Real Estate
The official start of spring is right around the corner! With temperatures heating up, the real estate market is not far behind. Spring and summer has a history of bringing out buyers who are booking to move between school years. If you are thinking you might sell your house this spring, you can use this information to make sure you get the best experience possible.
What does the spring real estate market mean for the sale of your house?
The spring market is an attractive time of year for both buyers and sellers. Historically, we see both groups coming out to enter the real estate market.
Many sellers start to enter the market as the weather starts to improve. Your house can photograph nicer, more people are willing to come out to view the property and attend open houses, kids are getting ready to finish school and families will have more time together, and buyers start to enter the market! However, you are not the only one who is debating on selling your house this spring. These circumstances are appealing to many people and drive many sellers to start prepping their home for the market.
And as buyers start to enter the market, you could see an increase in the demand for houses just like yours. This could mean that people will be willing to pay above market price for your house to beat out the other buyers that they are competing with.
This is the back and forth of a buyer versus seller market. The increase in the number of sellers entering the market could fuel a buyers market. This could drive prices down. But the increase in buyers could fuel a sellers market, meaning you can make more on your home. Spring holds the potential for either of these markets.
Things to think about if you sell your house this spring
Regardless of how the market turns out, there are a few things to keep in mind if you plan on selling your house in a spring market.
What are your ultimate goals?
Your own priorities are key in the sale of your house, no matter the time of year. If you need the house off your hands as soon as possible, you may not want to list it the traditional way. Sometimes houses spend 90 days on market on average depending on the state of the market. You may need an alternative to placing your house on the market if your need is dire. If not, plan ahead and know there’s a chance you will not be moving out immediately.
You will also want to consider your financial situation. Can you afford to have your property stay on the market for an extended period of time? If you have already purchased another home or are renting, then you may need your house sold fast to recover costs from moving. The market may also not go your way. If you find yourself in a buyers market, you may not get as much as you feel you should. This may be a deal breaker if you have a financial need, and you may be waiting some time.
Pricing in spring can be tricky
Pricing your house properly is a make or break factor in selling your home in the timeframe you desire. There are several different strategies that different real estate agents will utilize to try and get your home to sell. The ultimate goal for you is to sell your house at a price you are happy with.
Underpricing your home
Some agents may recommend you price your house below market value. There are times that this strategy brings in many buyers and creates bidding wars. However, as they draw more buyers to the house, some of those buyers may only be qualified to pay that below market value price. If you don’t bring in higher qualified buyers, you may find yourself selling your house at that undervalued price.
Listing at market value
When priced at market value, you will be getting buyers who are qualified and ready to buy a house like yours. This strategy can give you more peace about getting the money you need from the sale. You are more likely as to get offers near your listed price. Whether or not the market has a demand for a house like yours is a different question entirely.
Flexible pricing
After your home hits the market, you will hopefully start to gain interest. Buyers can be looking at your home in no time. If offers don’t start to roll in, it can be beneficial to decide beforehand to have flexible pricing. This just means that you will keep an open mind about changing the listed price as time goes on.
Which strategy will you choose?
If you are planning on putting your home up for sale on the market, you will need to know which strategy is going to work best for you. Make sure you are watching the market, speaking with a professional, and keeping your end personal goals in mind. The changes in the market may encourage you that now may be the time for you to sell your house. Know that it can change while your home is on the market as well. It is important to keep reevaluating things to continue to ensure you are making the best decisions on the sale of your property. If you are not getting what you need from this transaction, it will be difficult to make your next moves.
There are always options when planning to sell your house
If the uncertainty of the upcoming spring market has you on edge about meeting your personal goals surrounding selling your house, there are always other options out there. Here at ASDM Homes, we help people meet their needs in their real estate transactions. Eric with ASDM Homes has specialized in cash transactions in San Joaquin and Stanislaus for almost 20 years. He is here to help you make your next real estate move fast, fair, and with as few hurdles as possible! Contact us today to start the process and allow Eric to give you a cash offer on your house.
