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Tag: <span>how to sell your house</span>
Year-Over-Year Price Increases and Lowest Inventory in History
The median price of Valley detached homes in March was $549,000, which is 27.3% above last year. The attached home median price in March was $345,000, up 15.4% over the last twelve months.
Prices are expected to continue moving higher by following the seasonal pattern of reaching highs in May before pulling back. Seven cities how have median price increases for detached homes over 20%, with two up more than 30%. It should also be noted that five cities have exceeded the historic price highs they made in the year 2006, with two more only fractional percentage points away.
The three-month average of total sales is now averaging 1,129 a month, which is 39% higher than last year. Due to seasonal forces, average could reach 1,200 units, or higher, over the next two months and sales staying in the high range.
Inventory continues to decline and as of this writing, there are 707 units for sale. That compares to 3,034 units a year ago. Continued high sales and lower inventory has again driven the “month of sales” ratio to new historic lows. It is now just 4/5 a month, or just a little over three weeks. A year ago, the ratio was 3.7 months. This lack of supply is causing bidding wars amongst the many home buyers and is the force driving home prices much higher.
If you are considering buying, the time is now. I see the current trend of appreciation continuing for the next few years.
If you are considering selling, now is a great time. Most homes sell within days. Don’t get left behind.
Put me to work for you! Please don’t hesitate to contact me for specifics.
We all want to be good neighbors. But when it comes to selling your home, it’s not just about “keeping up with the Joneses.” It’s about outshining them at every opportunity!
If you’re looking to sell your home fast and for the most money possible, you’ll need a strategy to set it apart from all the other listings competing for buyers in your area. That’s why I’ve outlined a proven, five-step plan for serious sellers.
Use these five tactics to help your listing get noticed, win over buyers, and net a higher sales price than your neighbors!
STEP 1: Stage Your Home to Show Its Full Potential
The average seller will do the minimum to prepare their home for market: clean and declutter, fix anything that’s broken, mow the lawn. And while those tasks are essential, today’s buyers want more than just a clean house and tidy yard. When they dream of buying a new home, they envision a designer house with modern finishes. Help them see your property’s full potential.
Home staging is one of the hottest trends in real estate – because it works! According to the Real Estate Staging Association, homes that are professionally staged spend 73% less time on the market.
So what exactly is staging? In a broad sense, staging is the act of preparing your home for market. The goal is to highlight your homes’ strengths, minimize any deficiencies, and help buyers envision themselves living in the space. When staging a home, you might rearrange the furniture to make a room feel larger or remove heavy draperies to make it appear brighter.
Some sellers choose to hire a professional home stager, who has specialized training and experience to maximize the appeal of their home to the largest number of potential buyers. Others may opt to do it themselves, using guidance from their agent.
I can help you determine the appropriate budget and effort required to push your home ahead of the competition in your neighborhood. The good news is, an investment in staging pays off. A 2018 survey found that 85% of staged homes sold for 6-25% more than their un-staged neighborhood homes.
STEP 2: Draw Buyers in with High-Quality Photos
You only have one chance to make a first impression with potential buyers. And many buyers will view photos of a listing before they decide whether or not to visit in person. In fact, 87% of buyers find photos “very useful” in their home search. Poor quality or amateur-looking listing photos could keep buyers from ever stepping through the door.
Since good photography plays such an important role in getting your property noticed, I only work with top local professionals to photograph my listings. But I don’t just rely on their photography skills when it comes to showcasing your home.
I go the extra mile to ensure your listing photos showcase the true essence of your home. I’m always on site during the photo shoot to help the photographer capture the best angles and lighting, and to let them know about unique or compelling selling features that they should photograph. The extra effort pays off in the end. In fact, listings with high-quality photography sell 32% faster than the competition… and often for more money.
STEP 3: Price it Properly From the Start
Even in a strong real estate market, there are homes that will sit unsold for months on end. This can be the “kiss of death” in real estate, as buyers tend to imagine that there must be something wrong with the property, even if it’s not true.
But why are those houses still on the market in the first place? It’s because they are often priced too high.
Every buyer has a budget. And most will be viewing listings within a particular price range. If your property is overpriced, it can’t properly compete with the other houses they’re viewing that are priced correctly. Which means it’ll sit on the market until you’re eventually forced to drop the price.
Alternatively, if you price your home aggressively, it can be among the nicest homes that buyers have seen within their budget. This can lead to emotionally attached buyers, who are often willing to pay a premium or settle for few seller concessions. In certain markets, it can lead to multiple offer situation, or bidding war. The end result? More money in your pocket.
I can help you determine the ideal listing price for your home in the current market. Pricing it properly in the beginning is the best way to ensure a fast and profitable sale.
STEP 4: Put on A Good Show at Each Showing
Once buyers are interested enough to schedule a visit, it’s critical that you put on a good show at each showing.
The first step is to make your home readily available – and often on short notice – for buyers to see it. A missed showing is a missed opportunity to sell your home. If you set too many restrictions on when it’s available to view, busy buyers will simply skip over your listing and move on to the next one.
Part of making your home available means keeping it relatively show-ready as long as it’s on the market. Most of us don’t live picture-perfect lives, and our homes reflect the day-to-day reality of our busy (and sometimes messy) families. But a little effort spent keeping your home clean, fresh-smelling, and ready for buyers will help it sell faster… which means you can get back to your regular routine as quickly as possible!
STEP 5: Use a Proven Promotion Plan
Most agents are still marketing their listings like what was used 20 years ago… put a sign in the front yard, put the listing in the MLS, and pray that it sells. Yet, we know that 93% of buyers search for real estate listings online.
That’s why I invest in the latest training and technology – to ensure your listing appears in the places where buyers are most likely to look. My dual-level promotion strategy includes both pre-launch activities designed to seed the marketplace and post-listing activities to ensure your home stay top-of-mind with potential buyers.
By utilizing online and social marketing platforms to connect with consumer and offline channels to connect with local real estate agents, your property gets maximum exposure to prospective buyers.
LET’S GET MOVING
Are you thinking about listing your home? Get a head start on your competition! Contact me for a copy of my Home Seller Guide, which offers a complete guide to the home selling process. Or call me to schedule a free no-commitment consultation. I’d love to put together a custom platform to maximize the sales potential of your property!