What Does 2018 Hold for Home Sellers?
The 2018 home-selling environment is looking quite positive for a number of reasons. Not only are there different ways to sell your home than in the recent past, but residents of Long Island NY could have a much easier time selling a home in 2018 than they faced in 2017.
What are the reasons that the new year is a better one for sellers than for buyers? And, what are some of the unique aspects of the U.S. real estate market that sellers need to know about?
Lower Inventory
Understand that 2018 will witness a much lower new- and available-home inventory than in the past two years. This is very good news for sellers, but it also means that buyers might be a bit reluctant to enter a marketplace where inventory levels are somewhat restricted. The key thing for sellers is to market their homes adequately. If buyers know your residence is available and ready for occupancy, you’ll have a large number of potential offers coming your way.
Finding Qualified Buyers
Even in a so-called “seller’s market,” homeowners need to make sure they’re dealing with qualified potential buyers. Be aware of any potential buyer’s ability to come up with a large enough down payment, and to obtain financing for the purchase. If not, your property could be tied up for weeks only to end up not closing, causing you to miss out on other potentially qualified buyers.
Locate Competent Real Estate Assistance
This is another key for sellers who don’t want to go it alone. It’s always wise, but especially so in 2018, to find realtors who have long experience in selling homes in your region, and who know how to market homes when there might be a large section of the buying public discouraged by low inventories.
Stage and Prep Your Home Properly
More than ever, staging is can make the difference in selling a home. No matter how great you think your home is, potential buyers won’t see that fact unless you know how to stage the residence in its best possible light. Maximize curb appeal and make sure that the home is ready for a walk-through whenever a potential buyer wants to see it.
Get an Appraisal and Inspection
Many first-time buyers, particularly those who just meet the financial qualification criteria, are often reluctant to pay for an inspection or appraisal themselves. Why not make the process simple by paying for these two essential services yourself. That way, you’ll be in a position to show buyers the documents that might just be enough to convince them to make an offer on the spot.
Consult with an Expert (even if you plan to sell yourself)
There’s no substitute for a 30 or 60-minute consultation with a professional realtor. It won’t cost you an arm and a leg to find out the “inside” story about local selling conditions, average prices, unique challenges and the latest relevant financial situation.
Finally, sellers need to remember that even if they sell their homes without a real estate agent, it is imperative to understand the local market. Long Island NY residents should spend time online learning about nearby sales, average prices for similar homes, and how long the average Long Island NY home has been on the market.