After 22 years in the business as a full time REALTOR®, I recognize that finding a real estate agent to help you sell your house isn't difficult, but finding an experienced, qualified expert trained to utilize a systematic approach proven to generate market-leading results to sell your home can be a daunting task. For this reason, I have engineered a listing services system that is built on market-research-proven strategies such as expert knowledge, innovative marketing, sweeping exposure to local and out of town buyers, local connections, and team support. If you are thinking about selling soon, let's schedule a time to discuss the many benefits of listing with me and I will show you exactly how we can position you to win in this market. Here is my direct cell # 915-494-0949 Alberto Serrano.
If your listing has expired and your house didn’t sell, it's completely normal to feel a mix of frustration and disappointment. Understandably, you're probably wondering what may have gone wrong. Here are three questions to think about as you figure out what to do next.
One of the biggest mistakes you can make when selling your house is restricting the days and times when potential buyers can tour it. Being flexible with your schedule is important, even though it might feel a bit stressful to drop everything and leave when buyers want to see it. After all, minimal access means minimal exposure to buyers. ShowingTime advises:
“. . . do your best to be as flexible as possible when granting access to your house for showings.”
Sometimes, the most determined buyers might come from far away. Since they’re traveling to see your house, they may not be able to change their plans easily if you only offer limited times for showings. So, try to make your house available as much as you can to accommodate them. It's simple – if no one’s able to look at it, how will it sell?
When you're selling your house, the old saying matters: you never get a second chance to make a first impression. Putting in the work to make the exterior of your home look nice is just as important as how you stage it inside. Freshen up your landscaping to boost your home’s curb appeal so you can make an impact upfront. As an article from U.S. News says:
“After all, if people drive by, but aren’t interested enough to walk through the front door, you’ll never sell your house.”
But don’t let that impact stop at the front door. By removing personal items and reducing clutter inside, you give buyers more freedom to picture themselves in the home. Plus, a fresh coat of paint or thorough floor cleaning can work wonders in sprucing up the house for potential buyers.
Setting the right price is key. While it might be tempting to push the price higher to maximize your profit, overpricing your house can actually turn off potential buyers and slow down the selling process. Forbes notes:
“Pricing a home too high could lead to a slower sale or force the seller to drop their price.”
If your house is priced higher than others like it, it may discourage buyers, resulting in increased time on the market. Pay attention to the feedback people give your agent during open houses and showings. If lots of people are saying the same thing, it might be a good idea to think about lowering the price.
For all these insights and more, rely on a trusted real estate agent. A great agent will offer expert advice on relisting your house with effective strategies to get it sold.
It’s natural to feel disappointed when your listing has expired and your house didn’t sell. Let’s connect to determine what happened, and what changes you should make to get your house back on the market.
It's all about getting closer to loved ones. If you’re craving more quality time with the people who matter the most to you, it may be time to sell and relocate. You could even use your equity to help fuel your move. If you want to learn more, let’s connect.
Nearly a quarter of homeowners say they are considering selling their home in the next three years or have their home currently listed for sale, a significant increase from a year ago. In a market in desperate need of more for-sale listings, this new finding, from Zillow Group Population Science’s Quarterly Survey of Homeowner Intentions and Preferences (QSHIP), suggests that inventory levels dragged down by rate-locked homeowners might soon be on the rise.
Overall, 23% of homeowners surveyed in June of 2023 say they are either listing their home for sale or considering selling their home in the next three years, up from 19% in Q1 and 15% a year ago. Among those, four in 10 said they are considering selling in the next year.
The homeowners considering selling in the next three years most often (66%) cited a desire for an upgraded home with nicer features as the reason. Half said it was because they expect to get more money now than in the future, and 45% said a growing family is influencing their decision to sell and move.
Among those not considering a sale in the next three years, 79% said it’s because they love their home.
A lack of for-sale inventory continues to hamper the market for existing homes. More than 28% fewer homes entered the for-sale market in June compared to a year ago, helping to push the total number of active listings for buyers to choose from down 10% year-over-year. Mortgage rates remain elevated, having more than doubled in the past year, leaving many homeowners reluctant to sell and take on a more expensive monthly payment at a higher rate. Indeed, about one in three (35%) QSHIP respondents who did not intend to sell their home in the next three years cited a concern about the ability to find or afford a new home as a reason why.
Homeowners with a mortgage rate above 5% are nearly twice as likely to say that they plan to sell their home than those paying a rate below 5%. About 90% of mortgage holders surveyed reported having a rate below 6%, while almost a third reported a rate less than 3%.
As the visual shows, given the current inventory of homes, it’s still a seller's market.
Today, we’re nowhere near what’s considered a balanced market. In fact, the current months’ supply is half of what’s typical of a normal market. That means there just aren’t enough homes to go around based on today’s buyer demand.
As Lawrence Yun, Chief Economist for NAR, says:
“There are simply not enough homes for sale. The market can easily absorb a doubling of inventory.”
Sellers, these conditions give you a real edge. Right now, there are buyers who are ready, willing, and able to purchase a home. And, because there's a shortage of homes up for sale, the ones that do hit the market are like magnets for those buyers.
If you work with a local real estate agent to list your house right now, in good condition, and at the right price, it could get a lot of attention. You might even end up with multiple offers.
Today’s seller’s market sets you up with a big advantage when you sell your house. Because supply is so low, your house will be in the spotlight for motivated buyers who are craving more options. Let’s connect so you understand what’s happening in our local area as you get ready to enter the market.
Your Home Equity Can Offset Affordability Challenges
Are you thinking about selling your house? If so, today’s mortgage rates may be making you wonder if that’s the right decision. Some homeowners are reluctant to sell and take on a higher mortgage rate on their next home. If you’re worried about this too, know that even though rates are high right now, so is home equity. Here’s what you need to know.
Bankrate explains exactly what equity is and how it grows:
“Home equity is the portion of your home that you’ve paid off and own outright. It’s the difference between what the home is worth and how much is still owed on your mortgage. As your home’s value increases over the long term and you pay down the principal on the mortgage, your equity stake grows.”
In other words, equity is how much your home is worth now, minus what you still owe on your home loan.
Recently, your equity has been growing faster than you might think. To help contextualize just how much the average homeowner has, CoreLogic says:
“. . . the average U.S. homeowner now has about $290,000 in equity.”
That’s because, over the past few years, home prices went up significantly – and those rising prices helped your equity to accumulate faster than usual. While the market has started to normalize, there are still more people wanting to buy homes than there are homes available for sale. This high demand is causing home prices to go up again.
According to the Federal Housing Finance Agency (FHFA), the Census, and ATTOM, a property data provider, nearly two-thirds (68.7%) of homeowners have either fully paid off their mortgages or have at least 50% equity (see chart below):
That means nearly 70% of homeowners have a tremendous amount of equity right now.
With today’s affordability challenges, your equity can make a big difference when you decide to move. After you sell your house, you can use the equity you've built up in your home to help you buy your next one. Here’s how:
“These all-cash home buyers are happily avoiding the higher mortgage interest rates . . .”
“Increasing your down payment lowers your principal loan amount and, consequently, your loan-to-value ratio, which could lead to a lower interest rate offer from your lender.”
If you're thinking about moving, the equity you've built up can make a big difference, especially today. To find out how much equity you've got in your current house and how you can use it for your next home, let’s connect.
Accurate pricing is key to get as many people as possible to tour and make offers on your home, especially when you first list your home. There’s a current pool of buyers waiting for new listings to hit the market, which is why accurate pricing and staging your home properly is crucial.
Once we’ve determined the price, I can give you advice about the little things that you can do to stage your home to get you the highest possible price! You’d be surprised by the simple measures you can take to dress up your home to attract more qualified buyers.
I have a marketing plan that is designed to get maximum exposure to the buyers that are currently looking, and all agents that have buyers. Through pricing, staging, agent accessibility, and visibility, both on and offline, I can successfully sell your home to help you achieve your goals.
You may be wondering if prices are projected to rise or fall... or how much competition you may be facing in the market. I put together a free eGuide for you that will answer many of your questions and likely bring up a few things you haven't even thought about yet. Just click the button below to read it now!
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