Top 5 Motivations Behind Home Sales

Selling a home is a major decision that requires careful thought and consideration. There are many reasons why homeowners choose to sell, ranging from personal to financial to practical. In this blog post, we'll take a closer look at the top 5 reasons why homeowners sell their homes.   Want to be Closer to Loved Ones One of the most common reasons homeowners choose to sell is to be closer to family and friends. Whether you're looking to be near aging parents, grown children, or grandchildren, moving to be closer to loved ones can bring a sense of security and comfort. This can be especially important for those facing health challenges or as they enter their golden years. A closer proximity to family and friends can help provide support, comfort, and a sense of community.   Moving into Retirement Retirement is a major life transition that often involves simplifying and downsizing. For many retirees, this means moving to a smaller home in a slower-paced community or a location with a lower cost of living. Others may choose to move to a warmer climate for a more enjoyable retirement experience. Whatever the reason, selling your current home and moving to a new location can help you make the most of your retirement years.     Neighborhood Decline Unfortunately, neighborhoods can change over time, and some homeowners sell their homes due to a decline in the neighborhood's desirability. This can be due to increased crime, declining property values, or the arrival of new developments or businesses that negatively impact the quality of life in the area. If your neighborhood no longer meets your needs, it may be time to consider selling your home and moving to a new location.   Outgrowing Your Home For families that have outgrown their current home, moving to a larger one may be the solution. Whether it's to accommodate a growing family, aging parents, or simply to have more space, moving to a larger home can provide the extra space and comfort you need. This can be especially important for families who value having a spacious and comfortable home to create memories in.   Better Job Opportunities Work plays a major role in many people's lives, and a new job opportunity in another location can be a powerful motivator for homeowners to sell their homes. Whether it's a higher salary, better benefits, or simply a more desirable location, a new job opportunity can provide a fresh start and a better future for you and your family. If you've been offered a better job opportunity in another location, selling your current home and moving to your new location may be the right choice.   In conclusion, these are the top 5 reasons why homeowners sell their homes. From wanting to be closer to loved ones, moving into retirement, dealing with a declining neighborhood, outgrowing your home, or taking advantage of a better job opportunity, there are many reasons why people choose to sell their homes. Regardless of your reasons, it's important to work with a knowledgeable real estate professional who can help guide you through the process and ensure a successful home sale.

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Pricing Your House Right: What You Need To Know

Selling your house can be a stressful experience, especially when it comes to finding the right price. It’s important to get the pricing just right in order to maximize your profits and get it sold fast. But how do you know what that price should be? How do you know if you’re overpricing or underpricing your house? Let’s dive into why pricing your house appropriately matters, the problems of overpricing and underpricing your home, and how to find the right market value for your property.   Why Pricing Your House Appropriately Matters When pricing your house, it’s important to remember that price is everything. If you set a price too high, buyers may not even bother looking at it; yet if you set a price too low, you won't make any money off of the sale. It's also important to note that most buyers start their search online. And with inventory levels being so low in Spokane these days, setting an accurate price can help make sure your listing stands out from all of the others on the market.   The Problems Of Overpricing Your House Overpricing is one of the biggest mistakes sellers make—but why? Well, there are several reasons why setting an inflated asking price could hurt you in the long run. Firstly, overpriced homes take longer to sell since they must compete with more reasonably priced homes on the market. Secondly, buyers tend to be suspicious of properties with an unusually high asking price—they often think there must be something wrong or hidden about them and will stay away. Finally, when it comes time for appraisals and inspections, they may not come out favorably if they are not in line with comparable properties in the area. In short, overpricing can lead to long-term headaches that could have been avoided had you priced correctly from day one.   The Problems Of Underpricing Your House It may seem like underpricing would never hurt anyone—after all, who doesn’t want a great deal? But unfortunately this isn't always true when it comes to selling real estate. Buyers may become suspicious if a property is priced far lower than other similar houses in its neighborhood; they might assume there must be major renovations required that aren't disclosed or even worse—illegal activity going on behind closed doors! On top of this risk factor for buyers, underpricing can also hurt sellers as well because their profit margins will suffer significantly if their initial asking price was too low.   Your House At The Right Market Value So how do you find out what's truly a fair market value for your home? The best way is by enlisting help from experienced real estate agents who specialize in selling houses in Spokane County and surrounding areas. They'll have knowledge about recent comparable sales prices, current market trends and conditions that will help them determine where best to list your house so that it sells quickly and at full asking value (or higher!). By doing this research upfront and making sure all parties involved are on board with a reasonable listing price before getting started, sellers can ensure they get top dollar for their listings without sacrificing any potential profits due to incorrect pricing decisions down the road!   When selling a house in Spokane County (or anywhere else), pricing it correctly up front is key for ensuring both buyer satisfaction and seller success! By understanding why correct pricing matters so much (avoiding both over-and-under-valuing) along with consulting local real estate experts who can provide valuable insights about current market values for similar homes nearby – sellers will have peace of mind knowing their property will list at fair market value while still having room for negotiation during the transaction process! With all this info available up front before ever listing – homeowners should feel confident they are taking every step necessary towards achieving maximum ROI on their home sale!

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First-Time Seller “Setbacks” (and How To Prepare For Them Now)

Think back to when you bought your current home: There were things that happened during the transaction that sent you into a panic, but ended up being a totally normal part of the process of buying a house. In hindsight, you can probably even laugh at how issues that seemed like a setback (like that big inspection report) were resolved relatively quickly.  Now that you’re ready to list your home for sale, you’re about to go through something similar. Selling a home for the first time isn’t as easy as sitting back and having your Realtor rake in offers. Just as when you bought your home, there will be matters that require your immediate attention, appointments that have to be made, and issues that just might trigger unexpected emotions.  While this sounds overwhelming, these situations all are perfectly normal — and preparing for them now will make selling your home go so much more smoothly. Here are the five most common things to expect when you’re a first-time seller.   First-Time Seller “Setback” #1 You’ll Experience Surprisingly Strong Feelings About Your Home How to Prepare: Leave Emotions Out of the Transaction   It’s time to book a therapy appointment, get back in your favorite stress-relieving exercise routine and have your best friend on speed-dial. Even when you’re excited about your new home or have been counting down the days to move out (and away from a neighbor), selling your home is a life change that will stir up emotions you didn’t expect to have.  Whether you’re nostalgic about the memories and question if you really want to sell, or a potential buyer’s comment about renovating the kitchen you loved dearly makes you deeply angry, take a breath, calm down and hold off on sudden decisions. Emotional reactions might make you feel better in the short-term, but the feeling won’t last. Always think of the big picture and your goals before changing course.   First-Time Seller “Setback” #2 Your Home Will Need A Lot of Staging How to Prepare Make Sure Your Home Is Impeccable to Begin With   Even if you feel very confident in your taste in decor, anything that fills your home is a potential distraction for buyers. It’s nothing personal, though it feels that way. Your Realtor is going to likely suggest a thorough staging to show your home in the very best light to a buyer, so you can get the best offers.  Any work you can do on your home now will save you the time and cost of what the stager will have to do later. Go ahead and do the big decluttering project you’ve been meaning to do, rent a storage unit for that big sectional that takes up your living room, organize your wardrobe so your closet looks picture-perfect, and start selecting neutral paint colors for every room. Hire cleaners to do the kind of deep-clean you would do if you were moving out of a rental.   First-Time Seller “Setback” #3 The Buyer’s Inspector Will Turn Up Many Issues How to Prepare Get a Pre-Inspection   You remember the short novel-length inspection report that you received from your inspector back when you bought your home, right? And how you hired the most thorough inspector you could find? That’s what a potential buyer is going to do with your home. Acting now to address any issues will save you the headaches that pop up when a potential buyer looks to negotiate based on an inspection report. A pre-listing home inspection will turn up things you should repair, potential problems you might not even know about, and gives you a clear answer on the exact condition of your home. Concerned about cost? Your Realtor will advise on the changes worth the money, and what’s okay to leave as-is.   First-Time Seller “Setback” #4 Low-Ball Offers How to Prepare Realize That Not Everyone Sees Your Home Like You Do   There’s a difference between an offer that is slightly below asking price and one that’s tens of thousands below that. The latter will trigger a strong emotion (so go to #1 on this list) but will ultimately be rejected outright without thought. However, if you are fixated on low offers, a change in perspective might be in order. Recognize that low offers are real-life feedback about your home. If there is something about your home that a range of buyers considers an issue, it’s an opportunity to address that. Or, this might be a time to address your expectations. If the offers aren’t far off from your price and you’re disappointed because you envisioned offers far above asking, recognize that fantasy isn’t reality. While you see all the potential value in the home you’ve loved, others see the property as it is: A property.   First-Time Seller “Setback” #5 A Buyer Wants Many Concessions and Contingencies How to Prepare Understand That EVERYTHING Is Negotiable   Whether we’re talking about lower offers, a back-and-forth about making changes based on an inspection report or a potential buyer who comes back with multiple contingencies, understand that you have power as a seller (even if your area is a buyer’s market). You can always say no, or you can always counter.  Basically, everything is a negotiation. It might help to think of this as an ordinary transaction — like buying a car — instead of selling your home. Just as you wouldn’t even think about buying a car without negotiating, a buyer is going to do the same on this even-larger-ticket item. And just as an auto dealer wouldn’t accept just any offer, you don’t have to give in on every ask. You also have the advantage of a great Realtor who will advocate on your behalf every step of the way, so don’t hesitate to let them know your comfort level at any time.   In the end, selling your home for the first time is an opportunity to learn about real estate. The more you know before you sell, the bigger the advantage you’ll have in the end. You’ll be calm, focused on decisions that benefit your sale, and even more knowledgable about what concerns you can bring to your Realtor.   We're Here to Help If you’re concerned about potential issues unique to your home or market, we’re here to listen and help walk you through the process. Let's Talk!

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