Posts Tagged ‘spring market’

It’s that time of year again. The spring market is in full swing and crowds of buyers are fighting over their dream house—or at least the closest thing to it, considering this year’s nationwide inventory shortage isn’t leaving many options. So, what does that mean? For the most part, higher prices, more competition and a whole lot of bids.

Listings in good condition tend to get multiple offers this time of year, and buyers are putting forth their strongest submissions—cash offers, over-asking, fast closings, no contingencies, etc. But creativity is the name of the game in this year’s competitive market. Buyers are inspired to win over the seller’s emotional side. Here are the latest home-buying trends for beating out the competition in a swarming spring market:

Love Letters

While they’ve been around for a while, they’re getting a lot more popular, being used by buyers as a last-ditch effort to win via the seller’s emotional attachment to the home. Most letters talk about favorite design choices the seller incorporated, plans to raise the family and proclamations that the home is “the one” after a long and tough home search.

With so many letters delivered, buyers can’t risk being disingenuous. Oversharing or being too emotional can backfire. It’s best to get an idea of what type of person the seller is—emotional or data-driven—and what type of activities and hobbies they have in common before typing up or writing a letter.

If the sellers lived in the home for years and brought up their family in it, buyers can have their own kids craft letters on colorful paper with sloppy crayon-writing to tie in that connection. Or if the seller is an animal lover, buyers can talk about how the yard is a perfect place for their dog to run around. Including photos with the letter can make the process even more personal.

Letters usually tell the seller that the buyer is serious and willing to take care of the home. But some sellers may only focus on the numbers and terms. It’s a toss-up, but it doesn’t hurt to try.

Buyer-Crafted Videos

These are a little newer, emerging after YouTube’s digital push into vlogging, or video blogging. While they can come off as cheesy, they are a little more personal than handwritten letters, because sellers will feel like the potential buyer is talking directly to them.

And if buyers are feeling gutsy, and the seller has a more creative personality, this can be the perfect place to showcase unique talents while sharing their love for the home. Can the buyer sing? A quirky, original song about the home may just be the winning ticket. Does the buyer play the ukulele? It could be a fun twist that breaks the ice. Or maybe just a sit-down video with the buyers—talking directly into the camera to make it more conversational—is the winning choice.

According to REALTOR® Magazine, a couple recently won a bid on their dream home by making a music video to “Our House,” which just so happened to be the song the sellers sang to each other when they first lit the fireplace in their home. The connection instantly won the sellers over, beating out another offer that was $20,000 over the buyers’ submission.

The options are endless and it’s more important than ever to stand apart from the crowd.

Agents, what’s the most creative way one of your buyers won a bidding war?

Dominguez, Liz. “Submitting Creative Bids During the Spring Market Frenzy” RISMedia’shousecall.com. 26 Mar. 2018. http://blog.rismedia.com/2018/spring-maintenance-rental-property/

Looking to start the buying process and put in some offers of your own? Check out our agent page to find an experience buyers agent to help!

Filed under: Blog by Callie Smith
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As with every decision in life, there are pros and cons, and choosing when to sell a home is no different. There are many factors that need to be taken into consideration before deciding when to sell a home. Many homeowners believe selling a home during the fall or winter months is not a good idea and that the spring is the only time a house should be sold. This is the furthest from the truth. Certainly most real estate markets across the United States experience a “spring market rush” every year. There is no doubt that the “spring market” is a great time to be selling and buying real estate, however, the fall and winter seasons may be the best fit for you for many reasons.

Here are several reasons why choosing to sell your home now may be a better decision than waiting until the spring:

Less Competition

One way that you can tell the spring real estate market has arrived is by driving down a street in your local community. In all likelihood there will be For Sale signs up all over the neighborhood! One great reason to sell your home now and not wait until the spring market is there is sure to be less competition.  The fewer number of comparable homes for sale, the greater the probability that a buyer will look at your home.

Simply put, it’s the supply and demand theory. If there are less homes for sale, there are less homes that a potential buyer can choose from, therefore increasing the demand for your home. Not only will less competition increase the probability for showings, but it will also increase the probability that an offer will be received and you will get the maximum amount of money for your home.

Serious Buyers Are Out There

Homes are sold and bought 365 days a year, period!  Many homeowners believe that buyers aren’t out there during the fall and winter months. This simply is not the case. Serious buyers are always out there!  Some buyers may stop their home search because it is the fall or winter, but serious buyers will continue to look at homes, no matter what time of year it is.

The fall and winter months are also a great time for a potential buyer to see what a specific neighborhood is like.  Do your neighbors have pumpkins on their front step?  Are there lots of Trick-or-Treaters wandering the neighborhood on Halloween?  Do any of your neighbors have any light displays for the holidays?  There are buyers out there who will look at these types of things when determining whether your home is in the right neighborhood for them or not.

The Best Agents Are Always Up To The Challenge

Any real estate agent who tells you that the fall or winter months are a bad time to sell is not someone you want selling your home! A great real estate agent will know how to adapt to the current season and market their listings to reflect that.  A great real estate agent can make suggestions and give some of their tips on how to sell a home during the fall or winter seasons. If a real estate agent doesn’t have any suggestions on making your home more desirable for the current season, you should be concerned about the creativity they are going to use when marketing your home.

Staging For The Holiday Season

Many sellers believe staging a home is the main reason a home sells.  While staging certainly helps sell homes, some buyers have a difficult time envisioning themselves in a home no matter what you do. However, there are some buyers who can easily be “sold” on a home because it is staged.  Simple “seasonal” staging such as adjusting the color of the decor or having an aroma in the air that is relative to the time of year can go a long way with some potential buyers and possibly be the difference between a home selling or not.

Quicker Transactions

Right now, there are fewer real estate transactions than there will be in the spring.  The fewer number of transactions means the mortgage lenders have less loans to process, attorneys have less closings to do, and home inspectors have fewer inspections to do.  All of these factors should lead to a quicker transaction and closing for all the parties involved.  One of the most frustrating things for a seller to deal with while selling their home is not getting answers in a reasonable amount of time. A quicker transaction is going to be less stress for you.

Hiscock, Kyle. “Should I Sell My Home Now or Wait Until the Spring?”. RISMedia’shousecall.com, 6 Nov. 2014, www.blog.rismedia.com/2014/sell-home-now-wait-spring/.

Whenever you decide to buy or sell a home Sold Buy the Sea Realty is available any time to assist you in the process!

Filed under: Blog by Callie Smith
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