The price of any item is determined by the supply of that item, as well as the market demand. The National Association of Realtors (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their Realtors Confidence Index. Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).
Now that the housing market has stabilized, more and more homeowners are considering moving up to the home they have always dreamed of. Prices are still below those of a few years ago and interest rates are still around 4%. Sellers should realize that waiting to make the move while mortgage rates are increasing probably doesn’t make sense. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain budget for your monthly housing costs.
Here are five reasons listing your home for sale this summer makes sense.
1. Upgraded Kitchens and Bathrooms sell home Swap out your old counter tops with granite/quartz counter tops Upgrade to stainless Steel Appliances Clean grouts, replace the old mirror with picture frame mirror, buy new towels 2. De-Clutter Buyers love a home that is clean and does not have too much clutter Too much clutter can make a buyer feel stressed and negative while viewing your home Plan ahead! If your thinking of selling in the near future it is never too early to start cleaning and de-cluttering 3. Re-paint the house, inside & out Re-painting can be one of the least expensive preparation for getting your home read to sell Pick colors that will feel inviting and evoke emotions of warmth and joy Plan ahead! If you’re thinking about selling in the near future it is never too early to start preparing 4. Maximize lighting Remove heavy draperies, buyers value great lighting Clean all windows inside and out Open all blinds to maximize the sunlight
You may want to hide during the ides of March, but the ides of May are the perfect time to put a home on the market, says a new study by Zillow. In 20 of the 25 metro areas studied, homes listed anywhere between May 1 and May 15 sold nine days faster and for up to 1 percent more than the asking price. “With 3 percent fewer homes on the market than last year, 2017 is shaping up to be another competitive buying season,” said Zillow Chief Economist Dr. Svenja Gudell in a statement. “Many [homebuyers] who started looking for homes in the early spring will still be searching for their dream home months later. By May, some buyers may be anxious to get settled into a new home — and will be more willing to pay a premium to close the deal. Mark your calendar for a Saturday in May Moreover, Zillow’s research revealed the best day to place a home on the market is Saturday — listings that appear on Zillow’s site on this day garner 20 percent more views than early-in-the-week listings. The second best day to list is Friday, when properties receive 14 percent more views. Lastly, Gudell says sellers have to be cognizant of other factors, such as weather. Sellers in Texas, California and Florida have more leeway in when to list their home due to warmer weather patterns. Also, sellers who live in areas without distinct seasonal weather tend to have little variation in sales price based on the month. Thinking of selling? Call Paul Young at (949)838-6328 for a free no obligation consultation today. Article image credited to Kusska / Shutterstock.com Source: The Best Month And Day To Put A Home On The Market, According To Zillow