Laurie-Ann Webster January 5, 2023
A new year brings with it the opportunity for new experiences. If that resonates with you because you’re considering making a move, you’re likely juggling a mix of excitement over your next home and a sense of attachment to your current one.
The housing market shifted in 2022 as mortgage rates rose, buyer demand eased, and the number of homes for sale grew. As a seller, you’ll want to recognize things are different now and price your house appropriately based on where the market is today. Greg McBride, Chief Financial Analyst at Bankrate, explains:
“Price your home realistically. This isn’t the housing market of April or May, so buyer traffic will be substantially slower, but appropriately priced homes are still selling quickly.”
Today, homeowners are living in their houses longer. According to the National Association of REALTORS® (NAR), since 1985, the average time a homeowner has owned their home has increased from 5 to 10 years (see graph below):
This is several years longer than what used to be the historical norm. The side effect, however, is when you stay in one place for so long, you may get even more emotionally attached to your space. If it’s the first home you bought or the house where your loved ones grew up, it very likely means something extra special to you. Every room has memories, and it’s hard to detach from the sentimental value.
While you may love your decor and how you’ve customized your home over the years, not all buyers will feel the same way about your design. That’s why it’s so important to make sure you focus on your home’s first impression so it appeals to as many buyers as possible. As NAR says:
“Staging is the art of preparing a home to appeal to the greatest number of potential buyers in your market. The right arrangements can move you into a higher price-point and help buyers fall in love the moment they walk through the door.”
If you’re considering selling your house, reach out to a local real estate professional to help you navigate through the process while prioritizing these best practices.
Experts are optimistic about what 2024 holds for the housing market.
You haven’t missed your chance to sell at a time when sellers are receiving multiple offers.
If you want to buy a home, you may not need as much for your down payment as you think.
There aren’t that many homes available for sale right now, your home’s asking price still matters.
Whether you're on the hunt for your next home or thinking of selling, now might be the perfect time.
Achieving the dream of having a home may be more within reach than you think.
Here’s one key data point that could help you feel more confident in making your decision.
Home prices are still rising, just at a slower pace – and that’s perfectly normal for this time of year.Â
It can be helpful to know what led other people to buy their first home to make that decision.
You will find Laurie Ann energetic, integrity driven, family oriented, and professional to work with. Laurie grew up on Cape Cod in Falmouth, MA and agrees that there is no place like Cape Cod!