Looking for the right timing in selling you house can be a bit of a challenge especially that you can’t always predict the real estate market. For starters there is probably a need to establish a new approach to sell your house quickly this 2016.
Take note that this year is an election year and the interest rate are higher than the quarter-point hike in December. Looking at the past real estate cycle, here are some of the best strategies you can implement in your real estate marketing plan to sell your home quickly.
Price your home right
This is no longer a novel tip but still holds the most important aspect in selling a home. Setting a lower or higher price can both start a bidding war, which could even put you back in financial roller coaster. For example, underpricing can make your home sell fast but the drawback strikes on the unpaid interest you will have to pay later on. Let’s say you’ve put up a price less than your home market value and your home was sold. Where will you get the extra money to cover other extra expenses, aside from the interest?
Home buyers are very tech savvy nowadays and they watch listings like hawks, vying for the houses that are priced right. Sellers simple to be realistic in their prices.
Finance the sale yourself
The mortgage rate is expected to rise this year and if it keeps rising, it will start to affect home affordability across the board. So one way to help draw prospects to buy your home is to finance the purchase yourself and make monthly payments for you. In other words, you can be the bank but at least offer a lower interest rate than what buyers would get from a traditional mortgage lender.
Stage your home right
Present your home in the best light possible. The simple thing below can help you attract potential buyers.
- Generally clean your house and change paint if possible
- Remove cobwebs from your ceilings, chimneys, and windows
- Fix the hinges in your doors, closets, and cupboards and make sure they all open easily
- Clear up your lawn (mow the grasses and cut the bushes that block the windows)
- Display clean towels in bathrooms
Time the sale
Spring time still holds the best time of the year to put your house in the market. This year you could take advantage of the housing market uncertainties that election may bring and get your house sold even before spring otherwise. If you are concerned that election could through a tug in the market, then have your house listed before spring before wild speculations sets fear among homebuyers.
Your safest target prospects this 2016 are those who are between the ages of 18 and 34. Baby boomers will start selling their houses too, which will create more possibilities for millennial to become homebuyers. Since they are your target buyers this year, you should also arrange and decorate your house according to what they may possibly like such as having a gourmet kitchen, balcony, or backyard decks.