The real estate market has been up and down for the last year and in many places, it’s become a seller’s market. For this reason, many homeowners are choosing to put their homes on the market to see what they can make and a lot of people are migrating to different states. For example, Boise was the fastest growing city in the US last year and it has new migrants from Oregon, California and Washington.
Why Are People Moving?
It’s easy to say that people are moving as a result of the past year, however, there are more economic reasons at play. The average home price in California is over $500,000 while the average salary is much less. This is causing people to seek employment and housing in other states, where salaries are more in line with home prices.
The Case for Seniors
Another reason people are migrating is due to older age. A lot of seniors who have retired in the last few years are now planning to sell their homes and move into 55 and older communities or retirement centers. Depending on how active a senior citizen is, these locations provide the social interaction they want with housing prices that are realistic and affordable.
You’re Ready to Sell Your Home – Now What?
If you have made the decision to part ways with your home, the first step in the process is finding out how much you will want to ask. Begin this process by hiring a qualified real estate agent who is very familiar with your neighborhood. This agent will be able to relay features of the community and understand everything about your local market before coming up with a realistic price for your home.
Fixing Any Outstanding Issues
Once potential buyers make offers on your home, you’ll be required to fix things around the house. This could be leaky pipes, patching up holes in the wall, fixing the fence in the backyard, etc. The buyers will expect you to correct any issues with your home or you will need to provide a credit in the transaction.
Do a walkthrough of your home and look for any things you can fix before your home goes under contract. You’ll want to try to make any repairs before the home inspector arrives and marks down everything.
Clearing Out Any Junk
It’s also important to not leave any old furniture, appliances or other types of junk behind when you move. If you have a lot of “junk” in your property, consider renting a dumpster for a few days or hire a junk removal service near you. They’ll come by, pick up all of your old items and you’ll be on your way.
What If You Can’t Sell At Your Asking Price?
With the state of the current economy, you’ll likely be able to sell at or above your asking price. However, if this isn’t happening, don’t panic and immediately drop the price. Consult with your real estate agent and then decide the best next steps based on the market. If it means you need to keep the property on the market longer than you planned, that’s okay. Your agent will be able to tell you the best steps and advise what is best for you to do. If you need to move right away due to employment (starting a new job in another state), your agent can also advise you on the best path forward to selling the home even in if you’re in another state.
Be sure to evaluate these steps before deciding to put your house on the market. You’ll likely have a buyer in no time and be on your way!