A new year brings new opportunities! Could a move be just up on the horizon for you? If you are pondering that idea of “making a move” there are many things to consider – but one of the first things to take into consideration is your “Why?” Once that is established, everything else will fall into place as it should. We all can agree that there are many emotions that take place when thinking about buying or selling a home, never mind the emotions that come along when one actually goes through the process of buying or selling. I urge you to stay focused on your “Why” – and set your sights on the goal!
Here are just a few key things sellers should keep in mind once the decision has been made to sell their home …
Price Your Home Right
As we come out of 2022 and make our way into 2023, we can all very much agree that the housing market shifted as mortgage rates rose … forcing some buyers to go into “wait and see” mode. As a seller, you’ll need to come to terms that the market is not as they were back in 2020-2022 and setting that expectation for yourself and pricing your home appropriately based on where the market is today will be key in getting your home sold for the best value possible. Homes that don’t have any major objections and are priced well should sell quickly. Inventory is still at an all-time low in our area, which is a good thing for the sellers if you’re in the market. Supply & demand is and will always be one of the driving forces in home value, but still and all based upon other factors, such as inflation, mortgage rates, etc., experts say, we won’t see home values rise to levels that we had seen over the last 2 years – which was in the craze of the market … but moreover should hover in/around where they are, but I guess this too will remain to be seen. What I do know is pricing your home correctly is key to getting your home sold for the most value with the most suitable terms. If you price your house too high, you are not going to reach the right buyer, giving them the opportunity to make an offer on your home. If you price your home too low, you are taking the risk of leaving money on the table. As an experienced real estate professional, I can help determine what your ideal asking price should be.
Keep Your Emotions in Check
Today, homeowners are living in their homes much longer than they have in years past. According to the National Association of Realtors (NAR), the average time a homeowner have owned their home has increased from 5 to 10 years. With that in mind, it’s only natural that you become more attached to your home and find “the move” even that much more difficult. It may be that it was the first home you bought or the house where your loved ones grew up, a memorable celebration took place … you get the idea! Every room has memory, and it’s hard to detach from the sentimental value. Remember, stay focused on your “why” and set your sights on the goal!
Stage Your Home
While you may love your decor and how you’ve customized your home through the years, understand that not all buyers will feel the same way, so neutralizing your design where possible could help appeal to a larger buyer pool. Make sure you focus on your home’s first impression, which in essence is their “first showing”. As NAR says “Staging is the art of preparing a home to appeal to the greatest number of potential buyers in your market. Allow the buyers to envision themselves in the space so it truly feels like it is a place that they can call home!
In case you missed it, here is the 2022 Year in Review Market Watch. Lot’s of good market info and insights!
Laura
The Key To Your Real Estate Success
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