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What Does 2021 Have in Store for Home Values?

 

According to the latest CoreLogic Home Price Insights Report, nationwide home values increased by 8.2% over the last twelve months. The dramatic rise was brought about as the inventory of homes for sale reached historic lows at the same time buyer demand was buoyed by record-low mortgage rates. As CoreLogic explained:

“Home price growth remained consistently elevated throughout 2020. Home sales for the year are expected to register above 2019 levels. Meanwhile, the availability of for-sale homes has dwindled as demand increased and coronavirus (COVID-19) outbreaks continued across the country, which delayed some sellers from putting their homes on the market.

While the pandemic left many in positions of financial insecurity, those who maintained employment and income stability are also incentivized to buy given the record-low mortgage rates available; this is increasing buyer demand while for-sale inventory is in short supply.”

Where will home values go in 2021?

Home price appreciation in 2021 will continue to be determined by this imbalance of supply and demand. If supply remains low and demand is high, prices will continue to increase.

Housing Supply

According to the National Association of Realtors (NAR), the current number of single-family homes for sale is 1,080,000. At the same time last year, that number stood at 1,450,000. We are entering 2021 with approximately 370,000 fewer homes for sale than there were one year ago.

However, there is some speculation that the inventory crush will ease somewhat as we move through the new year for two reasons:

1. As the health crisis eases, more homeowners will be comfortable putting their houses on the market.

2. Some households impacted financially by the pandemic will be forced to sell.

Housing Demand

Low mortgage rates have driven buyer demand over the last twelve months. According to Freddie Mac, rates stood at 3.72% at the beginning of 2020. Today, we’re starting 2021 with rates one full percentage point lower than that. Low rates create a great opportunity for homebuyers, which is one reason why demand is expected to remain high throughout the new year.

Taking into consideration these projections on housing supply and demand, real estate analysts forecast homes will continue to appreciate in 2021, but that appreciation may be at a steadier pace than last year. Here are their forecasts:What Does 2021 Have in Store for Home Values? | MyKCM

Bottom Line

There’s still a very limited number of homes for sale for the great number of purchasers looking to buy them. As a result, the concept of “supply and demand” mandates that home values in the country will continue to appreciate.

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The Holidays Aren’t Stopping Homebuyers This Year

The Holidays Aren’t Stopping Homebuyers This Year | MyKCM

Black Friday and Cyber Monday are behind us, yet finding the perfect holiday gifts for friends and family is certainly still top of mind for many right now. This year, there’s another type of buyer that’s very active this holiday season – the homebuyer.

Each month, ShowingTime releases their Showing Index which tracks the average number of appointments received on active U.S. house listings. The most recent index notes:

“The Showing Index reported a 60.9 percent jump in nationwide showing traffic year over year in October, the sixth consecutive month to see an increase over last year.”

Here’s the breakdown of the latest activity by region of the country compared to this time last year:

  • The Northeast increased by 65.5%
  • The West increased by 64.7%
  • The Midwest increased by 55.7%
  • The South increased by 54.7%

Why is the traffic so active?

The health crisis definitely put homebuying plans on pause for many earlier this year. Buyers, however, are in the market and making moves well past the typical busy homebuying seasons of spring and summer.

One of the main reasons buyer traffic has continued to soar in the second half of 2020 is how dramatically mortgage rates have fallen. According to Freddie Mac, the average mortgage rate last December was 3.72%. Today, the rate is a full percentage point lower.

Bottom Line

There are first-time, move-up, and move-down buyers actively looking for the home of their dreams this winter. If you’re thinking of selling your house in 2021, you don’t need to wait until the spring to do it. Your potential buyer is very likely searching for a home in your neighborhood right now.

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Buyer’s Market vs. Seller’s Market

buyers market

Most people have heard the real estate terms “buyer’s market” and “seller’s market.” But what do these mean, and how do they affect your ability to sell or buy a home? Read on to learn how supply and demand influence home prices.

What is a Buyer’s Market?

With a buyer’s market, the supply of available homes for sale outnumbers the amount of motivated buyers who are interested in purchasing a home. Because they have so many options, buyers can afford to be pickier. This forces sellers to be more reasonable with their pricing.

If you’re searching for a new home, a buyer’s market is the best time to make a move. In many instances, you will be able to get a home for a lower cost than you would if you were shopping during a seller’s market.

On the other hand, if you are hoping to sell a home, you will have a harder time during a buyer’s market. Not only will you have to price your home to compete with other available inventory; your home may take longer to sell. If your home stays on the market for a while, you may also have to lower your asking price or make certain concessions to secure a buyer.

What is a Seller’s Market?

With a seller’s market, the supply of available homes for sale is less than the number of motivated buyers who are interested in purchasing a home. Because they have fewer options and increased competition, buyers cannot afford to be as picky. This allows sellers to raise their asking prices.

sellers marketWhenever demand exceeds supply, multiple buyers often become interested in a single home, resulting in bidding wars. If you’re planning to sell your home, a seller’s market is the best time to make a move. In most instances, you will be able to secure your asking price; you may also be able to get a higher offer if there are multiple interested buyers.

If you’re trying to buy a home in a seller’s market, the seller will have the advantage. If there are other buyers interested in the same home you’re making an offer on, you will find it very difficult, if not impossible, to haggle for a better price. In fact, you might even lose the opportunity to buy the property if a competing buyer swoops in with a higher offer.

Seller’s markets are also commonly referred to as “renter’s markets” because potential buyers often need to keep renting until they can either accumulate a higher down payment to help compete with other buyers or wait for market conditions to change.

How Do You Determine the State of the Market?

There are a number of different factors that determine real estate market conditions, both nationally and locally. If an area has a booming economy with a lot of great employment opportunities, more people are going to want to live there, and limited housing opportunities will create a seller’s market. The same works in reverse.

Shifting mortgage rates can also drive buyer demand since they help determine loan affordability. At the same time, the supply of local housing is constantly in a state of flux. Home inventory can increase when people move elsewhere, whether they’re downsizing or moving into a larger home for an expanding family. Similarly, inventory can increase with new home construction.

On the other hand, housing inventory can decrease due to natural disasters such as earthquakes, fires and floods. Limited land availability can also lead to plot shortages that limit new home construction and make existing properties more valuable.

The real estate market can also go up and down based on the season. There are typically more homes for sale in the summer. This means you could have a seller’s market during the winter and a buyer’s market when the weather warms up.

With all this in mind, it can be difficult for ordinary buyers and sellers to assess current market conditions. One way to determine if it’s a seller’s or buyer’s market is to analyze available inventory. If inventory is low, it is most likely (though not always) a seller’s market. If inventory is high, it is most likely (though not always) a buyer’s market.

With so much to consider, however, it’s generally best to seek counsel from a reputable real estate agent to help you get a clear understanding of existing market conditions.

With 60-plus years of combined experience, The Wheaton Team specializes in residential real estate throughout Colorado Springs and all of El Paso County. Let us guide you through each step of the buying and selling process, so you can achieve your real estate goals. Contact us today to get started.

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Improving Your Home Value With Solar

solar panels increase home value

We all know that solar panels are good for the environment. But do they increase the value of your home? Research indicates that even a moderately sized solar array can boost home value. Whether that added value will cover the cost of installation, however, is another question. Read on to learn if you can improve your home’s value by adding solar panels.

How Much Value Can it Add?

According to a report from the federal government, solar energy systems typically improve the value of most homes. In most instances, solar panels are viewed as upgrades, and buyers are willing to pay a premium of approximately $15,000 more for a property with an average-sized solar array. Homes with solar panels also tend to sell faster than homes with no solar features.

With all of this said, the actual value of solar can vary based on the location of your home. In California, for instance, research has shown that buyers are willing to pay nearly $6,000 per watt of installed solar capacity. This isn’t the case everywhere, however.

After analyzing sales of solar-equipped properties in eight different states over a decade, one relatively recent report found that homebuyers are consistently willing to pay about $4 per watt of installed solar capacity. For a 6-kilowatt solar PV system, this means that solar could add $24,000 to a home’s resale value.

Whatever the case, it’s clear that solar can boost a home’s value. But is it enough to justify the expense?

Will it Cover the Installation Costs?

A solar home’s selling price is usually about 3% to 4% higher or more compared to properties without solar. The price of a typical rooftop solar installation and battery is also generally recouped in the property’s sale price. What’s more, households purchasing solar are usually rewarded with lower energy bills and, in many cases, healthy tax incentives that can help cover all or a large portion of the system’s costs over the life of its warranty.

This can create a valuable selling point for buyers and help differentiate properties from similar inventory on the local market.

Modern Buyers Want Energy-Efficiency

These days, people strongly consider monthly electric bills when buying a home. When assessing a property’s long-term financial value, they’re increasingly open to paying more for a solar-ready property.

solar panel installationIn addition to increasing home values over comparable non-solar properties in the area, solar systems provide other financial benefits including:

  • Federal solar investment tax credits (ITCs)
  • State rebates and other incentives such as net metering
  • Replacing standard grid electricity with a potentially cheaper and sustainable option

When it comes time to sell a solar property, homeowners enjoy several benefits, including:

  • Solar homes often sell faster.
  • Buyers view solar panels as upgrades.
  • Sellers usually get a full return on solar investment.
  • Sellers can set higher asking prices than similar properties without solar.

Homeowners with a solar energy system should note that buyers usually want documentation showing that the solar installation was done properly by a reputable dealer. They also typically want documented proof that the solar system is reducing electric bills.

When deciding whether to install solar features, homeowners should know that the overall value of the upgrades go up over time as solar energy becomes more accepted in a city and region. Since Colorado Springs is just beginning to embrace solar, homeowners should expect values to increase over time. This makes investing in solar a wise decision for homeowners who plan to live in their homes for a few more years before selling. At the same time, solar can still be a good way to pique buyer interest and differentiate your property in the current marketplace. At minimum, you should be able to get an equal return on your investment, and you might end up making a profit overall.

With six decades of combined industry experience, The Wheaton Team provides invaluable guidance and expert advice for clients. Specializing in residential real estate throughout Colorado Springs and the Tri-Lakes area, our team can guide you through the complicated buying, selling and financing process, so you can achieve your real estate goals. Contact us today to learn more.

To learn more about solar panels, read our blog on the pros and cons of solar.

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Three Ways Low Inventory Is a Win for Sellers

Three Ways Low Inventory Is a Win for Sellers

 

The number of houses for sale today is significantly lower than the high buyer activity in the current housing market. According to Lawrence Yun, Chief Economist for the National Association of Realtors (NAR):

“There is no shortage of hopeful, potential buyers, but inventory is historically low.”

When the demand for homes is higher than what’s available for sale, it’s a great time for homeowners to sell their house. Here are three ways low inventory can help you win if you’re ready to make a move this fall.

1. Higher Prices

With so many more buyers in the market than homes available for sale, homebuyers are frequently entering into bidding wars for the houses they want to purchase. This buyer competition drives home prices up. As a seller, this can definitely work to your advantage, potentially netting you more for your house when you close the deal.

2. Greater Return on Your Investment

Rising prices mean homes are also gaining value, which drives an increase in the equity you have in your home. In the latest Homeowner Equity Insights ReportCoreLogic explains:

“In the second quarter of 2020, the average homeowner gained approximately $9,800 in equity.”

This year-over-year growth in equity gives you the ability to put that money toward a down payment on your next home or to keep it as extra savings.

3. Better Terms

When we’re in a sellers’ market like we are today, you’re in the driver’s seat if you sell your house. You have the power to sell on your terms, and buyers are more likely to work with you if it means they can finally move into their dream home.

So, is low housing inventory a big deal?

Yes, especially if you want to sell your house at the perfect time. Today’s market gives sellers immense negotiating power. However, it won’t last forever, especially as more sellers return to the housing market next year. If you’re considering selling your house, the best time to do so is now.

Bottom Line

If you’re interested in taking advantage of the current sellers’ market, let’s connect today to determine your best move in our local market.

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Common Mistakes to Avoid When Home Staging

home staging

Staging is a critical part of the home selling process. Ideally, you want to downplay the property’s weaknesses, highlight its strengths and appeal to the greatest possible pool of potential buyers. Unfortunately, far too many sellers mismanage the staging process. Here are some of the most common staging errors that turn off buyers.

Over-Personalizing

Since taste is subjective, it’s important to avoid putting a personal stamp on your design scheme. You may love that rustic painting or wildly patterned throw pillow, but buyers may not share your opinion. Likewise, while your family photos and collectibles may seem like treasures to you, they will make it harder for prospective buyers to imagine themselves living in the home. When a buyer enters your home, they should see clean lines and a welcoming, neutral home environment. Be sure to depersonalize the property before you schedule a showing.

Going Too Neutral

While it is important to make your home feel clean, airy and relatively neutral; you can go too far. Without at least some color, a home can appear boring, bland and sterile. Some flowers and fruit baskets can help enliven the home. A general rule of thumb is to make sure your furniture is neutral and infuse a bit of color here and there with pillows, rugs and throw blankets. Avoid painting rooms with non-neutral colors, since this can make them feel dark, small and closed-in.

home staging mistakes to avoidNot Making Repairs

Unless they are especially picky, most buyers are willing to accept a few minor imperfections. When they neglect to make important fixes, however, sellers are inviting low-ball offers. While you don’t have to spend money perfecting your home, you should definitely shore up any structural issues and eliminate aesthetic eyesores. Talk to your agent about which types of repairs and improvements are most important and which aren’t necessarily worth the expense.

Making Rooms Seem Like Dungeons

Dark, poorly lit rooms do not pique buyer interest. It’s important for sellers to remove draped tassels, bulky fabrics, heavy or dark-colored window treatments and anything that blocks light. It’s generally best to go with light or translucent curtains that accent windows without blocking too much sunlight. It’s also best to add a light source in any room with fewer than four lights. It’s best to use warm or soft LED white bulbs with at least 800 lumens. You should also be sure all bulbs in your house are the same so rooms have a seamless, cohesive feel.

Not Prioritizing

When it comes to selling a home, not all rooms carry the same weight. Ideally, you want to focus your time and money on rooms that have the greatest potential to influence a buyer’s decision. These include the kitchen, master bedroom and living area. While children’s bedrooms, guest bedrooms and bathrooms also matter, they should generally take a backseat to these other critical areas.

Over-Staging

The best way to prepare your home for sale is to eliminate clutter as much as possible. When professional stagers prep a home for market, they often remove up to half the owner’s furnishings to make the property look bigger. Ideally, you want prospective buyers to be able to move from room to room without having to navigate through chairs, couches and loveseats. You also want to minimize items on the coffee table and avoid piling pillows onto furniture, since all of this can make a home look cluttered, small and unappealing.

Unfortunately, inexperienced stagers tend to have trouble restraining their impulses to do more than they should. They seed the air with artificial scents and air fresheners. They clutter rooms with too many decorations, pillows and chairs. They try to overcompensate for small floor plans by adding furniture to make the home look lived in. These rookie mistakes are so common, it’s often surprising for buyers when they walk into a properly staged home that stands out from similar properties on the market.

It takes experience and expertise to strip away needless clutter while still maintaining a warm, inviting feel. This is why it’s generally best to work with a real estate agent who knows how to professionally stage a home to appeal to a wide array of buyers.

Thinking of selling your home? The Wheaton Team is here to help. With more than six decades of collective experience, our seasoned professionals specialize in residential real estate throughout Colorado Springs and the Tri-Lakes area. Let us guide you through every step of the staging and selling process, so you can close at a price that meets your expectations.

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Two Important Impacts of Home Equity

Two Important Impacts of Home Equity | MyKCM

Equity continues to rise, helping American homeowners secure a much more stable financial future. According to the most recent data from CoreLogic, the average homeowner gained $9,800 in equity over the past year. In addition, experts project 2020 home prices to continue rising. With prices going up, equity gains will also keep accelerating. Black Knight just reported:

“The annual percent change in the overall median existing single-family-home price has skyrocketed in the past several months, with recent numbers at three to five times higher than rates seen in the past several years.”

Jeff Tucker, Senior Economist at Zillow, just qualified recent price increases as “jaw-dropping” and “within a hair’s breadth of double-digit year-over-year appreciation.”

Knowing equity will help enable many homeowners to better survive the economic distress caused by the ongoing pandemic, it’s important to break down two key homeowner benefits of increasing equity.

1. Equity Increases a Homeowner’s Options to Buy a New Home

Aside from the financial damage of the last seven months, there has also been a tremendous emotional toll on many people. Shelter-in-place mandates, quarantine requirements, and virtual schooling have all made us re-evaluate the must-have requirements a home should deliver. Having equity in your current house gives you a better opportunity to move-up or build your perfect home from scratch.

Mark Fleming, Chief Economist at First American, recently explained:

“As homeowners gain equity in their homes, they are more likely to consider using that equity to purchase a larger or more attractive home – the wealth effect of rising equity.”

If you need to make a move, the equity in your current home can help make that possible – right now.

2. Equity Enables Homeowners to Help Future Generations

An increase in home equity grows overall wealth, which can transfer to future generations. The Federal Reserve, in an addendum to their recent Survey of Consumer Finances, explains:

“There are numerous ways families can transmit wealth and resources across generations. Families can directly transfer their wealth to the next generation in the form of a bequest. They can also provide the next generation with inter vivos transfers (gifts), for example, providing down payment support to enable a home purchase or a substantial wedding gift.”

The Federal Reserve also explains another way wealth (including the additional net worth generated by an increase in home equity) can benefit future generations:

“In addition to direct transfers or gifts, families can make investments in their children that indirectly increase their wealth. For example, families can invest in their children’s educational success by paying for college or private schools, which can in turn increase their children’s ability to accumulate wealth.”

Bottom Line

Equity can help a homeowner grow their confidence in a more stable financial future. It provides near-term move-up options and creates a positive impact for future generations. In many cases, the largest single investment a person has is their home. As that investment appreciates in value, financial options increase too.

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7 Tips To Help Sell A Home In The Autumn

selling your home in autumn

While the real estate market tends to slow down as the weather cools, there are still plenty of golden opportunities for sellers. Here are some ways you can pique buyer interest and close at the right price before the winter is upon us.

  1. Hire an experienced agent. During the fall, serious buyers are usually very motivated to buy quickly before the bad weather and busy holiday season set in. Unfortunately, since autumn is an off-peak season, there are fewer buyers than there are during the spring. When selling in a slower market, it’s important to rely on a seasoned real estate agent who knows how to target motivated buyers. When interviewing agents, ask about their experience and have them give you their strategies for selling a home in an off-peak season.
  2. Price your home to sell. During the fall, you need to have a price that will raise eyebrows for all the right reasons. While you shouldn’t expect a multiple-offer situation that will drive up the price, don’t feel compelled to accept low-ball offers. Using your agent’s expertise and neighborhood comparisons, settle on a good listing price that reflects realistic expectations based on the fall versus the spring.
  3. Illuminate your home. When days start getting shorter, the sun will cast broader shadows as it sits lower on the horizon. To give your home a bright, warm feel, it’s important to prioritize lighting. Open the shutters, pull up the blinds and push aside the drapes on each window. Turn on almost every light and consider brightening darker, windowless rooms by placing spotlights on the floor behind furniture.
  4. Tackle major and minor repairs. When the real estate market slows during the fall, buyers enjoy more negotiating power. The last thing you want to do is give them additional leverage or excuses to lower their offer prices. Be sure to address any issues that could be viewed as red flags in an inspection. This includes roof repairs, old water stains or HVAC system problems.
  5. Get your HVAC system inspected. During the fall, it’s very common for buyers to ask a seller to have a home’s furnace cleaned and inspected before closing. Get out in front of this task, so you can show prospective buyers the receipt early on in the process. This will also allow you to handle any unexpected repairs that might be uncovered during an inspection.
  6. Focus on outdoor areas. Modern homeowners want nice outdoor spaces where they can imagine themselves entertaining and enjoying time with family. Just because the weather is cooling off, doesn’t mean you can neglect this important part of your home.

sell home in autumn leavesOne of the greatest mistakes sellers make during the fall is ignoring their exteriors. In addition to framing outdoor living space in optimal light, you want to make sure you clean up your yard. Some of the most important autumn clean-up tasks include:

  • Removing debris and loose sticks
  • Raking up stray leaves
  • Weeding flower beds and removing dead plants
  • Trimming bushes, flowers and shrubs
  • Aerating the lawn and fertilizing grass roots

It’s also very important to clean out your gutters during the fall. This will show buyers that you have taken good care of the property, since clogged gutters can allow water to drain abnormally and damage roofing or compromise the integrity of a home’s foundation.

  1. Perform thorough indoor maintenance. Savvy buyers notice even the smallest details, and certain flaws are more noticeable during the colder seasons.

Before you schedule a showing, be sure to:

  • Insulate around doors and windows since drafts are much more noticeable in the fall.
  • Remove cobwebs, which tend to accumulate during the fall.
  • Address any eyesores; use touched-up paint and new caulking to freshen up bathrooms and the kitchen.
  • Replace air filters to prevent excessive dust and stale smells throughout the house.

Are you thinking about putting your home on the market? The Wheaton Team can help. Our experienced team specializes in residential real estate throughout El Paso County, including the Tri-Lakes area and Colorado Springs. Let us guide you through the complex selling process, so you can get a timely sale at a price that will leave you smiling.

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Is it Time to Move into a Single-Story Home?

Is it Time to Move into a Single-Story Home?

Is it Time to Move into a Single-Story Home? | MyKCM

Once the kids have left the nest, you may be wondering what to do with all of the extra space in your home. Chances are, you don’t need four bedrooms anymore, and it may be a great time to sell your house and downsize, maybe even into a single-story home. You’ve likely gained significant equity if you’ve lived in your home for a while, so making a move while demand for your current house is high could be your best step forward toward the retirement goals you set out to achieve several years ago.

The dilemma, though, is where to go next. A big concern for many homeowners who are ready to sell is finding a home to move into, given today’s lack of houses available for sale. There is, however, some good news: the number of single-family 1-story homes being built today is on the rise, improving your odds of finding the right home for your changing needs. In a recent article, The National Association of Home Builders (NAHB) explains:

“Nationwide, the share of new homes with two or more stories fell from 53% in 2018 to 52% in 2019, while the share of new homes with one story grew from 47% to 48%.”

Here’s a map showing the breakdown of newly constructed homes being built by region, and the percentage of 1-story and 2-story homes in that mix:Is it Time to Move into a Single-Story Home? | MyKCM

What are the benefits of buying a one-story home?

Still not sure about buying a single-story home? An article from Home Talk covers several advantages of switching from two floors to one:

1. Energy Efficient

“It is easier to heat and cool a single-story house [than] it would be to regulate the temperatures of a multi-story house.”

Most single-story homes only need one heating or cooling unit, and they typically stay cooler than a two-story home, both of which can lead to significant savings.

2. Easier to Maintain

“Doing a general cleaning in a single story requires less effort and you will be able to see all areas that need cleaning and the areas are easily accessible.”

Cleaning and maintenance of a single-story home can take less time and effort, and better upkeep helps improve the overall value of the home.

3. Accessible for Everyone

“A single-story house can be accessed by anyone, whether they are young children or the senior citizens.”

If you’re looking for a house that provides a safe and easily accessible environment at any age, a single-story home may be optimal.

4. Good Resell Potential

“When buying a single-story house, you should consider the resale value should you think of reselling it in case of a circumstance that can happen. Look at the growth rate of that area. Due to the high demand of these types of houses it is [easy] to resell them and depending on the growth rate of an area, it increases in value significantly.”

Single-story homes have a lot of benefits and are often in higher demand. This bodes well for future resale opportunities.

Bottom Line

There are many benefits to downsizing into a one-story home. Doing so while demand for your current house is high might make it easier than ever to make a move. Let’s connect if you’re ready to purchase the single-story home you need while homes are so affordable today.

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Why Pricing Your House Right Is Essential

Why Pricing Your House Right Is Essential

Why Pricing Your House Right Is Essential | MyKCM

In today’s real estate market, setting the right price for your house is one of the most valuable things you can do.

According to the U.S. Economic Outlook by the National Association of Realtors (NAR), existing home prices nationwide are forecasted to increase 4.7% in 2020 and 4.1% in 2021. This means experts anticipate home values will continue climbing into next year. Today, low inventory is largely keeping prices from depreciating. Danielle Hale, Chief Economist at realtor.comnotes:

“Looking at the sheer number of buyers, low mortgage rates, and limited sellers, the strength of home prices–which are now growing at the highest pace since January 2018–makes sense.”

When it comes to pricing your home, the goal is to increase visibility and drive more buyers your way. Instead of trying to win the negotiation with one buyer, you should price your house so that demand is maximized and more buyers want to take a look.

How to Price Your Home

As a seller, you might be thinking about pricing your house on the high end while so many of today’s buyers are searching harder than ever just to find a home to purchase. You’re thinking, higher price, greater profit, right? But here’s the thing – a high price tag does not mean you’re going to cash in big on the sale. It’s actually more likely to deter buyers and have them looking at the houses your neighbors are selling instead.

Even today, when the advantage tips toward sellers because there are so few houses for sale, your house is more likely to sit on the market longer or require a price drop that can send buyers running in the other direction if it isn’t priced just right.Why Pricing Your House Right Is Essential | MyKCM

A Trusted Real Estate Professional Will Help

It’s important to make sure your house is priced correctly by working in partnership with a trusted real estate professional. When you price it competitively, you won’t be negotiating with one buyer over the price. Instead, you’ll have multiple buyers competing for the home, and that’s what ultimately increases the final sale price.

The key is making sure your house is priced to sell immediately. That way, it will be seen by the most buyers. More than one of them may be interested, and your house will be more likely to sell at a competitive price.

Bottom Line

If you’re thinking about listing your house this fall, let’s discuss how to price it right so you can maximize your exposure and your return.