Selling

Spring into Action: Boost Your Home’s Curb Appeal with Expert Guidance

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To sell your home this spring, it may need more preparation than it would have a year or two ago. Today’s housing market has a different feel. There are more homes for sale than there were at this time last year, but inventory is still historically low. So, if a house has been sitting on the market for a while, that’s a sign it may not be hitting the mark for potential buyers. But here’s the thing. Right now, homes that are updated and priced at market value are still selling fast.

Today, homes with curb appeal that are presented well are still selling quickly, and sometimes over asking price. According to Danielle Hale, Chief Economist at realtor.com:

“In a market where costs are still high and buyers can be a little choosier, it makes sense they’re going to really zero in on the homes that are the most appealing.”

With the spring buying season just around the corner, now’s the time to start getting your house ready to sell. And the best way to determine where to spend your time and money is to work with a trusted real estate agent who can help you understand which improvements are most valuable in your local market.

Curb Appeal Wins

One way to prioritize updates that could bring a good return on your investment is to find smaller projects you can do yourself. Little updates that boost your curb appeal usually work well. Investopedia puts it this way:

“Curb-appeal projects make the property look good as soon as prospective buyers arrive. While these projects may not add a considerable amount of monetary value, they will help your home sell faster—and you can do a lot of the work yourself to save money and time.”

Small cosmetic updates, like refreshing some paint and power washing the exterior of your home, create a great first impression for buyers and help it stand out. Work with a real estate professional to find the low-cost projects you can tackle around your house that will appeal to buyers in your area.

Not All Updates Are Created Equal

When deciding what you need to do to your house before selling it, remember you’re making these repairs and updates for someone else. Prioritize projects that will help you sell faster or for more money over things that appeal to you as a homeowner.

The 2022 Remodeling Impact Report from the National Association of Realtors (NAR) highlights popular home improvements and what sort of return they bring for the investment (see graph below):

Remember to lean on your trusted real estate advisor for the best advice on the updates you should invest in. They’ll know what local buyers are looking for and have the latest insights of what your house needs to sell quickly this spring.

Bottom Line

As we approach the spring season, now’s the time to get your house ready to sell. Let’s connect today so you can find out which updates make the most sense.

Bottom Line

As we approach the spring season, now’s the time to get your house ready to sell. Let’s connect today so you can find out which updates make the most sense.

3 Best Practices for Selling Your House This Year

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A new year brings with it the opportunity for new experiences. If that resonates with you because you’re considering making a move, you’re likely juggling a mix of excitement over your next home and a sense of attachment to your current one.

A great way to ease some of those emotions and ensure you’re feeling confident in your decision is to keep these three best practices in mind.

1. Price Your Home Right

The housing market shifted in 2022 as mortgage rates rose, buyer demand eased, and the number of homes for sale grew. As a seller, you’ll want to recognize things are different now and price your house appropriately based on where the market is today. Greg McBride, Chief Financial Analyst at Bankrate, explains:

“Price your home realistically. This isn’t the housing market of April or May, so buyer traffic will be substantially slower, but appropriately priced homes are still selling quickly.”

If you price your house too high, you run the risk of deterring buyers. And if you go too low, you’re leaving money on the table. An experienced real estate agent can help determine what your ideal asking price should be.

2. Keep Your Emotions in Check

Today, homeowners are living in their houses longer. According to the National Association of Realtors (NAR), since 1985, the average time a homeowner has owned their home has increased from 5 to 10 years (see graph below):

3 Best Practices for Selling Your House This Year | MyKCM

This is several years longer than what used to be the historical norm. The side effect, however, is when you stay in one place for so long, you may get even more emotionally attached to your space. If it’s the first home you bought or the house where your loved ones grew up, it very likely means something extra special to you. Every room has memories, and it’s hard to detach from the sentimental value.

For some homeowners, that makes it even harder to negotiate and separate the emotional value of the house from fair market price. That’s why you need a real estate professional to help you with the negotiations along the way.

3. Stage Your Home Properly

While you may love your decor and how you’ve customized your home over the years, not all buyers will feel the same way about your design. That’s why it’s so important to make sure you focus on your home’s first impression so it appeals to as many buyers as possible. As NAR says:

“Staging is the art of preparing a home to appeal to the greatest number of potential buyers in your market. The right arrangements can move you into a higher price-point and help buyers fall in love the moment they walk through the door.”

Buyers want to envision themselves in the space so it truly feels like it could be their own. They need to see themselves inside with their furniture and keepsakes – not your pictures and decorations. A real estate professional can help you with tips to get your house ready to sell.

Bottom Line

If you’re considering selling your house, let’s connect so you have the help you need to navigate through the process while prioritizing these best practices.

* This post first appeared here.

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5 Strategies to Help Sell Your Home in 2023: Tips From A Local Real Estate Professional

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Picture of a house for sale

Are you thinking about selling your home? It’s a big decision, and it’s natural to want all the help you can get. That’s why I’m sharing my best advice and I’ve compiled it into a few key tips. Whether your goal is to attract high offers, sell quickly, or just make the process go smoothly, these strategies will help you get the best possible results.

One of the most effective ways to sell your home fast and get the returns you want is to work with a professional real estate agent. Not only do they have the expertise to help you with tasks like pricing, marketing, and negotiations, but they also often have a network of connections to help you prepare your home for sale. It’s no surprise, then, that only 10% of homes are sold by owner (FSBO), according to the National Association of Realtors® (NAR). In fact, a NAR report found that the median FSBO home sells for $105,000 less than homes sold with the help of an agent.

As the housing market continues to adjust in 2023, it’s important to remember that buyers are no longer as eager to make offers above the listing price, waive contingencies, or get into bidding wars. Instead, top agents are advising motivated sellers to focus on tried-and-true strategies. Here are some tips to help you sell your home successfully:

Work With A High Quality Agent

Did you know that a top agent can help clients sell their homes for up to 10% more than the average real estate agent? When you work with me you’ll get the same hard work, attention to detail, and marketing that my team and I provide to everyone.

Enhance the interior of your home

If you want to show off your home’s value to potential buyers, start by making some improvements to the interior. These are some of the most impactful changes you can make:

Tackle repairs and upgrades: One of the quickest ways to set your home up for a fast sale is to tackle any deferred maintenance and necessary repairs. However, it’s important to do your research and focus on the upgrades that will give you the highest return on investment (ROI) and that are in high demand in your area. To get a sense of current preferences, you can visit open houses in the neighborhood, or you can hire a professional to conduct a pre-listing inspection. This will help you identify any essential repairs that could hold up the sale of your home later on. I also help my clients in their decision making by advising them about what people are looking for and touring their home before they start renovations or improvements.

Deep clean the interior: A thorough cleaning can help you sell your home in several ways. It prevents potential buyers from getting distracted by dirt or clutter, enhances the features of your home that might otherwise go unnoticed, and reassures buyers that there aren’t any other neglected amenities hiding in your home. For older homes in particular, it might be worth hiring a professional cleaning service to make sure every corner is sparkling.

Depersonalize and stage the space: It’s important to remove personal items and clutter from your home to make it easier for buyers to envision themselves living there. You should also consider staging the space to highlight the best features of your home and make it feel more inviting. This might involve rearranging furniture, adding some pops of color with decorative accessories, or bringing in some greenery to add life to the space.

Improve your home’s curb appeal

The first thing buyers see when they pull up to your home is the exterior, so it’s important to make a good impression. Here are some ways to enhance your home’s curb appeal:

Spruce up the landscaping: A well-manicured lawn and nicely trimmed bushes can go a long way in creating a positive first impression. If your landscaping is looking a bit overgrown, consider hiring a professional to tidy it up. You might also want to add some colorful flowers or potted plants to add a splash of color.

Touch up the paint: If your home’s exterior is looking a bit shabby, a fresh coat of paint can make a big difference. Choose a neutral color that will appeal to a wide range of buyers, and be sure to pay attention to details like trim and shutters.

Add some exterior lighting: Exterior lighting can create a warm and welcoming ambiance, and it’s also a practical feature that can help with safety and security. Consider adding some lanterns, sconces, or floodlights to highlight your home’s best features.

Be flexible and open to negotiation

While it’s important to have a clear idea of what you want to get out of the sale of your home, it’s also crucial to be open to negotiation. Buyers may come to the table with requests or counteroffers, and it’s up to you to decide whether or not you’re willing to compromise. It can be helpful to have a real estate agent by your side to advise you on what’s reasonable and what’s not.

Price your home correctly

Pricing your home correctly is essential to attracting buyers and getting the best possible return on your investment. If you price your home too high, it may sit on the market for too long and turn off potential buyers. On the other hand, if you price it too low, you’ll leave money on the table. A real estate agent can help you determine the right price based on market conditions and local demand, as well as the features and condition of your home.

By following these tips, you’ll be well on your way to a successful and profitable home sale. With the right strategy and a little bit of effort, you can achieve your home selling goals.

Contact me today to start a conversation about selling your home and how I can help you all throughout the process.

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Homeowners Still Have Positive Equity Gains over the Past 12 Months

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Homeowners Still Have Positive Equity Gains over the Past 12 Months

If you’re a homeowner, your net worth got a big boost over the past few years thanks to rapidly rising home prices. Here’s how it happened and what it means for you, even as the market moderates.

Equity is the current value of your home minus what you owe on the loan.

Because there was a significant imbalance between the number of homes available for sale and the number of buyers looking to make a purchase over the past few years, home prices appreciated substantially.

And while home price appreciation has moderated this year, and even depreciated slightly in some overheated markets, that doesn’t mean you’ve lost all the equity you gained during the pandemic frenzy.

To prove you still have equity you can use, the latest Homeowner Equity Insights from CoreLogic finds the average homeowner equity has actually grown by $34,300 over the past 12 months.

That’s right, despite the headlines, the average homeowner still gained positive equity over the last year in just about every market. While the gains aren’t as dramatic as they were in the previous quarter due to home price moderation, they’re still significant. And if you’ve been in your home for longer than a year, chances are you have even more equity than you realize.

While that’s the national number, if you want to know what happened over the past year in your area, look at the map below from CoreLogic:

Homeowners Still Have Positive Equity Gains over the Past 12 Months | MyKCM

Why This Is So Important Right Now

While equity helps increase your overall net worth, it can also help you achieve other goals, like buying your next home. When you sell your current house, the equity you’ve built up comes back to you in the sale, and it may be just what you need to cover a large portion – if not all – of the down payment on your next home.

So, if you’ve been holding off on selling because you weren’t sure what the headlines meant for your bottom line, rest assured you’ve still gained equity in recent years, and it can help fuel your move.

Bottom Line

If you’re planning to make a move, the equity you’ve gained over time can make a big impact. To find out just how much equity you have in your current home and how you can use it to fuel your next purchase, let’s connect.

* This post first appeared here.

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Planning to Retire? It Could Be Time To Make a Move.

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Planning to Retire? It Could Be Time To Make a Move.

If you’re thinking about retirement or have already retired this year, you may be planning your next steps. One of your goals could be selling your house and finding a home that more closely fits your needs.

Fortunately, you may be in a better position to make a move than you realize. Here are a few things to think about when making that decision.

Consider How Long You’ve Been in Your Home

From 1985 to 2008, the average length of time homeowners typically stayed in their homes was only six years. But according to the National Association of Realtors (NAR), that number is rising today, meaning many homeowners are living in their houses even longer (see graph below):

Planning to Retire? It Could Be Time To Make a Move. | MyKCM

When you live in a home for a significant period of time, it’s natural for you to experience a number of changes in your life while you’re in that house. As those life changes and milestones happen, your needs may change. And if your current home no longer meets them, you may have better options waiting for you.

Consider the Equity You’ve Gained

Additionally, if you’ve been in your home for more than a few years, you’ve likely built up significant equity that can fuel your next move. That’s because the longer you’ve been in your home, the more likely it’s grown in value due to home price appreciation. Data from the Federal Housing Finance Agency (FHFA) illustrates that point (see graph below):

Planning to Retire? It Could Be Time To Make a Move. | MyKCM

While home price growth varies by state and local area, the national average shows the typical homeowner who’s been in their house for five years saw it increase in value by over 50%. And the average homeowner who’s owned their home for 30 years saw it almost triple in value over that time.

Consider Your Retirement Goals

Whether you’re looking to downsize, relocate to a dream destination, or move so you live closer to loved ones, that equity can help you achieve your homeownership goals. NAR shares that for recent home sellers, the primary reason to move was to be closer to loved ones. Plus, retirement played a large role for those moving greater distances.

Whatever your home goals are, a trusted real estate advisor can work with you to find the best option. They’ll help you sell your current house and guide you as you buy the home that’s right for you and your lifestyle today.

Bottom Line

Retirement can bring about major changes in your life, including what you need from your home. Let’s connect to explore your opportunities in our local market.

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