Is 2019 the year you're going to sell your home? Home prices are up, and they're projected to increase throughout 2019. Not only is this great news for sellers, but buyers are more likely to jump on board knowing that home prices will only continue to rise along with mortgage interest rates. In 2016, we saw home prices rise nationally about 6% and this years projections are anywhere from 4 to 5%. Inventory of existing homes is still historically low, which means that prices will naturally rise. It also means that more developers will be creating new homes and new subdivisions.
If you're thinking of selling, here are some steps to take to get your home sold quickly and for the best possible price.
Listen to your real estate agent.
Your real estate agent is really your "go to" person for pricing your home correctly and doing the necessary upgrades, repairs and updates. The goal is to get the most buyers through the door and the best offers on the table. Living in your home for some time can make you oblivious to things that buyers will notice in an instant. This is the time to consult your real estate agent, take their advice and seriously consider the market value of your home, both in its current condition and if you did some needed upgrades.
Don't over improve.
Don't just jump on the home improvement bandwagon and upgrade everything with the finest material out there because chances are you're not going to get the right return on your investment. Talk to your real estate agent about the best upgrades or updates to make that will really boost your home's value and give you the best rate of return. Read More: 8 Home Improvement Myths That May Not Increase Value
Price it right.
This doesn't mean over price it and then lower the price if you don't get any bites. The pitfall to that type of thinking is that by the time you finally lower the price to where it should be, it's already been on the market too long. And that means you'll probably have to lower it even more to get a buyer. Listen to your real estate agent and price it correctly from the beginning to get the most and best buyers through the door.
Many homeowners think that just because it's a hot real estate market, they'll get an offer the same day or by the end of the week. This may or may not happen. You must be patient. It is my job to market and advertise your home to the proper targeted buyers, but it's your job to keep the home clean, show ready and be reasonable with showing instructions. If the buyer can only see your house two days a week during a certain time frame, you're probably not going to get a lot of interest or showings.
Be patient, reasonable, and keep the house in tip-top shape while it's on the market. All of this combined with pricing it correctly, will get your home sold quickly for the best price the market will bear.
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