Spring has officially sprung and the housing market is continuing to take off. Each year the market takes a different tone. One year it’ll be a sellers market with inflated prices and bidding wars, while other years will have an influx of inventory, driving prices down. There’s no doubt that spring 2016 will have some of the most activity seen in years. If you’re planning to sell your home, here are 5 insights that will give you a head start.
- Right now is a great time to sell
The inventory of homes that are for sale has declined meaning there are more buyers than there are sellers. Also, millennials are becoming one of the biggest groups of buyers, surpassing baby-boomers, the second largest group. Despite the Fed’s interest rate hike last December, rates have remained low. This is driving buyers to act now while rates remain low.
2. Homes sell the fastest in the summer
In 2014, 60 percent of homes were bought and sold from May to August. By putting your house on the market now, you’ll be getting a head start on the other sellers and help snag a winning offer.
3. Price it right
Prices have been increasing over the past couple of years, but recently have plateaued. Pricing your home right it crucial to selling your home in a timely manner. With a fluctuating market, the best way to price your home is to research recently sold homes in your area. When researching recently sold homes, don’t look past more than 60 days. The more recent a home is sold a better picture will be painted for pricing your home.
4. It pays to be ahead
By listing your home now you’ll be jump starting the competition. Before listings become filled by May and June, your home will have a chance to be in the spotlight. Also, buyers who are looking now are typically more serious than ones who begin searching in the summer.
5. Make your home pop off the screen
In this highly visual and technological era, your home has to grab the attention of buyer through their screens. This means creating a home that not only looks great in person, but through a computer or smartphone. Today, almost all home searches begin online. If your home listing has mediocre photos, potential buyers will quickly be on to the next. Your photos should be of the highest quality, with the right angles and lighting. Within 60 seconds of looking at your home online, prospective buyers know if they are interested or not.
