If the time has come to sell your Spring, Texas home, you may be wondering how you can make the process easier, especially in what you may have heard is a down market. Real estate agents are talking about a down market caused by many factors including increased mortgage interest rates, and higher costs for goods and services making some buyers put the brakes on their plans to make more purchases — especially a major one like a home. Before you start working with a Spring, Texas real estate agent to work on selling your home, you can be aware of some strategies that can give you an advantage.
Time your sale
Unless you need to sell your home immediately because of circumstances like a move for work, or to be closer to family, it may be wise to wait, instead of selling your home during a down market. During a down market, you may not get as much for your home as you would during other real estate conditions (such as a sellers’ market). There are also times of year that are generally considered to be better to sell a home than others — such as the spring. Talk with your real estate agent to make sure that you are timing your home sale to get the most value from it.
Study the competition
When you are selling your home, your success will depend not only on how your home is priced and marketed to buyers, but also how it compares to other homes on the market. Real estate agents will prepare what’s known as a Comparative Market Analysis (Comps) to help determine the best price for your home. With this research, you’ll have a full picture of homes that are similar to yours to help prevent over- or under-pricing.
Know your home’s value
Aside from comps, knowing your home’s value will help price it. Inspections and appraisals can determine how much your home is worth and also reveal any repairs or updates that may need to happen before putting your home on the market. Generally, it’s wise to have the inspection first, make any necessary repairs, and then have the appraisal. Keeping records of everything can be helpful to give buyers more information about your home.
When you are selling your Spring, Texas home, it can be tempting to try and cut corners by taking care of tasks yourself. While you may be able to take photos that seem good enough, or paint the inside of your home, you get what you pay for. Even though paying for professional photos will cost you, you can recoup the costs when you bring in more potential buyers for your home. And if the outside of your home needs a paint job, you definitely want to bring in the professionals. A Spring, Texas real estate agent is another person to add to your home-selling team.
A down market may not be an ideal situation, but you can still get ahead in your home sale by following strategies that make your home shine. Working with a real estate agent and doing your homework in advance will keep you informed during the process.