Two Things Sellers Need To Know This Spring
As we enter into the spring season, many homeowners are considering selling their homes. After a tumultuous year, it's natural to wonder what to expect in the housing market this season. However, real estate experts are optimistic about the opportunities available to sellers. Here are two important things sellers need to know this spring:
Proper Pricing is Key
According to Jeff Tucker, Senior Economist at Zillow, homes that are priced correctly and updated to current market standards are still selling. Tucker stated, "sellers who price and market their home competitively shouldn’t have a problem finding a buyer." In today's market, it's crucial to price your home right because the landscape has changed significantly over the past year. Danielle Hale, Chief Economist at realtor.com, emphasizes that "homesellers will likely need to adjust their price expectations in the market this spring." With a smaller pool of buyers and more competition, sellers must work with real estate experts to determine the best price for their home.
However, sellers with realistic expectations and an experienced real estate agent's guidance are still finding success in the current market. Therefore, pricing your home competitively can increase your chances of attracting potential buyers and successfully selling your home this spring.
Buyers Are Still Active
Despite rising and volatile mortgage rates, there are still many buyers in the market. Lisa Sturtevant, Chief Economist at Bright MLS, explains that for some buyers, higher mortgage rates might make buying a home unaffordable, while others may view it as a hurdle but will still enter the market. As a seller, it's essential to work with a real estate agent who can help connect you with these buyers who are actively searching for a home.
Bottom Line
Overall, there are still opportunities for sellers this spring. Real estate experts suggest that sellers should focus on pricing their homes correctly and work with an experienced agent to connect with potential buyers. So, if you're thinking about selling your home this spring, now may be the time to do so. Let's connect today to discuss your options and create a plan that works for you.
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