Is Columbia SC a Buyers Market?
With the first of the year drawing near, many homeowners are thinking about selling their houses. If you’re in the fortunate position of finding a buyer quickly, you can make some good money. But if you’re looking at a more of a lengthy sales process, you can be left with a loss. Knowing the right information ahead of time can help you make the right choice. Thus, aim to take advantage of the current trends, which means learning if it is a buyers market or sellers market.
Properties With An Inside Opinion
According to the experts at Realty Executives, one of the best indicators of how quickly a house will sell is the condition inside the home. Homes in perfect condition, with no signs of wear and tear, typically sell much quicker than those that need a little bit of an overhaul. They also suggest that if you’re thinking about selling your home in the next few months, consider doing some of the work yourself. Ensure it is complete before listing with a real estate agent. This can help you decide how much you should be asking for it.
High Demand, Low Inventory
While much of the country struggles with high housing costs, more and more people are looking for ways to earn a living remotely. With many technology jobs moving online, there’s a greater demand for online tutors and software engineers than there is for housing construction. It’s an ideal scenario for would-be home sellers looking to make a quick profit. Especially as there is a higher demand but fewer potential buyers who can afford the price range. Inventory is at a record low, which has driven up prices and made it easier for home-makers to sell their properties. It’s a buyers’ market, which makes it perfect for those who want to make a fast buck.
Demographics
Another factor that influences whether or not you’ll be able to make a quick sale is the demographics of your area. If you live in a neighborhood that’s predominantly white, you’ll have an easier time finding a customer base. People in areas that are heavily influenced by immigrants and people of color are less likely to spend money on homes. Often as they may not feel a connection to the property. Homes in these areas typically appreciate in value but don’t sell as quickly.
Exposure
The location you choose for your home is another critical decision. If you want to make sure it gets maximum exposure, make sure that it’s in a highly trafficked area close to major streets and freeways. If possible, you’d also want to consider placing it in a highly visible location. Consider hillside properties or those at the end of a cul-de-sac. Having a house in a desirable location can help you attract potential buyers later on, as people usually don’t want to live in a cramped area. Getting good exposure is usually an indicator of how easy it will be to sell the property. Hire real estate agents to help with marketing to reduce time on the market.
Conditions And Needs
The experts at Realty Executives also say you should make sure that the house has everything it needs before putting it on the market. Check for leaks, fix any holes in the wall and ceiling, and fix or replace any broken windows. If there’s something that needs work, but you don’t have the time to do it yourself, hire contractors to do the work.
Look into the house’s systems, as well: Is the roof in good condition? Are the windows and doors working?
How about the appliances: Is the dishwasher working? Can the fridge be opened and closed without a loud noise?
These questions can help you determine whether or not the house will appeal to potential buyers in the market. If you find that some of the systems aren’t working, it could make the house unlivable. Thus, reducing its value. To keep things fair, you should check for these things before offering it to a buyer.
