It’s that time of year again…when the busy holiday season is upon us. Starting with Halloween, Thanksgiving seems to creep up on us quickly followed by Christmas and New Years.
– TRICKS –
Tricks to get your home sold faster !
1. Online marketing. 92% of homebuyers start their house hunt online, and they will never even get in the car to come see your home if the online listings aren’t compelling. In real estate, compelling means pictures! A study by Trulia.com shows that listings with more than 6 pictures are twice as likely to be viewed by buyers as listings that had fewer than 6 pictures.
2. Social Media. Facebook is the great connector of people these days. If you have 200 friends and they each have 200 friends, imagine the power of that network in getting the word out about your house!
3. Beat the competition with condition. In many markets, much of the competition is low-priced foreclosures and short sales. As an individual homeowner, the way you can compete is on condition. Consider having a termite inspection in advance of listing your home, and get as many of the repairs done as you can – it’s a major selling point to be able to advertise a very low or non-existent pest repair bill. Also, make sure that the little nicks and scratches, doorknobs that don’t work, and wonky handles are all repaired before you start showing your home.
4. Access is essential. Homes that don’t get shown don’t get sold. And many foreclosures and short sale listings are vacant, so they can be shown anytime. Don’t make it difficult for agents to get their clients into your home – if they have to make appointments way in advance, or can only show it during a very restrictive time frame, they will likely just cross your place off the list and go show the places that are easy to get into.
5. Get real about pricing. Today’s buyers are very educated about the comparable sales in the area, which heavily influence the fair market value of your home. And they also know that they’re in the driver’s seat. To make your home competitive, have your broker or agent get you the sales prices of the three most similar homes that have sold in your area in the last month or so, then try to go 10-15% below that when you set your home’s list price. The homes that look like a great deal are the ones that get the most visits from buyers and, on occasion even receive multiple offers. (Bidding wars do still exist!)
6. De-personalize & De-clutter. Do this – pretend you’re moving out. Buyers want to visualize your house being their house – and it’s difficult for them to do that with all your personal items marking the territory as yours.Keep the faux-moving in motion. Anything that you haven’t used in at least a year? get rid of it. Give away what you can, throw away as much as possible of what remains, and then pack the rest to get it ready to move.
– TREATS –
Why selling your home during the Holidays is a Treat!
Less Competition Many home sellers either hold off from selling or take a break from selling during the holidays. Inevitably, the amount of listings on the market drop down, which means less competition for your home. With less competition, you could potentially sell your home faster, for more money. Once the market comes back up in the spring time, a lot of sellers will list their homes all at once for lower prices, which may drive the whole market down.
More Motivated. Home buyers are generally the most motivated during the holiday season, greatly aiding sellers. Although there will be less buyers looking at homes this time of year, the buyers who do look are more serious about closing. “While the traffic is down, the buyers who are out there — when it’s soggy and dark at 4:45 p.m. — they’re not just poking around for the fun of it,” said Billy Grippo, a broker for Windermere Cronin and Caplan Realty Group. “They’re wanting to buy a house.”
Interest Rates Drop. Looking back on statistics, interest rates tend to drop the most at the end of the year. “If we look historically at interest rates, cyclically we’ve seen drops every December through January,” says Rich Hayden, senior loan officer for Home First Mortgage Corp. “While rates are now at all-time lows, we could dip even lower,” he says. Tyler agrees, “Interest rates have to come up sometime but it won’t be during the holidays.”
Tax Deductions. Many people purposely choose to purchase a home before the new year to receive a tax write off. Home buyers who close before the end of the year could be eligible for tax credits, such as deductions for home mortgage interest, real estate taxes, and PMI premiums.