The kids are long gone, you've settled into retirement, and now you are thinking about downsizing. If you're ready to trade in your multi-level house for one-level, maintenance-free living at Oak Crest, now is a great time to explore your options.
Low inventory coupled with a near 6% increase for home prices is giving sellers the upper hand at the start of 2021. Experts at Realtor.com are predicting mortgage rates to stay at record lows for the first two quarters of the year giving home buyers more buying power and resulting in a strong spring and summer home season.
Deborah Harari, a real estate agent with Long & Foster in Abingdon, Maryland, says if you are hoping to sell your home this year, it's time to get the ball rolling.
“It is never too early to sit down with a real estate professional,” says Harari. “This will help you gain knowledge of the value of the property and any improvements that need to be made to maximize the value of your home. And it will give you time to gradually make those improvements without being overwhelmed and allow you to make decisions that are thought out. In the end, you will be more secure, gain more from the sale of your home, and move forward in the process with less stress.”
Whether you are a seasoned pro at moving or have lived in the same home for thirty years, to get top dollar for your home it's important to be armed with the most up-to-date selling tools and practices.
Over the last seven years, Harari has helped many longtime homeowners successfully sell their homes and move to Oak Crest, an Erickson Living-managed community. Her advice: a little freshening up can go a long way.
“When listing your home, it is very important to hire a professional cleaner. This is money well spent. They will make sure the home not only looks but smells clean. This is so important when buyers are walking through your home; it gives you the warm feeling that not only was the home cared for but loved,” says Harari. “Simple things like paint, new carpet, and making sure the home is squeaky clean allows the buyer to envision themselves there. These improvements can increase value and help shorten days on market.”
If you're considering putting your home on the market this spring, you don't need to sink all of your home equity into remodeling. Making minor updates can make a major difference in both how quickly your home sells and how much it sells for. But when it comes to more extensive updates such as renovating a kitchen or bath, Harari says if you prefer to sell as-is, the listing price should reflect that.
“I discuss with sellers how much they want to invest and what that investment will add to the value of the property. As a real estate agent, it's my job to counsel you and guide you through the process,” says Harari. So, how do you determine what the fair market price of your home is? Harari says it is important to review the most recent sales and listings with your real estate professional.
“They can help you understand the price point that your home falls into. When a home is priced correctly, it will draw more buyers and potentially increase the price of the home,” says Harari.
Oak Crest offers prospective residents assistance through their Erickson Realty and Moving Services program to help maximize the profit on their homes and expedite a speedy sale. Erickson Realty and Moving Services offers help with every aspect of the moving process, including home consultations, professional real estate advice and marketing, staging, downsizing, packing, moving, and an array of other services.
“Our goal is to simplify the moving process,” says Oak Crest Personal Moving Consultant Ashley Ruth. “The more obstacles we can eliminate, the sooner you can move and start enjoying your new home and this outstanding lifestyle.”
Plenty of options
According to Harari, spring is an excellent time to sell but not your only option.
“It's a great time of year because flowers are blooming, grass is turning green, and the trees are getting full, which can help your home feel welcoming. Buyers have been stuck inside for the long, cold months and are now focused on what they don't like about their current homes and are focused on what they want in their next home,” says Harari.
“However, more homes typically hit the market in the spring, which leads to more competition,” she says. “More buyers will also be shopping around, but some will only become tire kickers and open house visitors, trying to figure out what they really want. So, the best advice is to list your home when you are ready to list your home. The fall and winter months may bring fewer showings but more serious buyers.
Talk to a real estate professional and they will explain all of your options so you can decide what works best for you.”
Written by Danielle Rexrode
To learn more about the realty and moving services program and how it can help prepare you during spring home selling season, please visit https://www.ericksonliving.com/oak-crest/apartments/moving-services.