We are often asked what updates and remodels get sellers the most return. In today’s market, the conversation has shifted dramatically. Market sellers have to do very little, if anything, to recoup high profits in selling their homes.
Real estate values are soaring both locally and nationwide due to a lack of housing inventory, low interest rates, and rising new construction costs. It’s creating an imbalance between buyer demand and available housing, placing additional demand on existing home sales.
If this is tempting you to just sell your own home, think again. Even with these unprecedented sale values, sellers need to take the right approach — after all, you only get one shot at a first impression. The exposure a professional REALTOR® can provide is unmatched. Simply getting a single offer is no longer standard practice and as a seller there’s a lot at stake. The contracts I’m seeing are like nothing I’ve ever seen in our local market. Buyers are waiving inspection, appraisal, and contingencies, which are usually standard in a real estate contract.
We will help ensure success in your home-buying goals yet not compromise your long-term financial security. While mortgage rates are low, it’s easy to focus only on the payments, but consider your long-term connection with the home purchase price. When selling, you could find yourself upside-down on your market value if the value dips. Bottom line, ensure you are connected to the best professional REALTORS® in your market, whether you are buying or selling.