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Thinking of selling your home? Before you place the “For Sale” sign in front of your house, there are a few things you should consider in order to maximize your home value and make the sales process smooth and efficient. Be prepared to discuss the following subjects with your real estate agent when you’re ready to sell your home and you’ll be one step ahead in the market.
1) Best Time of Year to Put Your House on the Market
Conventional wisdom dictates that spring is the best time for selling a home. The weather is getting warmer, the school year is coming to an end, and people who have just received their tax refunds may now have extra cash to use for a down payment on a home. However, since not everyone can sell a home in the spring, here are some other seasonal factors to consider. According to annual home sale data from the National Association of Realtors, the slowest selling months of the year are typically January and February, since fewer home sales occur during the holidays. In spite of this, with less competition in the marketplace, you may be able to ask for a higher price for your home, or a quicker closing. Additionally, temperate locations like Florida and California don’t see the seasonal fluctuations in the housing market, where house-hunters are almost always looking. And a late winter or early spring in the Northeast may extend the typical “selling season.” These seasonal variations, as well as a variety of local factors, will all influence the housing market in your area. Be sure to talk to your real estate agent regarding the current state of the market and how it will affect the sale of your home.
Realtor Association Expands Anti-Discrimination Policy
At the recent annual governance meeting of the National Association of Realtors held in San Diego, the Board of Directors adopted a recommendation to expand its existing support of equal opportunity to include its application with respect to sexual orientation. The exact wording of the motion was: "That existing NAR policy on equal housing opportunity be amended to include opposition to discrimination based on sexual orientation."
Prepare to Avoid Buying Panic
When you buy real estate in a panic, you may lose more than you gain. PJ Wade shares tips on removing the panic from buying in even a fast-paced market.
Market Conditions
The National Association of Realtors' Pending Home Sales Index shows that there has been a market swing, driven by response to the home buyer tax credit.
Real Estate Outlook: Positive Movement
It's a fairly rare event, but now and then most of the important economic directional signs go positive, and this is one of those weeks