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Real estate market update and selling tips

Created date

March 26th, 2013

Laurie Phillips, real estate agent and personal moving consultant at Brooksby, recently shared news about the real estate market as well as some selling tips for 2013:

Market expectations

The expectation of home buyers in 2011 was they could make demands on the seller and purchase a home for less than its market value. In 2012, we definitely saw things start to shift a bit from buyer to seller, and this trend appears to be continuing in 2013. There is less inventory and, because of supply and demand, houses are starting to sell. We re definitely seeing shorter times on the market and better prices. In 2011, the average house was on the market for 7.9 months. In 2012, that dropped to 4.7 months. Interest rates are phenomenal, so there are more buyers for these properties. It s becoming a better time to sell. I expect there will be more inventory in the springtime, but people have to move throughout the year, so it s always a good time to sell. Sometimes, your property can get lost in the spring inventory, so price it well. You can price it high and miss your mark, or you could price it a little lower than your competition and sell it for more than your asking price.

Home buyer profile

Often, home buyers are first-time buyers, typically, in their mid-to-late 20s. And a buyer who s young and buying their first home is very different from a buyer who has bought and sold a house before. Many are moving out of parents homes, where they may have saved a down payment. Most don t have the skill yet to make the changes and repairs to an older home and therefore tend to expect home repairs and improvement will cost them a lot of money. They see wallpaper and think, How am I going to do this? It s going to cost so much money to have it stripped and painted. It may make more sense for the seller to have the work done before putting the house on the market, thereby overcoming the objection before it happens.

Quick tips

Walls. Have wallpaper removed, and paint the walls a neutral color. Painting is an inexpensive way to brighten a home. Floors. If your carpet is dated and stained, install neutral carpeting, or if the carpet covers hardwood floors, you may want to have it pulled up. You don t necessarily have to professionally finish your wood flooring, but the buyer will want to see it. All over. Do a really thorough spring cleaning and decluttering I can t say enough about how that improves the potential for a quick and successful home sale.

Realty and Moving Services

Brooksby s complimentary realty and moving services are superior to those offered by other independent living facilities. That s because Brooksby helps with every aspect of your move. Brooksby s team of experts can provide these important services: Connecting you with a real estate professional with proven success in your area. Analyzing the market to help you price your house properly. Downsizing and organizing one of Brooksby s most popular and requested services. Removing items you wish to discard, donate, or sell. Packing and moving. Supervising on moving day. Helping you place furniture and decorations in your new Brooksby apartment home.