March Madness – Is it Time to Put Your Home on the Market?
College basketball may be dominating the airwaves in March, but it’s also a great time for you to consider dominating the idea of putting your home on the market this spring.
Ask any realtor and they will tell you the warmer months are when people come out to buy, homes attract higher asking prices and you have a greater chance to sell quickly just as the summer home selling rush begins.
Timing is money and finding that perfect time to list is crucial in selling your home. List too early and not enough buyers may be available or you may fetch lower offers. List too late and you could miss out on the home buying frenzy that ramps up in the spring and summer months.
Putting your home on the market in spring hits a real sweet spot in the real estate market. With mortgage rates still at historical lows, potential homebuyers are motivated and are just starting to look at the market again, many with a fresh tax refund as additional down payment funds. Plus, they have likely been watching the lack of new listings coming to market but now that spring is ramping up and your home is available, it’s like a breath of fresh air.
Recent data from online real estate database Zillow indicates that homes listed in late-March tend to sell more rapidly and for the most money. Knowing this, work with your realtor to establish a realistic timeline to get your home priced right and sold quickly!
3 Tips to Sell Your Home
Price it right.
There are many pricing strategies that your realtor can use when selling your home. Work with them to find the right price based on your home’s location and other comparable (comps) homes coming to market or currently on the market. A good rule of thumb when pricing is that you don’t want to be the highest priced home in your neighborhood…shoot for the second or third; you may just attract more buyers.
Check out the competition.
If there are other homes for sale in your neighborhood go check them out during open houses. It never hurts to get a good look at the competition. You may discover you need to stage your home better by getting rid of clutter or making some upgrades in the kitchen and bathrooms. Knowing the condition and presentation of homes you are competing with will help you prepare your home to show.
Curb appeal. Either you got it, or you don’t.
First impressions are everything! Sprucing up a few details on or around your home can be the difference in getting your home sold quickly or receiving a higher offer. When my wife and I sold our Beaverton home last summer we did something smart that saved us a lot of time and money. We made a list of all the things we wanted to do to the house…it was a LONG list! Then we prioritized them by what we felt would help the house sell, these included some “curb appeal” items. It is amazing how just a few items (most inexpensive) can really spruce up your home and set it apart from others for sale in your neighborhood. We’re talking about things such as: new house paint, washing the windows, planting a few new flowers, painting your front door so it “pops”, staining your deck and fence, pressure washing your driveway, and more. All little things that can make a HUGE impact!
For more curb appeal ideas, check out these 12 Upkeep Ideas to Add Curb Appeal to your home from one of my favorite websites This Old House.
Got a great story about getting your home ready to sell or care to share some of your curb appeal ideas? Please leave a comment below!
Posted by: Ryan Jones
About the author: Ryan has been in the credit union industry for 12 years and has been with Unitus Community Credit Union since 2007. He started his credit union career in Sacramento, CA before finding his way to Oregon. In his day job Ryan manages Unitus’ digital presence and social media, however when the work whistle blows he is all about his family. He and his wife moved to Oregon in 2006 and have two children…and three cats.