Preparing for the Spring Real Estate Market!

Dated: February 2 2024

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Spring is a busy time of year for both home buyers and sellers. Once that long winter finally breaks, families start house hunting and visiting properties after months of inclement weather.

Once you’re on the hunt for the perfect home, there are a few things to keep in mind.

Spring is the time of year when many families have a desire to make changes coinciding with the school year, while summer is often filled with vacation and travel and kid activities. Of course, it is also more enjoyable looking at houses with green grass, warmer temps, flowers blooming, and longer days.

The Spring Market May be a Competitive Market

Because spring is the most popular time of year for buying and selling homes, be prepared to potentially enter a competitive market.

With increased buyer competition, it’s important to plan to see homes soon after they hit the market. This way you can tour a property you’re interested in and be prepared to make a competitive offer early before too many other prospective buyers have seen the property.

That might mean you’ll have to jump in with an offer right away, or it might mean a longer house-hunting period, if properties are being quickly purchased in our local market.

This also means that you’ve met with your lender and your financing is preapproved.

Don’t push off your house hunt just because spring is a busier time of year. With the way the housing market has gone in recent years, it’s not a sure bet that competition will lessen once the seasons change.

Inspect the Property

If the idea of pouncing on a property quickly gives you pause, keep in mind that you can still make an offer and have an inspection done before the transaction closes.

A professional inspector will look out for water damage, roof damage, drainage problems, foundation issues, and pest damage. These issues are important to identify during the inspection process as these repairs can be costly and affect the condition of your home over time.

Preparing to Sell

If you’re selling your home in the springtime, be sure to spruce up your exterior spaces. Potential buyers will be thinking of hosting summer events, so highlight the great outdoor features of your home that make it shine.

Start by boosting curb appeal, like painting the exterior of the home, freshening up landscaping, and completing outdoor repairs to porches, decks, garage doors, siding, and fencing.

Address any necessary repairs before listing your home. Fix leaky faucets, replace broken windows, and repair any damaged flooring or walls.

When you’re ready to sell, don’t delay. Just remember a spring market might be hotter than a winter market!

Contact me to discuss your preparations to buy or sell this spring!

Source: https://www.bhg.com

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