Posted In:Buying, Guide, Home Improvements, Home Maintenence, Real Estate, Real Estate 101, Realtors, Selling, Staging
A new year is upon us and we have already begun to see changes in the real estate market coming into 2017. With Donald Trump in the White House it’s hard to say just exactly how real estate will shift. The “Trump Effect” is already being felt across the country as interest rates have spiked since his election. With the market being unpredictable here are a few ways you can put yourself ahead of the game and sell your home quickly.
Accept Advice From Your Agent
It is not only smart to ask for advice from your real estate agent but you should use it to your advantage. They might offer suggestions on big changes that you might not agree with but understand that your agent is a professional and usually has many years of experience. They like you, want to get your home sold as quickly as possible.
Educate Yourself In The Costs Associated With Selling
If you’re a first time home seller, the cost of putting your home up for sale may be alarming. If finances are a concern you may want to educate yourself on all of the costs associated with a home sale. Here is a list of some of the fees you can expect to pay during the selling process:
- Escrow Fees
- Realtor Commission
- Title Search
- Attorney Fees
- Transfer Tax
- Property Appraisal
For a more extensive list on the costs associated with the sale of a home click here.
Prepping For A Sale Can Take Months
Many buyers are looking for a home that is move in ready. If you have an older home there may be some updates you could do to help speed up the sale process. Typically buyers look for things like new flooring, updated kitchen and bathrooms. A fresh coat of paint is always a nice touch! If you are selling with an agent they should have some great tips to help you decipher the pressing issues. In addition having a home inspection or appraisal early on can let you know where your home stands.
The Price Is Right
The market currently stands with a shortage of homes and high buyer demand. Experts forecast that millennials will take up less of the buying power than expected as interest rates continue to rise. You’ll want to work closely with your realtor to set your home at a competitive price. Your agents pricing strategy will depend on your market conditions. Be prepared that the price point may be lower than you expect. If you are looking for a quick sale you should stick with the price your realtor decided on.
If you are updating and getting ready for a sale make note not to over improve the home. Getting your abode in great shape may mean making some improvements, updates, and upgrades. First off keep things neutral, just because red is your favorite color and you thought a feature wall in the master bedroom would look great doesn’t mean your buyers will agree. Do your homework and educate yourself on home improvements and understand that typically you will not earn back all of the money that you spent on the renovations.
If your home is clean, smells great and looks well taken care of this will give you a major edge with buyers. Stage and keep your home tidy to prepare for open houses and showings.