Zillow reports that the best time to sell a house to get the highest price and minimize time on the market is in the spring — specifically, during the first half of May. But that doesn’t tell the whole story. Though homes listed for sale during this window sell nearly two weeks faster than average, and for an extra $2,500 to boot, a big part of that has to do with weather-related factors.
In parts of the country where all four seasons exist, spring has the advantage of attracting potential buyers who are done hibernating and are ready to do the legwork of visiting homes in person. Houses also tend to have more curb appeal in the spring, when flowers are blooming and grass is vibrant and green. But in some parts of the country, seasonal weather doesn’t come into play nearly as much
The rise of mobile applications has transformed our daily lives by shaping the way we work, spend leisure time, and search for information. In 2014, global usage of mobile devices surpassed desktop usage and it has continued to be preferred channel to consume information. With over 2.2 million mobile apps to choose from, users stay glued to their phones, causing consumption to drastically increase.
The real estate industry has capitalized on this trend and created a mobile marketplace where buyers can easily search for homes by using real estate apps. And their marketing efforts are proving to be successful. 68% of new home shoppers use real estate mobile applications throughout the entire house hunting process.
It’s not enough to show up on the big real estate websites. These days, you need to think mobile first. In the Apple App Store, the top six real estate apps listed for buyers include:
List your properties here to ensure the high visibility and talk with your real estate agent to for additional insight on city-specific mobile applications that you should be listed on. (source: homelight.com)
Thinking of selling your home? Call me today for an over the phone consultation.
Seeding your lawn to make it lush and green gets you all of your money back plus a whopping 317%. This improvement has the highest return on investment out of all the renovations on both Cost vs. Value and the National Association of Realtors’ lists. (source: homelight.com)
Want to sell your home for Top Dollar? Price it to end in 99
“Psychological pricing” is the phenomenon where items with prices ending in .99 sell more and faster than items with prices without the .99 tag. Zillow paired its data with studies that examined the effect of psychological pricing on consumers.
A study by Schindler and Kibarian examined retail sales and concluded that items with a tag that ended in .99 sold 8% more than items that did not. Zillow found that houses sold up to one week faster when priced ending in .99, eg. 429,900. You can use this strategy with your agent to get an edge on subconscious buyer appeal. Learn more about Zillow’s data studies in our list of best real estate books for 2016.
Here is a list of 5 most common requests that home buyers make to sellers to close the deal
#1 “lower the sale price”
#2 “make minor repairs”
#3 “pay for some/all buyer’s closing costs”
#4 “change the closing date, extend or shorten escrow period”
#5 “give money to buyers instead of making repairs to home”
(source: consumer housing trends report 2017)
Attention Home Sellers: an experienced Realtor can help you mitigate these requests in your favor
The real estate market is tied into consumer confidence and sentiment. That is why it’s important to track the consumer confidence survey. The Conference Board Consumer Confidence Index® decreased in March, following an increase in February. The Index now stands at 127.7 (1985=100), down from 130.0 in February. Consumers’ assessment of current conditions declined slightly, with business conditions the primary reason for the moderation. Overall expectations remain quite favorable. Despite the modest retreat in confidence, index levels remain historically high and suggest further strong growth for the economy (and real estate sales) in the months ahead.
The real estate market is tied into consumer confidence and sentiment. That is why it’s important to track the consumer confidence survey. The Conference Board Consumer Confidence Index® increased in February, following a modest increase in January. The Index now stands at 130.8 (1985=100), up from 124.3 in January. Consumer confidence improved to its highest level since 2000 (Nov. 2000, 132.6) after a modest increase in January, Despite the recent stock market volatility, consumers expressed greater optimism about short-term prospects for business and labor market conditions, as well as their financial prospects. The proportion expecting more jobs in the months ahead increased from 18.7 percent to 21.6 percent.
Overall, consumers remain quite confident that the economy will continue expanding at a strong pace in the months ahead. Consumers’ outlook for the job market was also more positive. (Source: Consumer Confidence Survey)
Similarly, sellers are often leery of pricing their home on the low end. But as counterintuitive as this seems, this strategy can often pay off big-time. Here’s why: Low-priced homes drum up tons of interest, which could result in a bidding war that could drive your home’s price past your wildest dreams.
5 Reasons To Sell Your Home Early In 2018
- Mortgage rates are historically low which is drawing buyers into the market before they go up
- Inventory is low and demand is high. The less homes on the market, the better for you. If you want top dollar, then competition from other home sellers will decrease your chances.
- Home prices are still increasing
- People have more money in their pocket, unemployment is on the decline
- Millennials are ready to commit. This age group is projected to account for 43% of home buyers in 2018 (source: realtor.com)
Ready to sell your home? Call today 323-717-2262