Connect with us

For Sellers

Is This the Year to Sell My House?

Published

on

If one of the questions you’re asking yourself is, “Should I sell my house this year?” consumer sentiment about selling today should boost your confidence in the right direction. Even with the current health crisis that continues to challenge our nation, Americans still feel good about selling a house. Here’s why.

According to the latest Home Purchase Sentiment Index from Fannie Mae, 57% of consumer respondents to their survey indicate now is a good time to buy a home, while 59% feel it’s a good time to sell one:

“The percentage of respondents who say it is a good time to sell a home remained the same at 59%, while the percentage who say it’s a bad time to sell decreased from 35% to 33%. As a result, the net share of those who say it is a good time to sell increased 2 percentage points month over month.”

As you can see, many still believe that, despite everything going on in the world, it is still a good time to sell a house.

Why is now a good time to sell?

There simply are not enough homes available to meet today’s buyer demand, and they’re selling just as quickly as they’re coming to the market. According to the National Association of Realtors (NAR), unsold inventory available today sits at a 2.3-month supply at the current sales pace, which is down from a 2.5-month supply from the previous month. This record-low inventory is not even half of what we need for a normal or neutral housing market, which should have a 6.0-month supply of unsold inventory to balance out.

With so few homes available for buyers to choose from, we’re in a true sellers’ market. Homeowners ready to make a move right now have the opportunity to negotiate the best possible contracts with buyers who are feeling the pull of intense competition when it comes to finding their dream home. Lawrence Yun, Chief Economist for NAR, notes how quickly homes are selling right now, further confirming the benefits to sellers this season:

“The market is incredibly swift this winter with the listed homes going under contract on average at less than a month due to a backlog of buyers wanting to take advantage of record-low mortgage rates.”

However, this sweet spot for sellers won’t last forever. As more homes are listed this year, this tip toward sellers may start to wane. According to Danielle Hale, Chief Economist at realtor.com, more choices for buyers are on the not-too-distant horizon:

“The bright spot for buyers is that more homes are likely to become available in the last six months of 2021. That should give folks more options to choose from and take away some of their urgency. With a larger selection, buyers may not be forced to make a decision in mere hours and will have more time to make up their minds.”

Bottom Line

If you’re ready to make a move, you can feel good about the current sentiment in the market and the advantageous conditions for today’s sellers. Let’s connect today to determine the best next step when it comes to selling your house this year.

Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

For Sellers

Home Staging FAQ: What You Need To Know

Published

on

You may have heard that staging your home properly can make a big difference when you sell your house, but what exactly is home staging, and is it really worth your time and effort?

Here are a few quick FAQs that can help you decide how much you should prioritize staging as you prep for your move.

What Is Home Staging?

Staging is the process of arranging and decorating your house to highlight its best features and make it as appealing as possible to potential buyers. It can range from simple touch-ups to more extensive setups, depending on your needs and budget.

How Does It Help Me Sell My House?

Studies show good staging does have an impact on your sale. Staging your house well can help you attract more attention from buyers, which ultimately helps it sell faster and maybe for a higher price than an unstaged home (see visual):

What Are My Staging Options?

Now that you see the value, let’s think through your options. The most common is leaning on your agent for their expert advice. They know what buyers like because they’re in showings all the time and hear that feedback first-hand. That expertise is crucial to getting your house market-ready. Basic staging with an agent usually means they give you insight into how you should:

  • Declutter and depersonalize by removing photos and personal items
  • Arrange your furniture to improve the room’s flow and make it feel bigger
  • Add plants, move art, or re-arrange other accessories

Full-service staging is another option if your house needs more hands-on attention. This is when you hire a staging professional or staging company to come in, make recommendations, and do the work for you. Going this route is more involved and that makes it more costly too. That’s because it can include renting furniture and decor to more fully transform a space.

How Do I Know Which One To Pick?

Not sure which one you need? You don’t have to figure that out on your own. Your real estate agent will help determine what level of staging will make the most impact on your house and market.

They can help you decide if professional staging is worth the investment, or if you can knock it out with their advice alone. And just so you know, here are some of the factors an agent will look at to figure that out:

  • Market Conditions: If the market is slower, going all in on staging can make your home look move-in ready and attractive to buyers who may otherwise be hesitant. If your local market is very active and homes are selling fast, you may be able to get by with doing less.
  • Your Home’s Condition: If your home is vacant or has a unique layout, using a professional stager who can bring in the right furniture and accessories may help buyers truly visualize its full potential.
  • Your Budget: Talk to your agent to get an idea of staging costs in your area, as it can be the difference between your house selling and sitting. But if your budget is tight or your home only needs minor updates, your real estate agent can help you think outside of the box by suggesting simple DIY staging tips to help your home look its best.

Bottom Line

Staging your house properly can make it much more attractive to buyers, but it’s not a one-size-fits-all solution, and every home shines differently. If you’re considering staging, talk to your real estate agent—they’re your best resource for determining what your home really needs to stand out and sell for top dollar. 

Continue Reading

For Sellers

How Eco-Friendly Features Can Boost Your Home’s Value

Published

on

Selling your house? Or just looking to increase the value and appeal of your home for when you do? Here’s something you should know – homebuyers are increasingly looking for homes with environmentally friendly features.

What Energy Efficient Features Do Buyers Want?

According to recent data from the National Association of Realtors (NAR), when buyers think about eco-friendly features, they’re looking for (see visual below):

a blue and white rectangles with white text

  • Heating and cooling costs: 82% of buyers consider heating and cooling costs to be one of the most important factors when looking for a home. And efficient heating and cooling systems with programmable thermostats can significantly lower monthly energy bills.
  • Windows and doors with proper insulation: These help maintain comfortable indoor temperatures without overworking the HVAC system, which turns into saving on energy bills.
  • Energy-efficient lighting and appliances: These can save money on utility bills and reduce a home’s overall energy use too.
  • Commuting costs and environmentally friendly community features: Living in a community designed with energy-saving amenities and shorter commutes can reduce expenses and environmental impact.
  • Landscaping for energy conservation: Strategically placed trees and shrubs can lower cooling costs in the summer.
  • Solar panels: Solar panels can also provide long-term savings and are an attractive feature for eco-conscious buyers.

The common theme? Environmentally friendly features are popular with buyers because they help them save money and make homes more comfortable to live in. But making some of these updates before you sell your house doesn’t just benefit buyers – it’s worthwhile for you too.

How Green Features Benefit You

If your appliances or systems are aging, upgrading them now means you can enjoy the savings and comfort while you’re still living in the home.

The U.S. Department of Energy has introduced Home Energy Rebates, which can provide households with up to $14,000 in savings on energy-efficient upgrades. This includes insulation, duct sealing, heat pumps, and more. These rebates make it more affordable than ever to improve your home’s efficiency.

Then, when you decide to sell, you’ll reap the rewards again. Energy-efficient homes stand out in a competitive market and appeal to the growing group of environmentally conscious buyers.

Studies also show that homes with energy-efficient upgrades, like those with high-efficiency HVAC systems or modern insulation, are more desirable for buyers- and they generally net a higher price. Research from Freddie Mac found that homes with high energy-efficiency ratings sold for 2.7% more on average than homes without these upgrades.

Work with a Real Estate Agent to Maximize Value

Not sure which upgrades to prioritize? That’s where a local real estate agent comes in. They can help you identify the eco-friendly features that buyers in your area value most. Whether it’s adding Energy Star appliances or improving insulation, they’ll guide you in making the best choices for your house and your budget.

Bottom Line

Making environmentally friendly upgrades can pay off in more ways than one. You can enjoy saving on energy bills and improved comfort now. Additionally, you’ll have the satisfaction of knowing you’re contributing to a more sustainable future while adding value to your home. Ready to learn more about how you can make your house stand out? Contact a local real estate agent today.

Continue Reading

Agent Value

Why More Sellers Are Hiring a Real Estate Agent

Published

on

a screenshot of a graph

Some Highlights

  • More homeowners are realizing they need an agent’s help in this complex market – and that’s why a record-low number of people are selling without a pro by their side.
  • Without an agent’s help, tackling pricing, staging and repairs, paperwork, negotiation, and more can be a real headache.
  • Selling without a pro isn’t worth the hassle. Connect with an agent to see if you’d work well together.

Continue Reading

Subscribe for Weekly

Real Estate Insights

Advertisement

Trending

Copyright © 2020-2024 Let's Talk Real Estate. All rights reserved.  
The information contained, and the opinions expressed, in these article are not intended to be construed as investment advice. Let's Talk Real Estate and Keeping Current Matters, Inc. do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Let's Talk Real Estate and Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.