Home sellers in the greater Anchorage area who are considering selling their home this year couldn't ask for a much better time to do it than now. While other states are experiencing a glut of homes on the market depressing values, the housing supply, particularly in Anchorage and Eagle River, is currently quite low. This creates a good environment for would-be sellers to take advantage of the situation to put their house on the market soon. Adding to this, more home buyers have entered the market hoping to take advantage of generous Federal Tax Credits before they expire, driving up demand. Anchorage is enjoying a very active pre-spring marketing season in terms of sales activity as a result.
Tips for Sellers:
1. Don't procrastinate: If you're thinking of selling, now might be the best time of the year to do so. Interest rates are extremely attractive, hovering around 5%, and home buyers who are eligible to take advantage the tax credits must be in a binding contract BEFORE April 30th and closed before June 30th.
2. Make the best first impression you can: If you list your house, be sure to have it in tip-top shape. The number of homes on the market is low right now, make sure yours stands out and "shines." Consider the services of a professional staging company to get top dollar. Homes that present themselves well (attractive, inviting, clean, & uncluttered) will sell faster and for more money.
3. Price it properly to start with: Overpricing your home will only help sell the competition. The notion of overpricing to build in negotiation room, or thinking that "we can always reduce the price later if it doesn't sell," ALWAYS backfires on the seller and ultimately results in a longer market time and lower sales price.
For more information on the real estate market, or for a Market Analysis for your home's value, call today and I will be happy to assist you.