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Selling a Home in 2024? Here’s How to Succeed
Believe it or not, the Spring real estate market is right around the corner and many people who were on the fence about listing their homes in 2023 are now ready to make a move. However, with the new year comes new market trends. Here’s some information anyone looking to sell a home in 2024 should be aware of:
Buyers are Ready to Buy Again
In 2023 the real estate market saw a decline in buyers. This was mainly due to higher interest rates and growing inflation. But now that the dust has settled, many buyers are ready to purchase a home this year. For sellers, this means more competition…and perhaps bringing bidding wars back into the mix! Many real estate experts are already seeing the trend of more competitive offers. If you are seller, be ready to have some leverage in your corner this year!
Put in the Work to Get Your Home Show Ready
Last year there weren’t as many houses on the market. That meant buyers had limited options and were more willing to purchase a home that needed work. In 2024 with more predicted sellers on the market, competition is going to heat up. This means buyers can afford to be pickier. So, for sellers, now may be a good time to make some strategic upgrades or improvements before you list your home. These small fixes can lead to your house not getting overlooked once it hits the market.
Here are some simple fixes that can lead to big results:
- Light fixture updates
- Hardware updates
- Landscaping updates
- Bathroom and kitchen updates
- New flooring
- Upgraded appliances
Bring on the Negotiations
With less buyers looking to purchase in 2023, sellers had to limit the amount of haggling or negotiations they could do when trying to close a deal. However, in 2024 more buyers means more room for negotiation!
This means if an offer comes in and it’s not quite the amount a seller is looking for, or the date to close doesn’t work with their schedule, they should work with their trusted real estate agent to push back and negotiate the deal. Chances are there will be more buyers eager to negotiate to get your home!
Selling Your Home Now Makes Sense
Last year we heard many potential sellers share they were scared they wouldn’t be able to afford their next home if they sold their current home. That had to do with interest rates and home prices. This year, the mentality is shifting among sellers that now is as good a time to sell as any.
Right now, interest rates are around 6.5% and expected to stay in that range. Also, the housing market isn’t too crazy with competition. As the year progresses, this competition level will change which is why it makes sense to list your house now at a good price and then go into being a buyer before everyone comes out of the woodwork to compete with you.
Whether you’re planning to sell or buy in 2024, it’s important you partner with trusted real estate experts to keep you informed and up to date on the latest market trends. Be sure you have a great real estate agent, lender and title company in your corner for when you’re ready to make a move!
Velocity Title Moves You Forward
Velocity Title supports the industry with a comprehensive line of title services that add value to each and every transaction. At Velocity Title, Our Personal Support Makes You Look Good Every Time! With a focus on the best CUSTOMER EXPERIENCE, Velocity Title incorporates leading title TECHNOLOGY and EXPERTISE into every transaction—enabling the final step in the home buying and investing process to be EASY, EFFICIENT and INFORMATIVE. For the perfect settlement experience every time, click here or contact us today!