There’s little doubt, the island housing market is on fire! Low-interest rates combined with increased demand due to home quarantines and a virtual workforce, have resulted in record real estate sales. But now there’s a record low number of homes to sell. Don’t let false assumptions keep you from reaching your home buying or selling goals, now or in the future.Here are some common myths about what’s happening in real estate right now and tips on how to sell when you make that listing decision.
Myth: Buyers are waiting to enter the market. Record-low mortgage rates mean it’s a great time to purchase a home, and buyers are actively engaging in the market. The island market is dynamic, changes daily, and demand remains at record highs.
Myth: Fall is the wrong season to sell. You’ve probably heard that it’s better to list in the spring or summer. But this fall is a seller’s market — and a highly active one at that.
Myth: Home prices are decreasing. Every community both on the island and in neighboring Bluffton and Beaufort communities saw steady price increases beginning in March, 2020. In larger markets, every metro region saw price growth this year, with trends outpacing expectations. In fact, historically low mortgage rates could allow people to afford higher-priced homes, encouraging them to buy now.
Myth: You won’t be able to show your home. You can show your home safely by following the recommended precautions. Virtual home tours and private showings are also options and Hilton Head REALTORS routinely transact sales via FaceTime, Skype and 3-D Virtual Tours.
Myth: The real estate market is going to crash. It’s a common concern, but what’s happening today is different from the financial crisis of 2008. Experts are optimistic, as the economy remains fundamentally strong. The housing market looks solid for the foreseeable future, and there is no reason to abandon your plans.
HOME SELLING TIPS
Find a great real estate agent. Your real estate agent should be someone you feel comfortable working with, whom you trust to sell your house for top dollar and who knows the market profoundly.
Consider your curb appeal. For better or worse, buyers will judge a book by its cover. You want to make sure your home’s first impression is a good one. Consider new plantings, repainting your front door, cleaning gutters, blowing off the roof and an exterior soft wash.
Declutter and depersonalize living areas. Less is definitely more when it comes to getting your house ready to show. Remove personal pictures, your grandmother’s knick knacks and countertop odds and ends. Repaint walls to a neutral color. The buyer wants to see a clean landscape and envision their own belongings in your space.
Touch up any nicks and scuffs and fix any loose handles. Selling a home with lots of little problems and small repair needs paints a picture of a home that has not been maintained. It can be difficult to sell and always results in a lower price.
Deep clean, and then clean again. Sounds simple but clean is king when selling a home. Conduct a smell test. Bad smells are often unnoticeable to owners and even slight ones can be a deal breaker. Change out filters and vents, check the kitty box and address all the dust and dirt. Present your home to the market as you imagine your next home will be for you – almost perfect!
By Lynne R. Anderson
(REALTOR, Accredited Buyers AgentSea Pines Real Estate at the Beach Club)
