Summer Sale Tips and Tricks in Ann Arbor

185888536Spring and summer alike bring Ann Arbor residents outside to enjoy the weather and kiss the long winter goodbye. Selling your home this summer is not only a good decision due to market conditions, but also because more foot traffic occurs during the summertime. Kids are out of school and families prefer to relocate during this time before school starts. Keep in mind that even though this is a seller-friendly market, you still need to keep your home in tip-top shape in order to sell. Follow our tips below in order to create a summer friendly home for incoming buyers. 

Keepin’ it Cool

Prospective buyers are usually ready to buy and buy quickly in the summer due to relocation and wanting to buy before the school year. This means that little things will either win them over or turn them away, due to how quickly they need to make a decision. Make it easy for them to choose your home by creating a comfortable and cool summer atmosphere. Adjust your air conditioner so the temperature is more comfortable inside than outdoors, or use portable fans to increase air flow. The point is to keep the air inside circulating so your visitors will want to take time to explore your home and its features.

Going Green and Staying that Way

Make your home look welcoming and warm by keeping the lawn mowed and trimming shrubs. A simple trick to add dimension to your front yard is to cut your lawn on the diagonal. Plant flowers to give your property an inviting appearance. This maximizes the curb appeal and creates interest.

Bright Whites

You want to show off your home to its full potential and in order to do so, the lights should be kept on. Another way to brighten up your home is to re-paint in neutral tones or whites. This is an easy fix that does double duty to brighten up your home and create a clean palate for buyers to make their home. If you have heavy drapes, remove them since they make a room look smaller. Pull-up blinds or use tie-backs to let in more sunlight in.

Summer Decor

If you have painted the walls neutral colors or whites then a great way to bring in some color is through accents such as pillows, bowls, flowers or picture frames. Just a pop of color goes a long way and an easy way to incorporate natural tones is placing house plants throughout. Blues and greens go well with neutral tones and create a serene atmosphere for incoming buyers. Sheer curtains and textured throw pillows can add emphasis to any room. Combining other elements such as mirrors to add more light and new patio furniture for summer entertaining make the home more welcoming.

Flexible Summer Schedules

In the summer even though children may be out of school, the parents will necessarily have all the time in the world to look at homes. Everyone from incoming grad students and professors to relocating families and young professionals has schedules all over the board. Ready yourself for this by creating a short-notice plan. This plan will include a system as to what to do when you have the opportunity for a last-minute showing and will include where to stash kids or pet toys for example. Pre-planning and organizing your home will allow for these situations. Some buyers schedules make it necessary to look at homes at twilight or later in the evening after dinner, so be flexible about scheduling showings. Most buyers feel much more comfortable if the owner isn’t around so make that happen as much as possible.

Selling your home this summer will be a breeze if you take the right steps. If you and your agent have priced the home wisely, prepared your curb appeal and made necessary updates, you are well on your way to selling your home. Make sure to not forget the little details mentioned above, because in the end, they make all the difference. If you have more questions about selling your home this summer, please don’t hesitate to ask. Our Definitive Guide to Selling Your Home is also an excellent way to fill in the blanks of the selling process.

How to Sell Your Home

4 Reasons Why Springtime is for Sellers

Why is Springtime 2014 for Sellers?

When selling a home, many people obsess about curb appeal or paint colors to boost home value, but these things are trivial when compared to the real determinate of value: time. Experts in real estate across the United States say the outlook for home sellers is highly positive this spring, and Ann Arbor leads the way. With the price of homes increasing along with new rules for borrowers, buyers are anxious to purchase quickly. If you’re thinking about selling your home, now is the time. 

Ann Arbor Homes for Sale

1. Rising Home Prices

The average residential price in Ann Arbor jumped 22 percent from last year. This time last year the median price was $227,500 and rose to $240,000. The residential property assessments and taxable values for 2014 increased the average home values for a 6.1 percent rise from springtime of last year. In other words, prices are rising and you have a much better chance this year of getting a price you are pleased with over last year.

2. Low Inventory

A drop in available houses for sale has buyers in a scramble to find the right house. This trend will start to decrease sales, not because there are no home buyers, but because there are no homes to buy. Inventory usually begins to rise in January and February; however, this year it’s down 22 percent since March. The harsh winter could have prevented sellers from listing, which is causing a shortage of homes. The number of active buyers waiting for the right home far outnumbers the available homes for sale.

3. New Mortgage Rules For Borrowers

The Consumer Financial Protection Bureau issued new mortgage rules in January 2014 that are meant to decrease the risk of defaults and foreclosures. Home buyers must now prove they have the income and assets to afford the payments for the life span of the loan. The average rates for a fixed 30-year loan are predicted to rise 5.5 percent by the end of 2014, and this makes it more difficult for home buyers to meet the financial requirements to purchase their dream home. The good news is you now know you are working with serious buyers who are financially ready for the process.

4. Home Buyers are Eager to Purchase Now

Buyers aren’t competing with investors this year and find themselves left with prices that are increasing steadily. Locally and across the United States, buyers are looking to beat the rising prices. Household incomes are at a standstill, so buyers want to purchase a home sooner rather than later. With more buyers than homes for sale, the time your house remains on the market is an average of 60 to 130 days.

With inventory down, buyers are finding it difficult to locate the home of their dreams. They are paying higher prices the longer they wait. Property values and prices are up and the real estate market is saturated with more buyers than sellers. The forecasting firm Capital Economics predicts the price gains will slow four or five percent this year.

Since there is still low inventory and prices remain higher, the time to sell really is now. There is less competition and a high demand for the homes on the market. If you are interested in listing your home or hearing more information about the Ann Arbor real estate market, please do not hesitate to contact us. If you are still researching, feel free to check out our Definitive Guide to Selling Your Home.

How to Sell Your Home