First: Now Is A Great Time To Sell
As of this writing, in March of 2021, nationwide real estate inventories in the United States are at historic lows. It is expected that those inventories will exponentially expand by the end of the year owing to the economic impact of pandemic issues. What does this mean for you? Well, it means you should list your house with a realtor as fast as you can if you’re selling.
People are moving more in 2021 than they did in 2020, and they’re looking for real estate deals in markets which aren’t traditionally known for being top-tier real estate centers. Idaho, in 2020 and 2021, is one of the most “moved to” states in America right now. Places like South Dakota, Montana, and Wyoming are seeing people move there as well.
Traditionally “hot” markets are staying that way to a degree; places like L.A. and N.Y.C. have great deals on properties when compared to previous years owing to the economic and political realities of those areas, so you can get a high-dollar property for half the price you would have paid just a few years ago. Accordingly, it’s worth listing or looking, depending on your situation.
That said, regular home sellers and home buyers aren’t looking at real estate investment, they’re looking at moving one property to buy another for their family or other personal needs. So here we’re briefly going to cover best practices in home sales to help give you an inkling of where your first steps should be, and how to move your home successfully.
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1. Listing Your Property, And Figuring Out The Local Market
Listing property with realtors is a great first step; you don’t necessarily have to list at the price they recommend, though this can help you move your property quicker.
Realtors have a financial incentive to sell your house faster, which may lose you money in the long-run. However, time is money; so going with their suggestions may also save money; it depends on the situation.
Simultaneously, look into “as-is” home-buying agencies and house buyers if you’re really in a crunch; such groups will usually buy your house for a little less than it’s worth, but you can get it sold much quicker this way. Also, don’t be afraid to list on your own at your own price; it will get on sites like Zillow, and qualified buyers come to you—just be sure to vet them.
2. Inform Yourself On The Latest Trends
It’s important to keep up-to-date as pertains to the shifting market. To that end, be sure and check out this new post from ISoldMyHouse.com. It includes some of the latest information on real estate markets in accordance with present trends. Real estate represents an illiquid investment, however, the market is very volatile right now, so you need to follow trends.
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3. Fix Up Your Property For Sale
Paint the inside and outside, polish the floors and apply a new coat of polyurethane, replace all the lightbulbs, replace all the fuses, fix up windows, if you’ve got the time and resources replace the flooring in some rooms, finish basements, outfit attics for use, and make that property look as best you can. Landscaping is a very wise move here if you can swing it.
The better your property looks, the more likely you’ll be able to move it fast and at a price which is more profitable than if you didn’t fix it up. What you spend fixing up the property will be reflected in the higher price it ultimately commands. Spend a little, sell at a higher price.
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Get Your House Sold
It can take a few months to sell even the finest properties. So once you’ve fixed up your property, figured out how things are trending, and listed it at the price you think it will command, prepare for the process to take about three months. Consultation through realty groups is a must, but do your own research as well for best overall results.