Tactical Tips for Sellers
Don’t wait. The market is HOT right now. If you are thinking of selling in the spring, you may want to get a jump on it while you don’t have too much competition.
Here’s a few things that would make me want to recommend you move quickly. There are a lot of people who’ve been waiting for a better market. I expect they are “getting the message” and will listing their homes for sale soon.
Right now, without much competition, you are in the driver’s seat as a seller. I think there are likely a lot of people not listing due to Covid concerns. I fully expect that when things “feel” more like normal, they’ll be coming on the market. I expect an increase in listings in the summer and fall this year.
Despite the market doing better than expected, I still believe that we’ll see an increase in bankruptcy and foreclosures later this year. Now sales, might stay strong enough that we won’t experience a negative effect…. But we might not. It’s anybody’s guess. Right now, it looks a lot like a seller’s market…
Do what you can to make sure your home is ready. Fix what’s broken, paint what needs painting, de-clutter and stage.
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Stage to meet the needs of “the new normal”. The home gym, dedicated office space, and bonus room are all pretty darn popular now. Highlight how versatile your home is!
Right now, it’s actually easy to sell a house. Your goal should be to not just sell, but to do whatever you can to generate a bidding war. We have been in multiple offers several times this month already. We do have a few tricks up our sleeves. If you are thinking of selling, ask us about our “Pre-Listing Launch” program. By being strategic, we can create a lot of buzz around your home and generate the best outcome for you.
Tactical Tips for Buyers
The early bird catches the worm. Ask your Realtor to change your searches so the results are sent immediately and don’t wait when a good listing comes out. On our most recent listing, we had 5 showings booked for the same day within just one hour of posting the listing. We were conditionally sold that night. If you were on a search that sent a result the next day, you missed it. The best homes sell fast.
Shoot first, ask questions later. Write the offer (with conditions). We’ve seen so many buyers miss out on great homes while they are “thinking about it”. If you have seen a few homes and you find one you like, don’t delay. Chances are if you like it, somebody else will too!
Look where others aren’t looking. Is your agent waiting or is your agent out looking? We’ve been really working hard to find properties for our buyers. We have great agents calling us daily asking if we have new listings coming to the market…. You should expect your agent to be working hard to find you your next home!
Maybe you need to expand your search criteria? Review with your Realtor to make sure you aren’t missing “almost” perfect homes. Make strong offers. Tips for Investors
With lending rates at all times lows, now might be the time to do a mortgage review and explore equity take outs and refinancing options. Want a no-obligation review? Let us know and we’ll connect you with one of our favorite mortgage professionals.
If you have been thinking of selling, it’s a good time to do that. I do think we’ll have a good buying window for the next few years. If you plan on adding to your portfolio, it’s a good time to have a strategy discussion with an investor focused mortgage broker.