Houses Sell All Year Long

Many people decide to wait until Spring to list their homes for sale. This can be a mistake. If you have amazing gardens, OK, that's a good reason. But if not, here's why it doesn't make sense:

  • Homes sell all year long. Any given month, 6% of the total annual sales will likely occur. In summer months, that volume may double, but people are buying houses every month.
  • There is less competition during the winter. If your house isn't one that would be featured on the cover of Better Homes and Gardens, you can benefit from less competition!
  • Life changes occur and people HAVE to buy a house. Every day, someone is transferred, family members require moves, health issues happen. A buyer who HAS to move is a great buyer.
  • Interest rates are low. Who knows what may happen in the spring and summer of 2014? As interest rates move up, prices become suppressed to keep housing affordable. Take advantage of today's scenario with housing prices rising and interest rates low.
  • If you're waiting for huge increases in house prices, expect to wait a long time. Projections for our area are for modest growth; consider 3% per year. That is, unless interest rates rise, in which case housing price increases may flatten.

Twenty two houses went from Active to Pending Inspection from October 15-November 3 on Bainbridge Island. There aren't enough houses for sale to meet the demand. Now may be the best time to put your house on the market.

Posted on November 4, 2013 at 5:05 pm
Patti Shannon | Category: Bainbridge Island Real Estate, Homeowner Tips, Housing Market Forecast, Selling Your Home

It Pays to Stage

Professional staging of homes before listing for sale can take a variety of forms. It can mean decluttering and rearranging your existing furniture to make your home more neutral and inviting to prospective buyers, or it can mean taking out all or most of your furnishings and replacing them with the look that sells in today's market. Staging can include painting … interior walls or kitchen cabinets, for example.

Today's Housing Wire Update reports that in a recent study, 359 homes underwent staging before hitting the market, and the homes received a first offer within 26 days after the staging. Of these homes, 69 received multiple offers. When a seller invests in staging before they list their home, the home will sell 87% faster, RESA studies proved.

When you read the article, note that they mention the average staging fees to be 1-3% of the list price. That would mean $5,000-$15,000 on a $500,000 home. The largest staging investment my clients have worked with cost $4200, and that was to completely furnish a 3500 sq. ft. house that sold in the $600,000 range.

Once staged, you still have to price it right and advertise it well. But I agree that Sellers often leave big money on the table by not taking the time to do it right.

Posted on September 4, 2013 at 3:09 pm
Patti Shannon | Category: Bainbridge Island Real Estate, Homeowner Tips, Selling Your Home | Tagged , , ,