Getting your home ready to sell!

Posted by Donna Soda on Monday, April 24th, 2017 at 1:31pm.

If you and your neighbors are discussing the local real estate market, comparing

real estate rumors and wondering what’s up with the market? I’ll tell you it’s

next to terrible. The re-sale market continues to suffer due to all the new

construction competition and large inventory of resale homes on the market. I

know the conversations Donna and I are having with our Sellers. Sellers are

frustrated, having to keep the home “show ready” and not receiving an offer. If

you do get an offer on your house, you’d better give it some serious thought and

consideration to take it or negotiate very little. The resale market continues to

decline. New construction is the huge competition. Buyers want the bright,

shiny new construction. If a Buyer can afford $500,000, they can afford to spend

$700,000 and build new. Same thing in all price ranges. If one can afford

$900,000 they can buy new for $1,200,000.

The second very important item plaguing resales is not many owners are

updating their homes. The homes built before 2010 look tired. One needs to

keep up with the trends. But that doesn’t mean you’re going to get your money

back for the amount you put in. It just doesn’t work that way. Your home will

sell quicker and probably for a higher price than your neighbors who have done

nothing to their same age home. Trends and colors have changed drastically.

Yellows, golds are OUT. Its grays, certain beiges, either white or chocolate

cabinetry. Sea foam colors are great in bedrooms and bathrooms. We are even

seeing more navy blue accent pieces. Architectural trends are leaning toward

cleaner simpler lines. Certainly, not the heavy faux or green plants in every

corner of the home or above the cabinets. Architectural designs search for more

personal space. What you really need to live in, not just big space. Younger

families are living smaller, smarter and much more casual.

It’s taking much longer to sell homes due to the very high inventory and new

construction. Buyers are afraid they are going to miss something, SO they

continue to look and become more confused. That’s one of the real reasons

offers are so few and far between.

Jim Soda

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