits. Yet, with travel restricted and people staying home more, people wanted to focus on their living space.
“As we went through COVID-19, many folks found themselves in a situation where they were spending more time at home and working from home,” said John North, CEO of Coldwell Banker Weir Manuel, which is based in the Detroit suburb of Bingham Farms and operates 18 real estate offices in the state.
Some chose to renovate existing homes. Others saw “opportunities to take advantage of (remote work) and move to different locations,” North said.
Realtor Pete Platte of Gaslight Group Properties in Petoskey saw that play out last year, and it’s continuing in that community on Little Traverse Bay.
Platte said about half of the houses have been second homes, but the community is changing as buyers look for primary residences. “If you’re shut up in a pandemic, you might as well be in a beautiful area,” he said.
Normally by early March, Platte would be working with 10-15 active listings coming onto the market in February for buyers to consider.
“At this moment, there is zero,” Platte said last week.
One home listed in the $500,000 range in late February had three offers by the following day. Everyone watching it wondered if it could reach a $600,000 offer — or more — if it stayed on the market all weekend. The final price won’t be disclosed until after the sale is finalized.
Realtors agree that the lower end of the market tends to generate the most offers right now. Platte said the most he’s heard of in Petoskey is 10, while a move-in ready bungalow in the Creston neighborhood of Grand Rapids recently received 24 offers.
The Youngs got used to following other customers into Rochester Hills-area home showings and seeing another family ready to enter as they left, Stephanie said. That inspired quick decisions.
After one, as they discussed it in the car, they decided to make an offer for $15,000 over list price. “We weren’t going to wait.”
The house was very close to what they wanted. What they gave up in size they made up with a better floor plan for their lifestyle, which includes their 6-month-old daughter, Alita. They expect to close on March 20.
“We’re so happy,” Stephanie said. “I can’t believe we got it.”
2021-04-22T07:23:00-07:002021-04-22T07:55:38-07:00Diane Remertag:dianeremer.com,2012-09-20:26808 Simple Home Staging Tips8 Simple Home Staging Tips That Every Seller Needs To Know
No matter how hot the real estate market is, every seller gets a little nervous before officially listing their home. If you want your property to garner a lot of interest, there’s one piece of advice everyone can agree on: It helps to stage your home. You may be thinking to yourself, “I have great taste! My home is immaculately decorated.” We get it. You love your beautiful home. But just because it’s stylish doesn’t mean it’s staged. We know you’re proud of your framed travel prints and valuable figurines, but buyers care less about curated collections and more about seeing clean, strategically furnished rooms where they can gain inspiration and envision their future. That’s the art of home staging.
According to the National Association of Realtors:
31% of buyers increased their offer by 1% to 5% because the home was staged
77% of buyers felt more able to see themselves moving into a staged home
40% were more willing to visit a staged online listing
Staging is beneficial for homes of all sizes and price ranges because it affects not just the in-person showings but the photographs. With the increase in virtual open houses and listings, the vast majority of people want to browse online pictures before scheduling a visit, especially with COVID-19 concerns. Some Realtors even insist that a house be staged unless the property is a teardown. If you’re interested in tips for selling your home – potentially more quickly and for a higher price – take a look at these eight home staging ideas.
1. REMOVE THE CLUTTER:
The number one rule of home staging, decluttering involves clearing unnecessary furniture and items to make your home appear more spacious and functional. The goal is for every room to look like it has a purpose. Don’t be overwhelmed at the thought of clearing out and organizing every inch of your home. It helps to start small and have a simple declutter plan. Don’t stuff things in closets or cabinets either – those will be viewed by potential buyers, too. Wondering where to store these home items? Rent a portable container that can be delivered to your property, and then stored at a secure storage center. This is a great way to hang onto your things while getting your home in selling mode. You can keep the container for as long as you’d like – for those of you who want to take your time. Then when you’re ready, it can be delivered to your new home, whether that’s just across town or in another state. Staging and moving in one simple step!
2. BECOME MR. (OR MS.) CLEAN:
Cleaning is an important part of the home staging process. A messy home makes a poor first impression. Even in a seller’s market, you’ll likely have at least a few home showings, so you won’t want to complete a full deep cleaning every time the Realtor calls. Do a major cleaning when you first list the house, and then periodically as needed. To keep things well maintained, here are four easy things to do daily while your house in on the market:
Mop and vacuum the floors
Wipe down surfaces
Clean the toilets
Make the beds It doesn’t hurt to have a fresh clean scent in your home either. Try a softly scented candle or diffuser, but nothing too overpowering.
3. GET YOUR PRIORITIES STRAIGHT:
While it’d be ideal to stage every room in your home, that may not be possible due to time or other constraints. If that’s the case, focus on these four rooms:
Living room: Show potential buyers that their families will be cozy – but not cramped – in the space.
Master bedroom: Make the bed look warm, inviting and nicely decorated (don’t go crazy with the throw pillows). Put a book or vase beside a lamp on the nightstand.
Kitchen: Have clear countertops with few appliances. A fresh bowl of fruit or open cookbook is a nice touch.
Dining room: Make sure your table and seating are the right size for the room to avoid it looking cramped. Add some simple place settings for panache.
4. GIVE YOUR ROOMS SOME SPACE:
There are some cheap and simple ways to make small rooms look bigger instantly – or at least pretty quickly.
Hang long drapes on windows
Put a thin standing lamp or tall plant in an empty corner
Pull furniture away from the walls in living areas
Use lamps to add light to dark areas Mirrors are also a great way for creating the illusion of space. If you’re looking for strategic places to hang them, try over fireplaces, sofas, or consoles, or across from windows.
5. DON’T MAKE IT PERSONAL:
Buyers want to see potential in a house – they’re looking for a place they can turn into their home. That’s tough to do if they’re looking at a bunch of personal items from the current owner. Help spark their imagination by removing your family photos and mementos. Don’t forget to put away those toothbrushes and grooming items, too.
6. BE NEUTRAL:
Give your home a quick makeover by painting the rooms light, neutral colors. If you’re tight on time, opt for touch-ups only – like the trim, built-in shelving, or other small accents. Neutral colors aren’t for paint only. A few white towels hanging in the bathroom, cream-colored bed linens, and other light home accessories go a long way.
7. PUT AWAY THE ELECTRONICS:
While a few TVs are fine, you don’t want to show a house crammed with too many electronics. To create a clean aesthetic, remove extra TVs, gaming consoles, laptops, charging stations, electronic personal assistants, and other home gadgets that may clutter your space. These items can be distracting for potential buyers.
8. TURN TO THE PROFESSIONALS:
You may be a good organizer or decorator, but mastering home staging is a tough skill to acquire. To make sure the job is done right, consider hiring a professional home staging company. These designers know what it takes to sell a home and can accentuate your home’s best features. Some will even photograph your home for you. If trying to stage your home yourself is looking less Pottery Barn and more actual barn, there’s no shame in hiring help.
Depending on the size of your home, home staging services typically cost from $523 to $2,000, with the national average at $1,260, according to HomeAdvisor.
We understand that staging a home is no simple task, but the benefits usually far outweigh the time, effort, and expense. What about you? Let us know if you have any special home staging secrets by sharing in a comment. For a fast, free quote, visit <a href="https://www.pods.com/partners/kellerwilliams">PODS.com/KellerWilliams</a> or call (866) 667-5592 and mention Promo Code: KWRE to save 10% on your next moving or storage project2021-04-13T10:27:00-07:002021-04-13T10:43:41-07:00Diane Remertag:dianeremer.com,2012-09-20:2670Wall Color Preferences Shift Toward a Brighter FutureWall Color Preferences Shift Toward a Brighter Future
February 8, 2021 by <a href="https://magazine.realtor/daily-news/2021/02/08/wall-color-preferences-shift-toward-a-brighter-future">Realtor Magazine </a>
The COVID-19 pandemic has nudged homeowners to lighten the mood set by the color in their spaces. While gray has been dominant inside homes in recent years, it may now feel too gloomy, a new study says.
Earthy and warmer neutral tones are replacing grays as the most popular shades, according to 54% of 68 design trendsetters recently surveyed by Fixr, a home renovation resource. Sixty-three percent of designers said that whites and creams are the shades to pick for those selling their homes in 2021. Overall, 81% of designers believe that quarantining has strongly affected homeowners’ color choices.
<img typeof="foaf:Image" src="https://magazine.realtor/sites/default/files/styles/asset_image_full_content/public/assets/images/2.8.2021_Fixr_FIRSTCHART.png?itok=Kj0IkCP5" width="872" height="562" alt="Chart shows preferred interior colors" title="2.8.2021_Fixr_FIRSTCHART.png" />
Fixr.com
<img typeof="foaf:Image" src="https://magazine.realtor/sites/default/files/styles/asset_image_full_content/public/assets/images/2.8.2021_FixR_1.png?itok=pdk23RSM" width="896" height="572" alt="Chart shows preferred interior palettes" title="2.8.2021_FixR_1.png" />
Fixr.com
Designers believe that Benjamin Moore’s Aegean Teal and Sherwin Williams’ Urbane Bronze will be the most used “colors of the year” by homeowners this year. Blue also has become a popular choice for personal spaces and for sending soothing vibes inside a home, the survey finds.
Also, white has become the dominant choice for exteriors. White is expected to be the leading choice for exterior colors to sell a house in 2021, according to Fixr’s report.
Home design and staging inspiration: <a href="http://styledstagedsold.blogs.realtor.org/" target="_blank" data-di-id="di-id-51c4a4c9-c0d50581">Styled, Staged & Sold blog</a>
Some other findings from Fixr’s color trends report are:
Light-colored furnishings: Light natural tones, and light colors in general, received the most nods from designers for furnishings. It marks a move away from the darker brown and dark gray furniture to soft natural tones. “Light and natural tones on the furniture would coordinate well with the natural and neutral colors for the walls, also making the ideal backdrops for some fun, bold colors added by accent pillows or art,” the report notes.
Adding pops of color: Sixty-five percent of designers say that textured walls and wallpapers likely will lead the way for accent walls. Textiles—pillows and bed linen—can be a popular way to incorporate newer colors into a home.
<img typeof="foaf:Image" src="https://magazine.realtor/sites/default/files/styles/asset_image_full_content/public/assets/images/2.8.2021_Fixr2.png?itok=cBgwrxKE" width="899" height="510" alt="Chart shows ways of incorporating new colors" title="2.8.2021_Fixr2.png" />
Fixr.com
<img typeof="foaf:Image" src="https://magazine.realtor/sites/default/files/styles/asset_image_full_content/public/assets/images/2.8.2021_Fixr3.png?itok=mJ5v6wmn" width="878" height="507" alt="Chart shows preferred accent walls" title="2.8.2021_Fixr3.png" />
Fixr.com
Most popular colors by spaces: Room by room, the following hues proved the most popular:
Home office: Off-white or navy blue
Kitchens: natural and earth tones or shades of green
Bedrooms: Blue (dominant choice)
2021-04-07T07:46:00-07:002021-04-07T07:52:10-07:00Diane Remertag:dianeremer.com,2012-09-20:2389Real Estate Pros to Homeowners: Don't Wait to Sell
March 3, 2021
“A lot of people are missing the best market now by waiting,” Kris Lindahl, CEO and founder of Kris Lindahl Real Estate in the Minneapolis area, told MarketWatch.
Homeowners are finding themselves with more negotiating power as buyer demand remains high and housing inventories are slim. The supply of homes for sale is at a record low of 1.9 months. A six-month supply is considered a healthy balance between sellers and buyers.
The high demand is sparking home prices to surge. The median home price was $303,900 for an existing home in January—a 14% jump from the year prior, according to the National Association of REALTORS®.
Homeowner equity has grown. Thirty percent—nearly one in three—of homes with a mortgage in the U.S. are <a href="https://magazine.realtor/daily-news/2021/02/08/178m-homes-are-now-considered-equity-rich" target="_blank" data-di-id="di-id-a59d8f8-bbe8acd8">now considered “equity-rich</a>,” according to ATTOM Data Solutions, a real estate research firm. A home being equity rich means that the combined estimated amount of loans secured by the property is 50% or less of the estimated market value.
Homes are selling fast, too. “At this point, I’m telling my sellers, ‘Pick a Saturday,’ ” Marc J. Jenkins, a real estate professional with Prime Property Partners in the Atlanta area, told MarketWatch. “‘Give me four or six hours, and I’ll sell your house.’”
So what’s holding sellers back? They often have to buy as well and are struggling to find a home to move to. Potential sellers fear they’ll pay more for a comparable home, even if they’re downsizing. This may leave sellers unsure of what to do, but there are ways around the stress.
“I would say buy first because this way they can take their time,” Sonia Figueroa, a real estate pro with EXP Realty in Chicago, told MarketWatch. “They’re not feeling rushed, and they’re not just going to jump into any house just because they need to hurry up and move out.” However, a seller would need to get preapproved for a mortgage to buy their next home while paying the mortgage on their current home. For some homeowners, that is not a financial option for them.
Others can list their homes and then accept an offer from a buyer who is willing to wait while they find a place to buy. Sellers have more negotiating power and often are able to ask for this extra time. Sellers also may be able to negotiate a rent-back agreement to allow them more time to shop for a home.
Source:
“<a href="https://www.marketwatch.com/story/thinking-of-selling-your-home-dont-wait-11614355466" data-di-id="di-id-5afed498-5cf8e395">Thinking of Selling Your Home? Don’t Wait</a>,” MarketWatch (March 1, 2021)
<a href="https://magazine.realtor/daily-news/2021/03/03/real-estate-pros-to-homeowners-dont-wait-to-sell" title="Link to the article" target="_blank">https://magazine.realtor/daily-news/2021/03/03/real-estate-pros-to-homeowners-dont-wait-to-sell</a>
2021-03-04T10:11:00-07:002021-03-04T10:21:14-07:00Diane Remertag:dianeremer.com,2012-09-20:2261Why You Should Consider Selling in the Winter<img src="https://assets.site-static.com/userfiles/2802/image/selling-in-the-winter-attracts-serious-buyers.jpg" alt="Selling In Winter Attracts Serious Buyers" title="Selling In Winter Attracts Serious Buyers" height="410" width="750" />
The season you sell your home can have an impact on how much you get for your home and how quickly it sells. The season that has the most success in selling homes is spring. This is a good time of year for families moving to new school districts and is also more convenient weather for moving. Because of this trend, most people will recommend waiting to list your home until after the winter is over. Avoiding the winter is a huge misconception in the housing industry and can cause homeowners to miss out on opportunities.
Selling in the winter can give you a few advantages. There will be fewer houses on the market since most people assume winter is a bad time to sell. This gives your home more attention. Potential buyers are always looking no matter the time of year. Keeping your house on the market in the winter might bring the right buyer to your door. Real estate agents also tend to be less busy during these months and commit more time to getting your home sold.
Studies have shown winter buyers are buying because they need to move right away either for a relocation or personal situation. They will want to close quickly and allow for a much smoother sale.
Bottom Line
If you need to sell your home right away, or have some time but want to see what is out there, consider listing in the winter. Most homeowners who are going to sell will list their home in the spring, making for a competitive market. The winter allows buyers who are in a hurry to move consider your home and sell for more money than you would have in the spring.2020-12-31T08:55:00-07:002020-12-31T08:58:47-07:00Diane Remer