Dabl at Home
Learn Why It Might Not Be A Seller’s Market For Much Longer
With more homes being listed for sale, you’ll need to take extra steps to make sure your house stands out if you are planning to put it on the market soon!
For more than a year, the real estate world has been a seller’s market. However, recent findings from CNBC indicate that the market is shifting to favor homebuyers instead. At the beginning of the year, homebuyers seemed to feel a sense of panic about finding the right home during the housing shortage that has plagued the country. Now, that sense of urgency has faded right on time for the amount of homes available for sale to significantly increase. For the first time, the amount of homes listed now exceeds the amount of available properties prior to the COVID-19 pandemic in 2019.
Not wanting to deal with multi-offer situations and waiting for more inventory, many potential homebuyers have been biding their time during their house hunting. In fact, a monthly housing sentiment survey conducted by Fannie May in June of 2021 found that 64% of respondents feel now is actually a bad time to buy a new home, which is a nearly 10% increase from when the same survey was conducted in May of 2021. So if you’re planning to sell your home in the near future, you need to be sure that it stands out to potential buyers so you get the best offer as quickly as possible.
Make a good first impression.
The key to enticing qualified homebuyers is making a good first impression with your curb appeal and landscaping. When your home looks beautiful on the outside, potential buyers will be eager to see what’s on the inside. Conversely, homes that look poorly maintained or in obvious need of repair may be passed up by potential buyers without a second thought. Therefore, it’s important that you take the time to spruce up your home’s curb appeal and landscaping prior to listing your home. For more tips and tricks on perfecting your curb appeal and helping your home stand out, make sure to read some of our other articles!
Stage your home well.
Once you’ve attracted potential buyers to your home with your stunning curb appeal, you want the good first impression your home has made to last when people come inside for a tour. In order to do this, make sure you’ve staged your home well and have cleared out clutter and trash prior to setting up any viewings. Try to show off your home’s flow, embrace natural light, and make rooms appear larger. Many people will also use appealing scents to make potential buyers picture themselves at home, such as baking cookies or lighting scented candles before showings.
Set the right asking price.
Setting the right asking price can make all the difference when it comes to stirring up interest in your home. The right price could determine if your home ends up in a multi-offer situation where you sell for over asking price, or if you hear nothing but crickets. We recommend working with a qualified real estate agent who can guide you in choosing a fair price that will spark interest in your home, while also allowing you to earn a decent profit on the sale of your house. As part of this process, you will need to evaluate your home’s value and how the profits from the sale of your home may be subject to taxes. Learn more about potential taxes on your home and how you may be exempt from taxation here!
Understand the market.
Whether you are selling or buying a new home, it’s important to keep your eyes and ears peeled for news of changes in the real estate market. Staying apprised of current trends and events will help you be more competitive as both a buyer and a seller. Keep an eye on your neighborhood or neighborhoods where you may want to move extra closely, as trends may vary in different locations.