Imagine you in your dream home.
What does life look like? Maybe you picture the kids playing in the yard, laughter around the dinner table, having a friends and family get-together, or being snuggled up on the couch by the fireplace.
Well, if the home you already own is standing between you and your dream, this could be the year you bring that vision to life.
All signs point to a stellar year for home sellers. Consider the numbers of 2018.
Buyers Outnumber Sellers in Most Markets
A recent National Association of Realtors (NAR) report found a shortage of available homes in 47 states. Buyers, on the other hand, had a strong presence in 38 states. No wonder more than a third of homes sold in less than a month! In the Greenville area, there are on average 4 homes for every 10 buyers. This means NOW is the time to sell!
Looking to sell your starter home? It could get snatched up quicker than you think. That’s because first-time buyers are finally getting back in the game—and they’re having a tough time finding homes in their price range.
This year, home sellers are pocketing an average of almost 11% more than they originally paid for their home. That’s amazing!
You Might Have More Equity Than You Think
Lots of homeowners have been sitting on the sidelines because they think they don’t have enough equity to make a sale worth their while. But your home might be worth more than you think. Nearly three-quarters of homeowners have more than 20% in equity, but many don’t realize it.
The typical home sold by an agent brought in on average $35,000 more than the typical For Sale by Owner (FSBO) home. Even if you deduct agent commission’ws, working with a pro to get your home sold still puts you way ahead of the game. We all know there’s power in numbers. A good agent brings an extensive network to the table so your home can be exposed to as many potential buyers as possible, and bring in the most money for your home.
Here are some tips for getting your home seller ready, and what you can do to get the most for your money.
Give clutter the boot and find budget-friendly DIY ways to freshen up your décor. It can be as simple as neutral paint, crisp new linens and pops of color here and there.
Be careful not to let neglected fixes trick buyers into thinking your home is more trouble than it’s worth. If you’ve got repairs to make, work with your real estate agent to determine where your fix-it dollars will do the most good.
Pay Attention to Price
Nothing scares buyers away faster than a hoe that’s too big for its britches. It doesn’t matter how hot the market is where you live. The longer an oversized price tag lingers, the more you stand to lose in the end.
That’s why it’s important to get the price right from the start. That means taking emotion out and figuring out your home’s true market value.
You can do that by asking your agent to run a comparative market analysis (CMA). A CMA report compares your home against recent sales and current listings near you, so you can see what buyers are actually willing to pay for a home similar to yours.
Is This the Right Time for You?
Of course, selling your home isn’t a decision to take lightly. You need all the facts to ensure it’s a step in the right financial direction. Here are a few signs you might be ready:
- Your home doesn’t fit your lifestyle anymore, whether you’re looking for more space or less maintenance.
- You can cash flow the prep work needed to get your home ready to list.
- You have enough equity, or cash saved, to put 10–20% down on your next home.
- Homes around you have sold quickly and close to or over listing price.
You’ll need a professional to tune in to make the most informed decision. A good real estate agent won’t pressure you into a home sale that leaves you broke, but gets the most money for your home.
If selling’s on your mind and you want a professional opinion, we can help serve your real estate needs and find the best time and price to get you top dollar for your home!