Home Sellers Archives - Page 4 of 10 -

April 1, 2023June 18, 2024

Should You Buy a New Home Before Selling Your Current One?

Key Takeaways:

There’s no wrong answer when it comes to the order of buying and selling
Keep in mind the pros and cons of each option before making a decision
Contact us when you know how you’re handling the purchase or sale of your home

Whether you buy your new home before selling your old is the real estate industry’s equivalent of “Which came first, the chicken or the egg?” At first thought, you believe there’s an obvious answer. And then you start to really break things down. Thankfully, a good list of pros and cons can guide you to the answer that fits your scenario.

What you’ll find is that it may come down to personal preference, but there are a few things you should take into consideration. If you’re in the market for a new home and need to list your current one, here are some pros and cons of both buying first, then selling and selling first, then buying.

Pros of Selling Before Buying Your Home

This may seem like the most logical option. You don’t have to carry two mortgages or pay utilities on two homes, and you can access the equity of your old home for the downpayment on the new one. But there are more benefits to selling your home first, in case neither of those perks apply.

You Can Better Stage Your Home

If you’re still living in the home you’re listing, you can use your furniture and some of your decor for staging. If you’ve ever walked into an empty home, it can feel cold and uninviting. But don’t crowd the space with furniture, and leave only minimal decor behind to make the space homey and warm.

Increase Your Purchase Offer

The word “contingent” isn’t a wonderful one in the real estate industry. If you’re trying to sell your home and the purchase of your new space is contingent on the property being sold, your offer may be less appealing. When you sell first, you have the money in hand and nothing holding up the deal.

Take Your Time

When you sell first, you can take your time. There’s no other home waiting for you and no contingencies on the sale. Being able to take it slow means you can be a little pickier with your offers.

No Question of Final Profit

When you sell and buy at the same time, there’s always a concern that you won’t walk away with what you expect from the sale. What if there’s a last-minute repair? What if you just don’t get what you were looking for? These things can really hinder your purchase, so it’s a perk to not have to think about it.

Cons of Selling Before Buying Your Home

Alternatively, selling before buying has some disadvantages. Chief among them are these three issues that can complicate matters a little.

You Will Need Temporary Housing…

When you sell your home, where will you live? With no new home to move into, you need to secure temporary lodging. Do you need a short-term rental or will you move in with a family member? Neither is ideal for any decent amount of time.

…But How Temporary Will It Be?

What if the purchase of your new home takes longer than expected? You can burn through some of your profits or strain relationships if things don’t go as planned. Month-to-month rentals aren’t secure as you can be asked to leave at any time and they are costly, so you have to time everything just right and hope it goes smoothly.

You’ll Be Adding an Additional Move

No matter how you organize things, you’re going to be moving twice. Even if most of your belongings go into storage and you keep only the necessities, you’re still unpacking and repacking your everyday items and transporting your stored effects to your new home. Moving can be a costly and tiresome endeavor, especially if you have to do it twice.

Pros of Buying Before Selling

If you have the option to purchase your new home before selling your old one, it may seem like the route to go. There are a few reasons why this is an ideal scenario, such as the following pros.

More Time to Find Your Dream Home

With a secure space to call home, you have more time to locate your new dream home. There’s no one pressuring you or chipping away at your bank account, and you don’t have to completely rearrange your schedule to make showings work.

You’re In Complete Control

As previously mentioned, you have nothing pushing you out of your home. This gives you complete control over your moving timeline. You can take your time to ensure everything is properly organized and safely packed.

Selling an Occupied Home Can Be a Hassle

When you’re trying to live in your home, it can be a nuisance to have to schedule showings and stage it properly. Larger families may find staging to be the biggest obstacle, especially if things have accumulated over the years. Some showings can also be scheduled last minute, meaning you’re having to rush out of the house. If you buy first, you’re already out of the house.

Only One Move

Since you won’t need temporary housing, your first and only move from the house you’re putting up for sale is to the house you purchased.

Cons of Buying Before Selling

Should you jump into buying your new home before you even list your current abode? We’ve covered the pros, but don’t forget to consider some of these reasons why you should maybe hold off.

It’s an Added Financial Strain

When you own two homes, chances are you have two mortgages. You’ll also need to keep utilities running in the home you’re selling. Then there are taxes, insurance, and any upkeep you may have to do while you still own the house you’re leaving.

You Have to Watch Over Two Homes

You don’t want to leave the home you’re selling unoccupied for long. It should be kept clean so prospective buyers are seeing a comfortable space and not something that’s been sitting for some time. The added work of performing upkeep and watching over two homes can take some time out of your week.

No Matter the Order, Call Us Today

It doesn’t matter to us whether you buy or sell first, so long as you end up with the resolution you were seeking. Give us a call today so we can help you decide which best suits your situation and needs. Once we know what’s best for you, we’ll either find your new home or set a valuation for the home you’re selling.

Read our tips on maximizing your home’s equity.

March 15, 2023June 18, 2024

Simple Ways to Improve Your Home’s Curb Appeal

Key Takeaways:

Curb appeal is an important part of selling your home
You can improve your home’s attractiveness without a professional
Contact us to see how improving your home’s appearance can help it sell

Curb appeal is the overall exterior allure of your home, and has nothing to do with the concrete edge it’s named after. If you’re looking to sell your home in 2023–whether it’s a townhome, condo, or single-family residence–you should be evaluating your home’s curb appeal. It’s the first thing prospective buyers see. If you follow these simple tips and apply them appropriately, you can make a good first impression on local homebuyers before anyone even steps through the front door.

If You Have a Lawn, Manicure It

Manicure may sound like a silly word to use in this instance, but it’s accurate as you’re ultimately tending to your lawn’s cosmetics. Spruce up your lawn before showings by cutting overgrown grass and shrubbery to uniform heights and removing all weeds..

Of course, manicuring also includes getting rid of those patches of dried, brown, dead grass. A real, natural look should be your goal as a clean lawn gives the entire property a more elegant appearance.

Tend to Your Garden Beds

windowsill flower bed with pink and white flowers

Even if you don’t have a lawn and grass to worry about, you may have garden beds that need tending. Mulch fades and decorative rocks can get lost over time. Fill in any bare spots; replace your current mulch with a fresh, brightly colored option; and remove dead plants as needed.

Even if it’s just a windowsill flowerbed, the extra care and attention can go a long way to sprucing up your home’s curb appeal.

A Pop of Color for Curb Appeal

The front door is a focal point of your home and can be one of the first things buyers notice. Unless there’s heavy damage to the door, you don’t need to replace it. Simply add a coat or two of paint, using a color that accentuates the scheme of your home. Be mindful of any HOA regulations regarding exterior paint colors. You may have to choose from a specific set of shades.

While you’re painting the door, replace the hardware to match the new color. If your old hardware does match and can be cleaned to look brand new, certainly use it. While you’re replacing the hardware, you might as well swap out any street numbers if you can find a good match.

Upgrade Your Lighting Fixtures

Light fixtures can be a pretty big part of your home’s curb appeal. No matter how many you have, these fixtures should look updated and new. In many cases, you can clean up the ones already installed and maybe even hit them with a can of spray paint. However, it can be necessary to replace them entirely if they’re damaged or beyond repair.

If you aren’t sure if fixtures need to be repaired, don’t tackle the project alone. We can recommend local experts who can tackle any needed updates.

Install Outdoor Path Lighting

path lighting illuminating stepping stones

Townhomes, condos, or single-family homes typically come with a walkway leading up to your front door. Even if you have a motion sensor flood light, path lighting can really enhance your space, give it a luxurious look, and even improve safety. Path lighting comes in all shapes and sizes, and, for the most part, is solar-powered.

Additional to path lighting, you may consider adding uplighting to illuminate a lone tree, a planter you’re quite proud of, or to showcase the exterior facade of your home. Uplighting really adds a touch of class to any exterior, leaning even further into the lavished home look with minimal effort needed.

Add Simple Accents

A home without anything out front to fill the empty space can seem vacant, cold, and dull. Even if you just add potted plants, a welcome mat, or a seasonal wreath, it can go a long way to give a welcoming look and feel. One thing to consider is symmetry. Potted plants look so much better in pairs when they’re symmetrical.

Try not to crowd your porch or any other area you’re filling in. Just add enough to boost your home’s curb appeal.

Clean It All Up for Maximum Curb Appeal

Everything that can be seen from the road should be scrubbed, swept, wiped down, and cleared out. Gutters, stairs, windows, driveways, porches—try to make things as spotless as possible. A clean-looking home is going to be more attractive to buyers because they’ll know it’s been in good hands all these years. A high level of cleanliness shows you really cared about the space, and will certainly get buyers excited to see the rest of your home.

Put Your New Curb Appeal to Use

If you’re putting in all this work to improve your home’s curb appeal, then it must mean you’re getting ready to sell your home in 2023. Reach out to our team today to start discussing how we can leverage your new curb appeal to build a sales strategy that will attract new homebuyers. Our local sales experts use the latest market data for your neighborhood to ensure you’re getting the best return on your home.

Read more about how a beautifully landscaped garden can improve your bottom line.

February 1, 2023June 18, 2024

How to Get Your Home Ready to Sell in 2023

Key Takeaways:

Sell your home faster with these easy repair and design tips
Minor improvements can make a big difference
Contact us to sell your home for top dollar in 2023

Thinking about selling your home in 2023? Your property’s interior and exterior look and feel have a direct impact on the final sale price of your home. Investing in minor improvements such as paint, flooring, or furniture creates an inviting atmosphere and draws potential buyers. Before you list your home, try these proven tips to help get you every penny your home is worth!

Remove extra clutter in your home

Realtor is giving the keys to a home to clients.

A home free of clutter can help potential buyers see the true beauty in your space. Not only does removing the clutter make viewing easier, but a clean room shows that you take care of your home. Removing items blocking walkways or other essential areas allows buyers to better imagine their furniture and possessions in each room. Decluttering also helps you keep organized as you move out, simplifying the packing process. Don’t let unnecessary objects get in the way of potential buyers seeing how great your space is!

A fresh coat of paint goes a long way

Neutral colors make a home appear clean, open, and inviting, so painting the walls in a neutral shade is a must for anyone getting ready to sell their property. Neutral colors help buyers envision the space as their own – allowing them to mentally plan how they’ll use the rooms in their new home. Plain colors can also make furniture and other decorations stand out, so they don’t have to worry about adjusting pieces to match what was already on the walls. Utilizing neutral colors will give potential buyers an idea of how a room would look if decorated with their own style and personality.

Entice homebuyers as soon as they arrive

Beautiful, Newly Built Luxury Home Exterior

Increasing your home’s curb appeal is an easy and satisfying way to give your living space a fresh look. By tidying up the yard and enhancing the house’s exterior, you can create an inviting atmosphere that potential buyers will love coming home to. Taking care of the lawn can be as simple as mowing regularly or adding potted plants and foliage that match your decor style. Paying extra attention to specific details, like painting the front door, can help your property stand out nicely. An easy and inexpensive option to add instant curb appeal is to have your house power-washed. With just a little effort, you can craft a stunning outdoor environment that will draw admirers far and wide.

Let’s Discuss Your Real Estate Goals

If you’re thinking about selling your home in 2023, right now is the best time to start getting ready. Contact our team to discuss your real estate goals so we can help you build a smart strategy for selling. Our team has the local experience you need and backs our advice with the latest market data for your neighborhood to help you get top dollar for your home!

Check out our seasonal tips for selling in 2023.

December 15, 2022June 18, 2024

Why the Holidays Are an Excellent Time to Sell Your House

Key Takeaways:

Less competition and holiday decor make your home stand out.
Serious buyers and fast closings make for a merry sale.
With the year coming to a close, contact us today to get started!

Believe it or not, the holidays are a wonderful time to sell your home! People are in warm spirits, and there is typically less competition from other sellers during the holidays, so your house is more likely to stand out. So if you’re considering selling your house, the holidays may be the perfect time to do it!

Holiday cheer extends to homebuyers

Home with a bow in front of a holiday tree.

During the holidays, people are out shopping—for homes! Yes, homebuyers take advantage of the festive atmosphere to research options and kickstart their house-hunting journey. With offers of holiday cheer in the air, many buyers feel more confident taking the plunge and seriously making offers on potential homes. Beyond being a season of merriment, the holidays have become a time for serious house hunters to jump into the market.

With less competition, your home shines bright

During the holidays, sellers can enjoy a unique advantage over their competition. With fewer houses listed on the market, those for sale tend to see busy open houses bustling with would-be buyers. That’s why when you list your home during the holiday season, your house has a better chance of standing out to potential buyers and moving off the market as quickly as possible.

Offers made during the holidays are serious

Buyers during this time of year tend to be more serious about making an offer, so you’re more likely to get an offer – and close the deal! By taking advantage of the housing market at this time of year, you’re capturing demand during the seasonal rush. The holidays could be the perfect opportunity to sell your home quickly and for top dollar.

Holiday decorations are perfect for staging your home

Decorating for the holidays can give your house that extra bit of charm and make it more appealing to potential buyers. Decorating with subtlety is key: hanging up bold red and green decorations or festively-themed banners might be a little too much for some viewers. Instead, go for tasteful touches like wreaths, string lights, and pine garlands in doorways and window ledges to bring alive the holiday spirit while not overwhelming buyers. This way, you’ll create an inviting atmosphere in your home that will make it stand out from competitors in the market.

Get the Gift You Want

The holidays are the perfect time to sell your home and get top dollar. With less competition and serious buyers, plus some cheer thrown in for good measure, now is the time to move quickly. Selling during the holidays can be a great way to start the new year in your new home. Our experienced real estate team can help, so contact us today to get started!

Read our article about selling in other seasons, as well.

October 15, 2022June 18, 2024

Top 3 Staging Tips To Sell Your Home Faster

Key Takeaways:

Staging showcases a home’s best assets, and helps sell it for top dollar.
You’ll be at an advantage if you take the extra step of staging your property.
This is a great time to plan for the future of your home, so contact us today!

First impressions matter. When you finally put your house on the market, you’ll want to pay special attention to how you stage your property.

Staging is a real estate term that means how a house looks. Good staging helps buyers imagine themselves in the home. It shows off the property’s good features, hides its flaws, turns unconventional spaces into usable spaces, creates a mood, and makes the house look significantly better in photos.

Let’s look at why staging is necessary. Read on for some of the staging steps to ensure you get top dollar for your home!

Why staging your home matters

Potential buyers aren’t just looking for a structure to inhabit – they’re also looking for a way to fulfill their dreams. If done well, staging allows buyers to imagine themselves already living in the property. It can create a more emotional sale for the buyer, generating more money for the seller.

Potential buyers don’t want to see work they will have to do upon moving into the home. For every problem they see, they will want to deduct its cost from the offering price. If too many issues get noticed, they may even pass on the home entirely.

Before they step foot into a home, prospective buyers spend hours looking at pictures of their potential new homes on the internet.

How your home looks, inside and out, is arguably the most crucial feature of your home. If it doesn’t look good, potential buyers will continue their search and keep clicking. Proper staging gets them to stop. They will envision how the house might look once they move into it, making it look more move-in ready.

Essential home staging according to the experts

Painting your home to sell for higher price.

According to the 2021 Profile of Home Staging, a National Association of Realtors (NAR) report, 82% of buyer’s agents said that staging makes it easier for buyers to visualize a property as their future home, which can help the home get top dollar and sell faster. The report also found that staging the living room was very important to 46% of buyers, followed by the primary bedroom at 43% and the kitchen at 35%.

Before you give in to the temptation to think that staging your home will cost you thousands of dollars, let’s take a quick look at a few of the most cost-effective and simplest staging steps to help your home sell for top dollar more quickly.

Keep it clean

A clean home shows potential buyers that you’ve taken good care of the property. Ideally, you should clean every part of the house, from the floors to the ceilings and everything in between.

If you don’t have new appliances in the kitchen, there’s no need to worry. Just make sure the existing ones are spotless. Likewise, ensure your bathrooms sparkle, from the corners of the tub to the sink drain to that spot behind the toilet you don’t think anyone can see. Your goal should be to make everything look new and hospital clean.

Take care of your clutter

Buyers need to be able to envision themselves in your home, so remove all the family photos, keepsakes, and refrigerator art. Yes, the velvet paintings must come down. Likewise, keep clothes hidden away as much as possible, and make sure the bathroom counters are empty (except for hand soap, of course). Similarly, put away all the toys and anything else that is highly personal to the home’s current inhabitants.

Plants and paint go a long way

A few potted plants can do wonders to make your home feel fresh and inviting to potential buyers. But conversely, if you’ve got a lot of indoor plants, this could create a cluttered feeling, so you’ll want to remove some of them. Additionally, a new coat of paint is a relatively inexpensive and quick home staging step you can take that will pay big returns on closing day.

Work With the Best

If you’re ready to move, work with your local team that knows the micro-housing market trends in your area. Our real estate agents have decades of experience and understand how to help you best navigate today’s market. So don’t hesitate to reach out and say Hello! to figure out your best options for buying or selling your next home!

As staging is to the interior of your home, curb appeal is to the outside.

August 26, 2022August 8, 2024

Property Organizer: The Key To Your Dream Home

Why Use a Property Organizer

Have you ever been overwhelmed in the buying and selling process? With so many options out there and the market constantly changing, it can be challenging to stay organized during your search. Luckily, there’s a user-friendly tool that has your back. The property organizer is an overlooked yet extremely beneficial tool that stimulates and simplifies your home search. It’s important for buyers to utilize, as it offers advantageous qualities for each.

Key Takeaways:

Understanding why it’s your secret weapon
Learning how to use it
Discovering how it will benefit you

How Will the Property Organizer Help Me?

This handy tool provides an easy way for you to save your favorite listings and property search settings. It delivers properties within your search settings directly to your inbox. Benefits include:

Allows you to see listings that match your criteria
Speeds the process of home searching
Lists properties as soon as they hit the market
Allows you to save and organize your favorite listings
Provides a wider range of listings for as many options possible

Property Organizer and Email Alerts

First, you need to know how to use the tool to your advantage. Create a search for the area, price point and any additional criteria that fits within your home search. Once you create your search, save that search to receive email notifications directly in your inbox. Email alerts are widely beneficial, as they ensure that properties in your criteria aren’t missed. You can adjust your settings to expand the area, price range, and how often you receive alerts.

For Buyers

As a buyer, using the property organizer feature is vital to your home search journey. You have an advantage by using the property organizer, even if you aren’t ready to buy. No matter what stage you’re at in the buying process, creating a saved search in your property organizer is essential as far as monitoring trends, seeing what type of properties are available in your price range, and being aware of what features are common in the area. Overall, this is a tool that helps you to become more active and engaged, so your next dream home won’t be missed!

For Sellers

The property organizer helps to facilitate the selling process, as it allows buyers to see what’s out there with no limitation. When you list with an agent who has one on their site, you can be assured that your property is marketed directly into buyers’ inboxes as soon as it hits the market.

So, how is this beneficial to a seller versus a buyer? Well, the organizer may help your home sell faster by increasing the chances of your property being seen, and maximizing its reach. As a seller, you’ll be notified anytime a home is listed in your market, along with its price, size, and other specific features, which promotes awareness and strategy behind your listings. It is is also advantageous to sellers in the sense that it allows them to monitor aspects such as market trends and pricing strategies.

Ready To Use The Property Organizer?

If you’re not sure how to set up a property organizer don’t worry, our team is here to help you! Buyers, just let us know your price point, area, and any details you would like us to include in your search. Sellers, provide us with your address and you will be notified when properties sell in your area.

To see the property organizer in action, read our article 3 Reasons All Buyers and Sellers Should Use Listing Alerts.

July 15, 2022June 19, 2024

The 2022 Summer Housing Market

Key Takeaways:

There’s a lot to be excited about with this summer’s housing market.
Homes are for sale with the features you want, like swimming pools.
Our team knows how to help get the most for your home – contact us!

Despite news about a looming recession, high mortgage interest rates, and low inventory negatively impacting the housing market, many good things are still happening and worth getting excited about in the 2022 summer housing market.

Some promising news in today’s historic housing market is that home demand remains strong, with well-vetted, qualified buyers making cash offers, creating a more balanced seller’s and buyer’s market. Additionally, home values continue to defy the odds and climb higher with no end in sight, helping your equity gains grow, which creates opportunities to put your equity gains to use that have never been better.

So, let’s take a deeper look at the 2022 summer market trends and help you figure out your next best step!

Upgrade to a home with the summer features you want

Senior neighbors having fun spending sunny summer day together outdoors, having a backyard barbecue party by the swimming pool

Maybe you’ve just returned from vacation, and you miss relaxing by the sea, or perhaps you didn’t go on holiday this year and missed out on getting to spend afternoons poolside or get to the ocean. Or possibly you’ve looked into getting a pool, or some other addition, installed at your home and have encountered supply chain issues. Regardless, there’s no reason to be discouraged.

While housing supply is at record lows, it’s important to remember that historically, summer marks a lull in inventory that gets improved upon by the season’s end. This year is no different, with plenty of updated and newly-built properties available on the market, so it’s a great time to look and see if your ideal property that already has a pool or a pavilion is on the market right now waiting for you.

Real estate is a proven safeguard against recession

Closeup house model over the Sale representative offer the house price list and condition for house purchase or rental on the working space table in new house

A shrinking economy marks a recession. People will spend less money on discretionary purchases, focusing instead on essentials. Companies may slow down hiring or even begin laying off workers to bolster their bottom lines. Stock prices may drop in the face of uncertainty about the economy.

When a recession sets in, the value of your stock portfolio may take a hit if prices drop temporarily. While downturns aren’t ideal, they can create opportunities for savvy real estate investors. If you’re considering investing in real estate during a recession or already own investment property, you need to have a strategy for maximizing your equity gains.

Real estate can offer some stability for investors when the economy slows. Of course, a recession doesn’t automatically cause a drop in home values. But if a recession causes a hot housing market to cool off, that could open up opportunities for you to find your dream property at a discount.

It may seem contradictory to move during these challenging times, but remember, even with higher mortgage interest rates, there are always opportunities, even in the most demanding of seasons. What makes the difference is doing your research, knowing what you want and can afford, and most importantly, working with a capable guide before leaping.

Just remember: As with any real estate purchase, it’s not about right-timing the market but about buying at the right time for your personal goals and finances.

Let’s Talk About Your Real Estate Goals

Whether following local and national trends and guiding you through a shifting market or pricing your house right, a trusted real estate agent has the expertise you’ll want to rely on throughout your next transaction. So if you’ve been considering selling, let’s connect so you can have an expert on your side.

June 1, 2022June 19, 2024

Now Could Be the Best Time to Sell Your Home

Key Takeaways:

Shifting buyer demand creates lucrative opportunities for decisive sellers
Higher mortgage rates have set fire to this already hot housing market
Don’t delay—now is the time to contact us and get your home on the market!

The current housing market

With a sudden jump in home listings recently, today’s hot housing market has many homeowners wondering if now is the best time to sell. Of course, trying to time the market perfectly is challenging, though if there ever was a time to sell, this is absolutely a great one.

Everyone’s situation is different, but if you’ve been thinking about selling your home lately, contact us today to begin the process and maximize your success.

The supply of homes for sale, explained

Saleswoman giving home keys to new property owner.

Compared with last year, the supply of homes for sale jumped 9% in May, which is striking considering the historically low supply of home inventory that has defined the US housing market this year.

As sellers rushed to put their properties onto the market and cash in their equity gains, new home listings rose nearly twice as fast as a year ago in May, while pending home sales fell by almost 4% in April. And with sales of newly built homes dropping by a much broader 16% compared with March, this marked the sixth straight month of sales declines.

To fully appreciate this drop-off, consider that this softening in demand for housing marks the greatest slowdown on record in nearly a decade.

Home sales are slowing because mortgage rates have risen sharply since the start of the year, with the most significant gains coming in April and early May. The average rate on the 30-year fixed mortgage started the year close to 3% and is now well over 5%, causing new home buyers to slow down a bit.

The reality of rising mortgage rates

Businessperson's Hand Protecting Balance Between Percentage Red Cubic Block And House Model On Wooden Seesaw

While homeowners and homebuyers certainly enjoyed locking in 30-year fixed mortgages at the historic low of 2.68% in December 2020, this is far from the norm. It was only a few years ago, during the decade of the 2010’s, that mortgage rates averaged between 3.45% to 4.87%—not that far off from today’s average of just over 5%.

If you step back even further in time, the absolute highest mortgage rate was a whopping 18.45% in 1981! Like today, that was due to the Federal Reserve raising the federal funds rate to combat inflation, causing mortgage rates to spike. But unlike potential homebuyers in 1981, we have good news on the horizon, as we’re seeing mortgage and refinance rates start to decline for the first time in weeks and the economy showing signs of stabilizing.

An overdue housing market correction

Chart showing home values changing over time.

If you’re still worried about the housing market, you don’t need to. The good news in these reports is that homes are still selling, and in many cases, they’re still selling above their asking price. The housing market is cooling down due to a lull in buyer demand. However, this cooldown is a much-needed correction to what has been a short-term housing market fueled by the pandemic.

The critical difference in the market now is that with fewer buyers competing with one another over available housing, home prices rose another 21% in May, meaning equity gains are still there for homeowners. And if you’re looking to sell to downsize and lower your monthly expenses, you’ll be perfectly positioned to find your ideal home with fewer buyers competing with you in the market.

Sell Now for Your Best Return

If you’re considering selling your home, this may be the best possible time to list. With a trusted, experienced real estate team behind you, you can rest easy knowing that we’ve seen the ups and downs of the market over the years. You can always make a smart move, so contact us today to discuss your options!

May 15, 2022December 20, 2024

Inflation and Home Values

Key Takeaways:

Home values are rising faster than inflation, making homes a prized asset
This housing market offers unique opportunities for buyers and sellers
Contact us today to secure your assets and safeguard your future!

The state of real estate and inflation

As inflation soars to near 40-year highs and raises the cost of everything, many are looking for innovative ways to secure their assets against inflationary losses. Additionally, given the housing market’s recent volatility (primarily driven by historic low levels of housing inventory that have caused an imbalance between supply and demand), it’s understandable that many might consider real estate to be a wrong or risky move right now. But the great news is that nothing could be further from the truth. Let’s explore how and why buying or selling a home can safeguard you against inflation.

The housing market can protect you from inflation

Image of homes and a graph representing housing market and inflation.

Real estate remains a stable area for investment and profit realization because a home’s value does not increase in relation to currency; it increases based on demand. So if you’ve been holding back from buying because of today’s market pressures, consider that inflation is up even more than mortgage interest rates, making it a smart move. Similarly, if you’re considering selling, the demand for housing has never been greater, which is terrific news for anyone looking to cash out their equity to hedge against inflation.

Buying a home: by the numbers

Let’s take a look at some numbers. Experts estimate that Americans face an annualized inflation rate of around 15%. Considering that, the current 5% mortgage rate is a bargain for homebuyers in the short term. Moreover, you’re securing an asset that, over time, will increase. And, as you pay down your mortgage, even at 5%, your equity will continue to grow.

Selling a home: by the numbers

Senior Adult Couple in Front of Sold Home For Sale Real Estate Sign and Beautiful House.

It’s no secret to homeowners that their home equity values have grown over the last couple of years. According to research firm Black Knight, at the end of 2021, Americans were sitting on record-high home equity levels of approximately $9.9 million. So if you’ve noticed homes in your neighborhood selling above their listing price and you’ve been on the fence about selling yourself, now may be a good time to cash in on this opportunity.

Both buyers and sellers can make tremendous gains

Happy family with children moving with boxes in a new house.

In a hot housing market where home inventory is low, competition is fierce, and home equity values are at all-time highs, buyers and sellers can start to feel overwhelmed. But don’t despair: an increase in mortgage rates isn’t stopping homes from selling quickly, nor is it preventing home equities from appreciating. For example, according to the National Association of Realtors (NAR), properties remained on the market for just 17 days in March, with many going for over the asking price!

With more buyers than sellers today, current homeowners looking to sell to fight inflation have the advantage of likely bidding wars, resulting in greater profits and fast-moving homes that don’t stay on the market for very long. For those looking towards homeownership to protect their assets against inflation, reassurance comes from knowing that demand is expected to outpace supply for the foreseeable future, meaning that home equities will continue to rise. And if inflation continues, fixed-rate interest rates will drop again, creating the perfect opportunity to refinance your loan.

Get Ready to Make Your Move

The first step to buying and selling is crunching the numbers. Our team will help you find the real, up-to-the-minute value of your home using the latest microdata and neighborhood trends. Then, we’ll work with you to figure out the best strategy to shelter your investments and assets from inflation. Contact us today!

March 1, 2022June 19, 2024

Home Sellers: When Should You Reduce Your Listing Price?

Key Takeaways

Even in a seller’s market, you may still need to reduce your price
Consider if you’ve tried everything else before a price reduction
Make sure to seek the advice of your trusted realtor–we’ve seen it all before!

Even in a competitive seller’s market like the one we’re in right now, listing your home for the right price is key. Don’t count on a bidding war happening to get the price you want! Let’s take a look at what you should do before listing your home, indicators that your home is priced too high, and the strategies you can use to make the price right.

How Do I Figure Out the Right Price?

When home prices are rising quickly, low appraisals can affect your listing price. With year-over-year home prices up 17% on average nationwide in 2021—with some markets seeing as much as 35% increases—the appraisal you receive may not reflect other recent asking prices in your area.

Your experienced real estate agent will use data from the local MLS and consider other homes in your neighborhood and what they sold for recently. They’ll also consider tax data, your property’s previous sale price, and even micro market trends. Working with an agent in such a fluid, dynamic market is essential to getting the price right.

Since your largest pool of buyers often finds your home within the first 21 days of listing, try to list your home at the right price from the start. If you’re not seeing the offers you thought you would, make an adjustment quickly before the initial interest fades away.

If the first week of listing your home isn’t resulting in offers, especially in a market this hot, that’s a red flag your home is overpriced. However, if you’re getting offers, and they just aren’t meeting your listing price, it’s a good sign you’re in line with the market and may need a small decrease.

How Do I Know When to Lower the Price?

Image of a couple working with a real estate agent.

It’s exciting to list your home in such a historic market, but moving too fast and forgetting the basics can hurt your chances of success. Work with your real estate agent to market your home. This includes cleaning and decluttering your home, staging rooms, taking attractive photos, and communicating the value of the property in the listing.

Rely on the most recent data to find the sweet spot for price. You’ll want to consider homes recently sold within a mile or two of your home, especially ones with the same number of bedrooms and bathrooms and square footage within 20% of your home that closed within the last 90 days.

If all of that is said and done and you’re not receiving any offers, you may need to lower the price. Even in a seller’s market, selling over asking or enjoying a bidding war for a higher price is not guaranteed. Make sure you know the lowest price you’re willing to accept before you list your home, so making a change won’t feel like taking a loss.

When it comes to finding the new price, there are a few things to consider. While the general advice is to lower anywhere from 0.5% to upwards of 3%, you also want to pay attention to your price bracket and what buyers are searching for. If lowering your price brings you down from $410,000 to $398,000, that will open up your home to a new pool of buyers searching for homes under $400,000.

Price Your Home Right from the Start

Real estate is a continual learning process, and it takes effort to figure out the right price. That’s why you should work with our experienced, trusted team to get started out right! Contact us today to find the true value of your home based on the most recent, up-to-date, micro-economic data available. Our team is here to help you sell your home for top dollar.