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Could The Market Be Getting Better For Homebuyers?
Some trends point towards a buyer’s market heading our way.
There’s no doubt that we’ve been experiencing a seller’s market. As low mortgage rates and skyrocketing rent costs drive more and more Americans to buy homes even as the national housing inventory has stayed relatively tight, sellers have had the opportunity to sell their homes quickly, and for a notable profit.
The tides could be changing, though. Trulia recently calculated how long it takes for homes to sell and found that 63 percent of homes listed early in the summer were still on the market two months later. This is an increase over the 61 percent last summer posted.
What does this mean? It could hint that the market is slowing down, which would be great news for would-be homeowners who’ve been scrambling to get into homes in the face of competition from other buyers.
Ultimately, the fact that some homes are lingering on the market doesn’t necessarily mean that all buyers will have an easier time, though. Specifically, California buyers can still expect a fast-paced market since the Golden State boasts 5 of the top 10 fastest housing markets. That doesn’t mean that we won’t see a gradual shift towards a buyer’s market, but it does mean it could take a little longer for it to reach our particular portion of the West Coast.
Whether you’re buying or selling in the local market, it’s important that you have an ally on your side to make sure you make the most of your real estate process. For expert insight into local luxury real estate and top-tier service, contact me, Betsy Dittman. I’m dedicated to helping homebuyers and sellers in Beverly Hills and Los Angeles bring their real estate dreams to life in 2015.
5 Selling Mistakes That Will Leave Buyers Feeling Cold
In order to sell your home for full asking price, you must ensure that it is in move-in shape. How do you determine whether or not your home is in move-in condition? We have compiled a list of 5 things that can leave potential buyers feeling cold. Here are 5 Selling Mistakes to avoid:
- Overpriced. If your home is priced too high, you will not attract any buyers at all! Buyers will notice that they could find a better home for the same price. Price your home correctly the first time in order to prevent turning them off of your home before they even see it.
- Smelliness. There are a number of circumstances that could result in funky smells throughout your home. Pets may leave your home smelling like a litter box. Water damage can make your home smell like mildew. Regardless of the cause, a buyer will be completely uninterested if the home has an undesirable odor.
- Messiness. If your home is full of clutter, a buyer will have difficulty seeing your home’s structure. It will be hard for them to picture their furniture in the home if your possessions are everywhere.
- Numerous repairs needed. If you neglect basic home maintenance, then buyers will continue on to the next home on their list. No one wants to spend time fixing multiple problems around the house upon move-in.
- Out-of-date furnishings. If a buyer is looking to buy your home instead of a new one, it is probably because of the location and cost. Therefore, they are not interested in a dated home- just the perks that come along with one. Get rid of the popcorn ceilings, shag carpeting, and avocado green before having a showing.
We want your home to see as much financial return as possible. If you want your home to sell for full asking price, contact the skilled real estate professional, Betsy Dittman. Betsy will ensure that your home will sell for the highest price possible in the Westside, San Fernando, and Conejo Valley communities!
