Lisa Oleksak-Sullivan's Blog
If you’re planning on buying a new home sometime in the near future, you may be wondering when the best time of year to buy a home really is. There’s many theories about when the best time of year to buy a home is. It’s widely known that inventory on homes available for sale picks up in spring. That means that inventory increases, but so too does the volume of competition for people who are buying homes. Just because spring is busy, in real estate that doesn’t mean that it’s necessarily the best time to buy.
Spring is, however, a great time to sell your home. The same goes for the summer as the buying frenzy continues right into the fall for most home buyers. As a buyer or a seller, you’ll want to have a good understanding of the housing market no matter what time of year you’re making your property transactions. Whether you’re buying or selling, you’ll want to know how to get the best bang for your buck. While many people are ready for a change after the long winter months, yet, many people can hold out through other times of the year.
The Market Changes With The Seasons
As the seasons change, so too do the number of people selling versus the number of people who are looking to buy. If you don’t mind the competition and know what you’re looking for, any time is a good time to buy. As a buyer, you’ll either be facing low inventory, tough competition, or a combination of the two. If you’re scoping out the type of home you’d like to live in, you’ll want to browse in the spring. Have your pre-approval ready just in case you find a home you love at the right price. If you’re not in a rush, spring shopping can give you a good idea of what’s out there for you. You’ll be able to narrow down the type of home you want and where you’d like to live when the time is right.
There’s Really No Golden Rule For Timing
When it comes to buying and selling real estate, there is no sweet spot during the year as to when you’ll have better luck. Being prepared and understanding the trends in your area are a good start. When you hire the right real estate agent, they can be your advocate throughout the process of either buying or selling. Agents can research different trends from the time of year that properties are sold in a certain neighborhood right through to the correct pricing for a home just like yours or the one you are looking for.
If you intend to add your residence to the real estate market, you should try to differentiate your house's weaknesses and strengths. That way, you can plan ahead for the home selling journey and make myriad house improvements before you list your residence.
Now, let's take a look at three tips to help you identify your house's weaknesses.
1. Analyze Your Home from a Buyer's Perspective
Oftentimes, it helps to take an objective view of your house and consider why a buyer may choose to purchase your residence over others. At the same time, you may want to think about why a buyer may shy away from your residence too.
By analyzing your house from a buyer's perspective, you may be better equipped than ever before to identify potential home problems. Then, you can take the necessary steps to address these issues. And as a result, you can boost the likelihood of enjoying a fast, profitable home selling experience.
2. Perform a Home Inspection
A home inspection may be worthwhile for a home seller, and for good reason. Conducting a house inspection enables you to receive in-depth insights into your home's condition that you may struggle to obtain elsewhere. And with a house inspection report in hand, you can prioritize home improvement projects accordingly.
Of course, if you decide to conduct a house inspection, you should hire a qualified home inspector. Perform a comprehensive search for home inspectors in your area, and you're sure to find plenty of great options. If you choose a home inspector who possesses lots of industry experience and a sterling reputation, you can conduct a house inspection and gain the insights you need to upgrade your house.
3. Employ a Real Estate Agent
If you are unsure about how to promote your residence to prospective buyers, there is no need to panic. Because if you hire a real estate agent, you can get the help you need to showcase your residence to the right groups of potential buyers.
A real estate agent is a home selling expert who is unafraid to be honest. Thus, he or she can provide unbiased home selling recommendations and suggestions and ensure you can upgrade your residence in no time at all.
Let's not forget about the assistance that a real estate agent can provide throughout the home selling journey, either. A real estate agent will help you craft an effective home listing, set up home showings and open house events and keep you up to date about any offers to purchase your residence. Plus, if you have concerns or questions as you navigate the home selling journey, a real estate agent is ready to respond to them.
For those who want to achieve the best-possible results during the home selling journey, it helps to identify a house's weaknesses as quickly as possible. Thanks to the aforementioned tips, you can immediately identify any home weaknesses and address such problems early in the home selling process.
If you want to sell a house in a buyer's market, it pays to allocate the necessary time and resources to differentiate your home listing from others. Because if you create an informative and engaging home listing, you should have no trouble stirring up interest in your residence, even in a buyer's market.
Now, let's take a look at three tips to help you differentiate your home listing in a buyer's market.
1. Consider the Buyer's Perspective
In a buyer's market, a homebuyer has no shortage of high-quality residences at his or her disposal. As such, you'll want to consider how a buyer may approach your residence and tailor your house listing accordingly.
Think about what led you to purchase your residence in the first place. Then, you can create a home listing that highlights your house's distinct features.
For example, if your home boasts a large, luxurious in-ground swimming pool, you may want to include details about it in your home listing. Or, if your house is located just minutes from many popular attractions, you may want to incorporate this information into your house listing.
2. Be Honest with Buyers
Your goal as a home seller is to craft a house listing that showcases your residence's features. At the same time, you'll want to be honest with buyers to help them make an informed decision about whether to pursue your home.
A detailed home listing that includes accurate information about your house is paramount. Because if your listing is misleading or inaccurate, it may cause problems down the line.
Remember, any problems with a house likely will be identified during a home inspection, a key step in the homebuying process. And if you try to hide these issues, it may slow down or stop a home sale from happening. Conversely, if you are honest with buyers from the beginning, you can make it easy for them to determine whether your residence is the right choice.
3. Consult with a Real Estate Agent
A buyer's market can be tough to navigate, regardless of where you live. Luckily, real estate agents are available to assist sellers in any buyer's market, at any time.
With a real estate agent at your side, you can craft a home listing that hits the mark with the right groups of homebuyers. In fact, a real estate agent will guide you along the home selling journey and help you identify and address any hurdles along the way.
Typically, a real estate agent will learn about your home selling goals. This housing market professional then can help you put together an in-depth home listing that highlights the key features of your house. Perhaps best of all, a real estate agent will share this home listing with dozens of buyers, thereby increasing the likelihood of a quick, profitable home sale.
Ready to list your house in a buyer's market? Use the aforementioned tips, and you can create a top-notch home listing that helps your residence stand out from the competition.
If you're ready to sell your home, you may wonder if the time is right. Timing is truly everything when you’re selling a home. If you have some flexibility, it might be a good idea to wait to sell your home. Even with time constraints, there are a few strategies to employ that can help you find the sweet spot in your time frame.
The Month Matters
It’s widely accepted in the real estate community that the best time to sell a home is in the spring. Since people want to get moved in over the summertime, May could be the best month of the year to put your home on the market.
Springtime offers favorable weather conditions in most places. The good weather means that it’s easy for buyers to get to open houses. Homes will also look more attractive with green grass and flowers blooming. Parents also want to get their kids settled into a new home and new neighborhood over the summer months before they start a new school.
The favorable conditions along with the urgency of springtime buyers translate into more competition which equates to a better price tag for your home because buyers are willing to pay more due to the anxiety of wanting to find a place.
The Day Of The Week Matters
Most buyers start looking for homes when they have free time which is generally on the weekend. That means the end of the week- preferably a Thursday- is a good day to pick to list your home. Homes that were listed earlier in the week will be farther down on the search page. Buyers will be more likely to see your listing first the later in the week that it’s listed.
Consider Your Needs
While timing is a good marketing strategy to sell your home, you need to go by your own timeline. If you need to move due to a job change or other life circumstances, you can’t wait to sell. There are pros to selling during many different times of the year; it just may not be as busy or competitive on the buyer’s side of things. Selling your home fast might not be a sure thing. No matter what time of year you decide to sell your home, just make sure it’s inviting to buyers.
Selling your home may seem like a relatively simple process. You hire an agent, let them take pictures and show the house to prospective buyers, accept an offer, and then close… right?
In reality, there’s a lot that goes into the selling process; especially if you want to have a smooth home sale.
Matters are further complicated by hr fact that most sellers are also in the process of buying, closing, and moving into their new home.
To make the most of your time in the weeks or months leading up to your sale, I’ve put together a list of tips that you can use to get ahead of the curve, making your sale as problem-free and simple as possible.
One of the most important lessons homeowners learn when they sell their first home is how quickly moving day creeps up on them. Make a list of all of the things you need to do before you hand over the keys, and set dates and reminders in your calendar for those tasks.
You can do this if you’re in the beginning stages of finding out when you want to sell by, or if you’re in the final stages of packing and moving your belongings to your new home. Regardless of where you are in the home sale process, you can always benefit from preparedness.
Find an agent
To get the ball rolling, reach out to a real estate agent sooner rather than later. They’ve been through this process several times before and will be able to give you advice that is catered to your specific situation.
Make sure your home is ready for sale
We all love our homes and value the time and effort we put into them. But, to get top dollar for your home and ensure a smooth sale, you’ll probably need to do some work.
This can include getting an inspection to ensure that the vital components of your home are working properly. Knowing this now can save you time and headaches if a buyer’s inspector finds an issue with your home that you weren’t aware of.
Similarly, you’ll want to make your home move-in ready by making small repairs, putting a fresh coat of paint, and cleaning up the exterior of the home.
Do your research when setting a price
Setting the price of a home is not a road you want to take shortcuts on. Research prices for comparable homes in your area, consider recent repairs you made, and value the home at what you think is a fair price.
However, don’t get too attached to one number and be prepared to adapt based on the offers you receive.
Have a moving day plan
Planning for moving day could be its own separate blog post. You’ll want to start packing things you don’t need early on in the process. Then, make arrangements for young children or pets, so that you can focus on the move rather than keeping track of everyone else.