How to Sell a House fast in 2017
So you've decided to sell your house. That's great! Selling your home can be bittersweet, but it's also an exciting experience as you prepare to start your life in a brand new home! Once you've decided to put your house on the market, it can be a daunting task. You may even put it off for months or even years because you've heard about the state of the economy and aren't sure how to time your sale to get the highest profit.
Well, the new year just started, which means it's the perfect time to get the ball rolling and put your house on the market. Here's how to sell a house fast in 2017!
1. Get the Price Right
Cost is everything to sellers and buyers alike, making it the most crucial element to selling your home quickly. A house priced too low will leave you without much profit, while an excessively overpriced home will have you dodging repeated lowball offers with no end in sight.
In order to price your house for sale, investigate other recent sales and properties currently listed in your neighborhood. How does your house compare to them in terms of amenities and size?
Every real estate agent has their preference when pricing a house. Doug Hopkins a real estate agent in Phoenix Arizona, confessed, "I am a huge proponent of underpricing just ever so slightly. First-time home buyers are extremely savvy these days and watch the market like hawks on APPS like Zillow and Redfin. They are well aware of the bloated asking prices we are experiencing currently.”
Investigate the real estate market. Compare your home to other properties nearby, and price your home at a reasonable rate. It's okay to go slightly overpriced if you think you can get an offer for the price you actually want to sell for, but be realistic and understand that any buyers are already going to be well-aware of the competition.
2. Finance Your Own Sale
Some people have a hard time keeping their bank account in order, so the thought of financing an entire house sale on their own is pretty terrifying. But affordability is a major concern for buyers nowadays with the federal fund rate increasing. It's currently at 0.25 percent and expected to go up another 5 percent this year.
Financing your own home sale allows you to offer lower interest rates to your cash buyer than a traditional mortgage lending firm. This can speed up the sales process tenfold.
3. Stage Your Home
Your house should look showroom new when it's being shown to potential buyers. Open houses are a must, but you can't just vacuum, make the beds and call it a day. Hire professional cleaners to scrub the place top-to-bottom; add as much natural light as possible by pulling back curtains and removing blinds and screens; clean walkways; organize garages, cabinets, pantries and closets; hide personal items and create an environment that buyers are able to envision themselves living in.
More open space means more room for their imaginations to wander.
4. Prepare for the Weather
If you're selling your house in the winter, make sure you have gutter heaters installed to prevent water damage and leaky ceilings. In hotter climates, add new window glazing and weatherproofing tape to beat the heat.
Also, make sure any basements have a sump pump for flood prevention.
5. Time the Sale
Early spring and summer are the best times to sell a home according to the Huffington Post. The new election and an uncertain economic future may strike fear in buyers, so it's important to act fast and target the real estate market's prime sale months.
6. Target Millennials
Generation X is growing up and moving out. Millennials are one of the hottest demographics in real estate, so if you want to sell your house fast in 2017, market to them. Features they tend to love most are backyard decks, gourmet kitchens, balconies, open floor plans and vegetable gardens. If your house boasts any of these amenities or similar ones, be sure to mention them in your listing and show them off during an open house.