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Market Low Inventory Continues Vexing Homebuyers

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It’s not an illusion in this years 2017 market. In many neighborhoods within Oakland County, there aren’t enough homes for sale to match up with all the eager buyers looking to buy.market

This is great news for home sellers, though. Sellers are in the driver’s seat in today’s real estate market: commanding top dollar for their move-in ready homes; dictating the terms of sale; often experiencing multiple bids on their home.

Buyers need to be quick in this market, but not careless: get preapproved for a home loan; don’t skip the home inspection and specialty (mold, radon, termite, pest, etc.) inspections; be prepared to offer your best price on a home with the first offer; use a real estate pro to represent your interests; be patient and flexible.

Market Focus On Features

Each home will have its own outstanding features. When we talk about a marketing strategy for your home, we will consider what to include in your display, online market tools and on the flyer. Here are some worthwhile ideas:

  • Capital improvements. Include project description, year completed and your investment in the improvements.
  • Upgrades or replacements. List new appliances, paint, wallpaper, attic fan — anything you’ve accomplished that buyers won’t have to do after move-in. Mention special features and benefits. For example: “Easy-care kitchen range with self-cleaning oven, sealed burners, electronic ignition, digital controls; 1992.”
  • Energy-saving features. Cite money-saving extra insulation, high-efficiency heating/cooling system, thermal double-pane windows, etc.
  • Average annual utility bills. Also mention affordable property taxes. Buyers want to know!
  • Floor plan. Show room arrangement and dimensions. New-home builders and renovators can often provide floor plans, or one can be drawn for your home.
  • House illustrated. Picture your home in your display and on the flyer. Architect’s renderings may be available from the original builder.
  • Gardening highlights. Sketch the landscaping plan to show the work you’ve done. Identify trees and plants, especially if you have unusual ones. Provide photos of bushes and flowers in full bloom, if you’re selling off-season.
  • Pre-listing home inspection report. Impress buyers with proof of your home’s excellent condition. Show receipts for correcting any problems the inspector noted.
  • Neighborhood map. Highlight nearby schools, convenient transportation, shopping, parks, libraries, hospitals, and any other amenities or points of interest. Your kids can help color the map!
  • School data. Feature excellent schools. Mention honors and awards, good student-teacher ratios, sports and athletics, drama presentations, and special programs (i.e. for learning disabilities or English as a second language).
  • Neighborhood information. List neighborhood association dues (if any), annual community events, Neighborhood Watch programs, and the like. If yours is a friendly, quiet neighborhood, be sure buyers know it!
  • Community services. Include helpful information such as days for recyclable-material and bulk trash pick-ups, availability of swimming pools, children’s summer day-camps, adult education, and so on.

Navigate the seller’s market with less stress with the help of your very own personalized and free e-Book below. Download it below!Free Home Buyer-Seller Guides

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