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Are you ready for the Selling Season

by Harold Powell

Are you ready for the Selling Season

Since it’s that time of year when sellers are getting their home ready for the Spring market, a lot of clients ask me about what they need to do to get their home ready. To best answer this question it’s important to understand what things affect a  buyer’s decision on whether they want the home and how much to pay.  As a seller it can be money and time well spent that nets you a better price.

Also worth mentioning that over 90%+ of today’s buyers look online which means how your home looks online will have an affect of whether buyers will consider viewing your property.  Watch today’s video for preparing your home for  showings and online exposure.

NAR Generational study

The 2015 National Association of Realtors® Home Buyer and Seller Generational Trends study offers some interesting insights. Despite the economic and financial head winds young adults have faced since the recession, the millennial generation represented the largest share of recent buyers, according to the 2015 National Association of Realtors® Home Buyer and Seller Generational Trends study.

Interestingly, the survey discovered that a strong majority of buyers search for homes online and then buy their home through a real estate agent, with millennials using agents the most. For the second year in a row, NAR’s study found that the most sizable group of recent buyers were millennials, those 34 and younger, who comprised 32 percent of all buyers (31 percent in 2013).

Generation X, those age 35-49, were next with a 27 percent share. Millennial buyers represented more than twice the amount of younger boomers (ages 50-59) and older boomer (60-68) homebuyers at 31 percent. The Silent Generation (ages 69-89) made up 10 percent of buyers in the past year.

Here are a few takeaways from NAR's Generational Trends study:

  • Gen Y comprises the largest share of home buyers at 32 percent, which is larger than all Baby Boomers combined.
  • Gen Y also has the largest share of first-time buyers at 68 percent.
  • At least 80 percent of buyers who are aged 59 and younger bought a detached single- family home; it is increasingly common for buyers over 59 to purchase townhouses and condos.
  • Among all generations of home buyers, the first step in the home buying process is looking online for properties for sale. Younger generations of buyers typically find the home they purchase through the internet, while older generations of buyers first found the home they purchased through their real estate agent.

THE BEST SELLING STRATEGY

Sellers, you have an excellent opportunity to sell your home this season, if you have the right pricing strategy in place from the start! Studies show that the longer a property stays on the market, the less the seller will net upon the sale. It is very important to price your property at a competitive market value at the signing of your listing contract. The market is so competitive that even over-pricing by a few thousand dollars could mean that your house will not sell.

An Overpriced Home:
· Minimizes offers
· Decreases agents response
· Limits qualified buyers
· Decreases showings
· Decreases prospects
· Limits financing
· Nets less for the seller

When you are ready, contact us today for a personal market value analysis of your home. No hassles or obligation - just honest advice on how to get top dollar for your home!

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Contact Information

Photo of Harold Powell Real Estate
Harold Powell
RE/MAX Gold Coast Realtors
5720 Ralston St. Ste. 100
Ventura CA 93003
(805) 339-3516