The spring housing market is arriving early. Now is the time to get a big jump on the competition.
Updated: Feb 10, 2020
The spring real estate market tends to be the busiest time of the year. If you’re listing your home this spring, you’ll likely enjoy the attention of buyers looking when things begin to green up – but you’re also going to have more competition. Listing sooner, rather than later may be the best bet. Here are some ways to prepare for the spring market.
When is The Best Time to Sell?
Spring sellers may enjoy more offers at higher prices due to competitive buyers. But they also have to deal with more homes on the market taking the attention off their own listing.
The spring real estate market tends to be the most saturated, but it’s also the seasonal market with the most buyers. For lakeshore homes and cabins, buyers start looking early in the season so they can enjoy the lake for the entire summer.
How quickly do you need to sell? Will you be selling your home and plan on making an offer on a new one? Timing is key for selling and buying, so make sure you know what to expect from the spring market in your area. The spring market for listing a home actually begins in January and continues through April. If you’re hoping to sell this spring but haven’t listed your house yet, now is the time. You’ll still be able to catch those buyers who want to close in the next couple of months and be settled in by summer. If you are considering selling, or have listed before but didn't see much action, read on for tips to sell.
Tips for a Quicker Home Sale
One advantage of the spring market is that there are typically more buyers to put offers is on your home. But you should still do what you can to help your home stand out from other sales:
Set the Right Price -- This is sometimes the most difficult aspect of selling your home. It is important not to overprice your home as it will not sell and turn off buyers. You will most likely have a personal bias about how wonderful your property is, but you need to compare it to recent sales in your area to determine the right price. Your REALTOR® will provide a CMA (Comparative Market Analysis) to help you find the right price range for your home.
Start Packing -- It’s a good idea to start packing your non-necessary and personal items before your house is listed. One reason is that you will not have as much to pack later when the house is sold, but also it will help remove extra things that can distract home buyers.
Make the Repairs -- Everyone has a few little “issues” they’ve just not gotten around to repairing yet. This is the time to make those repairs. The last thing you want is for buyers to have the upper hand. A buyer that points out repairs that are required will offer a lower price. If you plan to do any updates, funnel your money toward kitchens and bathrooms. That doesn’t mean you have to gut your kitchen and spend thousands to fix it up. Just look at the areas that could turn off a potential buyer – maybe by replacing a dingy sink or outdated light fixtures.
Remove Clutter -- You want to present your home in the best light possible so buyers can picture themselves living in your place. Remove personal items such as family photos, fridge art, mail, magazines etc. and keep your home as neat as possible.
Tackle the House Cleaning -- Complete a serious and thorough cleaning throughout your home, making sure all your surfaces gleam. Once you do a one-time thorough cleaning, it will easier to keep up in the months ahead.
Improve Curb Appeal -- Make sure that the first impression of your home is a great one. Clean up flower beds and planters, prune trees and hedges, repair decks and window trims to make your home look inviting.
Work with an agent. It can be tempting to cut costs by selling the property on your own, especially if you live in an area that sells quickly. But a good real estate agent can make sure your house is on the major listing sites, is shared on their social media sites and facilitate the messier, more complicated parts of the sale so the process moves faster.
Preparing for the Selling Process
Selling your home can be a stressful process, especially if you’re also shopping the market for a new house to move to. Now is the best time to catch buyers when they’re starting their spring house hunting and there is lower inventory; especially lake homes!
Looking for more real estate tips? Contact Jenny Hilton at Cabin Source Realty for personalized recommendations on selling your home. (612)834-0079