McLain Realty Team Best Time to put a House on Market
The best time to sell a house is a matter is based on Market Conditions.
With the Fed increasing interest rates, more buyers will be taken out of certain affordability price ranges. In New Jersey, the market still favors Home Sellers. This makes right now, Spring 2022, the best time to sell a home. The Federal Reserve is slated to increase the interest rates more in the coming months.
The best time to sell a house is a matter is based on Market Conditions.
With the Fed increasing interest rates, more buyers will be taken out of certain affordability price ranges. In New Jersey, the market still favors Home Sellers. This makes right now, Spring 2022, the best time to sell a home. The Federal Reserve is slated to increase the interest rates more in the coming months.
What are the best home improvements for Return on Investment?
In any housing market it is important to know what projects to tackle. Some renovations may not be necessary in order to make your home stand out from the rest. Other improvements may not bring you a good Return on Investment.
Many analysts projected home price appreciation would slow dramatically in the fall of 2021 and then continue to soften throughout 2022. So far, that hasn’t happened. The major price indices are all revealing ongoing double-digit price appreciation. Here’s a look at their reports on year-over-year price appreciation for December:
To clarify, deceleration is not the same as depreciation. Acceleration means prices rise at a greater year-over-year pace than the previous month. Deceleration means home values continue to rise but at a slower pace of year-over-year appreciation. Depreciation means prices drop below current values. No one is forecasting that to happen.
In fact, the FHFA revealed that price appreciation accelerated in December in six of the nine regions it tracks. Case Shiller showed that appreciation accelerated in 15 of the 20 metros they report on. As Selma Hepp, Deputy Chief Economist at CoreLogic, explains:
“After some signs of slowing home price growth . . . monthly price growth re-accelerated again, indicating home buyers have not yet thrown in the towel.”
What Does This Mean for You? Are New Jersey Home Prices Going to Continue to Rise?Whether you’re a first-time purchaser or someone looking to sell your current house and buy a home that better fits your needs, waiting to decide what to do will cost you in two ways:
Home prices should continue to appreciate at double-digit levels for some time.
If you wait, rising mortgage rates and high home price appreciation will have a dramatic impact on your monthly mortgage payment.
Bottom Line
Maybe the best thing to do is listen to the advice of Len Kiefer, Deputy Chief Economist at Freddie Mac:
“If you’re thinking about waiting until next year and that maybe rates are higher, but you’ll get a deal on prices – well that’s risky. It may be more advantageous to purchase this year relative to waiting until 2023 at this time.”
John McLain 908.878.9356 McLainRealtyTeam@gmail.com
If you’re on the fence about whether or not you want to sell your house this year, there’s good news. Real estate professionals are highly experienced in how to sell houses safely during the pandemic. Over the last year, agents have adopted new technologies and safety measures designed to keep you safe. And experts say these practices are here to stay. As Bob Goldberg, CEO of the National Association of Realtors (NAR), puts it:
“The pandemic has confirmed to all of us in the industry that technology will continue to transform real estate.”
Below is a closer look at some of the new tools real estate professionals are using to better serve sellers.
New and Existing Technology Are Impacting the Process
In the 2021 Realtor Technology Survey, NAR asks real estate professionals their opinions on the most valuable pieces of technology for their business over the past 12 months. The graph below highlights the top five tools those agents said are true game-changers:Tools that allow agents to serve clients at a distance and limit exposure to others, including eSignature, lockboxes, and video conferencing, became increasingly important during the last year. Those same tools are just as essential today. Restricting the number of people a seller must interact with during the process is the best way to keep all parties involved in a sale safe.
Trusted Advisors Stay Up to Date on Guidelines for In-Person Showings
As things change in our day-to-day lives, the guidance on how to stay safe changes as well. NAR regularly updates the resources available to real estate professionals to ensure the latest recommendations and best practices are readily available. This includes suggestions on how to continue to conduct safe in-person showings.
Agents also follow guidance from the Centers for Disease Control (CDC) to make sure homes are safe. The CDC’s advice includes information on how to clean high-touch surfaces like doorknobs, tables, and countertops so they’re disinfected for all.
This past year changed the way agents do things for the better. Real estate professionals use new technology, tools, cleaning procedures, and the latest guidance to meet your changing needs. The goal is to keep you safe and build your confidence throughout the sales process.
Bottom Line
It’s important to know that your safety is still a top priority when it comes to selling this year. Let’s connect today so you can have the best tools available to help you take advantage of today’s sellers’ market.
Firstly, any Millennial and First Time Home Buyers are lost when it comes to Real Estate. Trying to Figure out the Real Estate Market can be daunting. Especially the current one we are in. Secondly it takes a Team to get you the Home You Want!
We Specialize in Helping First Time Millenials Buying Real Estate
Finding a home is tedious, when the average days on market is only 14. This is why the McLain Realty Team specializes in working with Millenial Home Buyers Minds are at Ease. Our Team gets buyers the home they want and at the Price and Terms they want. But that is not all. Finally, we offer our Exclusive Program. Our 2 Year Love It or Leave It Guarantee! When a Millenial Home Buyer purchases a home through our team, and doesn’t love it, we will buy it back or sell it for free!* Our goal is to provide you with the information you will need to make the best decision for you in regards to homeownership. We will break down the myths and stereotypes that have long been believed to be true. We also will shed light on the opportunity you have to build wealth using your monthly housing cost.
Call us Today is you are feeling lost.
McLain Realty Team of RE/MAX 365 John McLain-Owner 908-878-9356
At RE/MAX 365 We cover the entire state of NJ from Cape May to Bergen County!
What I Need to Sell my Home During the Coronavirus
Firstly, every day that passes, people have a need to buy and sell homes. Especially if they are wondering what if I need to sell my home during the pandemic. It has not stopped during the current pandemic. If you’ve had a major life change recently, you may be in a position where you need to sell your home. And Fast! While you probably feel like timing with the current pandemic isn’t on your side, that is false. Making a move is still very possible. Rest assured, with our technology at your side and fewer sellers on the market, you can list your house and make it. Most Importantly make it happen safely and effectively. Especially when following the current COVID-19 guidelines. Furthermore these were set forth by the National Association of Realtors (NAR) and the Centers for Disease Control and Prevention (CDC).
You may have a new baby, a new employment situation, or you just built a home that’s finally ready to move into. Maybe even some other major part of your life that has changed in recent weeks. Buyers have those needs too! You can rest assured that someone is likely looking for a home just like yours.
According to the NAR Flash Survey: Economic Pulse taken April 5 – 6, real estate agents indicate, not surprisingly, that there’s a noticeable decline in current homebuyer interest. That said, 10% of agents stating in the same survey that they saw no change or even an increase in buyer activity. So, while buyer interest is low compared to normal spring markets, there are still buyers in the market. Don’t forget, you only need one buyer – the right one for your home.
Here’s the other thing – people are spending a lot of time on the Internet right now. Buyers are actively looking at homes for sale online. Some of them are reaching out to real estate professionals for virtual tours and getting ready to make offers. Homes are being sold in many markets.
There Is Less Competition Right Now , so What I Need to Sell my Home During the Coronavirus
Furthermore, 56% of home sellers are removing their homes from the market. This can definitely work in your favor. Although other sellers are removing their listings, your home has a better chance of being notived. Keep in mind, listings will pick up again soon. This is because 57% sellers are only planning to delay the process. If you need to sell right now, don’t wait for the competition to get back in!
Delayed listings from the typically busy spring season will push into the summer months, so more competition will be coming to the market as the pandemic passes. Getting ahead of that wave now might be your biggest opportunity.
The McLain Realty Team can Help Selling your home during the Pandemic
Furthermore, our Real estate team is working hard every single day. Under traditional circumstances, utilizing technology to help both buyers and sellers who need to continue with their plans.
We’re using virtual tours to show homes currently on the market
We are holding Online Virtual Open Houses
We constantly stay connected with the buyers and sellers through video chats, leveraging resources to complete transactions electronically.
Most Importantly, we’re making sure the families we support remain safe especially as life is changing so rapidly.
Finally, homes are still being bought and sold in the midst of this pandemic. If you need to sell your house and would like to know the current status in our local market, let’s work together to create a safe and effective plan that works for you and your family.
Firstly, the number of building permits issued for single-family homes is the best indicator of how many newly built homes will begin to come to market over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Construction Report, the number of building permits issued in January was 1,551,000. This is a 9.2% increase from December.
How will this impact buyers?
New inventory means more options. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR),explained how this is good news for the housing market – especially for those looking to buy:
“More construction will mean more housing inventory for consumers in the later months of this year…Spring months could still be quite tough for buyers since it takes time to convert housing starts into actual housing completions.”
How will this impact sellers with New Construction Homes in NJ.
More inventory means more competition. Yun continues to say:
“As trade-up buyers move into these newly completed homes in the near future, their existing homes will be released onto the market.”
Today, because of the tremendous lack of inventory, a seller can potentially anticipate:
A great sale price on their house as buyers engage in potential bidding wars.
A quick sale as buyers have little inventory to choose from.
Fewer hassles as buyers want to smoothly secure a contract.
If you’re considering selling your house, you’ll want to list sooner rather than later. This way, you’ll get ahead of this new competition coming to market and ensure the most attention toward your listing and the best price for your house.
Sell your home faster, with the McLain Realty Team
When selling your house, there are a few key things you can prioritize to have the greatest impact for a faster sale:
1. Make Buyers Feel at Home
Declutter your home! Pack away all personal items like pictures, awards, and sentimental belongings. Make buyers feel like they belong in the house. According to the 2019Profile of Home Staging by the National Association of Realtors, “83% of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home.”
Not only will your house spend less time on the market, but the same report mentioned that, “One-quarter of buyers’ agents said that staging a home increased the dollar value offered between 1 – 5%, compared to other similar homes on the market that were not staged.”
2. Keep It Organized
Since you took the time to declutter, keep it organized. Before buyers arrive, pick up toys, make the bed, and put away clean dishes. According to the same report, the kitchen is one of the most important rooms to stage in order to attract more buyers. Put out a scented candle or some cookies fresh from the oven. Buyers will remember the smell of your home.
3. Price It Right
More inventory coming into the market guarantees there will be some competition. You want to make sure your home is noticed. A key to selling your house is ensuring it is Priced to Sell Immediately (PTSI). This means you’ll be driving more traffic to your property, and ultimately creating more interest in your home.
4. Give Buyers Full Access
One of the top four elements when selling your home is access. If your home is available anytime, that opens up more opportunity to find a buyer right away. Some buyers, especially those relocating, don’t have much time available. If they cannot get into the house, they will move on to the next one.
Bottom Line
If you want to sell your home in the least amount of time at the best price with as little hassle as possible, a local real estate professional is a useful guide. Let’s connect today to determine what you need to do to sell your home as quickly as possible.
Many sellers believe spring is the best time to put their homes on the market because buyer demand traditionally increases at that time of year. What they don’t realize is if every homeowner believes the same thing, then that’s when they’ll have the most competition.
So, why sell your home this Winter? Less competition.
Housing supply traditionally shrinks at this time of year, so the choices buyers have will be limited. The chart below was created using the months supply of listings from the National Association of Realtors.As you can see, the ‘sweet spot’ to list your house for the most exposure naturally occurs in the late fall and winter months (November – January).
Temperatures aren’t the only thing that heats up in the spring – so do listings!In 2018, listings increased from December to May. Don’t wait for these listings and the competition that comes with them to come to the market before you decide to list your house.
Added Bonus: Serious Buyers Are Out in the Winter
At this time of year, purchasers who are serious about buying a home will be in the marketplace. You and your family will not be bothered and inconvenienced by mere ‘lookers.’ The lookers are at the mall or online doing their holiday shopping.
Bottom Line
Finally, If you’ve been debating whether or not to sell your house and are curious about market conditions in your area, let’s get together to determine the best time to list your house.
Ask for more Information in regards to Listing your Home for Sale This Winter with #REMAX365 #McLainRealtyTeam
RE/MAX 365 John McLain McLain Realty Team REMAX365NJ@Gmail.com NJGUARANTEEDSALE.COM
