When Should You Sell Your Home?

Spring is the perfect time to sell your house. It’s the right time of year. The flowers are in bloom and buyers are coming out of hibernation. You also will get a completely new buyer pool as more and more millennials join the home buying party.
Now that you have decided to list your home in the spring here are a few pointers:

  1. You have 60 secondsHome With For Sale Sign
    In just one minute, buyers will decide if they want to consider your home. Consider your curb appeal. You don’t want to turn buyers off before they even get inside. Start with trimming trees and bushes, washing the driveway, front walk, house and patio. In addition, buyers often linger at the front door while waiting for their agent to open the lock box. A fresh coat of paint on the door could be your chance at a great first impression.
  2. You have too much stuff
    Your belongings have a special place in your heart, but not the buyer’s. One mistake many sellers make is that their stuff is taking up space that makes their home look smaller. Clutter will turn off buyers, as will large and awkward furniture pieces. Start by going through all of your furniture and closets with a discerning eye. Toss what you can and pack up the rest. Stripping your closet and home down to the bare necessities will highlight the space and storage your home offers.
  3. You have the right price
    Today’s buyers are savvy shoppers. They think there is something wrong with a home priced too low while high prices turn them off. Furthermore, overpriced homes that stay on the market for more than 90 days are extremely difficult to sell. Ensure pricing your home right the first time by being reasonable. Even though prices are rising in many areas, make sure to compare your home to similar properties on the market in your neighborhood. You also should compare similar homes that have recently sold.

Your Guide to Utah’s Home Shortage

As the Utah housing market dries up, Realtors speculate that there is only four months of inventory left. In fact, if homeowners stopped listing their houses today,Home with For Sale Sign there would be no homes left on the market by the end of April. Of course, that probably won’t happen as buyers and sellers continue to seek services from real estate professionals. However, we recognize that demand continues to outpace supply.

Many factors contribute to the supply and demand issue plaguing the real estate market including the state’s rapidly increasing population growth. The rise in households now exceeds the number of new housing units in Utah for the first time in more than 40 years. This gap results in strong demand and inadequate supply for all segments in the housing market including apartments, existing homes and new construction.

Going forward, the home shortage will result in higher home and rental prices. Last year, the median sales price of a single-family home in Davis County reached an all-time high of $295,000. Experts predict that single-family home prices will increase five to 7 percent in 2017 alone. Multi-family units are expected to increase 6 to 8 percent.

Find out what your home could sell for here

Selling Your Home: Autumn vs Spring

When it comes to selling your home, which season is better? Autumn or Spring? There are many opinions or theories out there, but evidence is pointing towards Spring.

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According to a recent study by Zillow, on average, homes put on the market between May 1 to May 15 sold 18 days faster than those homes put on market after. In addition, homes put on the market at that time sold for a little more money.

Some other important factors to know about selling your home in the Spring:

  • Less inventory. Because some people feel they shouldn’t list their property under the possible threat of snow and ice, many wait to put their homes on the market. However, if you’re home is the only one on the market in your area (or one of the few) there is a better chance that you’ll have more interest on your home.
  • Job relocations. People tend to get relocated around the New Year (first quarter) which means there is a higher demand for homes for sale. If you’re home is on the market during this time, you not only have a greater chance of selling your home faster and at your asking price.
  • Higher listing price. Stats show homes sell at a slightly higher price in the winter and early spring months. This is for three reasons, 1) agents tend to be more adamant about pricing the home at the right price, 2) you’re more likely to receive an offer that is too good to pass up, and 3) interest rates tend to go up in the spring so buyers tend to be more willing to pay the higher price.

As you move forward to preparing to sell your home, your real estate agent can help you determine the best price for you home, answer all your questions, and support you as you move through the process of selling your home.

Ready to sell? Give us a call today!