Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

May 8, 2024

Finding Your Perfect Real Estate Agent: A Guide to Trust, Expertise, and That Personal Connection

 

 

Finding the perfect real estate agent is like finding a trusted ally on your home-buying journey. It's an important decision that can make the difference between a stressful experience and a smooth, joyful one. You want someone who not only has the expertise and knowledge to help you navigate the complex world of real estate, but also understands your unique needs and desires. In this blog, we will explore the key qualities to look for when choosing your real estate agent, so you can find someone who truly feels like a partner in this exciting chapter of your life.

 

Trust and Reliability:

When it comes to selecting a real estate agent, trust is crucial. Look for an agent who has a proven track record of success and a solid reputation in the industry. Check reviews and seek recommendations from friends, family, or trusted professionals. A trustworthy realtor will have your best interests at heart and will be committed to maintaining open and honest communication throughout the entire process. They will work hard to negotiate the best deals and ensure your needs are met.

 

Local Expertise:

A knowledgeable real estate agent who understands the local market is worth their weight in gold. The right agent will have extensive knowledge of the neighborhoods you're interested in, including schools, amenities, and market trends. They will be able to provide valuable insights and guide you to the best areas that align with your lifestyle and preferences. A local expert will help you make informed decisions and find a neighborhood that truly feels like home.

 

Effective Communication:

Clear and effective communication is vital when working with a real estate agent. Make sure your agent is responsive, attentive, and genuinely listens to your needs. They should keep you informed about new listings, market updates, and any changes in the status of your home-buying journey. A good agent will be proactive in keeping the lines of communication open, making the process as smooth as possible.

 

Empathy and Understanding:

Buying a home is an emotional journey, and having an agent who understands your unique circumstances and can empathize with your concerns is invaluable. A compassionate realtor will take the time to understand your vision, your non-negotiables, and your budget. They will go the extra mile to find properties that meet your criteria and make you feel truly cared for throughout the process.

 

Personal Connection:

Lastly, finding a real estate agent with whom you have a genuine connection is essential. You want someone who not only understands your wants and needs but also shares your excitement and passion for finding the perfect home. Look for an agent who actively listens, demonstrates patience, and shows a genuine interest in your story. Building a personal connection with your agent will ensure a smoother and more enjoyable home-buying process.

 

Conclusion:

Choosing the right real estate agent is an important decision that can greatly impact your home-buying experience. By prioritizing trust, expertise, clear communication, empathy, and a personal connection, you'll find an agent who becomes not just a partner, but also a friend on this exciting journey. Remember, it's not just about buying a house; it's about creating a home where memories are made and cherished. Take the time to find the agent who will help you find that perfect place to call your own. Happy house hunting!

May 7, 2024

What Type of Home is Right for You

There’s a lot to consider when buying a home. You’ve probably asked yourself a million questions already. What’s in my budget? What will my annual tax bill look like? How far am I willing to commute? How are the schools? Of course, that’s all incredibly important. Particularly if you think it might be your forever home.

The next question most people will ask, or should be asking, is what kind of home is right for me? Single family? Condominium? Townhouse? Chateau in the French countryside? So many questions! Over the next few paragraphs, we’ll examine what types of residences, including the most common architectural styles, are available right now to you, the homebuyer.

First, let’s tackle single-family homes. Single-family homes are usually defined as free standing or detached residential structures. There’s some leeway there where properties can be seemingly attached but separated by a wall that extends the full vertical height of the home, roof excluded. As one can imagine, there’s a lot of variety in single-family homes. Several are listed below.

Ranch
A ranch-style home is a single level home. They’re most usually wider than they are tall. There are many reasons to prefer to single level living, including: you don’t want to carry furniture upstairs, you have mobility concerns that make routine stair climbing inconvenient, and/or you prefer an open floor plan that allows you to flow from one end of the square footage to the other without ascending or descending stairs or other obstructions.

Cape Cod
Cape Cods also tend to be single level but not always. This style is most known for its rectangular structure with a side roof that sits lower than the main roof. They’re also known for their compact design so don’t expect vaulted ceilings or oversized rooms. Most rooms are built off a central point in the house, usually a fireplace.

Victorian
If you’ve always dreamed of a library with a sliding ladder, stained glass, a sharp roof, and sprawling gothic staircases, a Victorian might be for you. Named after the era of Queen Victoria, one can easily see high society types in waistcoats and corsets enjoying tea as they discuss the recent developments in the Jack the Ripper case. It’s not uncommon to find remnants of past conveniences like dumbwaiters and large butler’s pantries in these older homes.

Tudor
Tudor homes are most recognizable for the hand-hewn wood beams and cross beams set in masonry, stucco, or elaborate stonework on the exterior of the home. In other words, exposed framing. These homes were very common in the late 19th and early 20th centuries.

Colonial
Colonial homes are about symmetry. They can be made of wood, stone, or brick and feature windows and doors of uniform measurement. Often the windows are accented by shutters and the front door is placed at the center of the home.

Contemporary
Contemporary homes can borrow the best features of older styles but prioritize minimalism. They’re less flashy and thus are often unfairly labeled boring or “cookie cutter.” The fact of the matter is, contemporary homes are some of the most level, symmetrical, and customizable homes available on the current market.

Farmhouse
It’s exactly what you think it is. The exterior of the home can borrow from any of the above styles, but the interior showcases a more rustic, rural, or woodsy style. Imagine exposed wood, low-hanging metal light fixtures, screen doors, and light Earthy color schemes that incorporate brown, grey, off-white, and muted yellows.

Villa
Villa style homes borrow from Spanish, French, and Mediterranean structural styles. They are often secluded or tree-shaded, almost always have a large patio or private courtyard, and roofs that overhang the main structure of the home.

 Okay, so maybe you’re sold on homeownership, but you hate cutting the grass and you generally prefer a lower maintenance lifestyle. A townhome or condo could be for you! Townhomes generally accumulate their square footage vertically. Which is to say, each level is smaller in scale but if you combined the space found across levels, you’d rival that of a detached single-family home. Townhomes can often be found in rows of multiple units in cities and suburban neighborhoods. Condominiums are large, independently owned home units connected to a much larger complex or structure. Both townhomes and condos, because of their close proximity to other units, usually have limited yard or landscaping space. Which, for some is a bonus.

What about a good old-fashioned apartment? If you’re not ready to buy or accept the responsibility of upkeep that comes with a single-family style home, maybe you’re better off renting for the time being. You likely won’t need to worry about outside maintenance or fixing major issues like electrical, plumbing, or structural defects or damage. However, the tradeoff is the lack of ability to customize or renovate as you see fit. Some landlords prohibit painting walls, keeping pets, or playing music above a certain decibel limit. After all, they want to protect their investment.

Right now is a great time to buy a home. Just do your research! Find the home that best suits your needs. For extra guidance, consult your local real estate professional.

Posted in Buyer Information
April 23, 2024

Navigating Down Payment Assistance

Navigating Down Payment Assistance Programs:

A Home Buyers Guide:

Owning a home is a dream for many, but the financial hurdles of buying a house can often feel insurmountable. One major obstacle is the down payment, typically a significant upfront cost that can deter prospective buyers. However, there’s good news: over 2,300 down payment assistance programs exist across the U.S. to help make homeownership more accessible. In this guide, we’ll explore how these programs work and how you can apply for them.

 

Understanding Down Payment Assistance Programs

Down payment assistance programs are initiatives offered by various entities, including government agencies, non-profit organizations, and even employers. Their primary goal is to provide financial support to qualified homebuyers, typically in the form of grants, loans or tax credits, to help cover a portion or all of the down payment and sometimes closing costs.

These programs vary widely in terms of eligibility criteria, funding availability, and the amount of assistance offered. Some programs are specifically tailored to first-time homebuyers (40% of programs do not have a first-time homebuyer requirement), while others may target certain demographics or geographical areas. It’s essential to research the specific programs available in your area to determine which ones you may qualify for.

How do Down Payment Assistance Programs Work?

While the specifics can vary, the general process of accessing down payment assistance typically involves the following steps:

  1. Research and Determine Eligibility: You can use the free Down Payment Resource search tool to find available programs and determine your eligibility based on factors such as income, credit score, and home purchase price. 
  2. Apply for Assistance: Once you’ve completed your search, you can connect with a mortgage lender and get pre-approved. Or, if you already have a lender in mind, you share your results with your loan officer and complete an application. The application process may involve providing documentation such as pay stubs, tax returns, and bank statements to verify your financial situation. We’ve outlined a few important questions to ask your mortgage lender that can help you get started.
  3. Attend a Homebuyer Education Course: Most down payment assistance programs require applicants to complete homebuyer education courses, especially first-time buyers. These courses can be done in-person or virtually and provide valuable information about the homebuying process, financial management, and homeownership responsibilities.
  4. Receive Approval and Assistance: If your application is approved, you’ll receive confirmation of your eligibility and details about the assistance you qualify for. This assistance may come in the form of a grant, forgivable loan, low-interest loan or tax credit, depending on the program.
  5. Purchase Your Home: Keep in mind that some assistance programs may require you have a home in mind before applying. That’s why it’s essential to work closely with your lender and real estate agent to ensure a smooth transaction.
  6. Comply with Program Requirements: Most down payment assistance programs have specific requirements that you must meet to maintain eligibility. For example, you will need to occupy the home as your primary residence for a certain period or fulfill certain homeownership responsibilities.

Tips for Applying for Down Payment Assistance Programs

Navigating the world of down payment assistance programs can seem daunting, but with careful planning and research, you can increase your chances of success. Here are some tips to help you along the way:

  • Start Early: Begin researching down payment assistance programs well in advance of your planned home purchase. Some programs have limited funding and may have waiting lists or application deadlines.
  • Improve Your Credit Score: A higher credit score can increase your chances of qualifying for assistance and securing favorable terms. Take steps to improve your credit by paying bills on time, reducing debt, and correcting any errors on your credit report. 
  • Gather Documentation: Be prepared to provide documentation of your income, assets, and financial history when applying for assistance. Having this information readily available can streamline the application process.
  • Seek Professional Guidance: Consider working with a HUD-approved housing counselor, mortgage lender or real estate professional who has experience with down payment assistance programs. They can help you navigate the process and identify the programs that best suit your needs.
  • Stay Informed: Keep abreast of changes to down payment assistance programs and eligibility requirements in your area. Subscribe to newsletters, attend workshops, and regularly check program websites for updates.

What Are You Waiting For?

Down payment assistance programs can be a valuable resource for prospective homebuyers, helping to make homeownership more attainable. By understanding how these programs work, you can increase your chances of successfully accessing assistance and achieving your goal of owning a home. With careful planning and diligence, the path to homeownership can become a reality.

Find down payment programs in your area today and see if you’re eligible!

 

For more information on down Payment Assistance click link below

Down Payment Assistance

April 23, 2024

Is it Better to Rent or Buy Right Now

Is It Better To Rent Than Buy a Home Right Now?




You may have seen reports in the news recently saying it’s more affordable to rent right now than it is to buy a home. And while that may be true in some markets if you just look at typical monthly payments, there’s one thing that the numbers aren’t factoring in: and that’s home equity. Here’s a look at how big of an impact equity can have and why it’s worth considering as you make your decision.

What the Headlines Are Based on

The graph below uses national data on the median rental payment from Realtor.com and median mortgage payment from the National Association of Realtors (NAR) to compare the two options. As the graph shows, especially if you’re not looking for a lot of space, it can be more affordable on a monthly basis to rent:

 No Caption Received

 

But if you’re looking for something with 2 bedrooms, the gap between the median rent and the median mortgage payment starts to shrink to a difference that may be more doable. The median monthly mortgage payment is $2,040. The median monthly rent for 2 bedrooms is $1,889. That’s a difference of about $151 a month. But here’s what happens when you factor in equity too.

How Equity Changes the Game

If you rent, your monthly rental payments only go toward covering your housing costs and your landlord’s expenses. So other than saving a bit more per month and maybe getting your rental deposit back when you move, the money you spent on housing each month is gone – forever.

When you buy, your monthly mortgage payment pays for your shelter, but it also acts as an investment. That investment grows in the form of equity as you make your mortgage payment each month and chip away at what you owe on your home loan. Your equity gets an extra boost as home values climb – which they typically do.

To give you a clearer idea of how equity can really stack up fast, here’s some data for you. Each quarter, Fannie Mae and Pulsenomics publish the results of the Home Price Expectations Survey (HPES). It asks more than 100 economists, real estate professionals, and investment and market strategists what they think will happen with home prices. In the latest release, those experts say home prices are going to keep going up over the next five years.

Here's an example of how equity builds based on the projections from the HPES (see graph below):

No Caption Received

 

Imagine you purchased a home for $400,000 at the start of this year. Chances are, since you bought, you plan to stay put for a while. Based on the HPES projections, if you live there for 5 years, you could end up gaining over $83,000 in household wealth as your home grows in value.

Here’s how that stacks up compared to renting, using the overall median rent from above:

 No Caption Received

 

While you may save a bit on your monthly payments if you rent right now, you’ll also miss out on gaining equity.

So, what’s the big takeaway? Whether it makes more sense to rent or buy is going to vary based on your personal finances. It’s not a good idea to buy if the numbers truly don’t work for you. But, if you’re ready and able, adding equity as the final puzzle piece may be enough to help you realize buying is a better move in the long run.

Bottom Line

When it comes down to it, buying a home gives you a benefit renting just can’t provide – and that’s the chance to gain equity. If you want to take advantage of long-term home price appreciation, let’s go over your options.

Posted in Buyer Information
April 23, 2024

Is It Getting More Affordable to Buy a Home

Is It Getting More Affordable To Buy a Home?




Over the past year or so, a lot of people have been talking about how tough it is to buy a home. And while there’s no arguing affordability is still tight, there are signs it’s starting to get a bit better and may improve even more throughout the year. Elijah de la Campa, Senior Economist at Redfinsays:

We’re slowly climbing our way out of an affordability hole, but we have a long way to go. Rates have come down from their peak and are expected to fall again by the end of the year, which should make homebuying a little more affordable and incentivize buyers to come off the sidelines.”

Here’s a look at the latest data for the three biggest factors that affect home affordability: mortgage rateshome prices, and wages.

1. Mortgage Rates

Mortgage rates have been volatile this year – bouncing around in the upper 6% to low 7% range. That’s still quite a bit higher than where they were a couple of years ago. But there is a sliver of good news.

Despite the recent volatility, rates are still lower than they were last fall when they reached nearly 8%. On top of that, most experts still think they’ll come down some over the course of the year. A recent article from Bright MLS explains:

Expect rates to come down in the second half of 2024 but remain above 6% this year. Even a modest drop in rates will bring both more buyers and more sellers into the market.” 

Any drop in rates can make a difference for you. When rates go down, you can afford the home you really want more easily because your monthly payment would be lower.

2. Home Prices

The second big factor to think about is home prices. Most experts project they'll keep going up this year, but at a more normal pace. That’s because there are more homes on the market this year, but still not enough for everyone who wants to buy one. The graph below shows the latest 2024 home price forecasts from seven different organizations:

 No Caption Received

 

These forecasts are actually good news for you because it means the prices aren't likely to shoot up sky high like they did during the pandemic. That doesn’t mean they’re going to fall – they'll just rise at a slower pace.

3. Wages

One factor helping affordability right now is the fact that wages are rising. The graph below uses data from the Federal Reserve to show how wages have been growing over time:

 No Caption Received

 

Check out the blue dotted line. That shows how wages typically rise. If you look at the right side of the graph, you'll see wages are climbing even faster than normal right now.

Here’s how this helps you. If your income has increased, it's easier to afford a home because you don't have to spend as big of a percentage of your paycheck on your monthly mortgage payment.

Bottom Line

If you stack these factors up, you’ll see mortgage rates are still projected to come down a bit later this year, home prices are going up at a more moderate pace, and wages are growing quicker than normal. Those trends are a good sign for your ability to afford a home.

Posted in Buyer Information
April 23, 2024

What You Really Need to Know About Home Prices

What You Really Need To Know About Home Prices




According to recent data from Fannie Mae, almost 1 in 4 people still think home prices are going to come down. If you’re one of the people worried about that, here’s what you need to know.

A lot of that fear is probably coming from what you’re hearing in the media or reading online. But here’s the thing to remember. Negative news sells. That means, you may not be getting the full picture. You may only be getting the clickbait version. As Jay Thompson, a Real Estate Industry Consultant, explains:

“Housing market headlines are everywhere. Many are quite sensational, ending with exclamation points or predicting impending doom for the industry. Clickbait, the sensationalizing of headlines and content, has been an issue since the dawn of the internet, and housing news is not immune to it.”

Here’s a look at the data to set the record straight.

Home Prices Rose the Majority of the Past Year

Case-Shiller releases a report each month on the percent of monthly home price changes. If you look at their data from January 2023 through the latest numbers available, here’s what you’d see:

 a graph of green bars

 

What do you notice when you look at this graph? It depends on what color you’re more drawn to. If you look at the green, you’ll see home prices rose for the majority of the past year.

But, if you’re drawn to the red, you may only focus on the two slight declines. This is what a lot of media coverage does. Since negative news sells, drawing attention to these slight dips happens often. But that loses sight of the bigger picture. 

Here’s what this data really says. There’s a lot more green in that graph than red. And even for the two red bars, they’re so slight, they’re practically flat. If you look at the year as a whole, home prices still rose overall.

It’s perfectly normal in the housing market for home price growth to slow down in the winter. That’s because fewer people move during the holidays and at the start of the year, so there’s not as much upward pressure on home prices during that time. That’s why, even the green bars toward the end of the year show smaller price gains.

The overarching story is that prices went up last year, not down.

To sum all that up, the source for that data in the graph above, Case Shiller, explains it like this:

Month-over-month numbers were relatively flat, . . . However, the annual growth was more significant for both indices, rising 7.4 percent and 6.6 percent, respectively.”

If one of the expert organizations tracking home price trends says the very slight dips are nothing to worry about, why be concerned? Even Case-Shiller is drawing your attention to how those were virtually flat and how home prices actually grew over the year.

Bottom Line

The data shows that, as a whole, home prices rose over the past year. If you have questions about what’s happening with home prices in our area, let's chat.

Posted in Market Updates
April 9, 2024

How to price your home this spring

Why Overpricing Your House Can Cost You




If you’re trying to sell your house, you may be looking at this spring season as the sweet spot – and you’re not wrong. We’re still in a seller’s market because there are so few homes for sale right now. And historically, this is the time of year when more buyers move, and competition ticks up. That makes this an exciting time to put up that for sale sign.

But while conditions are great for sellers like you, you’ll still want to be strategic when it comes time to set your asking price. That’s because pricing your house too high may actually cost you in the long run.

The Downside of Overpricing Your House

The asking price for your house sends a message to potential buyers. From the moment they see your listing, the price and the photos are what’s going to make the biggest first impression. And, if it’s priced too high, you may turn people away. As an article from U.S. News Real Estate says:

Even in a hot market where there are more buyers than houses available for sale, buyers aren't going to pay attention to a home with an inflated asking price.”

That’s because no homebuyer wants to pay more than they have to, especially not today. Many are already feeling the pinch on their budget due to ongoing home price appreciation and today’s mortgage rates. And if they think your house is overpriced, they may write it off without even stepping foot in the front door, or simply won’t make an offer if they think it’s priced too high.

If that happens, it’s going to take longer to sell. And ideally you don’t want to have to think about doing a price drop to try to re-ignite interest in your house. Why? Some buyers will see the price cut as a red flag and wonder why the price was reduced, or they’ll think something is wrong with the house the longer it sits. As an article from Forbes explains:

“It’s not only the price of an overpriced home that turns buyers off. There’s also another negative component that kicks in. . . . if your listing just sits there and accumulates days on the market, it will not be a good look. . . . buyers won’t necessarily ask anyone what’s wrong with the home. They’ll just assume that something is indeed wrong, and will skip over the property and view more recent listings.”

Your Agent’s Role in Setting the Right Price

Instead, pricing it at or just below current market value from the start is a much better strategy. So how do you find that ideal asking price? You lean on the pros. Only an agent has the expertise needed to research and figure out the current market value for your home.

They’ll factor in the condition of your house, any upgrades you’ve made, and what other houses like yours are selling for in your area. And they’ll use all of that information to find that target number. The right price will bring in more buyers and make it more likely you’ll see multiple offers too. Plus, when homes are priced right, they still tend to sell quickly.

Bottom Line

Even though you want to bring in top dollar when you sell, setting the asking price too high may deter buyers and slow down the sales process.

Let’s connect to find the right price for your house, so we can maximize your profit and still draw in eager buyers willing to make competitive offers.

Posted in Seller Blogs
March 26, 2024

What's the latest with Mortgage Rates

 

What’s the Latest with Mortgage Rates?




Recent headlines may leave you wondering what’s next for mortgage ratesMaybe you’d previously heard there were going to be cuts this year that would bring rates down. That refers to the Federal Reserve (the Fed) and what they do to their Fed Funds Rate. While cutting, or lowering, the Fed Funds Rate doesn’t directly determine mortgage rates, it does tend to impact them. But when the Fed met last week, a cut didn’t happen — at least, not yet. 

There are a lot of factors the Fed considered in their recent decision and most of them are complex. But you don’t need to be bogged down by those finer details. What you really want is the answer to this question: does that mean mortgage rates aren’t going to fall? Here’s what you need to know. 

Mortgage Rates Are Still Expected To Drop This Year

While it hasn’t happened yet, that doesn’t mean it won’t. Even Jerome Powell, the Chairman of the Fedsays they still plan to make cuts this year, assuming inflation cools:

“We believe that our policy rate is likely at its peak for this tightening cycle and that, if the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this year.”

When this happens, history shows mortgage rates will likely follow. That means hope isn’t lost. As a recent article from Business Insider explains:

“As inflation comes down and the Fed is able to start lowering rates, mortgage rates should go down, too. . .

What This Means for You

But you don’t necessarily want to wait for it to happen. Mortgage rates are notoriously hard to forecast. There are so many factors at play and any one of those can change the projections as the economy shifts. And it’s why the experts offer this advice. As Mark Fleming, Chief Economist at First American, says:

“Well, mortgage rate projections are just that, projections, not promises and don't forget how hard it is to forecast them. . . So my advice is to never try to time the market . . . If one is financially prepared and buying a home aligns with your lifestyle goals, then it could be the right time to purchase. And there's always the refinance option if mortgage rates are lower in the future.”

Basically, if you’re looking to move and trying to time the market, don’t. If you’re ready, willing, and able to move, it may still be worth it to do it now, especially if you can find the home you’ve been searching for.

Bottom Line

If you’re looking to buy a home, let’s connect so you have someone keeping you up-to-date on mortgage rates and helping you make the best decision possible.

March 20, 2024

Does it make Sense to buy a Home Right Now

Does It Make Sense To Buy a Home Right Now?




Thinking about buying a home? If so, you're probably wondering: should I buy now or wait? Nobody can make that decision for you, but here's some information that can help you decide.

What’s Next for Home Prices?

Each quarter, Fannie Mae and Pulsenomics publish the results of the Home Price Expectations Survey (HPES). It asks more than 100 experts—economists, real estate professionals, and investment and market strategists—what they think will happen with home prices.

In the latest survey, those experts say home prices are going to keep going up for the next five years (see graph below):

 a graph of green bars

 

Here’s what all the green on this chart should tell you. They’re not expecting any price declines. Instead, they’re saying we’ll see a 3-4% rise each year.

And even though home prices aren’t expected to climb by as much in 2025 as they are 2024, keep in mind these increases can really add up over time. It works like this. If these experts are right and your home's value goes up by 3.78% this year, it's set to grow another 3.36% next year. And another 3.87% the year after that.

What Does This Mean for You?

Knowing that prices are forecasted to keep going up should make you feel good about buying a home. That’s because it means your home is an asset that’s projected to grow in value in the years ahead.

If you’re not convinced yet, maybe these numbers will get your attention. They show how a typical home’s value could change over the next few years using expert projections from the HPES. Check out the graph below:

 a graph of growth in a chart

 

In this example, imagine you bought a home for $400,000 at the start of this year. Based on these projections, you could end up gaining over $83,000 in household wealth over the next five years as your home grows in value.

Of course, you could also wait – but if you do, buying a home is just going to end up costing you more. 

Bottom Line

If you're thinking it's time to get your own place, and you’re ready and able to do so, buying now might make sense. Your home is expected to keep getting more valuable as prices go up. Let’s team up to start looking for your next home today.

Posted in Market Updates
March 8, 2024

The best time to list your house is almost here

 

If you’re thinking about selling this spring, it’s time to get moving – the best week to list your house is fast approaching.

Real estate experts have looked at seasonal trends from recent years (excluding 2020 as an uncharacteristic year due to the onset of the pandemic) and determined the ideal week to list a house this year:

Home sellers on the fence waiting for that perfect moment to sell should start preparations, because the best time to list a home in 2024 is approaching quickly. The week of April 16-22 is expected to have the ideal balance of housing market conditions that favor home sellers, more so than any other week in the year.

If you’ve been waiting for the best time to sell, this is your chance. But remember, before you put your house on the market, you’ve got to get it ready. And if you haven’t started that process yet, you’ll need to move quickly. Here’s what you should keep in mind.

Work with an Agent To Determine Which Updates To Make
Start by prioritizing which updates you’ll make. In February, experts asked more than 1,200 recent or potential home sellers what updates they ended up making to their house before listing it (see graph below):

A graph of a construction update

Description automatically generated with medium confidence

 As you can see, the most common answers included landscaping and painting. Work with a trusted real estate agent to determine what projects make the most sense for your goals and local market.

If Possible, Plan To Have Your House Staged
Once you’ve made any necessary repairs and updates to your house, consider having it staged. According to the National Association of Realtors (NAR), 82% of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home. Additionally, almost half of buyers’ agents said home staging had an effect on most buyers’ view of the home in general. Homes that are staged typically sell faster and for a higher price because they help potential buyers more easily picture their new life in the house.

Bottom Line
Are you ready to sell this spring? Let’s connect to plan your next steps. You can start by making a checklist of what you think your house needs to get ready. Then, we can work together to prioritize your list and move forward together.

Posted in Seller Blogs