It’s a Seller’s Market

If you’ve gone house hunting at all this year, you know it’s a seller’s market. There are less homes on the market than in years past. Prices are rising and great houses are gone in days, if not hours. Why the seller’s market?

Even though the number of homes being built has been growing over the past 10 years, it hasn’t kept pace with population growth. Population growth, job growth and housing starts can fuel seller’s markets.

While there’s increased competition for buyers – and a quick turnaround time for offers – this only means good things for seller. Here’s how to manage this market from both sides of the fence:

So You’re a Seller

The best time to sell is NOW. VP of Real Estate Services Tim Stanford explains, “The best time to sell is when you have buyers – and we certainly have buyers! Multiple offers are happening all the time and we are even seeing bidding wars.”

Buyers are especially frantic in the Spring because grant money is available. Interest rates are at historic lows, which means more people can afford more expensive homes.

So, how do you take advantage of this market as a seller? Get on the market now while Welcome Home funds are just kicking off. Prepare the home for sale. Before anyone schedules a showing of your home, they’re going to look at pictures. Make sure your home looks great, both online and during tours. Consider lowering the asking price. You may attract more buyers this way and it leaves a little room for buyers to start bidding.

So You’re a Buyer

The best part about being a buyer? Grant money! Welcome Home funds of up to $5,000 are available on March 4.

But how do you compete in this environment when everyone is looking?

Be prepared! Get pre-approved at the financial institution of your choice. When you have a mortgage pre-approval letter before shopping, a seller will take you more seriously. You should also consider making your offer more appealing by waiving some contingencies, increasing the amount of earnest money, adding an escalation clause, writing a personal letter to the seller or even offering above asking price.

Why You Should Stage Your Home Before Sale

If you’re selling your home, you want it to look its best in order to attract more buyers and get it sold quickly and at the highest price. When prospective buyers and their realtors in Columbus, OH, are looking at homes both in person and online it’s definitely easier to consider purchasing a home that has furnishings over one that’s completely empty. That’s why many realtors recommend staging a home to get the most bang for your buck when selling. Here are some reasons realtor houses for sale in Columbus, OH, are often professionally staged.

Quicker Sale

Homes that are staged are typically on the market for a shorter amount of time than homes that aren’t staged, especially if the non-staged homes are completely empty. This is simply because there are more views and more showings when a home appears attractive on online searches and on the MLS database. Buyers are able to see the property as more of a home than just a building so they’re more likely to request showings and as a result, you’ll be able to sell your home more quickly.

More Marketable

A staged home also makes it marketable to a wider audience. Home styles that may not be a certain buyer’s preference may actually become an attractive option when the buyer is able to see what the home can be. The majority of homebuyers begin their search online, so a beautifully staged home showing the advantages of the different spaces in the home will appeal to a wide range or buyers because they can already see the potential in the home and get a better idea of dimensions when the pictures show furniture in relation to the windows, doors, and overall space.

Increased Offers and Price

Some buyers may try to make a low offer simply because of minor repairs or defects they see from pictures of an empty house. However, some stagers will make those minor repairs, which can prevent this from happening. In addition, since there will be more showings you’ll be more likely to get more offers which in most cases drives the price up and results in you getting more money that you would have without staging your home.

More Favorable Opinion

A staged home will provide prospective buyers with a better first impression before they even see your home. That means that they’ll be coming into the showing with a more favorable opinion of your home and how it was cared for. In addition, your home will stand out among competitors in the area. If you want to sell your house fast in Miami Dade give us a call.

Budget Options

If staging your whole home isn’t an option financially, you can choose to just stage certain areas of the home that will make the most impact on buyers. For instance, you can stage just the entryway, living room, or kitchen and still draw more buyers