Sellers Market

Mar. 19, 2014 | Written by: Lori

According to the Flint Area Association of REALTORS® (FAAR) houses in our area are selling for 31.11% more this February as compared to sale prices in February of 2013. On the down side, the number of active listings has declined by 147 houses when compared to the market in February 2013. You could say it’s a seller’s market.

A seller’s market is one in which there are more buyers trying to buy homes than there are homes for sale. If you are thinking about selling your home, now is a great time. However, just because there are a lot of buyers out there, doesn’t mean a seller should get complacent. As always, a seller must make their house as attractive as possible and know what buyers are looking for in order to get the best offer, perhaps competing offers.

Here are just a few trends that today’s buyers find appealing according to an article in the Huron Daily Tribune on Michigansthumb.com:

·        Energy efficient features such as good insulation, efficient appliances and programmable thermostats are always a plus but there are many other cool features that add value. Energy efficient skylights bring natural light and ventilation to rooms that may otherwise feel drab. Adding remote control blinds to skylights adds even more efficiency. Another great investment is a solar powered water heater, especially for those in warmer climates.

·        Bigger is not always better. Many buyers are downsizing and looking for smaller more cost effective homes with open rooms that serve multiple purposes. The smaller mortgage payment is an obvious plus as well.

·        Older buyers may be looking for homes in which they can age gracefully, so to speak. Single level homes or homes where there’s a bedroom on the ground floor are appealing. Open floor plans with a lot of maneuverability, including larger bathrooms with walk in showers, are helpful to an aging population. Fixtures that are touch activated are also useful.

Obviously each buyer has different wants and needs when it comes to purchasing a home. Don’t worry if your house doesn’t have the features listed above. If you’re in the market to sell your home, give ChangingStreets.com a call today and our agents will help you prepare your home in the most optimal light so that you will attract the best and most qualified buyers.

 

 

(Sources: “Monthly Housing Statistics”, March 2014, Flint Area Association of REALTORS®, http://www.michigansthumb.com/online_features/real_estate/article_55e45176-61ba-5bdc-ad88-e9aa9e360ff9.html)

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