5 Reasons to Sell Your Condo the Spring!
Here are 5 compelling reasons listing your condo for sale this spring makes sense.
1. Demand Is Strong
The latest Buyer Traffic Index from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other for the same home or condo.
Take advantage of the buyer activity currently in the market.
2. There Is Less Competition Now
Housing inventory is still under the 6-month supply needed for a normal housing market. This means that, in most of the country, there are not enough homes for sale to satisfy the number of buyers.
Historically, the average number of years a homeowner stayed in his or her home was six, but that number has hovered between nine and ten years since 2011. Many homeowners have a pent-up desire to move, as they were unable to sell over the last few years due to a negative equity situation. As home values continue to appreciate, more and more homeowners are granted the freedom to move.
Many homeowners were reluctant to list their home over the last couple of years for fear that they would not find a home to move in to. That is all changing now as more homes come to market at the higher end. The choices buyers have will continue to increase. Don’t wait until additional inventory comes to market before you to decide to sell.
3. The Process Will Be Quicker
Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. Buyers know exactly what they can afford before home shopping. This makes the entire selling process much faster and simpler. According to Ellie Mae’s latest Origination Insights Report, the time to close a loan has dropped to 47 days.
4. There Will Never Be a Better Time to Move Up
If your next move will be into a premium or luxury home, now is the time to move up! The inventory of homes for sale at these higher price ranges has created a buyer’s market. This means that if you are planning on selling a starter or trade-up home, it will sell quickly, AND you’ll be able to find a premium home to call your own!
According to CoreLogic, prices are projected to appreciate by 4.6% over the next year. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.
5. It’s Time to Move on With Your Life
Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?
If you’re ready to find out what your condo is worth and what you need to do to get it sold, contact us, the condo specialists at 734-761-3060 or info@condohotline.com today!
Make Buyers Fall in Love with Your Condo with These Easy Staging Tips
Love is in the air! We’re not talking about Valentine’s Day — we mean all of the buyers falling in love with your condo thanks to these easy staging tips. From simple DIY projects to decor and decluttering pointers, these effortless staging tips will wow the next buyers that step through your front door.
Clean, Clean, Clean
The single most important step for staging success? Clean. Break out those rubber gloves and scrub every corner, crack, and crevice that you can find. Not only will a clean condo convey to buyers that you take good care of your space, but it’ll also ensure less work and fewer problems when they move in.
The home-staging cleaning process is more than just regular vacuuming, dusting, mopping, and scrubbing; you’ll need to go the extra mile. We’re talking waxing the floors, deep cleaning the carpets, polishing all of the handles and doorknobs, and more. Make an extensive list, and devote a whole weekend to tidying up.
Tackle Any Unfinished Projects
Do you have a notoriously leaky faucet that you haven’t gotten around to fixing, or a stain on the floor that you’ve been covering with a rug? Now is the time to take care of it.
Take an inventory of any unfinished projects you’ve accumulated. Whether it’s repairing a lighting fixture or patching a hole in the wall, ticking off pending projects is critical in the staging process. The last thing a buyer wants is to inherit problems from a home that they could’ve avoided.
Try Small Scale DIY
You don’t have to completely remodel the kitchen or re-tile the bathroom to make your condo stick out to buyers. There are plenty of simple and affordable DIY projects, from decor improvements to easy upgrades and repairs, that’ll make your place pop!
Need some ideas to kickstart the process? Try putting a fresh coat of paint on the walls, replacing outdated lighting, upgrading cabinet handles and doorknobs, or de-popcorning your ceiling — just a few of the many easy ways to elevate your home’s look.
De-Personalize and De-Clutter
While decorating plays a big role in catching a buyer’s eye, there’s a fine line between standing out and overdoing it. While you might like your style of decorating, buyers could find it off-putting, so keeping it neutral is key. Using house plants and seasonal greenery is always a solid option for filling empty space!
While you’re putting up that new decor, you’ll want your space to be clutter-free and open. If you have any old couches, outdated decorations, or unnecessary accent pieces, take the opportunity to get rid of them before showings start.
List Your Condo with the Local Experts
From helping you get your DIY on to handling the complicated closing paperwork, our team is dedicated to helping you have a successful and stress-free real estate experience.
Are you ready to get started on your selling journey? Don’t hesitate to give The Bouma Group, Realtors, your local experts a call at 734-761-3060 or email info@bouma.com today!
Get Prepared to Spring Ahead of the Condo Competition!
Spring brings two things: more buyers & more sellers! Get prepared now to stand out in the crowd!
Whether you plan on buying or selling an Ann Arbor Condo, contact the real estate specialists with The Bouma Group to get the answers you need! 888-581-6923 or info@bouma.com.