Navigating today’s real estate market can be challenging, but with the right guidance and strategy, you can make the most of your hard-earned money. The experts on the Stern team want to help you understand how to maximize the value of your investment, whether you are buying or selling a home.
Below are some essential tips and ideas to guide you through the process.
Sell your house
Set the right price
The right price is crucial when selling your home. It is essential to price your property at a realistic market value to generate the most interest. A property attracts the greatest number of visits when it first comes on the market. Starting too high and then lowering the price can lose the initial enthusiasm and not generate strong activity. Many homes that are initially overpriced end up selling below market value.
Pricing your property competitively will generate the most activity from agents and buyers. By setting a competitive price from the start, you maximize interest and create a sense of urgency among potential buyers.
Bankrate reports that the asking price is “the starting point that influences how people view the property. If you overprice it, people may be afraid or unwilling to make an offer, or worse, they might simply move on.” from the list without considering it at all. “.
“Price correctly. It will correlate with multiple offers, resulting in you making more money than pricing high and making price reductions,” explains Josh Mondale, a real estate agent on the Stern Team.
Market your house to sell
Selling a home involves more than simply listing it on the MLS. Effective marketing involves using a wide range of platforms to ensure your property reaches the right audience. Innovative strategies can maximize exposure and attract potential buyers.
Video ads: Video ads enable advanced targeting, allowing marketers to reach specific interests and demographics. This approach ensures that your property is seen by consumers who are likely to be interested, including those who are difficult to reach through traditional means.
Social media: Proper use of social media can create targeted advertising campaigns that showcase your property to a wide audience along the Wasatch Front. This method is cost-effective compared to print media and provides real-time engagement and analytics that allows trained real estate agents to optimize the campaign.
Open Houses: Effective open houses must be meticulously planned and executed by trained agents who combine traditional and modern marketing techniques, including social media posts, door knocking, phone calls, and strategic signage. These efforts ensure high visibility and generate significant interest in your property.
Photo: DELBO ANDREA/Shutterstock.com
Staging for effect
Staging your home to create a professional appearance that best represents your property is a critical component of presenting your home in the best light possible to potential buyers. Your goal is to get the best price in the shortest time possible by creating a warm and welcoming environment that highlights the best architectural features and selling points of your home.
The National Association of Realtors reported that a 2021 survey of 4,600 properties found that staged homes sold nine days faster and on average $40,000 above list price.
Here are some things to consider when organizing your home:
Sort and depersonalize: Remove personal items and unnecessary clutter. This allows buyers to imagine living in the space without being distracted by their personal belongings.
Highlight key features: Focus on the unique and desirable features of your home. Whether it’s a stunning fireplace, high ceilings, or custom cabinets, make sure these aspects stand out to buyers.
Create a warm and welcoming atmosphere: Make sure every room feels warm and inviting. From proper lighting to perfect furniture placement, try to make every area of your home attractive.
By following these preparation tips and utilizing our expertise, you will be able to market your home effectively, attract serious buyers, and achieve the best possible outcome in today’s competitive real estate market.
Buy the house of your dreams
Here are some key tips to help you get the home of your dreams:
Think outside the box
In today’s market, it is important to explore all available options to make a smart purchase. An innovative approach is to consider alternative financing options.
“Take advantage of seller financing and assumable loans that are available…this is a great way to take advantage of lower interest rates that sellers have that could be passed on to the buyer,” says Michael Wolters, a real estate agent on the team Stern.
Seller financing allows buyers to make payments directly to the seller, often with more flexible terms than traditional mortgages. Assumable loans allow buyers to take over the seller’s existing mortgage, potentially benefiting from lower interest rates. These creative financing options can make homeownership more accessible and affordable.
Don’t wait to buy
Timing the market can be a risky strategy. Instead of waiting for conditions to be perfect, consider the benefits of buying now.
“It is better to buy now and accumulate capital than to wait and hope that rates go down,” explains Hunter Moore, an expert on the Stern team.
By purchasing a home now, you start building equity right away. Over time, the value of your property can appreciate, providing you with financial stability and growth. Additionally, waiting for interest rates to drop can mean missing out on current opportunities and potential capital gains. Acting now allows you to secure a property at current prices and start benefiting from home ownership immediately.
Stay flexible and patient
Buying a home can be an emotional journey, especially in a competitive market. Be flexible with your expectations and patient throughout the process. If you lose a property, remember that the right house is available and your perseverance will pay off.
By following these tips from the experts at The Stern Team, you’ll be able to navigate the complexities of today’s real estate market and find a home that meets your needs and budget.
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