Trends in real estate fluctuate due to various factors. Think back to 2009, there were more foreclosures in the USA then there were marriages!
Now depending on the market, you are in, your property might sell before it even hits the MLS, or it may still take up to 6 months to sell. Where ever you live, and whatever the trends are here are some interesting facts to consider.
Trends from 2017 that will continue into 2018
In 2017 thirty-three percent (33%) of people who purchased a home last year made an offer first without seeing it in person. This is according to Redfin. Home prices appreciated in most markets although mortgage rates rose slightly. The predicted rise varied from Redfin and Zillow but the good word is there was appreciation over the year prior. The supply of houses was tight, which helped reduce the average days on the market; although a buyer is still choosy.
With these current trends in real estate, it proves that over 90% of buyers are looking online first before they even venture into a house. With the onset of 3D viewing online, the impact online marketing has on a property has helped to sell a property even faster. The first impression made online ensures the property needs to stand out above the competition. If it does not present well, buyers will move on. How do you grasp the attention of today’s buyer with online marketing?
Staging; an image is important to today’s buyers. Buyers want to see how they will live in the house. They are not interested in looking at a house that was like their “parents, or decorated like my parents’ house.” They want to see the house laid out as their own. A house that is staged first, will have perceived value. Value not only based on price but what creates the value including location, amenities, condition, and styling of the house.
From The Next Web, George Beall states “the best agents differentiate themselves by specializing and paying attention to the small nuances that most others leave out. The little things matter, whether you are selling a multi-million dollar mansion or small condo actually makes a big difference in how you want to present the home.” According to NAR over 77% of buyers find it “easier to visualize a property as their future home if it is staged”
If you are planning on selling due to the upturn in the market, consider paying attention to the small details. A little décor fact to go along with the real estate trends; Inman stated brass doorknobs disinfect themselves. Brass is one metal that is antimicrobial and kills bacteria! So change out your doorknobs to real brass, the details matter. A property needs to be perceived of high value; for a buyer to make a strong offer, whether they have only seen it online, or in person.
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