What Does It Mean To Be In A Sellers’ Market

If you’ve given even a casual thought to selling your house in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate sellers’ market and the optimal time to make sure your house is available for buyers who are looking for homes to purchase. The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale is still astonishingly low, sitting at just a 2-month supply at the current sales pace.  Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers (See graph below):When the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. As a result, competition among purchasers rises and more bidding wars take place, making it essential for buyers to submit very attractive offers. As this happens, home prices rise and sellers are in the best position to negotiate deals that meet their ideal terms. If you put your house on the market while so few homes are available to buy, it will likely get a lot of attention from hopeful buyers. Today, there are many buyers who are ready, willing, and able to purchase a home. Low mortgage rates and a year filled with unique changes have prompted buyers to think differently about where they live – and they’re taking action. The supply of homes for sale is not keeping up with this high demand, making now the optimal time to sell your house. Bottom Line Home prices are appreciating in today’s sellers’ market. Making your home available over the coming weeks will give you the most exposure to buyers who will actively compete against each other to purchase it. We’d love to help you maximize your return, contact us today to get started!

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5 Tips on How to Sell Your Home During COVID-19

It’s Actually Easier to Sell Your Home Than You Think Does the thought of selling your home during a global pandemic fill you with dread? No need to fear, the ReNew team is here! In this article, 5 Tips on How to Sell Your Home During COVID-19, we’ll show you that it’s not only very possible to sell your home, in some aspects, it’s even easier.  1. Inspect your property before it goes live. Our professional inspectors make sure you’ve removed any evidence of possible infection. Keep in mind that the market is going to be very cautious about your home. The only potential buyers who will be interested in giving a house (any house) the “once over” during a pandemic are those looking for self-sufficiency or those who know you personally.  2. Take care of corrections ASAP.  The longer you procrastinate taking care of those little problem areas, the more difficult it will be to fix. More importantly, not taking care of corrections leads to buyer renegotiation, which makes selling a home unnecessarily stressful. Don’t add stress to yourself. Let our trusted contractors take care of any and all corrections. This applies to everything from tearing out toxic materials to making repairs to your house.  3. Get your home certified.  Our team of experts has a fast and effective process to certify your house as a ReNew Certified Pre-Owned Home. We go above and beyond to ensure your home is compliant with all health and safety guidelines. Once your home has been certified, it’s exponentially easier to sell.  When your home is certified through us, you’ll have offers coming in from left all directions! This helps tip the seller’s market even more in your favor by allowing you to get offers well above your initial asking price. Imagine selling your home at 3% higher value and what that extra chunk of change can go towards.  4. Want to sell your home? Only work with the best real estate agent.  The right agent will ensure your home gets the constant exposure. When you work with one of our local real estate partners, we utilize our network of potential buyers to guarantee that your home reaches the most potential buyers. Our ReNew Certified Pre-Owned Homes program makes this a breeze, since we take care of the heavy lifting before your home even hits the market!  Each agent is also regularly vetted for professionalism and expertise, so you’ll only get the best of service. Seriously, who wants to be left in the dark with something so important like selling their home?  5. Market your property virtually.  If you’re like most homeowners, you just don’t know how to market your house or how to price it. And that’s perfectly okay! Let us take care of this for you. We strategically plan out your property’s marketing campaign around the needs of the local real estate market. Our agents have access to a slew of experienced brokers that can help advertise your listing for optimal exposure, both online and offline.  But…what if buyers are hesitant to visit my home in person? There are many new and exciting tools we have in our arsenal that are specifically made for mitigating this, including 3D virtual tours, 360° photos, Zoom appointments and more. Furthermore, because you’ve gone the extra mile to certify your home as a ReNew Certified Pre-Owned home, buyers inherently feel more at ease about doing a walkthrough in your property.  “Okay, I’m totally sold on your program. What do I do next?”  The first step is easy. Simply reach out to see if your home qualifies.  Have more questions? Give us a call at 702-659-9005 for a quicker response.  Thank you for reading 5 Tips on How to Sell Your Home During COVID-19. Stay tuned for new updates.

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