So How’s the Market?

So How's the Market?

In this ever changing world of real estate, things will sometimes open up a brilliant opportunity that may not be available tomorrow. Today’s lucky penny is the opportunity to “Move Up”, or in other words, sell their current home and move into something bigger. As you can see here, our average prices are lower as are the interest rates. Wouldn’t it be fantastic to buy a bigger home for less money and a lower interest rate now, and then find extra equity next year when the average home price goes up? Food for thought….

If you are thinking about making this market work for you, call me, 913-558-2053. Or follow me on Facebook at http://www.facebook.com/saravanallenrealtor or Twitter @SaraVAHomes.
Happy Moving Up Market!
Sara

How Will You Price My Home?

How Will You Price My Home?

Let’s begin with this simple and true statement:

I am not the one who decides how much your home is worth. The market does.

It is my duty to you to interpret the market which will tell us exactly where to price your property to sell and how to approach the marketing of it. Here are the factors that will affect the value in today’s market:

Price
Pricing your home properly from the start is the deciding factor on how long it will take to sell it. Overpriced properties are the #1 reason a house doesn’t sell. My rule of thumb for correct pricing is 10 days with no showing or 10 showings and no offer, we need to look at our pricing strategy. You don’t want to clean your house for showings over and over again for 6 months, and still not have an offer, do you?

Location, Location, Location
Location is the single most important factor in determining the value of your property.

Condition
The condition of the property affects the price and the speed of the sale. As prospective buyers often make purchases based on emotion, first impressions are important. I’ll be able to help in optimizing the physical appearance of your home to maximize the buyer’s perception of value.

Competition
Prospective buyers are going to compare your property – both the condition and the price – to other listings in and around your neighborhood. Those buyers will determine value based on properties that are listed or have recently sold in the area.

Timing
Property values are affected by the current real estate market. Because we can’t manipulate the market, we’ll collaborate on a pricing and marketing strategy that will take advantage of the first 30 days your property is listed. It’s the window of opportunity when buyers and their agents discover your property and are most likely to visit and make offers.

Are you ready to price your home to sell or know of someone that is? Visit my website at http://www.saravanallen.kwrealty.com or call me, 913-558-2053. Happy home selling!

Ever Wonder What Your Neighbor’s House is Worth?

Has there ever been a time when you were just curious about the price or other features of a home and you didn’t want to call the agent or look it up on the computer? Ever just wonder what your neighbor listed their house for?

Well now is your chance to find all the information you want about real estate…any location, any property, anytime…from coast to coast with my FREE KW Mobile App for smartphones. It’s as easy as pushing a button to find everything you want to know, right now. My Agent Code is KW2DC46G, check it out!

Where is the Market Headed Next?

Where is the Market Headed Next?
**UPDATE (February 25, 2014)**Well of course that market is a tricky beast and we are in the official swing of Spring. While the thermometer may still say Winter, the Seller’s Market has picked up tremendously! Houses right now in Kansas City are selling for 99.2% of asking price! Which is huge if you are a seller, talk about a quick turn around. For buyers, however, be prepared for multiple offer situations. Some things that might help? Be pre-approved, make a realistic offer, write a handwritten note about your family, and ask for no closing costs. Your offer will look more attractive to the sellers and will hopefully leave you in a better position should anything arise in the inspections. Best of luck buyers and sellers, and of course if you need anything, just give me a call!

Whenever I meet someone new, after the initial introductions the next question is usually, “and what do you do?” After I say that I am a Realtor, inevitably the NEXT question is , “how is the market?” Sure I could just say it’s great, but that isn’t really what you want to know is it?

With that said, I don’t make the market, I only interpret it. However, I take some time to really understand what it means for my buyers and sellers. If you are anything like me, I find statistics interesting, but I really only dig deeper if they apply to my current situation. If statistics are right up your alley, then hold onto your socks, I am about to make your day!

If you have a home to sell, you have excellent timing! According to the NAR Market Report, Johnson County average home prices are up 6.6% and the average Days on Market is only 62 days. Also, the amount of homes for sale is down 11% which means you have less competition for buyers, which is great right? On top of that, interest rates are at the lowest that they will probably be this year which increases the buying power of buyers shopping for homes just like yours. And speaking of buyers…

If you are looking to buy, did I mention that your best buying power is now? As of today (Feb. 4, 2014) the interest rate is 4.25%. Both the National Association of Realtors and the Mortgage Bankers Association is projecting interest rates to reach 5.3% by the end of the year. This means that if you are thinking about “moving up” now is your opportunity.
The difference on a $250,000 house at 4.3% and 5.3% is a difference of $151.08 per month that you would save, that is $54,388.80 that you would save over the life of a 30 year loan!Right now is neither a buyers or sellers market. That could change any day, although who doesn’t love a Win-Win sale?

On the flip side, Mr. and Mrs. Buyer with low inventory and low rates, if you find something you want, you better act fast and expect that you will be in a multiple offer situation. And to you Mr. and Mrs. Seller, these numbers are based on homes that are priced right and marketed for a quick sale. Want to know how to do that, give me a call, I would love to show you how I get your house just where it belongs on this moving market.

Let’s make it a moving day!
Sara Van Allen
913-558-2053

Visit my website at http://www.saravanallen.kwrealty.com or like me on Facebook at http://www.facebook.com/saravanallenrealtor.

Photo and interest rate facts courtesy of Keeping Current Matters