Spring is here.
We know it seems early, but this is the mindset you need if you are planning to buy or sell real estate this year. Many people don’t realize the spring market in real estate begins as early as February. If you have found yourself saying, “I’m waiting for the spring market,” then it is time to get started. Preparation is essential for both home sellers and buyers.
And it begins now.
The Competitive Spring Market
With more daylight hours, better curb appeal, and the school year winding down, there is typically an increase in the number of homes on the market and the number of people searching to buy a house in the spring. At One + Company, we know there isn’t a “slow” season in real estate, but transactions do pick up this time of year.
Even though the official start of spring isn’t until March 20th, waiting that long will put you at risk of missing out. An increase in listed homes and potential buyers means an increase in competition – on both sides of the transaction.
Prepare to Sell in the Spring Market
You want your home to stand out to potential buyers, no matter what time of year it is. With an influx of homes listed in the spring, this is even more important. Follow these guidelines, so your home among the first ready to show off to spring’s eager buyers.
- Find an Agent You Trust. Take the time to interview listing agents, so you know you are working with someone you trust with the sale of your home. Once you find the right agent, you will work together to create a specific plan to sell your home, with terms that work for you.
- Plan Your Next Move. To sell your home, you must know where you are going next. Listed homes often go quickly in the spring market, which means you do not have the luxury of time to figure out where your next move is. Are you looking to buy and sell at the same time? Are you moving into a rental? Are you moving out of state? Have a plan in place if your home sells quickly.
- Get Your Home Ready. Now is the time to clean, declutter, and prepare your home to look its best. Focus first on getting the interior of your home ready. That way, once the snow melts, all you will need to do is a quick clean up to the exterior. Read more on how to get your home ready for listing photos, open houses, and private showings:
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Prepare to Buy in the Spring Market
Many people begin their home search in the spring. Often, you will need to act quickly, as homes can often get multiple offers or sell in a matter of days. Follow these steps now, because sellers will not wait for you do them later:
- Get Preapproved. Finding your dream home doesn’t mean anything if you are not preapproved. Knowing your budget, and having the paperwork to show you are approved to buy, will allow you to put in an offer as soon as you find the home you want.
- Find a Buyer’s Agent. Working with an agent will help alleviate stress throughout the home search, negotiation, and closing on a home. Similar to when selling a home, it is important to interview and find a buyer’s agent you trust as you get ready for your move.
- Be Decisive. Know exactly what you want and what you are willing to pay. Communicate with your agent what you must have in your home and neighborhood. When it comes to putting in an offer, be prepared to act quickly, as more people are searching for homes this time of year.
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Are you buying or selling this year? The spring market is a fast-paced time for both sides. Prepare now to make the most of your transaction.
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