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MAKE YOUR HOME STAND OUT THIS SUMMER

As May comes to a close, school ends and the summer officially begins, that means one important thing – home selling season is upon us. With the kids home from school and vacation time accumulated, both buyers and sellers are ready to enter the market as the weather heats up. As the market begins to grow, you may wonder how to make sure your home stands out among all the others trying to sell during the summer months. Here are a few tips to make sure you can catch the eye of potential buyers during busy season!

1. Tour Other For-Sale Homes

Check out open houses for homes similar to yours that are also on the market. As you are preparing to list, use these tours to see what decor and design-types are attractive to you and potential buyers. If there are things you notice that you do not like, be sure to remove those features from your own home if you have them. Sometimes stepping out of the box (or in this case, your own home) will allow you to look at your home through the lens of a potential buyer.

2. Complete Your Home Inspection Up Front

The home inspection can be a dreaded part of the closing process. Instead of waiting for a buyer, complete your home inspection ahead of time. The goal is to set your home apart from the others on the market, and an easy way to do so is letting those potential buyers know that your home is not just for sale, but it is already inspected. If you repair any issues found by the inspector, you’ll be one step ahead and gives potential buyers peace of mind.

3. Completely Remove Clutter

Decluttering and cleaning is always the first step on the list when you are preparing to list your home, but often we don’t take the clutter ‘removal’ part as seriously. Instead of just moving clutter from a room to a closet, completely remove the clutter from your home. Whether that means donating, storing, or just tossing those items, removing clutter will allow potential buyers to picture themselves in every part of your home, including your closets and garages – rather than just picturing your clutter stashed away there.

4. Curb Appeal Is Key

With spring quickly transitioning to summer, your yard may need a little love. Spring rains and warmth might’ve left your lawn a little overgrown. Take the time to remove weeds, mow your lawn, and add new plant life around the outside of your home. The outside will be the first thing potential buyers see, and you want them to be drawn in by your yard, not turned away by it.

5. Use Refreshments To Your Advantage

Whether you’re a baker or just love buying baked goods, open houses are the perfect opportunity to draw potential buyers in with sweets. With rising temperatures, a thoughtful treat with a glass of lemonade or ice water adds a personal touch to your open house that will, at a minimum, guarantee that potential buyers cross the threshold of your home. Sometimes, getting them in the door is all you need.

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Where Have All the Houses Gone?

In today’s housing market, it seems harder than ever to find a home to buy. Before the health crisis hit us a year ago, there was already a shortage of homes for sale. When many homeowners delayed their plans to sell at the same time that more buyers aimed to take advantage of record-low mortgage rates and purchase a home, housing inventory dropped even further. Experts consider this to be the biggest challenge facing an otherwise hot market while buyers continue to compete for homes. As Danielle Hale, Chief Economist at realtor.comexplains:

“With buyers active in the market and seller participation lagging, homes are selling quickly and the total number available for sale at any point in time continues to drop lower. In January as a whole, the number of for sale homes dropped below 600,000.”

Every month, realtor.com releases new data showing the year-over-year change in inventory of existing homes for sale. As you can see in the map below, nationwide, inventory is 42.6% lower than it was at this time last year:Where Have All the Houses Gone? | MyKCM

Does this mean houses aren’t being put on the market for sale?

Not exactly. While there are fewer existing homes being listed right now, many homes are simply selling faster than they’re being counted as current inventory. The market is that competitive! It’s like when everyone was trying to find toilet paper to buy last spring and it was flying off the shelves faster than it could be stocked in the stores. That’s what’s happening in the housing market: homes are being listed for sale, but not at a rate that can keep up with heavy demand from competitive buyers.

In the same realtor.com report, Hale explains:

Time on the market was 10 days faster than last year meaning that buyers still have to make decisions quickly in order to be successful. Today’s buyers have many tools to help them do that, including the ability to be notified as soon as homes meeting their search criteria hit the market. By tailoring search and notifications to the homes that are a solid match, buyers can act quickly and compete successfully in this faster-paced housing market.”

The Good News for Homeowners

The health crisis has been a major reason why potential sellers have held off this long, but as vaccines become more widely available, homeowners will start making their moves. Ali Wolf, Chief Economist at Zondaconfirms:

“Some people will feel comfortable listing their home during the first half of 2021. Others will want to wait until the vaccines are widely distributed.”

With more homeowners getting ready to sell later this year, putting your house on the market sooner rather than later is the best way to make sure your listing shines brighter than the rest.

When you’re ready to sell your house, you’ll likely want it to sell as quickly as possible, for the best price, and with little to no hassle. If you’re looking for these selling conditions, you’ll find them in today’s market. When demand is high and inventory is low, sellers have the ability to create optimal terms and timelines for the sale, making now an exceptional time to move.

Bottom Line

Today’s housing market is a big win for sellers, but these conditions won’t last forever. If you’re in a position to sell your house now, you may not want to wait for your neighbors to do the same. Let’s connect to discuss how to sell your house safely so you’re able to benefit from today’s high demand and low inventory.