Carla Ness' Blog
As the new year approaches, you may wonder what changes are ahead for you and your family. If you have been thinking about selling your home in the coming year, there are a few pretty good reasons to do so. Read on, and you may find some new real estate goals for the new year.
There’s Not A Lot Of Inventory
If the inventory is low, you’ll find that it’s a great time to put your home on the market. Your home will sell a bit faster and attract more buyers. If the market is particularly busy, you may get an even better price than expected for your home.
People Want Homes Fast
Certain times of year bring a bit more urgency to the market. Employees may be more apt to have transfers within their company. Families may be looking to move in before the start of the school year. These situations can get your home off the market fast for the right price.
The Seasons Of Real Estate Are Different
While we typically think of spring as starting in late March, spring in the real estate world actually begins in January. Once the holidays are over, it’s believed that people are ready to make moves with their properties. This early season holds especially true in warmer climates. It’s thought that the earlier in the year a home is listed, the more it will stand out on the market. If you’re listing a house in a warmer climate, keep in mind that people who are looking to escape cold climates are looking to buy in the early months of the year.
Keep in mind that if you do live in a colder climate and plan to sell and your property has some great outdoor space, you may want to wait until a warmer time of year to sell.
The Lower The Price Of The Home The Faster It Moves
If your home is on the lower end of the price spectrum, you may be able to sell whenever you’d like., These home are attractive to first-time buyers and move fast off the market. They’re great for starter homes, fixer uppers, and house flippers.
The bottom line is that in a hot market there may be no wrong time to sell. If you speak with a REALTOR® and they believe the time is right, and you’re itching to move on to another property you should. Real estate agents have the knowledge and experience that can help you to find the right time to sell as well as the sweet spot for pricing your home.
Like it or not, selling your home can be a tumultuous time. As such, you may experience a wide range of emotions after you add your house to the real estate market.
Some of the most common feelings that home sellers may experience include:
Selling your home can be exciting. In fact, the home selling process represents a time of change, one that enables you to move on to bigger and better things.
For home sellers, the sheer volume of home selling options may excite you as well. At this point, you'll need to consider the asking price for your home, whether to complete various home improvement projects and other home selling essentials. Plus, you'll need to consider where you'll go after you sell your residence.
With an experienced real estate agent at your disposal, you should have no trouble staying excited throughout the home selling process. Your real estate agent will ensure that you have a plan in place to sell your house and relocate after it sells.
Furthermore, your real estate agent will keep you informed about home showings, offers on your residence and much more. He or she will do everything possible to stir up interest in your home and create plenty of excitement about your residence among potential homebuyers too.
When the time comes to finally leave your home, it can be difficult to relocate.
Sadness is common among home sellers, particularly as the home selling process progresses. For example, you may feel sad as you look back on all of the great memories of your house. And after you receive an offer on your residence, you may start to realize that your time in your current residence is running short.
If you ever feel sad during the home selling journey, reach out to your real estate agent. He or she is available to support you through the ups and downs of the home selling journey. Also, your real estate agent understands the challenges associated with selling a house and is happy to support you in any way possible.
Elation arrives on the day that you sell your house. At this time, a homebuyer will be ready to purchase your residence, and you and the homebuyer have agreed to terms. Now, you just need to finish the final paperwork, and you will complete the home selling journey.
Your real estate agent understands that the home selling journey may seem endless at times. However, this professional will offer expert recommendations and suggestions to ensure you can get the best results possible.
In addition, your real estate agent wants the home selling process to be seamless. To accomplish this goal, he or she will allocate the necessary time and resources to promote your residence to potential homebuyers. By doing so, your real estate agent will make it simple to accelerate the homebuying journey.
Employ a real estate agent to help you sell your house, and you can speed up the process of selling your house.
Is now the right time to lower the asking price for your residence? If you've studied the housing market closely, set an aggressive price for your home and are still struggling to generate interest in your residence, the answer to this question may be a resounding "Yes."
Ultimately, there are many reasons why you may want to consider lowering the asking price for your house, including:
1. It has been many weeks or months since the last home showing.
Although your home listing initially may have stirred up plenty of interest, homebuyers have shied away from your residence over the past few weeks or months. Thus, there may be no time like the present to lower your house's asking price to widen your net of prospective homebuyers.
Reducing your house's asking price by even a few thousand dollars may help you generate interest in your residence. And in the days following a price drop, you may notice a significant increase in the number of requests for home showings as well.
2. Your home asking price no longer corresponds to the current real estate market's conditions.
A seller's market can quickly morph into a buyer's market. As such, you should evaluate the real estate sector regularly to ensure your home asking price corresponds to the current housing market's conditions.
Take a look at available houses that are similar to your own – you'll be happy you did. This housing market data can help you determine if your house is priced appropriately based on the competition.
Also, examine the prices of recently sold houses in your city or town. That way, you can see how long these residences were available before they sold, find out whether you're operating in a buyer's or seller's market and plan accordingly.
3. You need to sell your house as soon as possible.
If you face a time crunch to sell your home, you should establish an aggressive price for your residence from the get-go. However, if you fail to generate substantial interest in your residence, you may need to act fast to lower your home asking price to meet your deadline.
For those who want to avoid the possibility of lowering a house's asking price, it often pays to work with a real estate agent. This housing market professional can help you establish a fair, competitive price for your residence, one that should help you stir up significant interest in your home.
In addition, a real estate agent will work with you throughout the home selling process. He or she will set up home showings, host open houses and negotiate with homebuyers on your behalf. Perhaps best of all, a real estate agent is happy to respond to your home selling questions and ensure you can make informed home selling decisions.
Before you lower your home asking price, consult with a real estate agent. By doing so, you can get the expert home selling advice that you need to determine whether to wait out the current housing market or reduce the price of your residence.
After you accept an offer on your house, what happens next? Ultimately, there are several steps that will need to be completed to finalize a home sale, including:
1. Completing a Home Inspection
A home inspection may be completed only a few days after you accept a homebuyer's offer. This evaluation enables a homebuyer to conduct a thorough examination of all aspects of your home, and if necessary, rescind or renegotiate a proposal.
For home sellers, it is paramount to maintain a direct, upfront approach with homebuyers. If you are honest with homebuyers from the get-go, you may be able to avoid problems when it comes time to complete a home inspection.
With an experienced real estate agent at your disposal, you should have no trouble establishing realistic expectations for your home. Plus, your real estate agent will offer recommendations for home repairs and upgrades, ensuring that you can complete the necessary home improvement tasks before you add your residence to the real estate market.
2. Performing Home Repairs and Upgrades
If a homebuyer discovers major problems with your house during a home inspection, he or she may request home repairs or upgrades. In this scenario, you may be required to perform various home improvement tasks to finalize an agreement.
Home improvement tasks can be expensive and time-consuming, but they sometimes are necessary to ensure that you can reach the finish line of the home selling process. If you ever have concerns or questions about home repairs and upgrades, your real estate agent should be able to respond to your queries at any time.
Furthermore, if you feel like a homebuyer's home repair and upgrade requests are unwarranted, you can always decline these requests. If you choose this option, however, the homebuyer could rescind his or her offer on your home, and you may need to restart the home selling process from stage one.
On the other hand, you can always try to negotiate with a homebuyer. For example, if you offer to lower the price of your house after an inspection, you may be able to speed up the home selling cycle and avoid making a significant time investment to perform property repairs and upgrades.
3. Packing Up Your Belongings
After a homebuyer finishes an inspection and agrees to purchase your home in its current condition, you'll be able to set up a closing date. You'll also need to consider where you'll go next and plan accordingly.
Packing up your belongings is essential, and you may want to put various items in storage if you plan to live in temporary housing in the foreseeable future. In addition, you'll want to set up plans to get all of your belongings out of your residence before the closing date to ensure that the homebuyer can move into the house on schedule.
Selling a home may seem tricky, especially for those who are uncertain about how to navigate the home selling process. Luckily, your real estate agent is happy to support you in any way possible. As a result, you can work with your real estate agent and guarantee that the home selling process is completed quickly and effortlessly.
As a home seller, there is always a chance that you may receive a lowball offer on your house. When this happens, you might feel disappointed and frustrated and be ready to move on to the next offer. However, a lowball offer may set the table for a negotiation, particularly for a home seller who knows how to respond to this proposal properly.
Ultimately, it is important to assess any offer on your home, even if this proposal fails to meet your initial expectations. And even though it may be tough to take a lowball offer seriously, you'll want to consider the pros and cons of it before you make your next move.
What does it take to assess a lowball offer on your home and counter it accordingly? Here are three tips to help a home seller do just that.
1. Stay Focused on Your Goals
For home sellers, you want to sell your home, maximize its value and move through the home selling process as quickly as possible. As such, you'll want to keep these goals in mind any time you receive a lowball offer.
If you receive a lowball offer, remain focused on your goals, and try not to get too emotional about it. With this approach, you'll be able to remain calm, cool and collected and respond to the proposal without the risk of burning any bridges between you and a potential homebuyer.
2. Respond to the Homebuyer's Offer
What you might consider to be a lowball offer may be a fair proposal in the eyes of a homebuyer. Thus, you should respond to a homebuyer's proposal, regardless of whether you consider it to be a lowball offer. By doing so, you may be able to open the lines of communication and help the homebuyer better understand what you consider to be a fair price for your residence.
After you receive a lowball offer, you may choose to pass on it and can relay your decision through your real estate agent. In this scenario, you can let the homebuyer know that you appreciate his or her offer but are going to pass on it. That way, you can decline the proposal politely and await offers that fall in line with your expectations.
Comparatively, you might decide to counter a homebuyer's initial offer, and your real estate agent can pass along the information about what you would be willing to accept for your house. By countering a homebuyer's offer, you may be able to begin a negotiation that could help you accelerate the home selling process.
3. Establish Realistic Expectations
Pricing your home competitively from the get-go is paramount for any home seller. With a competitive price, you'll be able to set realistic expectations for homebuyers and may be able to avoid the risk of receiving a lowball offer entirely.
When it comes to determining a fair price for your house, consult with your real estate agent. Remember, your real estate agent possesses industry experience and can help you set a fair price for your house based on the current real estate market's conditions.