How the Housing Market is Shifting and Why These Things are Important

If you follow real estate, you likely know that sellers have had their fair share of success in recent years; however, some situations suggest that a housing market shift is upon individuals. In the event that you’re thinking about putting your house up for sale soon, keep some information in mind to help yourself succeed in a market that is favoring buyers. 

Considering Realistic Pricing 
When you first bought your current home, you may have had dreams of seriously increasing the price of the house, eventually selling and walking away with enough money to pay for a new house and a vacation home. While you can certainly still make a decent amount of money on your home, keep your expectations realistic. Pricing your house too high can lead to more than one problem. Remember that people often scout out houses online before they go to check them out in person. If the cost attached to your house is too high, they may never come to see the property in the first place. 
Another issue is that your house may remain on the market for a long time. When prospective buyers see that the cost is out of their budget or that the price does not match the condition and style of the house, they are likely to turn to other homes that have better prices. Even in the case that you lower the price down the road, individuals browsing the market may wonder why your home has been for sale for so long. They might assume that serious problems exist and pass on the property for another one. 
Setting a reasonable price also helps you to keep realistic expectations and to plan appropriately for your next purpose. You don’t want to spend all of your money before you even make it. 

Examining Comps 
One of the best ways to deal with the housing market shift is to examine comps. To examine comps means to look at other houses in the neighborhood that are similar to your own and to see how much they have sold for and are up on the market for. Remember that comparing houses is more than just looking at the exterior of them. You need to take into account how big the house is, what the layout looks like, how large the property itself is and what condition the house is in. You also must factor in upgrades, such as a new kitchen, increased electrical amps or an updated heating system. Working with a real estate agent is a smart way to know which houses are true comparisons for your own. 
You can also look at comparisons with houses that have recently sold and that are currently on the market. Looking at comparable houses that have sold in the near past helps you to see what buyers are willing to pay for a home like yours. Make sure to look at the current homes on the market too. If your house is virtually identical to one that is for sale at a lower price, you may need to think about bringing your price down. On the other hand, if the cost of that house is higher, you may have the ability to raise yours, or you may find that your house sells more quickly. 

Staging the House 
You want potential buyers to feel as though they can see themselves and their families living in the house, and recognizing the importance of staging is one way to accomplish this goal. To stage a house is to set it up in a way that is more designed for every person as opposed to your specific family and to your specific styles and tastes. In other words, you may need to remove family photos and other personalized touches from the walls. 
Understanding the importance of staging may also involve repurposing rooms. For example, imagine that you have a three-bedroom house. However, you currently use one of the bedrooms as a dining room or a den. A three-bedroom house is often a popular buy, so you may not want it to seem as though you have only two bedrooms in the house. For the purposes of staging, you may need to turn that dining room or den back into a bedroom. Living through a staged house can seem difficult. In other words, you may struggle to keep the house looking pristine at all times. If this scenario sounds like yours, consider if moving in with relatives is an option so that you can leave your home perfectly staged. 

Trusting Your Agent 
The ability to trust agent experience is one area where you may struggle. You may feel as though you know your house the best and that you know what needs to happen in order to sell it. However, you must keep in mind that your real estate agent is an expert in selling houses. Ultimately, you do need to feel comfortable about the decisions that you are made, but you also want to make informed decisions. Real estate agents can provide you with the appropriate knowledge and guidance to make those decisions. 
When you can trust agent experience, you can also get a stronger sense of what the market is currently like. Although a shift is coming into fruition, situations vary in different parts of the country. While knowing the large real-estate happenings is important, so is understanding what is going on in your specific neighborhood. A real estate agent from the community can help you to have that powerful insight. This information assists when it comes to looking at comparable houses and in knowing what the competition is currently like. Working with a reputable agent and trusting that individual can make the experience more beneficial overall. 

As the housing market shifts, you may need to readjust your plans a little bit when it comes to how to specifically tackle the process. By taking these strategies into consideration and following the guidance of a professional real estate agent, you can have a more positive experience.

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