2017 will be coming to a close soon and in these last few months of the year, you might be considering selling your home. If you’ve been debating about listing your home or holding onto it for a little while longer, it might just be the perfect time to sell. Thanks to the competitiveness of the buyers’ market, you’re in the perfect position to see a return on your investment, so take a look here to learn more.
Why You Should Sell Your House Now
In many cities right now, there’s actually a housing shortage. People are looking for homes and not finding as many, so while buyers may be in a tough position, you certainly aren’t. Many people are considering selling their homes, but why should you specifically consider it?
You’re in a Seller’s Market
Right now, you’re in what realtors consider to be a seller’s market. This means that there are fewer housing listings available, so what is available usually gets bought fairly quickly. Multiple buyers often fight for one single property, which is quite advantageous to you, hence, the term seller’s market.
Low Mortgage Rates
Right now, many people have low mortgage rates which translate to lower monthly costs. This will entice buyers to take a look at your home, especially since they’ll want to lock down that low rate before it hikes past 5% in the coming years.
Home Prices are Rising
With the low inventory and mortgage rates, homes can generally be sold for higher prices. These higher prices help you sell your home, even if you suffered in terms of value during the recession. Now, if you want to sell, you’ll be able to sell without suffering much of a loss.
You Need Something New
Regardless of all the financial reasons to sell, you might want to sell for personal reasons. You might have a bigger family now, or have seen your kids move out of the house - you might even want to relocate for a shorter commute. No matter what the case is, it may fit your lifestyle better to sell.
Strategies
Next to buying a home, selling a home is one of the largest and most difficult financial decisions of your life. It can be difficult in some cases, but it doesn’t have to be. With the right strategies, you’ll have a much easier time and may be able to walk away with more money.
Price Your Home Right
The biggest mistake a seller can make is to list their house too high. Homes that don’t sell are usually too expensive, so first look at comparable houses to see what they placed their homes at.
Look through the last few years to think about what exactly you can expect to receive from your home and consider the average days those houses usually spend on the market, too. If your home has been on the market for longer than average, you may be priced a little high.
Internet Strategy
Many buyers tend to buy by looking through internet listings first and will usually buy a home within 12 miles of the one they already have. Use the internet to see what else is available around your area and what your buyers may be looking at.
Agent Help
If you’re selling with the help of an agent, as many people are these days, be sure your agent is able to back up their pricing recommendations with real facts and figures. Don’t just pick the agent who recommends you sell at the highest price.
Actually, you can even sell without the help of an agent, but you might want one despite the commission due to lack of time or expertise.
Counter at List Price
When you do finally get someone who’s given you an offer, they’ll probably come in under list price. Usually, you’ll want to counter and most people counter at below the list price.
Assuming you’ve priced everything fairly, though, it’s best to counter at the list price. Don’t waste time on lowball offers and let your buyers know that you want the money this property is worth.
Mistakes To Avoid
Not only is the whole home selling process overwhelming physically, but emotionally, too. It can be easy to make a few mistakes, but with a little more information, you can avoid many of your headaches before they even begin.
Don’t Get Emotionally Involved
Yes, this is very difficult but when you decide to sell, consider yourself a businessperson, not a homeowner. If you get too emotionally involved, it’ll be much more difficult to put your best foot forward for buyers.
Remember the emotional state of your buyers, too and what dreams they see for their own life in your house. With this in mind, minor remodels and staging can help sell your home much more quickly.
Don’t Skip Preparation
Once you’ve made your decision to sell, you probably want to get your home on the market as soon as possible. Don’t forget to make the necessary preparations, though, which is one of the biggest mistakes a seller can make.
You want to make a good first impression, so paint, make repairs, declutter and do a little landscaping to stage the home if you have to. Get the help of an agent if you need it, too.
Wrong Marketing
Next to pricing your house too high, marketing the house poorly is another huge mistake. Be sure that the photos taken are good and that there are multiple images even of just one room. Consider marketing strategies to be sure that you’re getting your house out there to the most amount of people possible.
Conclusion
It can certainly be difficult selling your home with all of the memories you’ve created over the years, but in this market, it may just be your best move.
The 2017 seller’s market is specifically meant for homeowners like you and with rising home prices, you should be able to get a good return on your investment. As long as you avoid some common marketing mistakes, you’ll be set to move forward to a new home yourself.
