Are you planning to sell your home this year? Here are some home selling tips that you should know for a successful sale:
Set the home price right
Setting the right price for your property is one of the foremost home selling tips that you need to follow. Beginning 2016, prices of properties will increase by 3 percent yearly. According to Realtor, prices of homes in Stockton, CA and Las Vegas, Nevada are expected to have an increase of 10 percent.
"Making the error of going for a price that's well above the market price is a recipe for being let down and potentially not selling the home at all," he adds. A home that sits on the market eventually will turn off buyers, who will suspect that something is wrong with it,"said Jonathan Smoke, chief economist for Realtor.
High mortgages
The Federal Reserve started mortgage rate increase beginning Dec. 2015, which would make homes less reasonably priced. Blog MLive reports that this trend should not be taken as a negative thing because as the economy gets better, the interest rates continue to get higher in the next couple of years. This is the right time to grab the opportunity to buy or sell your home.
List your house on the market during peak season
Placing your property on the market during peak season guarantees potential closing of sale. Peak months start from April to June when more buyers are searching for homes. With the large pool of buyers during these months, you get higher chances of selling your homes. It is one of the home selling tips that have been proven in the past.
Offering incentives for buyers
Last year was a hallmark for successful U.S. home sales as 37 percent of the sellers have given incentives to entice buyers. "The nature of this market is that you're going to have more first-time buyers, who are more dependent on financing,"Realtor's chief economist said. "Getting a loan is one thing; coming up with a chunk of cash for closing costs, on top of the down payment, is another."
