When a homeowner decides to sell their house, they obviously want the best possible price with the least amount of hassles. However, for the vast majority of sellers, the most important result is to actually get the home sold. I ask every prospective home seller I meet with, what they desire most in the transaction and the number one response I get is, “Results”.
In order to accomplish getting a home sold, a seller should realize the importance of using a real estate professional. We realize that technology has changed the purchaser’s behavior during the home buying process. For the past three years, over 92% of all buyers have used the internet in their home search according to the National Association of Realtors’ most recent Profile of Home Buyers & Sellers.
However, the report also revealed that 95% percent of buyers that used the internet when searching for a home purchased their home through either a real estate agent/broker or from a builder or builder’s agent. Only 2% purchased their home directly from a seller whom the buyer didn’t know.
Buyers search for a home online, but then depend on an agent to find the actual home they will buy (53%), or to negotiate the terms of the sale & price (48%), or to help understand the process (60%).
The plethora of information now available has resulted in an increase in the percentage of buyers that reach out to real estate professionals to “connect the dots”. This is obvious, as the percentage of overall buyers who used an agent to buy their home has steadily increased from 69% in 2001.
If you are thinking of selling your home, don’t underestimate the role a real estate professional can play in the process. It is important you know, that I am here to help and free to contact me anytime at (248) 939-9393.
In school we all learned the Theory of Supply and Demand. When the demand for an item is greater than the supply of that item, the price will surely rise.
The National Association of Realtors (NAR) recently reported that the inventory of homes for sale stands at a 4.4-month supply. This is considerably lower than the 6-month inventory necessary for a normal market.
Every month NAR reports on the amount of buyers that are actually out in the market looking for homes, or foot traffic. As of April, buyer demand has significantly outpaced the inventory over the last six months.
Many buyers are being confronted with a very competitive market in which they must compete with other buyers for their dream home (if they even are able to find a home they wish to purchase).
Listing your house for sale now will allow you to capitalize on the shortage of homes for sale in the market, which will translate into a better pricing situation.
Many homeowners underestimate the amount of equity they currently have in their home. According to a recent Fannie Mae study, 37% of homeowners believe that they have more than 20% equity in their home. In reality, CoreLogic’s latest Equity Report tells us that 72.6% actually do!
Many homeowners who are undervaluing their home equity may feel trapped in their current home, which may be contributing to the lack of inventory in the market.
If you are debating selling your home this year, our team of expert advisors can evaluate the equity you have in your home and the opportunities available in your market. It is important you know that we are here to help.
After 18 years of selling homes in Northville, Novi, South Lyon and surrounding Metro Detroit communities, I meet with dozens of home owners throughout the year and I am asked this question at almost every seller consultation.
Historically, your Summer months (May, June and July) are the busiest months of the year for transactions however we have a few other seasons in our marketplace. For the past three years, the month of October has been the second busiest month for real estate closings for our team and July has been the busiest. The weather plays a very big role in the early part of the year as we have experienced this past January with the unseasonably warm temperatures and this was the busiest month I have had in my professional career with almost 5 million dollars of sales. Before the peak selling season arrives in May, we always experience a “Pre-Selling Season” and this typically arrives in mid to late March as the snow tends to move out of the area and Spring begins to arrive.
I have always been a big advocate for beating the rush of home owners putting their home on the market in the peak season based on the supply and demand principle. We have been experiencing a sellers market for the past few years and the demand has been fairly consistent and when there is less inventory, and demand is high, I encourage home owners to list their home now to maximize their profit. Many of our sellers have been experiencing quick sales under one week and getting top dollar.
When it comes to the best day of the week to list your home for sale, I have seen that Thursday’s have been the best day of the week to list your home. Many home buyers, due to their schedule can’t get in to see a home till the weekend and by listing on Thursday, this allows your home to be distributed throughout the web and multiple listing system while saving a few days on the market giving an increased sense of urgency to buyers wanting to get in right away.
The bottom line is if your thinking of selling your home this year, please feel free to contact me for a no-obligation, private home selling consultation at (248) 939-9393. If your curious to get an estimate on what your current home value is, please visit http://www.HomeValueMI.com . It is important you know that I am here to help and look forward to putting 18 years of experience with over 150 million dollars of successful real estate transactions to your benefit.