Spring remains the best time to sell a home, with many buyers out looking while school is out and the weather improves.
It’s a great time to sell, too. In November, home prices rose 14.6 percent higher than the previous 12 months.
Sellers should not have much of a problem moving their homes to the ‘sold’ column. The supply of houses for sale is low, but there are plenty of buyers around, forcing prices up. Most properties are on the market for less than two months.
For sellers who want the best prices for their homes, start now to fix up and clean up. Expensive renovations are not necessary, but be sure to paint it or scrub it.
De-cluttering is a good way to keep your house display-ready. Put knickknacks, family photos, and collectibles in storage while you are showing the house.
Make sure your cabinets, built-drawers, and closets are cleaned out (and not stuffed!)
You’ll want to think overpricing. Your real estate agent may survey recent sale prices in the neighborhood and find houses that are comparable in price. Although there are many buyers around, you’ll want to come up with a strong, but realistic price to attract the most qualified buyers.
Photos are more important than ever since so many people, especially younger ones, research homes through online sources such as Zillow.
For buyers in areas with a low housing supply, a strong offer is essential, especially if there are other interested buyers.
Make sure your financing is in place and be ready to act quickly. If you see the house you want, sign an offer immediately and get it to the seller.
Try to make a clean offer with few contingencies. If you need to sell your home, put it on the market immediately and arrange temporary housing while you shop for a house.
Be flexible with what you want in a house. Analyze your basic priorities and look for those first. Review homes for sale online in and around your preferred neighborhood so you know what amenities to expect at your price point.
How to sell your home in a post-pandemic market
The best way to understand how the real estate market in your area has been affected by the pandemic is to work closely with a realtor. Additionally, if you want to sell your home during this unprecedented time, the following three tips are a good starting point.
1. Market your home online
Showcasing your home on the internet is a must. Here are a few ways you can virtually bring buyers into the space:
• 3D tours. A virtual rendering of your home in 3D allows potential buyers to explore the property at their leisure.
• Video walkthroughs. A pre-recorded video allows you to take buyers on a guided tour. You can attach it to the listing and share it on social media.
• Showings by proxy. A live online showing of your home will give buyers an opportunity to ask questions and revisit rooms as needed.
In addition, your listing should include quality photos and an expertly written description that highlights the property’s assets.
2. Anticipate buyers’ needs
Since many people now permanently work from home, having or staging a home office can help you attract buyers. Additionally, home gyms are increasingly popular, which makes them another good staging option if you have unused space.
Furthermore, you should be prepared for possible disclosures or amendments to purchase agreements. Some buyers will be hesitant to make an offer without contract protection specific to circumstances related to the pandemic.
3. Maximize outdoor spaces
Outdoor areas to entertain are more important than ever, and homebuyers are increasingly interested in houses with beautiful backyards. Consider installing or updating a deck, putting in a fence, and adding features like a porch swing, fountain, or fire pit. Lastly, draw more attention to your home by boosting its curb appeal with landscaping and upgrades to the driveway, garage, and front door.
Keep in mind that your real estate agent is available to answer any questions and help you make the right moves.
Warren County Market Report – March 2021 with Jen Avery
Spring is in action. Buyers are still struggling to ratify contracts, up against bidding wars on many properties. Prices continue to be at an all time high. Watch this video for a quick summary of Warren County real estate for March 2021. Charts demonstrate the changes in the market, so be sure to click play!
In general summary:
- New Listings are DOWN -9.8%.
- New Pending UP 24.3%.
- Closed sales are DOWN -5.4%
- Average Median Sold $291,000
- Average Days on Market 31
*If you would like a copy of this report emailed to you, please send request to firstname.lastname@example.org.
Resource: March 2021 Market Stats by ShowingTime
Bright MLS: Statistics calculated April 2021.
Jennifer Avery, REALTOR® “Your Happy Home Expert!”
BPOR, SRS, CNE, E-Pro Certified | Licensed in VA
email@example.com | 540-683-0790
CRUM REALTY, INC| 318 S Loudoun St, Winchester VA 22601 | 540-662-0400
How tech makes real estate easier
If your real estate agent flipped through a printed copy of the Multiple Listing Service the last time you bought or sold a house, you might be surprised at how things have changed. Namely, advances in technology have completely upended the market.
Consider this: Most potential buyers have already done a virtual walk-through of a property before ever setting foot in the house. Today’s listings are all online and often include not just photos, but videos and 3-D walk-throughs. And it’s easy to browse online via sites like realtor.com, Zillow, Trulia, Redfin, and others.
Here are some other ways that tech has influenced the real estate market:
Offers are made faster. Today’s offers are sent in and negotiated via email, and don’t even require a paper-to-pen signature. E-sign and other software mean you can communicate and make changes to contracts in minutes.
Apply for a mortgage online. Gone are the days of making an appointment to fill out reams of paperwork. Today, the entire process can be done online. Granted, you can’t plead your case to a loan officer in person, but on the flip side, you don’t even have to brush your hair.
Do your research online. Your real estate agent will probably still visit the town hall to check records, but a lot of your research can be done online. More and more public records are digitized each year, making it easier (and faster) to research property from the comfort of home.
The tech inside of homes themselves. Today, high-speed internet is a need instead of a want. So homes that have easy access to strong broadband are large — though not always — more attractive than those without. More homes are outfitted with smart technology as well, meaning everything from security cameras to garage doors and refrigerators is high-tech and can be controlled from mobile devices.
3 tips for savvier furniture shopping
When furnishing a room, a little planning goes a long way. Most importantly, it helps you avoid making impulse purchases and selecting furniture that’s the wrong size. Here are some tips to help you make the right home decor choices.
1. Identify your priorities
Before you start furniture shopping, list everything you need in order of importance. This will help you determine how much of your budget to put toward each item. For instance, if you have trouble sleeping, you may decide to splurge on your mattress rather than on a dresser or vanity. Or, if you work from home, you may want to spend a little extra on an ergonomic office chair.
2. Look for deals
Once you’ve planned your purchases, it’s time to bargain hunt. Be on the lookout for sales and promotions, but keep in mind that sometimes you need to be patient to take advantage of the best discounts. If the item you’ve set your sights on is unlikely to drop in price, see if your local retailers can suggest solutions. For example, you may be able to get a deal on display models or pieces that have slight imperfections.
3. Think long-term
Make smart investments by choosing styles that have a timeless look and don’t merely reflect the current fad. If you want to indulge in a few trendy pieces, opt for inexpensive items that you can sell or donate in a few years.
Finally, consider making an effort to buy locally. You don’t have to go far to find talented furniture makers and well-curated furniture stores.
4 factors to consider when selecting flooring
When it comes to flooring, homeowners have a range of options. Popular choices include hardwood, vinyl, terrazzo, laminate, ceramic, cork, natural stone, and bamboo. Here are four factors to consider if you need to update your floors.
Do you have kids or pets? Do you like to exercise in a particular part of the house? Opt for flooring that’s practical and suits your lifestyle. For instance, while blonde hardwood and white marble floors are stylish, they may not be the best choice if you have a cat or dog with dark fur. Additionally, you may want to avoid flooring that’s excessively hard in rooms where you spend a lot of time on your feet.
Flooring is an integral part of your home’s appearance, so make sure you choose a type that contributes to the style you want to create. For example, natural stone generally provides a Zen-like ambiance, whereas blonde hardwood will add warmth to space. If you want a retro vibe, consider pastel terrazzo. For a more sophisticated look, opt for dark laminate flooring.
When you visit your local stores and suppliers, make sure to compare different flooring samples and seek advice from a qualified salesperson. It’s a good idea to bring along photos of the rooms you’re renovating.
3. Installation requirements
Before you install new flooring, you may need to update the subfloor. This could be the case if you have heavy flooring that requires extra support. It will also be necessary if you choose to install electrical wiring, plumbing, or radiant heating on the subfloor. A qualified professional is always the best person to install new flooring.
Some types of floors require maintenance that goes beyond simply sweeping and mopping. For example, you need to periodically apply a sealant to porous flooring such as unglazed tile, limestone, and concrete. In the case of hardwood, you need to sand and varnish it every so often. Before you settle on a particular type of flooring, make sure you know what sort of upkeep it requires.
Keep in mind there are professionals who can provide expert advice. Contractors, interior designers, and the staff at your local home improvement and furniture stores will be able to recommend specific solutions for your home.
Making an offer: should you bid above, below or at list price?
Are you ready to make an offer on a home? Depending on the condition of the property, the local market, and your level of interest, your realtor may recommend that you bid above, below, or at list price. Here are some circumstances in which each of these approaches would likely be advised.
Making an offer that’s below the listed price might make sense if:
• The home requires major renovations
• It’s a buyer’s market and many comparable properties are available
• The seller needs to make the sale quickly
It’s a good idea to offer the listed price in the following circumstances:
• You love the property
• No major repairs are needed
• It meets all of your needs
In a competitive housing market, it may be reasonable to offer above the listed price if the property is:
• Your dream home
• In a desirable area
• Move-in ready
The best way to ensure you make the right offer on a property is to work closely with a real estate agent who understands both the local housing market and your priorities as a buyer.