This year not only did the Spring Market start early, it is HOT! No, I DO NOT mean the temperature as we actually even got snow TODAY, at the end of April. UGH! I mean the ACTUAL market! It seems that every house I show or list is flying right off the market almost before there is a sign in the yard! It's amazing, really!
So, what's going on? Inventory. It's basically the exact definition of Supply and Demand! There are plenty of buyers out there looking, but there aren't enough listings to support those buyers. If you have been thinking about selling, NOW is the time to get a market analysis from your favorite Realtor and find out what your could potentially sell for!
So, why are some listings sitting on the market still? Here are just a few reasons why those houses may not be selling:
1. Price. Many times the amount your home is "worth" is not necessarily what a buyer is willing to pay for it. If you have been on the market (in this market) for a month and have had less than 10 showings or lots of showings and no offers, then you are over priced according to what buyers are looking for. It's time to consider lowering your price to an amount that is more acceptable to the buyers your particular type of home is appealing to.
2. Staging. A home needs to be staged with modern comforters on beds, as sparse as possible (you're moving, pack what you don't need and put it in storage), Neutral paint colors if possible (lots of buyers aren't able to see past the color on your walls), as little furniture as possible in a room (Your agent can help with this - remember, you're moving, so it's time to downsize your rooms). There are many other ways to stage the home, your Realtor should be able to guide you through the process or recommend a professional Stager you can hire.
3. Items out of your control. These are comments from showings like: "The garage isn't big enough", "The back yard is too small", "There is too much traffic on this road", and many other similar comments from showings that you just absolutely cannot control! This is, however, another time when considering a price reduction may be in order. Why? Because often buyers will compromise on some items in their criteria if the price is right. However, sometimes it just takes the RIGHT buyer to see your home. It really just depends how quickly you need to sell.
4. Too much stuff in your house or NOT CLEAN. You have to think about selling your home as a business deal, not an emotional one. You are moving, pack your things and put them in storage. IF you don't like to clean OR you aren't sure if your home is clean or not, ASK! Houses should be sparkling clean! Why? Buyers can be very finicky. They are about to make what could be the LARGEST investment of their lives! They want to see a clean, neat home that looks to be well cared for with lots of room! They need to be able to see themselves there. They need to be able to think it may be somewhere they would like to live.
All in all, the market right now is in favor of Sellers, so it's a great time to sell your home!
However, it's a fantastic time to be a Buyer as well due to continued historically low interest rates as well as the fact that home prices have not completely recovered from when "the bubble burst".
Call, text or email me today to request your FREE market analysis of your home or if you'd like me to start helping you find the home of your dreams (OR BOTH)!! I look forward to working with you soon!!