Tips on getting your home ready to sell in 2017!!
With a new year, brings a fresh start. Whether you’re ready to start a family and need a bigger place, accepted a job offer and need to move, or just simply have outgrown your home, now is the time to get your home ready to put on the market!
‘We’re about to enter the hottest Real Estate market in recent history& a seller’s market on top of that in many places across the US’-Julia E Miller-tourwizard.net
One of the main reasons to list your home this coming year is Mortgage rates are still low. Lower mortgage rates mean lower monthly costs, and lower costs entice buyers!! Yes, rates increased, after the recent election, to 4%, for a 30-year fixed mortgage, and they are expected to keep rising, but slowly.The Mortgage Bankers Association predicts that the 30-year fixed-rate mortgage will rise gradually over the year, averaging 4.7 % in the fourth quarter of 2017, and the National Association of Realtors expects the 30-year fixed to be around 4.6 % at the end of this year. What does that mean for you as a seller? Potential buyers with this knowledge are most likely going to hustle to close on a property before rates start to increase.
Another key factor is low inventory and higher prices. With inventory decreasing, available homes have become more valuable, and you as the seller have less competition. If priced correctly, the property should move rather quickly. Like many of us, during the “recession” your property value was on a downward spiral, leaving many upside down, and afraid to sell as not to suffer a loss! However, many sellers have recovered enough equity to be able to afford to sell without suffering repercussions.
Lastly, job markets are strengthening, especially with the millennials that make up the biggest percentage of the active workforce. The unemployment rate decreases, as the wages increase, which will spark some confidence in the “young” buyers. They are fresh off paying off their student loans, saving money for a down payment, and looking forward to getting married and starting a family.
Now that we have covered the why, let’s move on to when. RIGHT NOW!! No but really, what better time than the present to get things started. With spring right around the corner, which is prime time to list, shouldn’t you start getting your home ready now?? Here are a few tips as to what you can do to get your home ready;
Curb Appeal– you want to set a good impression as soon as the buyers pull up to the property. Be sure to manicure the lawn and bushes, add new plants, some outside furniture, welcome doormat/wreath, and get rid of any junk that may be lying around.
Make the exterior of the home inviting; especially the front/garage door– it is highly recommended that you freshen the paint on the entire exterior. However, if that is not within the budget, freshen up the paint just on the front & garage doors, and power wash the exterior, including sidewalks and driveway. This will still help to improve the look.
Remove clutter and depersonalize– Disassociate yourself with your home. Buyers want to envision themselves in the home and it makes it hard if it is personalized to your taste. Be sure to remove all family photos, artwork from the kids, souvenirs, Knick Knacks, etc….. Make note NOT to skip the closets. Yes, surprisingly, buyers are extremely nosey, and to them an overstuffed closet screams there isn’t enough storage in the home, organization is essential!! Renting out a storage container for your extra belongings will help tremendously, and let’s faces it, it will be helpful for when your home sells and most of your stuff is already boxed and ready to go!
Make repairs/updates to add value– With Millennials being the largest percentage of buyers currently in the market, it would be wise to speak to their interests. They want modern designs, upgraded appliances, energy efficient smart homes, and an outdoor living space with little to no maintenance. You may also want to consider freshening up the paint on the walls, keeping everything neutral, and get rid of the wallpaper. Unfortunately, a buyer doesn’t know (and most likely doesn’t care) about the countless hours you spent putting up the ‘gorgeous’ wallpaper in the bathroom or painting little Suzie’s bedroom pink. They simply see that room as a distraction, and one more item they will need to “fix” prior to moving in. Most home buyers want ‘move-in ready’.
Stage the home– Either, hire a professional, get advice from your Realtor, or research tips on line. This is extremely helpful for the type of buyers that can’t envision your homes potential. Where furniture is located, colors, lighting, it all can make a huge impact on a buyers decision.
Clean, Clean Clean!!!– This cannot be stressed enough, how important this is and how much of a turn off it is to buyers if the home is not clean. As soon as a buyer walks into a house they want it to smell and look clean. Again, they want to imagine themselves living there. Clean from the ceiling fans, to the floor, and everything in between. If possible, hire a professional cleaner to come in a week or so before listing and conduct a full deep clean, and then have them come back once every two weeks. This way, as the homeowner, all you have to do is keep up with the daily chores of dishes, beds, light dusting, and tidying up.
Above all else, trust in an experienced, knowledgeable Realtor that is going to guide you through this process, put your best interest first, and get results! If you are looking to sell in or around the Uptown area, or just want to discuss your options, please don’t hesitate to contact Chris Bonnefoux at www.MrUptown.com or at 704-562-7406. You can also email him at Chris@MrUptown.com.