St. Louis Real Estate BlogRecently posted or modified blog posts in the category - Selling Your Homehttps://www.sresells.com/blog/Copyright SRESells.com2024-03-11T09:44:14-07:00tag:sresells.com,2012-09-20:36385No One Wants To Sell Their Home.. Here's Why....Did you know that the average homeowner has nearly $200,000 in equity? This is largely due to the rapid appreciation we’ve seen over the past few years... and even though many homeowners acknowledge that the market is currently stacked solidly in their favor, most aren’t interested in selling.
Why? With historically low-interest rates locked in, homeowners are reluctant to give up their advantageous financing terms.
However, we’re still seeing record-low inventory levels, with many homeowners staying in their homes longer, despite the fact that they may actually want to move.
This is mainly due to the higher interest rates. In fact, 78% of homeowners have a rate below 5%.
If you can relate, I get it — who wants to trade in a 3% interest rate for something double that (or higher)? HOWEVER, here's something to consider... that mountain of home equity you have (which you otherwise would not have in a more typical market) can help offset the higher rate you'd be trading in for.
However, what most people don’t realize is that the mountain of home equity they have in their homes (which they otherwise would not have in a more typical market) may help soften the blow of a higher rate.
So if you’ve been thinking about making a move, consider reaching out to an agent (that’s me!) to discuss whether or not a move makes sense financially. You might be surprised!
And if you’ve been considering buying, don’t panic! Buyers are still finding homes and buying this Spring. Just make sure you have a knowledgeable and aggressive agent by your side.
Have you found yourself outgrowing your space but hesitant to make a move because of the higher interest rates? I'd love to hear your thoughts!2024-03-11T09:15:29-07:002024-03-11T09:44:14-07:00Nick Wagenknechttag:sresells.com,2012-09-20:35180Should You Sell Your Home This Year?Have you ever said to yourself, "I want to sell my home BUT...."
If you've been on the fence about selling, this post might help you to see if now might be the right time to make a move, or if it might make more sense to stay put for a bit longer.
<img src="https://assets.site-static.com/userfiles/4534/image/nickwagenknecht/Home_Selling.jpg" width="658" height="578" />
Do you feel the need to upsize or downsize?
If you’ve outgrown your home or have too much to maintain, it may be time to consider moving.
Adding an addition or finishing your basement may give you more space in your current home, however, it's important to consider whether these improvements will add value, or price you out of your current neighborhood. When the time comes to sell, the last thing you want is to lose all that money you put into the renovation.
Do you feel Like your current neighborhood is no longer a good fit?
Sometimes, it may not be the home but rather the neighborhood or area that you have outgrown. OR maybe it’s your lot or specific location. Do you want a larger yard or more privacy? Off-street parking? Access to public transportation, or want to be closer to more shopping and dining? Want to be in a better school district?
Whatever the reason, if you want (or need) to be in a different area or neighborhood, it may be time to consider selling.
Can you make a profit if you sell your home?
Do you have equity in your home? For many people, interest rates are holding them back from making a move... (I get it, who wants to trade in a 2-3% rate for a 6-7% rate)...
HOWEVER, due to the rapid appreciation we’ve seen in home prices in recent years, you may have built up a lot more equity than you would have in a more *normal* market. This increase in your downpayment should somewhat offset the higher interest rate that you’ll be trading in.
Wondering how much equity you have in your home? I’d be happy to send you a free home valuation, equity assessment, and seller net sheet so that you can decide if making a move makes sense financially.
Are you emotionally ready to sell?
Selling a home brings about a wave of different emotions. There is excitement in a fresh start, but there may also be sadness in leaving a home you’ve loved for years... all of which are completely normal.
If you can honestly answer “yes” to these questions, you just might be emotionally ready to sell:
Are you willing to remove your personal items from the home to stage it?
Can you commit to the long haul of having a house on the market and constant showings and open houses?
Are you ready to hear negative comments about the home without getting offended and defensive?
<br />Our current real estate market can be challenging to navigate, but having a solid plan and a good agent by your side can significantly impact your experience and make all the difference!
Thinking of making a move in the next 6 months? send me a message to get a free copy of my Seller guide, and let’s discuss the next steps!
2024-01-15T09:14:08-07:002024-01-15T09:39:06-07:00Nick Wagenknechttag:sresells.com,2012-09-20:34449Is It Time To Upgrade Your Home?<img src="https://assets.site-static.com/userfiles/4534/image/nickwagenknecht/1....jpg" width="525" height="350" />
More often than not, we tend to become overly comfortable in our homes, causing us to overlook the fact that we may have outgrown the space. <br />Life gets busy, and just the thought of selling, finding a new place, and establishing new routines can feel overwhelming (not to mention you might be sitting on a 2-3% interest rate).
If you’ve been contemplating whether or not it's time to make a move, I've created a checklist that should bring a little clarity to the matter.
You’re Growing
Whether you have a newborn or your kids are simply getting older, if you’re busting at the seams it may be time to find something larger.
It could be that you need more bedrooms, storage space, a finished basement, or a bigger backyard (or all of the above!) This is the most common reason people upgrade their home.
Your home needs updating
<img src="https://assets.site-static.com/userfiles/4534/image/nickwagenknecht/3.....jpg" width="525" height="350" />
When you’re focused more on the jobs that need doing rather than enjoying the space you’re in, it may be time to make a move. Not to mention, renovations are expensive.
If your current home needs costly repairs, or you dread the thought of having to go through a 6-month kitchen reno with 3 kids and a dog, a move might be worth considering.
When you’re weighing the pros and cons of a renovation or addition, don’t forget to consider resale value. You don’t want to price yourself out of your current neighborhood.
You’re working remotely
This goes hand in hand with needing more space.
If you're working from home more than you used to and require a dedicated workspace that's not your kitchen table, it may be time for an upgrade.
Alternatively, if you’re working remotely and have been dreaming of being further from the office and in a larger home, now may be the perfect time to consider a move.
Your ideal neighborhood needs have changed
Sometimes, you simply outgrow your neighborhood.
Looking for a home near a preferred school for your kids?
Or hoping to move closer to family?
If your neighborhood is no longer serving you, it’s okay to make the move to a new home.
You have equity in your home<img src="https://assets.site-static.com/userfiles/4534/image/nickwagenknecht/5....jpg" width="525" height="350" />
Many homeowners right now have an incredible amount of equity that has increased significantly over the past few years, and this equity could serve as the downpayment for your new home.
Your trusted real estate agent can help you figure out your current equity position.
This evaluation could help in your decision-making process, whether it's exploring a move or using that equity for something else —such as a renovation of your current home! How much equity you have may surprise you!
In conclusion, the decision to move is a complex one, intertwined with the dynamics of personal growth, evolving needs, and changing circumstances. Whether you find yourself yearning for more space, longing for necessary updates, adapting to remote work demands, seeking a new neighborhood, or recognizing the untapped equity in your home, the realization that you've outgrown your current living situation can be both liberating and daunting.
Embracing change opens the door to new possibilities, and assessing your unique situation against the checklist I've provided can offer valuable insights as you navigate the path to a home that truly suits the chapter you're in.
Remember, your home is a reflection of your aspirations, and by recognizing when it's time for a change, you empower yourself to create a space that aligns with the life you envision.
2023-12-13T09:00:00-07:002024-01-15T08:22:09-07:00Nick Wagenknechttag:sresells.com,2012-09-20:32126How To Create Black Friday Demand For Your Home No Matter What time of the year<img src="https://assets.site-static.com/userfiles/4534/image/nickwagenknecht/blog_photos_10.png" width="1050" height="700" class="img_box_center" />
While Black Friday is traditionally associated with retail and big-box stores, the principles of creating demand can be applied to real estate too. In this post, we'll explore strategic and creative ways to boost interest in your property, whether it's spring, summer, fall, or yes, even in the middle of the year. Let's dive in!
Setting the Stage
To create demand, you need to set the stage and make your property stand out. According to a study by the National Association of Realtors,
Homes with high-quality photos receive 118% more online views, emphasizing the importance of professional photography and virtual tours to capture potential buyers' attention.
Crafting Irresistible Offers
Just like Black Friday deals, your home needs enticing offers. Research from Zillow indicates that
homes offering incentives, such as a home warranty or covering closing costs, spend less time on the market and often sell for a higher price. Highlight these perks in your marketing materials to attract potential buyers or renters.
Strategic Pricing
Implementing strategic pricing is crucial in generating demand. According to Redfin,
homes priced just 1% below market value sell on average three days faster. Create a sense of urgency by pricing your home competitively, encouraging interested parties to act quickly.
Hosting Virtual Events
In a world increasingly connected through technology, leverage the power of virtual events to showcase your home. According to a survey by the National Association of Realtors,
95% of home buyers use online websites for their home search. Host virtual open houses or walkthroughs, promoting them through social media and email campaigns to maximize reach.
Utilizing Social Media
Harness the potential of social media platforms to create buzz around your property. According to the Pew Research Center,
69% of adults in the United States use social media. Craft engaging posts featuring high-quality images, compelling descriptions, and relevant hashtags. Running targeted ads can increase your property's visibility, reaching a wider audience.
Tapping into Seasonal Themes
While it may not be Black Friday in the traditional sense, you can infuse a sense of urgency by tapping into seasonal themes. A study by Realtor.com found that
homes listed in the spring sell 18.5 days faster than those listed at other times. Create limited-time promotions, such as offering a discounted rate for a specific period, to capitalize on seasonal demand.
In conclusion, creating Black Friday demand for your home is about strategically positioning your property, crafting irresistible offers, utilizing technology, and tapping into seasonal opportunities. By implementing these strategies, backed by relevant statistics, you can generate interest in your home year-round and potentially secure a deal that benefits both you and the buyer or renter. Happy selling!2023-11-21T10:10:00-07:002023-11-21T10:24:49-07:00Nick Wagenknechttag:sresells.com,2012-09-20:31370The Perks Of Selling your House When Inventory Is Low When it comes to <a href="https://www.keepingcurrentmatters.com/2023/09/19/your-home-equity-can-offset-affordability-challenges/" rel="noopener noreferrer" target="_blank">selling your house</a>, you’re probably trying to juggle the current market conditions and your <a href="https://www.keepingcurrentmatters.com/2023/10/18/what-are-the-real-reasons-you-want-to-move-right-now/" rel="noopener noreferrer" target="_blank">own needs</a> as you plan your move.
One thing that may be working in your favor is how few homes there are for sale right now. Here’s what you need to know about the current <a href="https://www.keepingcurrentmatters.com/2023/08/25/todays-housing-market-has-only-half-the-usual-inventory-infographic/" rel="noopener noreferrer" target="_blank">inventory</a> situation and what it means for you.
The Supply of Homes for Sale Is Far Below the Norm
When you’re selling something, it helps if what you’re selling is in demand, but is also in <a href="https://www.keepingcurrentmatters.com/2023/09/14/why-is-housing-inventory-so-low/" rel="noopener noreferrer" target="_blank">low supply</a>. Why? That makes it even more desirable since there’s not enough to go around. That’s exactly what’s happening in the housing market today. There are more buyers looking to buy than there are homes for sale.
To tell the story of just how low <a href="https://www.keepingcurrentmatters.com/2023/09/27/why-todays-housing-inventory-shows-a-crash-isnt-on-the-horizon/" rel="noopener noreferrer" target="_blank">inventory</a> is, here’s the latest information on active listings, or homes available for sale. The graph below uses <a href="https://www.realtor.com/research/data/" rel="noopener noreferrer" target="_blank">data</a> from Realtor.com to show how many active listings there were in September of this year compared to what’s more typical in the market.
<a href="https://files.keepingcurrentmatters.com/content/branded/images/20231023/20231024-The-Supply-of-Homes-for-sale-Is-Still-Low.png" rel="noopener noreferrer" target="_blank" class="lightbox-added"><img src="https://files.keepingcurrentmatters.com/content/branded/images/20231023/20231024-The-Supply-of-Homes-for-sale-Is-Still-Low.png" /></a>
As you can see in the graph, if you look at the last normal years for the market (shown in the blue bars) versus the latest numbers for this year (shown in the red bar), it’s clear <a href="https://www.keepingcurrentmatters.com/2023/09/29/explaining-todays-low-housing-supply-infographic/" rel="noopener noreferrer" target="_blank">inventory</a> is still far lower than the norm.
What That Means for You
<a href="https://www.keepingcurrentmatters.com/2023/08/30/buyer-traffic-is-still-stronger-than-the-norm/" rel="noopener noreferrer" target="_blank">Buyers</a> have fewer choices now than they did in more typical years. And that’s why you could still see some great perks if you sell today. Because there aren’t enough homes to go around, homes that are priced right are still selling fast and the average <a href="https://www.keepingcurrentmatters.com/2023/09/04/why-its-still-a-sellers-market-today/" rel="noopener noreferrer" target="_blank">seller</a> is getting multiple offers from eager buyers. Based on the latest data from the <a href="https://www.nar.realtor/research-and-statistics/research-reports/realtors-confidence-index" rel="noopener noreferrer" target="_blank">Confidence Index</a> from the National Association of Realtors (NAR):
69% of homes sold in less than a month.
2.6 offers: the average number of offers on recently sold homes.
An <a href="https://www.realtor.com/research/september-2023-data/" rel="noopener noreferrer" target="_blank">article</a> from Realtor.com also explains how the limited number of houses for sale benefits you if you’re selling:
“. . . homes spent two weeks less on the market this past month than they did in the average September from 2017 to 2019 . . . as still-limited supply spurs homebuyers to act quickly . . .”
Bottom Line
Because the supply of homes for sale is so low, buyers desperately want more options – and your house may be just what they’re looking for. If you work with a trusted local agent to get your house listed at the right price for today’s market. You could still see it sell quickly and potentially get multiple offers.2023-10-24T08:18:13-07:002023-10-24T08:24:36-07:00Nick Wagenknechttag:sresells.com,2012-09-20:30910Why Pricing Your Home Correctly Is Crucial When Selling In A Shifting Market In today’s housing market, setting the right price for your home from the beginning is not just a smart move — it's absolutely essential. If your goal is to sell quickly and for top dollar, your home must be priced competitively right from the moment it hits the market.
There’s nothing wrong with listing your home on the higher side of market value, however, overpricing your home so that there is "room to negotiate" or just to "see what happens" can backfire badly. In fact, it may ultimately end up costing you more than if you had priced your home correctly from the start.
Why?
▪️ The more you overprice your home, the fewer buyers will come to see it. Today's buyers are educated and know if a home is overpriced.
<img src="https://assets.site-static.com/userfiles/4534/image/nickwagenknecht/3rd_CAROUSEL_Page_2.jpg" width="1080" height="1080" />
▪️ Very few buyers in today’s market will even make an offer on an overpriced home — they will wait for the price to drop, sometimes before they even schedule a showing.
<img src="https://assets.site-static.com/userfiles/4534/image/nickwagenknecht/3rd_CAROUSEL_Page_3.jpg" width="1080" height="1080" />
▪️ Your property attracts the most interest (and the most serious buyers) when first listed — the most showings on a home occur within the first 30 days of the listing hitting the market.
<img src="https://assets.site-static.com/userfiles/4534/image/nickwagenknecht/3rd_CAROUSEL_Page_4.jpg" width="1080" height="1080" />
▪️ After your house has been on the market for several weeks or even months, buyers will notice the number of days on market and may assume that something is wrong with your home.
Now, here's the thing… pricing a home isn't an exact science, especially given the current landscape of constantly fluctuating and rising interest rates. There are a lot of variables to consider, and it can be tricky to get it just right. This is precisely why teaming up with an experienced agent like myself, who closely monitors the local market daily, is essential.
2023-10-03T07:54:01-07:002023-10-03T08:22:05-07:00Nick Wagenknechttag:sresells.com,2012-09-20:30603Don't sabotage your home sale avoid these common selling mistakes
<img src="https://assets.site-static.com/userfiles/4534/image/nickwagenknecht/19th_CAROUSEL_PAGE_1.png" width="1215" height="1215" />
Selling your home can be time-consuming, overwhelming, and emotional, but with the right agent to help guide you through the process, you can avoid critical mistakes that could cost you time and money (and even, dare I say, enjoy the process!)
Whether you’re a first-time seller or have been through the process before, it's important to understand these common home-selling mistakes to avoid sabotaging your sale.
Ignoring repairs before listing
Most buyers in today's market are looking for a move-in-ready home, not a project. Even minor problems can have a negative impact and cause potential buyers to be concerned about more significant (and expensive) repairs. This can create the perception that the current owners have not properly maintained the property and could indicate the presence of other issues. Neglecting to make repairs to your home before you list not only makes it less appealing to buyers but can also open you up to additional costs that result from the buyer’s inspection.
Not prepping to sell
Preparing your home to sell is crucial — this includes deep cleaning, decluttering, and staging. Further, a professionally staged home highlights its potential and helps buyers envision themselves in the space. Can't afford to hire a professional? There are numerous things you can do on your own, such as removing personal items and clutter, organizing closets and storage areas, rearranging furniture, and focusing on rooms that impress buyers most. When it comes to helping buyers visualize a space, less is more.
Not being flexible
A missed showing is a missed opportunity. One of the more common home-selling mistakes is not letting buyers in when they request a showing. By prepping your home to sell ahead of time, you will be prepared to leave at a moment's notice when someone requests a showing. Just remember, showing your house is just a temporary inconvenience.
Being unrealistic about price
Every seller wants to net the most money they can for their home, but it's important to understand that the most important factor dictating what you should price your home at isn’t what you think it’s worth but what comparable homes in your area have sold for along with current market conditions. Work with your real estate agent to analyze the market and set a competitive price that attracts attention. The worst thing you can do when listing your home is overpricing it. A home that Is properly priced from the start has the greatest chance for success!
At the end of the day, you want the home selling process to be as smooth and painless as possible. As a real estate agent, my goal is to guide you through the process, help you avoid these pitfalls, and sell your home quickly and for the most money the market will bear. Considering selling your home? Send me a message, and let's discuss your goals and next steps!
2023-09-21T07:55:42-07:002023-09-21T08:17:53-07:00Nick Wagenknechttag:sresells.com,2012-09-20:29917More Jobs And Better Pay Leads to More Buyer Demand There’s been talk about a recession for quite a while now. But the economy has been remarkably resilient. Why? One reason is employment and wages have stayed strong. Let’s look at the latest information on each one and why both are good news if you’re thinking about selling your house.
More Jobs Are Being Created
Instead of facing the job losses typical of any recession, the economy has been growing and adding jobs. <a href="https://www.bls.gov/news.release/empsit.nr0.htm" rel="noopener noreferrer" target="_blank">According</a> to the Bureau of Labor Statistics (BLS), 187,000 jobs were created in July, which is up from the 185,000 created in June. That means more people are finding work. In fact, so many jobs are being added that the <a href="https://www.bls.gov/news.release/pdf/empsit.pdf" rel="noopener noreferrer" target="_blank">unemployment rate</a> is far lower than the long-term average of 5.7% (see graph below):
<a href="https://files.keepingcurrentmatters.com/content/branded/images/20230822/20230824-Unemployment-Rate-Declined-In-July.png" rel="noopener noreferrer" target="_blank" class="lightbox-added"><img src="https://files.keepingcurrentmatters.com/content/branded/images/20230822/20230824-Unemployment-Rate-Declined-In-July.png" /></a>
A low unemployment rate means that most people who want to work are finding jobs. When people have jobs, they have steady incomes – and that can help set them up to consider homeownership.
People Are Making More Money
And data also shows hourly <a href="https://www.bls.gov/news.release/empsit.nr0.htm" rel="noopener noreferrer" target="_blank">earnings</a> have been going up pretty steadily over the past few years (see graph below):
<a href="https://files.keepingcurrentmatters.com/content/branded/images/20230822/20230824-Hourly-Earnings-Rise-4.4--from-last-year.png" rel="noopener noreferrer" target="_blank" class="lightbox-added"><img src="https://files.keepingcurrentmatters.com/content/branded/images/20230822/20230824-Hourly-Earnings-Rise-4.4--from-last-year.png" /></a>
When wages rise, people have more money that they could save or use toward buying a home. This increase in income helps offset some of the affordability challenges in the housing market today. Affordability depends on three main factors: wages, <a href="https://www.keepingcurrentmatters.com/2023/08/11/home-prices-are-back-on-the-rise-infographic/" rel="noopener noreferrer" target="_blank">home prices</a>, and <a href="https://www.keepingcurrentmatters.com/2023/08/03/how-inflation-affects-mortgage-rates/" rel="noopener noreferrer" target="_blank">mortgage rates</a>. With higher home prices and mortgage rates right now, Builder Online <a href="https://www.builderonline.com/data-analysis/employment-growth-cant-save-some-housing-markets-in-the-near-term_o" rel="noopener noreferrer" target="_blank">summarizes</a> how growing wages can help:
“The housing market has been a beneficiary of the strong economy and labor market. Many of those employed have saved money over the past few years and used those funds toward a down payment on a home.”
If you’re thinking about <a href="https://www.keepingcurrentmatters.com/2023/08/01/sellers-dont-let-these-two-things-hold-you-back/" rel="noopener noreferrer" target="_blank">selling</a> your house, a strong job market, growing wages, and the resulting buyer demand is fantastic news. It means there’s a larger pool of potential buyers out there who are in a position to pursue their dreams of homeownership.
Bottom Line
With more jobs and rising wages creating eager <a href="https://www.keepingcurrentmatters.com/2023/07/27/homebuyers-are-still-more-active-than-usual/" rel="noopener noreferrer" target="_blank">buyers</a>, there’s a lot going in your favor. Reach out to a local real estate agent so you have someone who can guide you through the process of selling your house, from setting the right price to getting your home ready to show.2023-08-24T06:44:35-07:002023-08-24T07:01:11-07:00Nick Wagenknechttag:sresells.com,2012-09-20:29706Realtors Over RobotsOnline property value estimates such as the infamous "Zestimates", are more often than not, incorrect.
<img src="https://assets.site-static.com/userfiles/4534/image/nickwagenknecht/z.jpg" width="525" height="350" />
Here's why...
The algorithm doesn't take Into account your home's condition or improvements that have been made.
<img src="https://assets.site-static.com/userfiles/4534/image/nickwagenknecht/a.jpg" width="645" height="350" />
On top of that...
The real estate market is constantly changing and evolving, and algorithms might not capture the latest changes in the local market.
Did you know?
Online estimates can be off by anywhere from 10-50%... That's a very costly margin of error.
One of the most important factors when selling your home is pricing it correctly from the day it hits the market. Too high? Buyers won’t bite. Too low? You'll leave money on the table.
Bottom line...
The only way to know for sure what your home is really worth is by talking to a local agent who knows your neighborhood and can pull recent comps.
2023-08-16T07:42:54-07:002023-08-16T08:21:03-07:00Nick Wagenknechttag:sresells.com,2012-09-20:28911Reasons A Sale Falls Through And How To Avoid Them - INFOGRAPHIC<img src="https://assets.site-static.com/userfiles/4534/image/nickwagenknecht/reasons_a_sale_falls_through_and_how_to_avoid_them.jpg" width="800" height="2000" />2023-06-29T09:26:05-07:002023-06-29T09:33:39-07:00Nick Wagenknechttag:sresells.com,2012-09-20:27721Moving Now Can Give Your House Its Day in the Sun [INFOGRAPHIC]<img src="https://assets.site-static.com/userfiles/4534/image/nickwagenknecht/Moving-Now-Can-Give-Your-House-Its-Day-In-The-Sun-NM.jpg" width="800" height="2136" />
<a href="https://www.keepingcurrentmatters.com/2023/05/26/moving-now-can-give-your-house-its-day-in-the-sun-infographic/" rel="bookmark" title="Moving Now Can Give Your House Its Day in the Sun [INFOGRAPHIC]"></a>
Some Highlights
<a href="https://www.keepingcurrentmatters.com/2023/05/26/moving-now-can-give-your-house-its-day-in-the-sun-infographic/" rel="bookmark" title="Moving Now Can Give Your House Its Day in the Sun [INFOGRAPHIC]"></a>
If you want to <a href="https://www.keepingcurrentmatters.com/2023/05/05/reasons-to-sell-your-house-today-infographic/" rel="noopener noreferrer" target="_blank">sell your house</a>, consider doing it this summer. The days are longer, the weather is warmer, and it’s a <a href="https://www.keepingcurrentmatters.com/2023/05/11/the-best-time-to-sell-your-house-is-when-others-arent-selling/" rel="noopener noreferrer" target="_blank">great time</a> for sellers.
If your needs have <a href="https://www.keepingcurrentmatters.com/2023/05/08/it-may-be-time-to-consider-a-newly-built-home/" rel="noopener noreferrer" target="_blank">changed</a>, now’s the time to <a href="https://www.keepingcurrentmatters.com/2023/05/15/homeowners-have-incredible-equity-to-leverage-right-now/" rel="noopener noreferrer" target="_blank">capitalize</a> on the <a href="https://www.bankrate.com/real-estate/housing-market-predictions/#predictions" rel="noopener noreferrer" target="_blank">low inventory</a> and <a href="https://themreport.com/news/data/03-21-2023/existing-home-sales" rel="noopener noreferrer" target="_blank">multiple offers</a> in today’s <a href="https://www.keepingcurrentmatters.com/2023/05/03/buyer-activity-is-up-despite-higher-mortgage-rates/" rel="noopener noreferrer" target="_blank">sellers’ market</a>.
Connect with a local real estate agent today if you’re ready to sell your house and move to a home that meets your <a href="https://www.keepingcurrentmatters.com/2023/05/04/how-homeowners-win-when-they-downsize/" rel="noopener noreferrer" target="_blank">changing needs</a>.
<a href="https://www.keepingcurrentmatters.com/2023/05/26/moving-now-can-give-your-house-its-day-in-the-sun-infographic/" rel="bookmark" title="Moving Now Can Give Your House Its Day in the Sun [INFOGRAPHIC]"> </a>
CTO: <a href="https://www.keepingcurrentmatters.com/2023/05/26/moving-now-can-give-your-house-its-day-in-the-sun-infographic/">https://www.keepingcurrentmatters.com/2023/05/26/moving-now-can-give-your-house-its-day-in-the-sun-infographic/</a>2023-06-01T08:18:14-07:002023-06-01T08:29:03-07:00Nick Wagenknechttag:sresells.com,2012-09-20:27471DIY Is For Home Projects Not The Sale of Your Largest AssetMany people think they can save money and sell their house easily on their own to save on commission costs. All you have to do is list your home on Zillow and people will contact you, see your house, and you’ll find a buyer. Sounds simple, right?
WRONG!
When it comes to selling your home, it's natural to want to maximize your profits and minimize your expenses. In today's world of readily available information and numerous online tutorials, the do-it-yourself (DIY) approach has become increasingly popular. While DIY projects can be a great way to save money and unleash your creativity, there are certain areas where it's wiser to leave things to the professionals. One such area is selling your largest asset – your home. In this blog post, we'll explore why DIY is more suited for home projects and why it's essential to rely on experts when it comes to selling your property.
1. Expertise Matters:
Selling a home involves a myriad of complex tasks, legal requirements, and market intricacies. Unless you have professional experience in real estate, it's challenging to navigate the intricacies of the process effectively. Real estate agents specialize in the art of selling homes and possess valuable expertise in areas such as pricing, marketing, negotiation, and legal documentation. Their knowledge and experience can make a significant difference in the success of your home sale.
2. Proper Pricing:
Determining the right price for your home is crucial to attract potential buyers and secure the best possible deal. While there are online tools available that provide estimates, they often lack the context and detailed analysis required to accurately assess your home's value. Real estate agents have access to comprehensive market data, recent sales records, and neighborhood trends, allowing them to perform a thorough comparative market analysis (CMA) to determine an appropriate listing price. This ensures that your home is competitively priced, maximizing its chances of selling quickly and at the right price.
3. Effective Marketing:
Selling a home involves more than just placing a "For Sale" sign in your front yard. Successful marketing requires a well-rounded strategy encompassing online listings, professional photography, virtual tours, staging, open houses, and targeted advertising. Real estate agents possess the marketing skills and resources to showcase your property in the best possible light and attract qualified buyers. They have access to multiple listing services (MLS) and extensive networks to expose your home to a wide range of potential buyers, increasing your chances of finding the right buyer quickly.
4. Negotiation Expertise:
Negotiating the sale of a home can be an intricate dance, with potential buyers and their agents aiming to secure the best deal for themselves. Real estate agents are trained negotiators who can navigate these negotiations on your behalf. They understand the psychology of negotiation, possess market insights, and have experience dealing with various buyer strategies. Their expertise helps ensure that you receive the best possible offers and favorable terms, protecting your interests throughout the process.
5. Legal and Administrative Considerations:
Selling a home involves a considerable amount of paperwork, legal contracts, and compliance with local regulations. Mistakes or oversights in these areas can lead to costly delays, legal disputes, or even the sale falling through. Real estate agents are well-versed in the legal and administrative aspects of the home-selling process. They can guide you through the necessary documentation, ensure compliance with local laws, and minimize the risk of errors that could jeopardize the transaction.
<img src="https://assets.site-static.com/userfiles/4534/image/nickwagenknecht/8th_page_2.jpg" width="548" height="365" />
Conclusion:
While the DIY approach can be rewarding for various home projects, selling your largest asset requires professional expertise. A real estate agent's knowledge, experience, and resources are invaluable when it comes to pricing your home accurately, effectively marketing it to potential buyers, negotiating favorable terms, and navigating the legal complexities of the process. By entrusting the sale of your home to an expert, you can optimize your chances of a successful and profitable transaction. So, when it comes to selling your home, remember that DIY is for home projects, not the sale of your largest asset.
2023-05-23T06:37:31-07:002023-05-23T06:54:52-07:00Nick Wagenknechttag:sresells.com,2012-09-20:27340SELLERS:don't leave money on the table. Do this instead...If you're like most sellers, your hope is to sell your home for the highest possible price... because who wants to leave money on the table?
Pricing your home correctly is the single most important factor to consider when you’re selling your home, and in this market, the worst thing that you can do is price your home too high and run the risk of deterring buyers.
There’s nothing wrong with listing your home on the high side of market value, however, overpricing your home so that there is "room to negotiate" or to "just see what happens" can backfire badly.
Why?
▪️ The more you overprice your home, the fewer buyers will come to see it. Today's buyers are educated and have all the data in their hands with the internet. They know what comparable homes are selling for and if a home is overpriced.
▪️ Very few buyers will even make an offer on an overpriced home — they will wait for the price to drop, sometimes before they even schedule a showing.
▪️ Your property attracts the most interest when it is first listed, and the majority of showings on a home occur in the first 14 days of the listing hitting the market.
▪️ After your house has been on the market for several weeks or months, buyers will notice the number of days on the market and may assume there is something wrong with your home.
In the end, you will likely end up making less money by overpricing your home, than you would have if you priced it correctly from the start.
If you are considering selling, talk to your agent! They would be happy to give you a free home assessment to show what your home may be worth in today's market.2023-05-16T07:27:43-07:002023-05-16T07:45:31-07:00Nick Wagenknechttag:sresells.com,2012-09-20:27264The Best Time To Sell Your House Is When Others Aren’t SellingIf you’re thinking about <a href="https://www.keepingcurrentmatters.com/2023/04/19/falling-out-of-love-with-your-house-it-may-be-time-to-move/" rel="noopener noreferrer" target="_blank">selling</a> your house, you should know the number of homes for sale right now is low. That’s because, this season, there are fewer sellers listing their houses for sale than the norm.
Looking back at every <a href="https://www.realtor.com/research/data/" rel="noopener noreferrer" target="_blank">April</a> since 2017, the only year when fewer sellers listed their homes was in April 2020, when the pandemic hit and stalled the housing market (shown in red in the graph below). In more typical years, roughly 500,000 sellers add their homes to the market in April. This year, we saw fewer than 400,000 sellers entering the market in April (see graph below):
<a href="https://files.keepingcurrentmatters.com/content/branded/images/20230510/20230511-the-number-of-sellers-listing-their-homes-is-lower-than-the-norm.png" rel="noopener noreferrer" target="_blank" class="lightbox-added"><img src="https://files.keepingcurrentmatters.com/content/branded/images/20230510/20230511-the-number-of-sellers-listing-their-homes-is-lower-than-the-norm.png" /></a>
While there are a number of factors contributing to this trend, one thing keeping inventory low right now is that some homeowners are reluctant to move when the mortgage rate they have on their current house is lower than the one they could get today on their next house. It’s called rate lock.
As a recent survey from Realtor.com <a href="https://news.move.com/2023-04-17-Realtor-com-R-Survey-82-of-Those-Looking-to-Buy-and-Sell-a-Home-Feel-Locked-In-by-Low-Mortgage-Rate" rel="noopener noreferrer" target="_blank">explains</a>, 56% of people who are planning to sell in the next 12 months say they’re waiting for rates to come down.
While this wait-and-see approach is right for some sellers, it also creates an opening for more eager sellers to jump in now.
If your current house truly doesn’t fit your needs anymore and you’re ready to move, don’t miss this chance to <a href="https://www.keepingcurrentmatters.com/2023/02/20/spring-into-action-boost-your-homes-curb-appeal-with-expert-guidance/" rel="noopener noreferrer" target="_blank">stand out</a>. When fewer sellers are putting their homes up for sale, buyers will have fewer options, so you set yourself up to get the most eyes possible on your house. That’s why your house could see <a href="https://www.keepingcurrentmatters.com/2023/04/11/the-big-advantage-if-you-sell-this-spring/" rel="noopener noreferrer" target="_blank">multiple offers</a> as buyers compete over the limited supply of homes for sale – especially if you <a href="https://www.keepingcurrentmatters.com/2023/04/13/want-to-sell-your-house-this-spring-price-it-right/" rel="noopener noreferrer" target="_blank">price it right</a>.
As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), <a href="https://themreport.com/news/data/03-21-2023/existing-home-sales" rel="noopener noreferrer" target="_blank">says</a>:
“Inventory levels are still at historic lows . . . Consequently, multiple offers are returning on a good number of properties.”
Bottom Line
If you’re ready to sell now, beat the competition before it comes onto the market. If you do, your house should stand out and could get multiple offers. Partner with a real estate professional to get your house on the market.
CTO: <a href="https://www.keepingcurrentmatters.com/2023/05/11/the-best-time-to-sell-your-house-is-when-others-arent-selling/" target="_blank">https://www.keepingcurrentmatters.com/2023/05/11/the-best-time-to-sell-your-house-is-when-others-arent-selling/</a>
2023-05-11T06:25:34-07:002023-05-11T06:54:54-07:00Nick Wagenknechttag:sresells.com,2012-09-20:26862Selling Your Home With PetsSelling your home with pets can be challenging ... not only because it can be stressful removing pets for every showing, but also because buyers want to envision themselves living in your home, and that means hiding any evidence that animals live there. One whiff of a dirty litter box or smelly carpets, or view of a mess in the yard, can easily ruin a showing and the best outcome.
While you love your furry family member, sadly, not every buyer will.
Here's what you can do to prepare your home to sell when pets are involved.
Remove ALL evidence of pets
<img src="https://assets.site-static.com/userfiles/4534/image/nickwagenknecht/1.png" width="525" height="350" />
Put away litterboxes and toys, move crates, scratching posts, and dog beds out of sight, and stash food and water bowls under the sink.
Deodorize / deep clean and remove stains
<img src="https://assets.site-static.com/userfiles/4534/image/nickwagenknecht/4.png" width="525" height="350" />
Avoid simply masking odors, and instead spray any fabrics, rugs, and upholstery with a pet-specific deodorizer. Go a step further and replace your furnace filter and even consider getting an air purifier to remove any pesky odors.
Repair any damage
<img src="https://assets.site-static.com/userfiles/4534/image/nickwagenknecht/2.png" width="525" height="350" />
Scratched door frames, shredded upholstery on furniture, and damaged floors can give buyers a bad impression, and make a home look worn. Make any necessary repairs, and don't forget to get out any pet stains in the carpet!
Relocate pets during showings
<img src="https://assets.site-static.com/userfiles/4534/image/nickwagenknecht/3.png" width="525" height="350" />
The sight and sounds of pets are distracting at best and can stress out buyers who may not love your animals as much as you do. Yes, this also includes cats!
Overall, It can help buyers to visualize themselves living in the home, without being distracted by evidence of someone else's pets. Finally, removing pet evidence can help to protect your pets from stress or potential harm during showings or open houses. The time you invest now in preparing your home will pay off in a successful sale!
2023-04-25T07:36:55-07:002023-08-17T06:56:34-07:00Nick Wagenknechttag:sresells.com,2012-09-20:26515The Big Advantage If You Sell This SpringThinking about selling your house? If you’ve been waiting for the <a href="https://www.keepingcurrentmatters.com/2023/04/10/homebuyer-activity-shows-signs-of-warming-up-for-spring/" rel="noopener noreferrer" target="_blank">right time</a>, it could be now while the supply of homes for sale is so low. HousingWire <a href="https://news.move.com/2023-03-30-Realtor-com-R-March-Housing-Report-Spring-Thaw-Lures-Buyers-Back-into-the-Housing-Market" rel="noopener noreferrer" target="_blank">shares</a>:
“. . . the big question is whether we are finally starting to see the seasonal spring increase in inventory. The answer is no, because active listings fell to a new low last week for 2023 . . .”
The National Association of Realtors (NAR) <a href="https://www.nar.realtor/newsroom/existing-home-sales-surged-14-5-in-february-ending-12-month-streak-of-declines" rel="noopener noreferrer" target="_blank">confirms</a> today’s housing inventory is low by looking at the months’ supply of homes on the market. In a balanced market, about a six-month supply is needed. Anything lower is a sellers’ market. And today, the number is much lower:
“Total housing inventory registered at the end of February was 980,000 units, identical to January and up 15.3% from one year ago (850,000). Unsold inventory sits at a 2.6-month supply at the current sales pace, down 10.3% from January but up from 1.7 months in February 2022.”
Why Does Low Inventory Make It a Good Time To Sell?
The less inventory there is on the market when you <a href="https://www.keepingcurrentmatters.com/2023/04/04/two-reasons-you-should-sell-your-house/" rel="noopener noreferrer" target="_blank">sell</a>, the less competition you’re likely to face from other sellers. That means your house will get more attention from the buyers looking for a home this spring. And since there are significantly more buyers in the market than there are homes for sale, you could even receive more than one offer on your house. <a href="https://cdn.nar.realtor/sites/default/files/documents/2023-02-realtors-confidence-index-03-21-2023.pdf" rel="noopener noreferrer" target="_blank">Multiple offers</a> are on the rise again (see graph below):
<a href="https://files.keepingcurrentmatters.com/content/branded/images/20230410/20230411-average-number-of-offers-received-on-the-most-recent-closed-sale-MEM.png" rel="noopener noreferrer" target="_blank" class="lightbox-added"><img src="https://files.keepingcurrentmatters.com/content/branded/images/20230410/20230411-average-number-of-offers-received-on-the-most-recent-closed-sale-MEM.png" /></a>
If you get more than one offer on your house, it becomes a bidding war between buyers – and that means you have greater leverage to sell on your terms. But if you want to maximize the opportunity for a bidding war to spark, be sure to lean on your expert real estate advisor. While we’re still in a strong <a href="https://www.keepingcurrentmatters.com/2023/03/30/were-in-a-sellers-market-what-does-that-mean/" rel="noopener noreferrer" target="_blank">sellers’ market</a>, it isn’t the frenzy we saw a couple of years ago, and today’s buyers are focused on the houses with the greatest appeal. Clare Trapasso, Executive News Editor at Realtor.com, <a href="https://news.move.com/2023-03-30-Realtor-com-R-March-Housing-Report-Spring-Thaw-Lures-Buyers-Back-into-the-Housing-Market" rel="noopener noreferrer" target="_blank">explains</a>:
“Well-priced, move-in ready homes with curb appeal in desirable areas are still receiving multiple offers and selling for over the asking price in many parts of the country. So, this spring, it’s especially important for sellers to make their homes as attractive as possible to appeal to as many buyers as possible.”
Bottom Line
If you’ve been waiting for the right time to sell your house, low inventory this spring sets you up with a big advantage. Reach out to a local real estate professional today to make sure your house is ready to sell.
<a id="cta_button_6682367_3a232791-46a7-4b9d-96c9-9283642e9ada" class="cta_button " href="https://hs.keepingcurrentmatters.com/cs/c/?cta_guid=3a232791-46a7-4b9d-96c9-9283642e9ada&signature=AAH58kG17ddmx-wr_vTJnymNAV4BMlDm4g&placement_guid=0a59f7e1-d46d-44c9-bd73-1a5a575ba5fa&click=fa11714b-9e86-4f3c-a690-6e4b908c33e9&hsutk=144fbb37378dbc867f51ab004b965f86&canon=https%3A%2F%2Fwww.keepingcurrentmatters.com%2F2023%2F04%2F11%2Fthe-big-advantage-if-you-sell-this-spring%2F&portal_id=6682367&redirect_url=APefjpFbHPMW1dKuWAT3fhm0YO2Y-YBMccaQ43Tn2Nd5dQljAphUCfOZqb6FP4AAg6uuWRtc9qHrnWVimPErNKQRa9T8BgRIU4nT8DgPBwuOLDY1q29HxyX5Pawho8Nu_HtrNPJTGQBupKHzigm9kMlEZJJu9kDK7g&__hstc=112643931.144fbb37378dbc867f51ab004b965f86.1681222505968.1681222505968.1681222505968.1&__hssc=112643931.1.1681222505968&__hsfp=3614612612" target="_blank" rel="noopener" cta_dest_link="https://www.keepingcurrentmatters.com/lp/daily-blog/" title="Get the KCM Blog">R</a>ead more: CTO <a href="https://www.keepingcurrentmatters.com/2023/04/11/the-big-advantage-if-you-sell-this-spring/">https://www.keepingcurrentmatters.com/2023/04/11/the-big-advantage-if-you-sell-this-spring/ </a>
2023-04-11T07:19:47-07:002023-04-11T07:29:58-07:00Nick Wagenknechttag:sresells.com,2012-09-20:26372My 3 P's To Sell Your Home For More MoneyWhen selling a home, most realtors do what I like to call "the 3 P's", which are: placing a sign in your yard, putting your home in the MLS, and praying.
However, I have a slightly different philosophy around the 3 P’s — PREPARE your home to appeal to the most buyers, POSITION it correctly in the market, and PRESENT your home strategically to sell your home quickly.
Read on to learn more about how I typically net my sellers more money and sell their homes faster using my unique approach.
1. PREPARE your home to appeal to the most buyers
When selling your home, you are selling a dream of homeownership, and the dream does not include trimming trees back from the roof, removing wallpaper, and replacing old carpets. Preparing your home for the market includes making repairs, decluttering, deep cleaning, organizing, and home staging.
There are usually small changes that can be made to a property that can dramatically increase the price and selling speed of a home. <br />Things like: New neutral paint, new flooring, and replacing dated lighting fixtures and hardware.
Home staging is also essential if you want to sell your home quickly and for top dollar. Staging helps buyers envision themselves in your home. It helps buyers mentally move in, and visualize the home’s full potential by highlighting the home's best features.
2. POSITION it correctly in the market
This is my “marketing strategy", and how I am going to position your home so that it stands out against all of the competition and gets the most exposure.<br /> <br />I have a dynamic and innovative marketing plan that involves:
o Professional photography and videography
o Digitally enhanced, high-resolution photos
o Virtual staging / virtual renovation if necessary
o Pricing your home within market value
o Dynamic brochures
o Compelling description of your home for the MLS<br />and other online search engines
3. PRESENT your home strategically to sell quickly
This is how I introduce your listing to agents and buyers alike to get the most exposure and interest so that your home sells quickly and for top dollar.<br /> <br />My strategic marketing plan includes:
o A coming soon campaign
o Social media advertising
o Print marketing and postcard campaigns
o Neighborhood circle calling to see if anyone in your neighborhood knows someone who wants to move there
o Well-organized open houses
o Agent networking
o Reverse prospecting on the MLS, which involves reaching out to the agents who have buyers looking for a home similar to yours, to let them know about your home, and to send their buyers to the open house2023-04-06T07:13:38-07:002023-04-06T07:30:00-07:00Nick Wagenknechttag:sresells.com,2012-09-20:25803Importance of a Pre-Listing Home Inspection One of the greatest concerns that sellers have when putting their home on the market is the possibility that a buyer's home inspection may uncover issues that could potentially derail the sale. By having a pre-listing home inspection done BEFORE going on the market, you can get ahead of issues a buyer might find during an inspection, and reduce the likelihood that the sale will fall through.<br /><br />Regardless of how long you’ve lived in your home or how old it is, there could be unknown issues that you are unaware of, and learning about them before you list could end up saving you thousands.<br /><br />The main advantages of getting a pre-listing home inspection are:<br /><br /><img height="16" width="16" alt="✔️" referrerpolicy="origin-when-cross-origin" src="https://static.xx.fbcdn.net/images/emoji.php/v9/t51/1/16/2714.png" /> Discover property conditions before a buyer walks through the door<br /><img height="16" width="16" alt="✔️" referrerpolicy="origin-when-cross-origin" src="https://static.xx.fbcdn.net/images/emoji.php/v9/t51/1/16/2714.png" /> Fix problems and display receipts showing what repairs have been made<br /><img height="16" width="16" alt="✔️" referrerpolicy="origin-when-cross-origin" src="https://static.xx.fbcdn.net/images/emoji.php/v9/t51/1/16/2714.png" /> Disclose any and all known defects with the home<br /><img height="16" width="16" alt="✔️" referrerpolicy="origin-when-cross-origin" src="https://static.xx.fbcdn.net/images/emoji.php/v9/t51/1/16/2714.png" /> Help prevent buyers from subtracting thousands for what may be a hundred dollars worth of repairs<br /><img height="16" width="16" alt="✔️" referrerpolicy="origin-when-cross-origin" src="https://static.xx.fbcdn.net/images/emoji.php/v9/t51/1/16/2714.png" /> Shop contractors to find the best price for repairs<br /><img height="16" width="16" alt="✔️" referrerpolicy="origin-when-cross-origin" src="https://static.xx.fbcdn.net/images/emoji.php/v9/t51/1/16/2714.png" /> Set your listing apart from the others<br /><img height="16" width="16" alt="✔️" referrerpolicy="origin-when-cross-origin" src="https://static.xx.fbcdn.net/images/emoji.php/v9/t51/1/16/2714.png" /> Demonstrate your motivation and strengthen your market position<br /><br />If you're thinking of selling and want to know what I can do to help you get top dollar, message me and let's chat! I'd be happy to send you a FREE copy of my Seller's Guide! 2023-03-28T07:07:21-07:002023-03-28T07:21:02-07:00Nick Wagenknechttag:sresells.com,2012-09-20:25469The Role of Access in Selling Your HouseOnce you’ve made the decision to <a href="https://www.keepingcurrentmatters.com/2023/03/13/leverage-your-equity-when-you-sell-your-house/" rel="noopener noreferrer" target="_blank">sell</a> your house and have <a href="https://www.keepingcurrentmatters.com/2023/03/01/an-expert-makes-all-the-difference-when-you-sell-your-house/" rel="noopener noreferrer" target="_blank">hired</a> a real estate agent to help, they’ll ask how much access to your home you want to give potential buyers. Your answer matters more now than it did in recent years. Here’s why.
At the height of the buying <a href="https://www.keepingcurrentmatters.com/2023/03/16/what-buyer-activity-tells-us-about-the-housing-market/" rel="noopener noreferrer" target="_blank">frenzy</a> seen during the pandemic, there was a rise in the number of homebuyers who put offers on houses sight unseen. That happened for three reasons:
Extremely low housing inventory
A lot of competition from other buyers wanting to take advantage of historically low mortgage rates
And general wariness of in-person home tours during a pandemic
Today, the market’s changing, and buyers can usually be more selective and take more time to explore their <a href="https://www.keepingcurrentmatters.com/2023/02/20/spring-into-action-boost-your-homes-curb-appeal-with-expert-guidance/" rel="noopener noreferrer" target="_blank">options</a>.
So, in order to show your house and sell it efficiently, you’ll want to provide buyers with as much access as you can. Before letting your agent know what works for you, consider these five levels of access you can provide. They’re ordered from most convenient for a buyer to least convenient. Remember, your agent will be better able to sell your house if you provide as much access to buyers as possible.
Lockbox on the Door – This allows buyers the ability to see the home as soon as they are aware of the listing or at their convenience.
Providing a Key to the Home – This would require an agent to stop by an office to pick up the key, which is still pretty convenient for a buyer.
Open Access with a Phone Call – This means you allow a showing with just a phone call’s notice.
By Appointment Only – For example, you might want your agent to set up a showing at a particular time and give you advance notice. That way you can prepare the house and be sure you have somewhere else you can go in the meantime.
Limited Access – This might mean you’re only willing to have your house available on certain days or at certain times of day. In general, this is the most difficult and least flexible way to show your house to potential buyers.
As today’s housing market <a href="https://www.keepingcurrentmatters.com/2023/02/28/what-you-should-know-about-rising-mortgage-rates/" rel="noopener noreferrer" target="_blank">changes</a>, be sure to work with your local agent to give buyers as much access as you can to your house when you sell.
Bottom Line
Access can have a big impact on the sale of your house. Connect with a real estate agent today if you’re ready to make a move this spring.
Read more:<a href="https://www.keepingcurrentmatters.com/2023/03/21/the-role-of-access-in-selling-your-house/"> https://www.keepingcurrentmatters.com/2023/03/21/the-role-of-access-in-selling-your-house/</a>
2023-03-21T08:18:04-07:002023-03-21T08:45:03-07:00Nick Wagenknechttag:sresells.com,2012-09-20:25385Home Seller Alert: We’ve Found the Very Best Week To List Your Home in 2023
<a href="https://www.realtor.com/guides/home-selling-guide/" target="_blank">Calling all sellers</a>. Do you want a quick home sale at a higher price, even in this troubled real estate market? Then open your calendar to April, uncap a bright yellow marker, and highlight the week of April 16–22. This seven-day stretch was identified by Realtor.com® as the <a href="https://www.realtor.com/research/best-time-to-sell-2023/" target="_blank" rel="noopener">best week to list your home</a> in 2023.
Just how much extra cash can a seller potentially pocket and how fast can a home go from a new listing to the closing table?
During the best week to list, home prices are expected to be $8,400 higher than the typical week—and a whopping $48,000 above early 2023 prices. Real estate listings are expected to receive 16.4% more views than in the typical week.
And while <a href="https://www.realtor.com/news/trends/is-spring-the-make-or-break-moment-for-2023s-housing-market-a-brutally-honest-look-ahead-for-buyers-sellers/" target="_blank">spring is generally considered prime selling season</a>, demand is likely to surge in the third week of April, with homes predicted to move off the market 18% quicker than an average week.
“The best week represents a fine balance between less competition from other sellers (i.e., fewer listings), high potential sale prices, and a snappy time on the market,” says Hannah Jones, economic research analyst for Realtor.com.
The Realtor.com economics team identified this ideal selling week after carefully examining market behavior from 2018 through 2022. (Note that 2020 was excluded due to the atypical market conditions at the height of the COVID-19 pandemic.) Competition from other sellers, how long a home spent on the market, views per property, list prices, and the likelihood of price reductions were factored into the analysis.
<a href="http://www.realtor.com/timetosell" target="_blank" rel="noopener"><img decoding="async" class="alignnone wp-image-789160 lazyloaded" src="https://na.rdcpix.com/47e69dd903dec08e458cdcc34442dd2cw-c1507707239srd_q80.jpg" data-src="https://na.rdcpix.com/47e69dd903dec08e458cdcc34442dd2cw-c1507707239srd_q80.jpg" alt="" width="650" height="1155" /></a>
Few new listings is keeping the housing market competitive
During the height of the pandemic, it seemed like there was no bad time to list. Homes were selling crazy fast, often with multiple bids over asking prices.
Now? The <a href="https://www.realtor.com/news/trends/americas-hot-mess-of-a-housing-market-just-got-a-little-bit-uglier-heres-why/" target="_blank">once red-hot market</a> is lukewarm at best.
Today’s buyers face three major hurdles that have them sitting on the sidelines: a shortage of homes for sale, high prices for the properties that are available, and rising mortgage rates that make <a href="https://www.realtor.com/news/trends/half-the-homes-for-50-more-money-an-honest-look-at-homebuyers-new-reality/" target="_blank">monthly mortgage payments about 50% more expensive than just a year ago</a>. (For the week ending March 9, the rate for a 30-year fixed-rate mortgage was <a href="https://www.freddiemac.com/pmms" target="_blank" rel="noopener">6.73%</a>, according to Freddie Mac.)
The one thing buyers desperately need that could get them leaping over affordability hurdles to be first in line at open houses: fresh listings.
Just how desperate are buyers? New listings have fallen for 35 weeks straight, plummeting by 26% for the week ending March 4. And overall inventory is still 50% below pre-pandemic norms as well.
Many sellers are also buyers who are finding it hard to find a new home of their own and are grappling with higher rates. That’s held many back from listing.
So sellers willing to counter this pent-up demand will likely be rewarded as savvy buyers know not to dawdle if a good home hits the market.
“Buyers love fresh listings—those who have been following the market know that these great newer listings get sold rather quickly,” says Candice Krasovec, a real estate agent and certified home appraiser in Washington and Texas at Pierce County Appraisals.
Making your listing stand out
If every seller knows the best week to List a home, a hesitant homeowner might worry there will be a glut of homes on the market, further complicating competition.
Yet sellers who are reluctant to plant a “For Sale” sign on their lawn during the best week might want to consider a critical real estate fact: The market is about to enter prime time for homebuyers with families, who typically want to move well before the start of the new school year.
“New listings tend to pick up in the late spring and summer,” says Jones. “So entering the market during the best week gives sellers a great opportunity to catch the attention of buyers before listing activity is in full swing.”
And despite the recent sluggish market, homes that are turnkey and located in desirable locations <a href="https://www.realtor.com/news/trends/a-tale-of-2-housing-markets-why-some-homes-still-cause-heated-bidding-wars-while-others-sit-unsold/" target="_blank" rel="noopener">continue to sell briskly</a> and garner “substantial attention,” according to Jones.
The key takeaway, however, is for sellers to list a home at a well-thought-out price. And Jones advises sellers to get hyperlocal in their research.
“Sellers need to become familiar with their local market and work closely with a local agent to make sure their listing is attractive to buyers,” she says. “Buyers feeling the pressure of affordability are likely to be pickier, so a well-priced, well-maintained home is the ticket to drumming up big demand.”
Read more: https://www.realtor.com/news/trends/home-seller-alert-weve-found-the-very-best-week-to-list-your-home-in-2023/
2023-03-16T07:29:55-07:002023-03-16T08:06:09-07:00Nick Wagenknechttag:sresells.com,2012-09-20:25200AVOID THESE COMMON SELLER MISTAKESSelling your home can be both an exciting and also intimidating experience that may feel overwhelming at times. However, you don’t have to face it alone. I’m here to help!
I’ve put together a list of common seller mistakes to avoid, so if you’re thinking of selling this spring, you’ll be prepared.
1. DOING IT ALONE.
From pricing your home right to negotiating with potential buyers, an experienced agent has the knowledge and expertise to help you every step of the way. Not to mention, the right agent will ensure you sell your home quickly, and for more money, than if you try to do it on your own.
Did you know?
‣ Homes that were sold For Sale By Owner (FSBO), sold for about 26% less on average than properties represented by real estate agents.
‣ Instant offer sites tack on lots of fees AND pay less than market value for your home.
By hiring a skilled realtor, your home will get more exposure, you’ll have a skilled negotiator advocating on your behalf, you’ll have someone looking out for your best interests, and you’ll maximize your profits.
2. STAYING IN A HOME YOU DON’T LOVE
Have you outgrown your home? Don’t love your current neighborhood or commute? Is it time to downsize? Or do you just want an upgrade (or a new beautiful kitchen)?
There is no such thing as the “perfect time” to make a move — the time is right when you are no longer happy with where you live and have the financial stability to change that.
Life is too short to live in a home you don’t love. Moving to a new home that better suits your needs, lifestyle, and personality can have a transformative effect on your life. You deserve a home that makes you feel happy, comfortable, and inspired, so don’t settle for anything less!
3. NOT PREPARING YOUR HOME FOR THE MARKET.
Preparing your home for the market is essential, because it creates a favorable first impression, helps you stand out from the competition, allows buyers to envision themselves living in the home, and will help you sell quickly, and for top dollar.
This involves decluttering, deep cleaning, depersonalizing, organizing, home staging, and even minor upgrades such as a fresh coat of paint, swapping out dated light fixtures, or replacing old carpets.
Even in a seller’s market, it is important to prepare your home to sell!
4. OVERPRICING YOUR HOME.
Pricing your home correctly is the single most important factor to consider when you’re selling your home.
Your property attracts the most interest when it is first listed, and the majority of showings on a home occur in the first 30 days of hitting the market. Buyers have access to online home valuation tools and know when a home is overpriced, and very few buyers will even make an offer on an overpriced home — they will wait for the price to drop. Further, after your house has been on the market for several weeks or months, buyers will notice the number of days on market and may assume there is something wrong with your home.
In the end, you may end up making less money by overpricing, than you would have if you’d priced your house correctly when it was first listed. A home that is priced right will generate more interest and sell faster.2023-03-09T09:00:00-07:002023-03-09T09:03:31-07:00Nick Wagenknechttag:sresells.com,2012-09-20:25031WHERE WILL YOU GO AFTER YOU SELL YOUR HOUSE? ( INFOGRAPHIC)<img src="https://files.simplifyingthemarket.com/wp-content/uploads/2023/03/02130847/Where-Will-You-Go-After-You-Sell-Your-House-MEM.png" alt="Where Will You Go After You Sell Your House? [INFOGRAPHIC] | Simplifying The Market" />
Some Highlights
If you’re thinking of <a href="https://www.keepingcurrentmatters.com/2023/03/01/an-expert-makes-all-the-difference-when-you-sell-your-house/">selling</a> your house, be sure to explore all the options you have for your next home.
Both <a href="https://www.keepingcurrentmatters.com/2023/02/15/should-you-consider-buying-a-newly-built-home/">newly built homes</a> and existing homes offer plenty of unique benefits.
If you have questions about the <a href="https://www.keepingcurrentmatters.com/2023/02/22/a-smaller-home-could-be-your-best-option/">options</a> in your area, meet with a local real estate professional to discuss what’s <a href="https://www.keepingcurrentmatters.com/2023/02/08/number-of-homes-for-sale-up-from-last-year-but-below-pre-pandemic-years/">available</a> and what’s right for you.
Read more: https://www.keepingcurrentmatters.com/2023/03/03/where-will-you-go-after-you-sell-your-house-infographic/2023-03-07T09:45:18-07:002023-03-07T09:56:00-07:00Nick Wagenknechttag:sresells.com,2012-09-20:23848THE IMPORTANCE OF STRATEGIC PRICING IN A SHIFTING MARKETPricing your home correctly is the single most important factor to consider when you’re selling your home. When you want top dollar, it is best to have the right price the day your house goes on the market. The first few weeks of any property sale are key, so you must price your home correctly from the start if you want to maximize interest. There’s nothing wrong with listing your home on the high side of fair value, however, overpricing your home so that there is “room to negotiate” can backfire. Why?
▪️ The more you overprice, the fewer buyers will come to see it. Today’s buyers are educated and have all the data in their hands with the internet and home valuation sites. They know if a home is overpriced, and will wait for price decreases.
▪️ Very few buyers will even make an offer on an overpriced home — they will wait for the price to drop.
▪️ Your property attracts the most interest when it is first listed, and the majority of showings on a home occur in the first 30 days of the listing hitting the market. The longer you wait to adjust the price, the smaller your pool of potential buyers becomes.
▪️ After your house has been on the market for several weeks or months, buyers will notice the number of days on market and may assume there is something wrong with your home.
In the end, you may end up making less money by overpricing, than you would have if you’d priced your house correctly when it was first listed.2023-01-05T10:30:00-07:002023-01-05T08:11:28-07:00Nick Wagenknechttag:sresells.com,2012-09-20:23791What You Can Do To Prep For The Spring MarketThinking of selling this spring? Believe it or not, NOW is the time to prepare your home for the market. A few home improvements can go a long way toward making a favorable impression on potential buyers when you decide to list.
Getting your home looking its best doesn’t have to be costly or complicated either — here is a list of suggestions I typically give my sellers on how to prep their home to sell quickly and get top dollar.
<img src="https://assets.site-static.com/userfiles/4534/image/1.jpg" width="464" height="149" />
① Clean & Declutter
You want buyers to focus on how great your space is, not how messy or dirty it looks. You want buyers to envision themselves in your space, so keeping up a tidy house is crucial. Start by depersonalizing and organizing, and getting rid of anything that you no longer want or need.
<img src="https://assets.site-static.com/userfiles/4534/image/2.jpg" width="525" height="350" />
② Neutral Colors<br />As much as you might love your bright red kitchen or plum purple living room, buyers may not. Repaint any bold-colored rooms with neutral tones such as light grays and whites that allow buyers to focus on the spaces themselves, not the color of the walls.
<img src="https://assets.site-static.com/userfiles/4534/image/3.jpg" width="525" height="350" />
③ Complete a Mini Renovation<br />Small updates can make a big difference in the overall feel of a room. Kitchen a little outdated? Replace the knobs, light fixtures, kitchen faucet, and even consider painting the cabinets. This same concept works in bathrooms as well!
Tackling home improvements to get your home ready to sell? Send us a message — We’d love to help you get started.2023-01-03T07:47:00-07:002023-01-05T07:53:12-07:00Nick Wagenknechttag:sresells.com,2012-09-20:23012Why You Should Consider Selling in the Winter<img src="https://assets.site-static.com/userfiles/4534/image/selling-in-the-winter-attracts-serious-buyers.jpg" alt="Selling In Winter Attracts Serious Buyers" title="Selling In Winter Attracts Serious Buyers" height="410" width="750" /> The season you sell your home can have an impact on how much you get for your home and how quickly it sells. The season that has the most success in selling homes is spring. This is a good time of year for families moving to new school districts and is also more convenient weather for moving. Because of this trend, most people will recommend waiting to list your home until after the winter is over. Avoiding the winter is a huge misconception in the housing industry and can cause homeowners to miss out on opportunities. Selling in the winter can give you a few advantages. There will be fewer houses on the market since most people assume winter is a bad time to sell. This gives your home more attention. Potential buyers are always looking no matter the time of year. Keeping your house on the market in the winter might bring the right buyer to your door. Real estate agents also tend to be less busy during these months and commit more time to getting your home sold. Studies have shown winter buyers are buying because they need to move right away either for a relocation or personal situation. They will want to close quickly and allow for a much smoother sale. Bottom Line If you need to sell your home right away, or have some time but want to see what is out there, consider listing in the winter. Most homeowners who are going to sell will list their home in the spring, making for a competitive market. The winter allows buyers who are in a hurry to move consider your home and sell for more money than you would have in the spring.2022-11-16T10:00:06-07:002022-11-16T10:01:16-07:00Jeremy Schneider