Tips for Selling in Summer
Summer has traditionally been the best time to sell a home. Not only do many families take advantage of moving when the kids are out of school, but in climates where winter weather is unpredictable or severe, the warmer months make it easier to be away for showings. With more homes on the market, how can you maximize your potential for a great offer among the options? Fortunately, you can take a few steps to ensure your home stands out from the crowd.
Tips for Selling in Summer
- Control the Climate – The first thing a buyer will notice when they walk into a home is the temperature. If the weather is warm and humid, it’s critical you keep the home cool. A larger air conditioning bill is a small price to pay for a top dollar offer.
- Let in the Sun – It might be tempting to close the blinds to save money on air conditioning, but bright, sunny rooms are always more appealing; leave enough open to showcase natural light.
- Extend Outdoors – Today’s lifestyle includes the outdoor areas and more and more homes feature outdoor living and dining areas. Regardless of your home’s features, maximize the impact of your yard with furniture, BBQs and manicured landscaping.
- Spring Clean – A fresh, decluttered home with a lighter, seasonal color scheme will be visually appealing to your buyers. Replace dark pillows, linen and accents with softer colors which make the rooms seem larger.
The summer selling season is here. Make sure your home is dressed for success. Welcoming outdoor spaces and bright sunny rooms combined with inviting an air conditioned rooms will ensure you get the best possible offer.
How Appraisers Determine Value
Once a buyer and seller agree on a sales price, the contract is then sent to the lender for the
loan approval process. One of the first things the lender will do is to order an independent
appraisal. The appraiser will use local data to determine a value for the subject property. The
main purpose is to protect the lender in the event of borrower default by ensuring that the
property is actually worth what the buyer is willing to pay, but this also protects the buyer
from over-paying as well.
The process appraiser use to determine value is relatively simple. They start by searching for
local comparable properties which have closed recently. They choose the 2 or 3 which most
closely match the subject property and use them for comparison. Since these comparable
homes have closed recently, they are assumed to represent market value.
Once the appraiser has the comparable properties identified, they will then compare the
subject property to them. They will add or subtract value for size, location, amenities,
features, upgrades and so on until they have a value for the subject property. This is then
reported to the lender in the form of a final appraisal.
Advantages of Selling a Home This Winter
Home sellers and real estate agents often fear the winter months because it seems like a poor time to list. The truth is that winter can be a great time to list your home for sale.
Conventional wisdom tries to say that taking your home off the market in winter, or waiting to list, until the spring selling season starts is the best way to sell your home. The truth is that if you are trying to sell your home, wouldn’t you rather list while the competition is less?
With the end of the summer season, often homes are removed from the market, either because the sellers mistakenly believe they need to wait for the spring. But when listings flood the market in April, prices can go down as a “buyers’ market” takes hold and inventory increases.
Buyers in the winter also tend to be more serious about a home purchase. The holidays are a time to relax and enjoy family and friends. In real estate, studies show that if a buyer is out looking for a new home during these months, they have a reason to move, which tend to create better offers.
Home sellers can enhance their ability to capitalize on the slower pace and smaller inventory by listing their homes for sale now. Winter is the perfect time to get the highest possible sales price while the competition is drinking pumpkin- spiced latte and waiting for the spring.