If you are planning to sell your house – it’s a high time to do it this year!
According to a recent poll by Fortune home values will continue to rise in 2015, but a bit slower than they did it last year. Zillow’s economists predict the prices to rise for about 3% this year, nearly half the current clip. Realtor Mag predictions for 2015 are even more attractive with an expected home price appreciation increase of 4-5%.
Both Fortune and Realtor Mag agree that millennials will drive household formation in 2015. The Census Bureau announced that the group of now-23-year-old Americans is the largest in the country, followed by 24 and 22-year olds. Most of them are planning start to families and currently consider buying homes of their own. Besides, they are expected to drive 2/3 of household formations over the next 5 years according to the Realtor.
Today numerous surveys of homeowner sentiment suggest that more of them will look to sell their homes in 2015, thus putting more downward pressure on prices and timing. For example, at the beginning on 2015 it takes 100 days on average to sell a house in the Newport Beach area, whereas the whole process used to take just 69 days in March 2014.
Loads of new house listing flood the market in spring, so make sure you come prepared by implementing a few simple, yet actionable hacks that will drastically increase your home value without spending much!
Point2 suggests starting with the exterior. Renewing flower beds and adding a touch of new colorful flowers will make your house look more inviting and “home-like” – features that significantly increase the chances of selling your property at no time.
Seth Williams of REtipster also points out what a major role the visual appeal plays. He suggests investing in some professional photography if you are not good at taking pictures yourself as beautiful images help people see and sense the value you are offering, thus sealing the deal faster. Basically, your property sells itself as most people today start with the internet research.
Coastal Real Estate group recently surveyed 24 experts who shared their top secrets to skyrocket your home value while sticking to the budget. You can see all of their special hacks in this fancy infographic below!
Featured photo credit: Prabhu B Doss via flickr.com