Experts agree that 2014 is looking very good for real estate, but even in a positive-outlook market, challenges to selling exist. In 2014, mortgage interest rates are at least one percentage point higher than they were a year ago, and with fewer homes on the market, home prices are higher.
So with low inventory, still low mortgage interest rates, and modestly rising prices, here's what we'd suggest potential 2014 home sellers resolve to do this year if they're SERIOUS about selling:
1. Overcome any objections a buyer might have.
Buyers are always looking for a reason not to buy your house. Your job as a seller is to eliminate any potential objections that would stand in the way for a buyer to make an offer. If you really want to sell quickly, you'll work hard to exceed the buyer's expectation of your home as well. If your home is competitively priced, and your home's condition exceeds a buyer's expectations based on other homes in the neighborhood, you'll get an offer.
2. Get your home into selling shape.
Cleaning your home is a must. After that, stage your home so it has the television-worthy polish so many buyers expect today. (Yes, they want your home to look like something they'd see on HGTV.) Assess what other sort of work needs to be done, such as fixing things that don't work, touching up paint, or cleaning or replacing your carpets. And if you're going on the market in January, clear out the holiday decorations as quickly as possible.
3. Invite at least three agents to create a comparative marketing analysis (CMA).
Sound strange for a Realtor to suggest this? Well, at the Claus Team, we know we're the best there is at what we do, so we invite competition. Every agent will bring different ideas to the table about how much your house is worth and what kind of marketing plan will work, and its important for you as a seller to see why you're going to choose to work with the Claus Team.
5. Understand what it will take to sell your home and be realistic about the market
A CMA will help you find out what types of properties are selling in your area and how many days they're sitting on the market. Accept the reality of your local market and make sure you price your home aggressively but REALISTICALLY. In this real estate market, one of the worst things you can do is overprice your home from the start. The more realistic you are, the better off you'll be.
6. Consider property management if you can't sell and buy at the same time.
If it's time to move but not necessarily the right time to sell, keep an open mind to the idea of using your home as an income property with our property management services.
We think 2014 has the potential to be an excellent year for sellers in our market, so above all, resolve to be reasonable and informed if you decide to sell your home this year, and the Claus Team will be there to help you every step of the way!