Each year it seems the housing market takes a different tone. Will it be a sellers market with inflated sales prices and bidding wars? Or will it be a buyers market with tons of choices?
Here are 6 market insights that will give you a head start!
Right Now = A Great Time To Sell
The winter selling season was crippled by the polar vortex, especially here in the midwest. There is pent up demand from buyers who've been waiting for better weather to brave the house hunt. Mortgage rates are still at historic lows. Buyers are poised to buy and ready to start looking.
Know Your Numbers: 60%
Sixty percent of all homes sold in 2014, will be sold between May to August. Putting your home on the market at the beginning of the selling season will help your chances of snagging a winning offer before buyers turn their attention back to school starting in September.
Price It Right
Many areas in the country have seen double digit price increases in the last year. The last quarter of 2013 saw prices slow nationally. Pricing is a critical component to getting your home sold. Check recent sales of similar properties to determine a sales price. A recent appraisal on your property can be good ammunition.
Bidding Wars Are Not Back
Bidding wars were common in the summer of 2013, but are less right now. Don't bank on fielding 2 or 3 offers at once. There still is a good chance that you'll still get the one that will be a win/win for both you and the buyer.
It Pays To Be Ahead Of The Curve
Try to get a jump on the competition. Right now you're on the cusp of the prime buying and selling season. If you list soon, you will have less competition, than if you put your house on the market in May or June. Since it's early, your home can have it's moment in the spotlight, with less inventory. Buyers that brave the cold to house shop are clearly motivated.
Make It Pop Off The Computer (Or Smart phone) Screen
In this new mobile era, a huge percentage of buyers use smart phones to start their home search online. This number is expected to rise, as more buyers take advantage of the easy access to knowledge on the internet. Take great pictures of your home, so it will pop off the screen. You want to be sure that you get buyers attention.