We all want people to love our home as much as we do, but especially when you are trying to sell it! While it’s impossible to please every buyers’ taste, there are several easy things you can do to make your home more appealing without spending a lot of money. Try some of these tricks […]
It is a difficult time for buyers in real estate. It has been what our industry calls a “seller’s market” for quite some time now. Since Coronavirus hit, there have been fewer options for buyers to choose from. Homes that have been listed and sat longer on the market are even selling now due to the limited inventory available.
If you have been thinking about selling, it is now may be the right time for you! It is important to do so strategically, though. Talk with one of our dedicated REALTORS® to see if selling is the right step for you to take. You can browse through more information on selling here.
With everything that is going on, you might be wondering how the housing market is being impacted. It is a good question to have, especially if you are thinking about selling or buying real estate any time soon. So, as you might assume–folks have slowed down their desire to buy or sell due to COVID-19. According to Lawrence Yun, National Association of REALTORS® Chief Economist, “In the latest flash survey, 11% of REALTORS® indicated a reduction in buyer traffic and 7% are reporting lower seller traffic when asked directly about the coronavirus impact on the market.”
Looking back before the outbreak occurred, it was widely a seller’s market. This means that demand for houses is higher than the supply of houses available–which leads to higher prices for the sellers’ properties and not as much room for negotiation for the buyers (there are a number of other factors, but this is the gist of it).
Fast forward to now when things have slowed down. It is evident that it is still a seller’s market. With even less of an increase in the number of homes becoming available, there is even more competition for homes. Although this is true, it is also important to note that there are fewer buyers–so homes may be sitting longer than anticipated.
Currently, it is essential to remember that there are still players in the market right now–buyers and sellers. Real estate has not come to a complete halt, and it will not get to that point. Real estate has been noted as an essential service during this time and those agents that are willing and able to continue working for clients are still doing so.
Looking into the future, I predict that as we continue to “flatten the curve” we will begin to see an increase in homes popping up available on the market and an influx of buyers as well. You see, this virus is keeping many folks in their homes. As soon as people begin getting more comfortable, I think the market will boom (for both buyers and sellers) due to the cooped up supply and demand. Buyers will need to act fast. Sellers will want to be one of the first on the market when this happens. People have been waiting, on both sides, and will be ready to go!
If you want to prepare for when the time comes to sell or buy, contact one of our agents today. Things are happening and people are preparing, do not get left behind!
Did you know that changing out the home’s front door can be one of the best remodeling projects you can do financially?
It is the first thing people see when they visit. Make it impactful, from the material and hardware to the color and style.
Need other ideas on how to improve your home? Ask one of our experienced agents to see what potential home buyer’s are looking for in a home these days.
Thinking of selling your home this year? Maybe you are ready to upsize or downsize, move to a new neighborhood, or take advantage of a sellers’ market. In any case, there are some smart moves you can make before you list to ease the process of selling your home.
- Bring in a handyman. Have repairs made to leaky faucets, torn screens, broken door or window locks and handles, faulty electrical outlets, drywall damage, missing grout or caulking, broken sprinkler heads, rotten wood and anything else that would give a buyer reason to wonder, “What else is wrong with this house?”
- Clean out storage spaces. Closet by closet, cabinet by cabinet, and drawer by drawer, get rid of items you no longer use. Your goal should be to show that the home has plenty of storage space, not spaces bursting with clutter.
- Put away excess décor. Go for a minimalist look so that buyers can see the bones of the house and not have to move or look around decorative items to see the home.
- Ditto on the Family Photographs. Humans are naturally drawn to people’s faces. If your home has family photos on every wall and shelf, buyers will be distracted by all the pretty faces.
- Have the exterior pressure-cleaned. Make sure to include the roof, patios, porches, driveway and walkways.
- Spruce up the landscaping. First impressions are everything. You want buyers to want to come inside and not drive on by. Increase your curb appeal by trimming shrubbery and trees, putting down fresh mulch and planting some annuals.
- Perform a deep cleaning. Consider hiring professional cleaners to tackle everything from the ceiling fans to the baseboards, including cleaning inside and behind kitchen appliances, the dryer vent, and inside cabinets and drawers.
- Put on a fresh coat of paint. At least touch up scuff marks, but if your home is painted in bold or dark colors, consider repainting to neutral shades.
- Check for smells. We become immune to smells we are around every day. Consider having someone come in to check for odors from pets, mildew, mold or smoke.
- Have a WDO inspection performed. This is usually a part of the buyer’s inspection process, but if you can identify any past or present termite activity and have it corrected ahead of time, you can breathe easier come inspection time.
- Ditto for mold testing. If you have any reason to believe there may be mold or water damage lurking behind walls, under flooring or in the attic, go ahead and address it now.
- Consider staging. If you have a rooms that are sparsely furnished or were used for a purpose other than what they were built for, consider refurnishing or staging to show how furniture lays out in the room.