May is the Best Month to Sell Your Home

According to a newly released study by ATTOM Data Solutions, selling your home in the month of May will net you an average of 5.9% above estimated market value for your home.

For the study, ATTOM performed an “analysis of 14.7 million home sales from 2011 to 2017” and found the average seller premium achieved for each month of the year. Below is a breakdown by month:

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ATTOM even went a step further and broke their results further to specific days that have historically been optimal.

Top 5 Days to Sell:

  • June 28th – 9.1% above market
  • February 15th – 9.0% above market
  • May 31st – 8.3% above market
  • May 29th – 8.2% above market
  • June 21st – 8.1% above market

It should come as no surprise that May and June dominate as the top months to sell and that 4 of the top 5 days to sell fall in those two months. The second quarter of the year (April, May, June) is referred to as the Spring Buyers Season, when competition is fierce to find a dream home, which often leads to bidding wars.

ATTOM noticed that while warmer climates share in the overall trend, it turns out that they have different top months for sales. The best month to get the highest price in Miami, FL, for instance, was January, and Phoenix, AZ came in with November leading the charge. In Tampa Bay, March kicks off the single family home selling season and selling heats up in May.

If you’re thinking of selling your home this year, the time to list is NOW! According to the National Association of Realtors, homes sold in an average of just 30 days last month! If you list now, you’ll have a really good chance to sell in May or June, setting yourself up for getting the best price!

Don't miss the boat! Contact me, Annette Lawrence, your local real estate professional. I can share with you the market conditions in your neighborhood and get the most exposure to the buyers who are ready and willing to buy during this most optimal time of the year!

The Simple Truth

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If it is not selling, it's not compelling.

It really is that simple.

If your home is not compelling or in alignment with what buyers are purchasing at a given price-point, your home will sit.

Not in alignment can mean outdated, not maintained, or too dark to name a few examples.

The great aligner for homes that are not compelling: Price.

Price allows for updating, repairing and brightening.

If you, as a home seller, have received two or more offers of $270,000 and “you will not take a penny less than $310,000”, it is time to stop fighting the market.

Take the home off the market, because, if you are honest with yourself, you really do not want or need to sell your home.

Stop wasting your valuable time playing “Seller”.

Stop blaming your Realtor because your home will not sell.

Stop listening to the “friend” you just met who tells you that “you are giving your place away”.

Stop convincing yourself that your home is worth as much as brand-new homes because you think your circa 1975 home is better built, and your corner lot should fetch more because it’s bigger.

If you are not getting three showings a week or one offer for every ten showings, your home is over-priced.

It is just that simple.

Overpricing is an expensive mistake that only hurts you. Yes, you. Your over-priced home creates un-needed stress for you and will ultimately net less money for you as days on market accrue.

So, get in the game and listen to your Realtor’s advice on pricing or take a seat on the bench and take a breather. (That is OK too.)

It really is that simple.

Importance of Financing Pre-Approval

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So, you want to buy a home and you keep hearing the same two commandments. 

1. Get a real estate professional to help you.

2. Get a pre-approval from a lender. 

Well, you have found your real estate professional - Annette Lawrence, Remax Realtec Group! Now you need the pre-approval letter!

As my father used to say, “Proper planning prevents poor performance.” This is sage advice for home buyers who need to lay the necessary groundwork to buy the home of their dreams.

Without proper preparation, many buyers get lulled into the mistaken notion that if a lender pre-qualifies them for a mortgage this means that they have been pre-approved for a home loan. If you are looking to make a home purchase soon, now is the time to bring yourself up to speed on how these terms differ – and why a misunderstanding could mean losing out on the home of your dreams.

Get yourself pre-approved before even looking at homes. The first step will be to complete an official loan application. The second step will be to promptly supply the lender with the requested necessary documentation which will enable the lender to verify the information on your loan application. From this, the lender can tell you the specific mortgage amount for which you are approved. You'll also have a better idea of the interest rate you will be charged on the loan and, in some cases, you might be able to lock in a specific rate.

With pre-approval, you will receive a conditional commitment in writing for an exact loan amount, allowing you to start looking for a home with confidence at or below the pre-approved amount. More importantly, this puts you at an advantage when making an offer as the seller will know you are a serious buyer and will know you have the ability to purchase.

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It is of utmost importance to talk to a lender local to the property. It is also important in today’s current competitive market to use a lender that states they have the ability to close your loan in 30 days even if you want to close on your home purchase in 40 days. These two criteria will result in you closing ON TIME and ENSURING YOU GET THE HOME OF YOUR DREAMS.