Friday, April 26, 2019 / by Pamela Glende
Spring is in the air, the weather is warming, the flowers are blooming, and home shoppers are out looking with great anticipation on finding a home.
If you are considering selling your home, Spring is the perfect time to list. As the weather warms home shoppers have come out of hibernation.
The market is a hot seller’s market with just over a month’s worth of inventory. A balanced market has 5.5 months of inventory. This is a great position to be in as a seller, but not so much as a home buyer because the competition to get their offers accepted is tough. With so little inventory and so many buyers there are plenty of bidding wars going on to get into contract on a home purchase.
My advice to sellers would be to get your home on the market as quickly as possible. The longer you wait the more competition you will have as a seller. The further we get into Spring the more listings we have. Beat the competition by getting your home on the market first. Chances are if you price your home at market value or slightly below you will receive multiple offers.
With multiple offers sellers tend to get more for their home, they can also negotiate things to their advantage like a contingency that the seller must find their next home, or the deal is off. This can be a great comfort to a seller since the inventory is low and they will also need to find a home.
Other things that can be negotiated are a rent back for the seller after closing so that they can look for a home and make an offer that is not contingent on their home selling because it has already sold and closed. This gives the seller a better chance at getting under contract on their new home.
Buyers right now are willing to do what ever it takes to get into a home, even if it means them moving in a little later than planned.
Get in touch with an experienced agent with good reviews at least a few weeks before you would like to have your home on the market. That agent will run comps on your home and give you a recommendation on the price you should list at. A great agent does their research on your home and others that have sold and are pending in your neighborhood. They will also look at what is active to see what your competition is.
The agent can give you advice on how to prep your home for selling and help you with staging your home. They may make some suggestions on what needs to be done prior to listing such as painting, decluttering, carpet cleaning and possibly some needed repairs so that you can get the most for your home. They should also give you advise about what needs to be done to spruce up your curb appeal. After all we want those home shoppers to come in the front door.
I recommend doing a pre-home inspection so there aren’t any surprises during the buyer’s home inspection contingency. This will give you peace of mind knowing the issues ahead of time and doing some needed repairs.
For more home selling tips or if I can help don’t hesitate to reach out.
Thank you for reading and have a great day!
Haven Real Estate Group