hether you are relocating for work, moving to a more desirable neighborhood, making room for a growing family, or downsizing you need to take steps to make sure that your house is ready to sell. The peak season for selling a home in Hampton Roads is typically during the spring. It peaks in the spring but remains an active market through the summer into September. It dips somewhat in October through December only to rebound the end of February beginning of March. Hampton Roads Real Estate Market is unlike most other markets in the country. We enjoy a steady market due to military and an attractive economy.
While spring time is generally the best time to sell in Hampton Roads, there are some strategies that you can put into action to help sell your home regardless of the season or current economic conditions in our area. Here are a few tips to help you get ready to sell your home!
Research your local housing market
If you have lived in your current home for at least a couple of years, you most likely have a general idea of housing prices in your neighborhood and local economic conditions. It is still a good idea to do some additional homework and research housing activity in your area. One place to find local housing statistics is through our Local Market Update Report. Our Report provides houses currently on the market, currently under contract and sold within the last 6 months. Check out our Report here.
Once you retrieve the report, find out how many houses are currently on the market in your area and the average list price. Next, take a look at comparable homes in your neighborhood to get a general idea of what the competition looks like. A comparable or “comp” home has similar features and is usually located within a close proximity to your home. Examining the number of bedrooms, bathrooms, lot size, and other features are important when seeking out comparable properties. If you really want to go the extra mile in reviewing comparable properties, visit open houses.
Set a reasonable asking price.
Pricing your home correctly from the start is extremely important. Avoid making emotional decisions or anchoring your listing price to the home’s previous value. If we are in a “seller’s” market, there are more buyers than sellers and prices are likely being driven up by that demand. You can often price your house more aggressively as long as you stick within reasonable price limits. In a “buyer’s” market, buyers tend to be more selective and pricing usually needs to be at or slightly below market value to attract an offer. Seek the assistance of a Realtor to guide you through deciding a list price.
Improve your home’s curb appeal!
When it comes to buying a home, first impressions are key. It can be the difference between getting buyers in the door or them deciding your home is not for them from afar. Landscaping updates will detract from that positive first impression.
De-clutter/De-personalize your home!
This step includes removing personalized photos, memorabilia, and other knickknacks. Your Realtor can give you an independent, objective assessment of what should stay and what should go. In most cases, major renovations aren’t usually necessary, but a fresh coat of paint and minor repairs can leave a potential buyer with a good first impression. It’s also helpful to have different pictures and furniture layouts available to provide buyers with a vision of how various spaces could be used in different ways to meet their lifestyle needs and desires.
These tips will be helpful to you if you are planning to sell your home within the next six months. Your home may be the location for countless memories (both good and bad). However, avoid letting emotions drive your selling decisions and be sure to consult a Realtor to help you incorporate some strategies to get the home sold quickly and for the best price!
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View your local market report!