The motto “the early bird gets the worm” has more merit in today’s housing market than ever.
For a long time, homeowners have been under the impression that waiting until the end of March, April or even May is the ideal time to put their house on the market. But actually the Super Bowl traditionally kicks-off the spring home buying season on February 1st.
This means sellers should be getting their homes ready sooner than later in order to stand out from
the competition that will inevitably come with the usual flood of listings later in the season. According to JoAnn Coogan, Coldwell Banker, Yorktown Heights, NY, “I always advise my clients that if they snooze, they’ll loose. Getting a head start by taking advantage of the months when there’s less competition will help their property sell.”
That said, sellers who want to get their home to market and sell quickly should put their best foot forward and look at their home with a very critical eye.” Staging a property for sale has become more important than ever before,” says Coogan. “Today’s buyers are looking for move-in ready homes,” she adds.
Vacant homes are hard to sell as buyers have no vision.
Another significant factor to consider is the country’s strengthening economy. With oil prices the lowest they’ve been in years, lower mortgage rates and solid job gains, consumer confidence is on the rise. This means buyers will be finding they can afford more and receive more financial assistance than in recent years. “Who wouldn’t want to purchase a mortgage at a very low rate? Buyers and sellers need to work with the market they’re in and jump on the opportunity as rates could easily change down the road,” says Coogan.
Simple updates such as stylish bedding and accessories can make a home feel more current.
In addition, National Association of Realtors Chief Economist Lawrence Yun says, “home prices have risen for the past three years cumulatively about 25 percent, which boosts confidence in the market and traditionally gives current homeowners the ability to use their equity buildup as a down payment towards their next home purchase.”
If you are thinking of selling your home this spring, Hughes Shelton Realtors can help give your home mass appeal and increase your home’s value.