Home Sellers Guide Spring 2024

This Spring 2024 edition of the Home Sellers Guide seasonal series, includes many tips such as Should You Sell Your House This Spring,Your Home Equity Can Be a Game Changer When You Sell, 2 Must-Do’s When Selling Your House This Spring, Key Reasons To Hire a Real Estate Agent When You Sell, and much more.

Take a look at what is inside in the Home Sellers Guide Spring 2024 and order yours today. It is FREE!

What is inside the Home Sellers Guide Spring 2024

SHOULD YOU SELL YOUR HOUSE THIS SPRING?

With all the changes in the housing market recently, you might be wondering if it’s a good time to sell your house. Here are some common questions you might have, along with answers to help you make a decision you feel good about.

1. Is There Demand for My House?

If you’re worried there won’t be a lot of buyer demand this spring, don’t be. Mortgage rates have trended down since last fall and that’s led more buyers to re-enter the market. That means there’s still plenty of demand today — and that demand may get even stronger if mortgage rates keep falling. So, you may still see buyers competing over your house this spring.

1. Is It Worth It To Sell Now?

The supply of homes for sale is still low, so we’re still in a seller’s market right now (see graph below). With more buyers than homes today, they crave more options, and your house will stand out. And though still low, inventory has grown a little bit recently, which means you may have more options for your own home search. The graph below puts today’s inventory into perspective.

1. Are Home Prices Going Down?

Recent data shows home prices are still on the rise in many parts of the country. And while prices vary by market, experts project they’ll continue to rise at a more moderate pace in the years ahead.

So, with prices appreciating today, you can still sell with confidence this spring.

2 MUST-DO’S WHEN SELLING YOUR HOUSE THIS SPRING

If you’ve been holding off on selling your house to make a move because you felt mortgage rates were too high, the fact that they’re down from their peak last fall is exciting news for you.

Here are two reasons why lower rates, and the expectation they’ll decrease further, is such good news for you.

1. You May Not Feel as Locked-In to Your Current Mortgage Rate

With mortgage rates lower than they were just a few months ago, you may feel less locked-in to the current mortgage rate you have on your house. When mortgage rates were higher, moving to a new home meant possibly trading in a low rate for one up near 8%.

1. More Buyers Will Be Coming to the Market

According to data from Bright MLS, the top reason buyers have been waiting to take the plunge into homeownership is high mortgage rates (see graph below):

The current Vero Beach real estate market is still active and buyers are still looking for a home in Vero Beach. Get the latest Vero Beach market insights here

YOUR HOME EQUITY CAN BE A GAME CHANGER WHEN YOU SELL

Are you on the fence about selling your house? While affordability is improving this year, it’s still tight. And that may be on your mind. But understanding your home equity could be the key to making your decision easier.

In the past few years, home prices skyrocketed, which means your home’s value – and your equity – likely shot up, too. So, you may have more equity than you realize.

Homeowners have a lot of equity right now. And the latest data from the Census and ATTOM shows over two-thirds of homeowners have either completely paid off their mortgages (shown in green in the chart below) or have at least 50% equity (shown in blue in the chart below):

That means roughly 70% have a tremendous amount of equity right now.

KEY REASONS TO HIRE A REAL ESTATE AGENT WHEN YOU SELL

If you’re thinking about selling your house on your own, called “For Sale by Owner” or FSBO, there are some important things to consider. Going this route means taking on a lot of responsibilities by yourself – and that can be a bit of a headache.

A recent report from the National Association of Realtors (NAR) found two of the most difficult tasks for people who sell their house on their own are getting the price right and understanding and performing paperwork. Here are just a few of the ways an agent helps with those difficult tasks.

• Getting the Price Right

Setting the right price for your house is important when you’re trying to sell it. If you’re selling your house on your own, two common issues can happen. For starters, you might ask for too much money (overpricing). Alternatively, you might not ask for enough (underpricing). Either can make it hard to sell your house.

To avoid these problems, it’s a good idea to team up with a real estate agent. Real estate agents know how to figure out the perfect price because they understand the local housing market. They can use their expertise to set a price that matches what buyers are willing to pay, giving your house the best chance to impress from the start.

• Understanding and Performing Paperwork

Selling a house involves a bunch of paperwork and legal documentation that has to be just right. There are a lot of rules and regulations to follow, making it a bit tricky for homeowners to manage everything on their own. Without a pro by your side, you could end up facing liability risks and legal complications.

Real estate agents are experts in all the contracts and paperwork needed for selling a house. They know the rules and can guide you through it all, reducing the chance of mistakes that might lead to legal problems or delays.

For more information on how to sell your Vero Beach house in today’s real estate market, get a copy in this FREE Spring 2024 Sellers Guide by completing the form below.