Of august 2020 sales resulted in a bidding war
&
Of the sold homes were in the market for less than a month
With so few available houses today, competition is heating up among homebuyers. Be ready for a bidding war with these tips!
Tips for Buyers
Get Pre-approved
A mortgage Pre-approval shows that a loan officer has reviewed your finances and determined your ability to get a home loan.
Only 44% of today’s prospective homebuyers plan to apply for pre-approval when beginning their home search. Pre-approval helps you stand out as a qualified buyer.
know what you can afford
Be prepared to cover monthly expenses beyond your mortgage, like general upkeep, utilities, and other unexpected repairs.
Getting serious about your budget now means you’ll have more money f0r a down payment and a clear idea of your maximum offer price.
Make your best offer
On average there were over 3 offers for every home sold in August, if your offer isn’t competitive it probably won’t be considered.
Your real estate agent can help you determine what factors might make your offer more enticing.
Tips for Sellers
Declutter and clean
Declutter your home! Pack away all personal items like pictures, awards, and sentimental belongings. Make buyers feel like they belong in the house. Staging your home will make it easier for a buyer to visualize the property as a future home, and will increase the dollar value offered compared to other similar homes on the market that were not staged.
Since you took the time to declutter, keep it organized. Before buyers arrive, pick up toys, make the bed, and put away clean dishes. The kitchen is one of the most important rooms to stage in order to attract more buyers. Put out a scented candle or some cookies fresh from the oven. Buyers will remember the smell of your home.
Give Buyers Full Access
One of the top four elements when selling your home is access. If your home is available anytime, that opens up more opportunities to find a buyer right away. Some buyers, especially those relocating, don’t have much time available. If they cannot get into the house, they will move on to the next one.
Price it right
More inventory coming into the market guarantees there will be some competition. You want to make sure your home is noticed. A key to selling your house is ensuring it is Priced to Sell Immediately. This means you’ll be driving more traffic to your property, and ultimately creating more interest in your home.