Shifting Winds Are Changing Housing Markets
The Winds Are Shifting In Real Estate
National home sales have historically peaked in spring. This peak has mostly been driven by families with children wanting to settle before the next school season. However, the current state of our nation is far from following traditional or historical patterns.
The ongoing government shutdown, recent natural disasters, and extreme weather patterns are all playing a crucial role in the shifting real estate market. Mortgage rates fell for the first time since February 2018.
Home loan applications surged in the second week of January 2019 according to a Bankrate survey as homebuyers take advantage of lower rates. Home sellers should get ready now to take full advantage of the market if it continues to shift. Here are a few tips to help sellers stand out.
Standing Out In A Crowded Real Estate Market
Real Estate experts are predicting a better housing market for homebuyers in 2019 with increasing new and resale home inventory. Those trying to sell a home may find themselves with competition as more options for homebuyers enter the market.
Most homebuyers want a finished product so upgrades or fixer-upper projects should be started now. Homes could be overlooked if not in good condition and move-in ready for buyers. Upgrades and improvements don’t have to be expensive or labor intensive. There are many simple things that a homeowner can do to be ready for potential buyers.
Curb appeal can be a make or break a deal when trying to get potential buyers in the front door. How a home looks from the street can cause someone to drive-by or stop and come inside.
Curb Appeal To-Do List
- Mow the lawn, prune bushes, plant flowers.
- Pick up trash and clutter
- Clean gutters; pressure wash siding, walkways, driveway
- Replace broken windows
- Clean windows
- Paint the front door
- Replace faded house numbers
- Repair and paint the mailbox
- Add a new welcome mat
First Impressions Matter
Bad smells in the house can turn away potential buyers. Homeowners may not even realize there is a bad smell because they get used to it. There are some easy ways to make sure that the house smells inviting and ready for new owners.
Good Smells To-Do List
- Remove litter boxes and animals
- Spray an air neutralizer
- Use an air cleaning unit
- Put out fresh flowers
- Bake a batch of cookies (this gives a wonderful “welcome home” feel)
Make it Theirs
When a potential buyer is looking at a new home they want to be able to see themselves in it. They want to be able to envision their things on the walls, shelves, and counters.
Make it Their To-Do List
- Remove family pictures
- Pack non-essential items
- Rent a storage unit for extra furniture
- Declutter closets to show their potential
- Clean out drawers and clear the countertops
- Organize kitchen cabinets and linen closets
Everything Should Be Fresh and Clean
Simple repairs and a good dusting may be enough to prepare for a home for sale but, sometimes a room needs a little more than cleaning. Paint can give a room a fresh look and neutral colors appeal to a larger audience.
Fresh and Clean To-Do List
- Repair any wall damage
- Add a fresh coat of paint
- Fix broken closet doors
- Dust and clean ceiling fans
- Clean carpets and rugs
- Dust hanging pictures
- Wash curtains and dust window blinds