Thinking of putting your home on the market? I’ll let you know what to do, the best time to do it, and how to make sure your home sells quickly.
Is this a good time to put your home on the market?
The BEST time to put your home on the market is in Spring, however NOW is a great time as well. The worst times to have your home on the market is during the holidays. As a general rule, think Thanksgiving to Valentine’s Day. People are with their families, traveling and not in the mood to pick up everything and move. This is not to say that you CAN’T sell your home during these times….it’s just not ideal. If you can put your home on the market quickly and get it sold before Thanksgiving, that would be great. But you don’t want your home to sit on the market for longer than 30 days.
Why is it bad for your home to stay on the market for longer than 30 days?
When a home sits on the market, it becomes “stale”….both figuratively and literally. If you are not living in the home, after thirty days your home will feel (and smell) a little stale. If you are living in the home, the market thinks your home is stale. There are a lot of disadvantages to having your home on the market for a while:
- It will not be on the top of everyone’s searches anymore. Websites like Zillow, Redfin and Realtor.com will give you the newest properties. If you home is on the market for a while, buyers will really need to dig deep to see your property.
- Buyers think that they can “low ball” you. If they see that no one else wants this house, they will assume that it is undesirable and therefore not worth what you have it on the market for.
What can we do to make sure that it sells quickly?
Work with a Realtor to make sure you are pricing it right. You do not want to list your home at a ridiculous price, thinking that you will have to bring the price down anyway during negotiations. Price it to sell. A good Realtor will give you “comps” (comparisons) in your specific area (even neighborhood).
Make sure your home is clean and does not have an odor. This might be hard to recognize yourself because you are accustomed to how your house smells.Believe your realtor if they say your house has a weird smell. Make sure it’s clean, pet items are clean and tidy, and you may want to add candles or aroma sticks around the house. You need to go light on the scent, however, to make sure not to turn buyers off.
DE-PERSONALIZE & DE-CLUTTER
Remove personal items and clutter. I’ve talked about this before in regards to selling your home. A buyer needs to picture themselves living there. Remove photos, religious items and political items. Like at a party – you never want to discuss religion and politics…same thing here! If you are a hunter and like to display your guns, deer heads and other items, you will turn people off. You are not here to make friends – you are here to sell your home so take your personality OUT of the house.
Stage your home if possible. You can work with a stager or agent in your area, but just try to make the space inviting for the most number of buyers.
Do NOT turn down showings. If you have kids or animals and cannot show your home to every Tom, Dick and Harry when they want to, then group showings together, such as “we will have showings Tuesdays and Thursdays from 4 – 6pm”.
LEAVE DURING SHOWINGS
Do NOT stay in the home during a showing or an open house.Take the pets and get out. If you cannot take the pets, designate a space for them that is closed. Put a picture on the door of that area. For instance, we could take the dogs out of the house for showings, but the cats were a little more difficult. We locked the master closet, put the cats in there and put a picture on the door of what the closet looks like.
I’ve heard that it is a “seller’s market”. What is that and is that still true?
A seller’s market is when you have a small inventory of homes on the market, and you will have buyers competing for the same property. Orly and I looked for a house for her for about a year, and we were outbid on about 15 homes. Competition like that is horrible for a buyer and will drive prices up. We are starting to see a change in that. Houses are sitting on the market for longer, sellers are dropping prices, and the market is starting to change.
Will we have a Real Estate crash?
Ebb and flows are normal in a market, and are seen more prevalent in the big cities across the US. The big cities where prices are the highest will have the biggest hit. We are due for a crash based on history. A normal ebb and flow for real estate is typically about 10 years. We saw the biggest crash in recent history in 2008. This lasted until 2012. Home prices were at their highest in 2006, started to decline in 2007 and started to crash in 2008. Will it happen? Hard to say but if you are thinking of selling your home, NOW IS THE TIME!