A Look at Important Real Estate Matters For 2023

By: Maria Girlie Pascual

 

It’s good to be back! After spending almost the whole month of February back in the Philippines, I can honestly say a little bit of peace and quiet has given me the decompression time I needed to get the vacation mindset out of my system and into the work mode that I can tap into for the upcoming real estate season. For starters, as of press time, overall residential mortgage rates have come down, thankfully, from the 7.25% to a now friendlier, and more manageable 6.25 to 6.5% APR for a fixed, conventional 30 year interest rate for homebuyers. With that being said, I hit the ground running, showing homes and meeting with sellers to help them prepare to market their home this coming Spring. An article in the Residential Realty online magazine has come up with the perfect article to explain why the use of a real estate professional like me, who has been a full time broker for over 35 years since 1988, and has sold over quarter of a billion dollars in lifetime sales, can help you with advice and pointers on how to prepare your home for sale with minimal renovations if needed, and as a buyer, the best strategy to land you a first, or upgraded home this year. Here is what research has shown per the article which came out March 1, 2023:

If you’re thinking of selling your house, it’s important to work with someone who understands how the market is changing and what it means for you. Here are five reasons working with a professional can ensure you’ll get the most out of your sale.

1. They’re Experts on Market Trends

With today’s housing market defined by change, it’s critical to work with someone who knows the latest information and how it impacts your goals. An expert real estate advisor knows about national trends and your local area too. More importantly, they’ll give insight to what all of this means for you, so they’ll be able to help you make a decision based on trustworthy, data-bound information.

2. A Local Professional Knows How To Set the Right Price for Your Home

Home price appreciation has moderated this year. If you sell your house on your own, you may be more likely to overshoot your asking price because you’re not as aware of where prices are today. Pricing your house too high can deter buyers or cause your house to sit on the market for longer. Real estate professionals look at a variety of factors, like the condition of your home and any upgrades you’ve made, with an unbiased eye. They compare your house to recently sold homes in your area to find the best price for today’s market so your house sells quickly.

3. A Real Estate Advisor Helps Maximize Your Pool of Buyers

Since buyer demand has cooled this year, you’ll want to do what you can to help bring in more buyers. Real estate professionals have a wide range of tools at their disposal, such as social media followers, agency resources, and the Multiple Listing Service (MLS), to ensure your house gets in front of people looking to make a purchase. Investopedia explains why it’s risky to sell on your own without the network an agent provides. Without access to your agent’s tools and marketing expertise, your buyer pool – and your home’s selling potential – is limited.

4. A Real Estate Expert Will Read – and Understand – the Fine Print

Today, more disclosures and regulations are mandatory when selling a house. That means the number of legal documents you’ll need to juggle is growing.

5. A Local Professional Is a Skilled Negotiator

In today’s market, buyers are regaining some negotiation power. If you sell without an expert, you’ll be responsible for any back-and-forth. That means you’ll have to coordinate with:

• The buyer, who wants the best deal possible • The buyer’s agent, who will use their expertise to advocate for the buyer

• The inspection company, which works for the buyer and will almost always find concerns with the house

• The appraiser, who assesses the property’s value to protect the lender

Instead of going toe-to-toe with these parties alone, lean on an expert. They’ll know what levers to pull, how to address everyone’s concerns, and when you may want to get a second opinion.

Bottom Line

Don’t go at it alone. If you’re planning to sell your house this spring, work with a real estate professional so you have an expert by your side to guide you in today’s market.

I hope reading this helps you whether you are buying or selling this year. Talk to me! I am available 24/7 at (847) 912-3997 or hit me up on Facebook or Messenger. Put my 35 years of real estate experience behind your decision to move forward this Spring, and feel confident that you have an ally and an expert to help you navigate the intricacies and challenges of today’s market. Thank you!

Have the roof checked for leaks or missing shingles by hiring a drone photographer.

Make sure the shrubs & bushes are also trimmed in the front and sides, perimeter of the house to give a good overall curb appeal.

And finally, call ME, your friendly Real Estate Broker to evaluate your home and your plans.

The backyard is also a major selling point- flower pots, lighting, nice patio furniture & area rugs can add color & symmetry.

With modern paint colors & new carpeting or wood, any outdated items can be changed with nominal cost.

Show off your backyard improvements by cleaning up and trimming trees & shrubs.

Toilets and baths should be clean & spotless – it’s one of the major selling points of any home.

An open foyer and clean entrance provides a grand welcome to potential buyers.

Clear your patio & balcony for maximum exposure & enjoyment.

If the property has a pool, make sure it’s clean & inviting.

Make sure to service the mechanicals & clean the furnace area, hot water heater & A/C prior to putting your home on the market.

Your kitchen is the heart of the home, make it your show piece.

A well lit, organized & uncluttered kitchen makes your home stand out.

Accentuate the positive – make the focal points of the rooms matter – bring the outside in by opening drapes & window treatments.

Clean & organize bedrooms to show space & beauty.

A beautiful clean front entrance creates a great first impression.

Basement organization & decluterring is a big MUST.

Finished basements & recreation rooms must show space & potential additional space for the family which adds up Ver all value to the home.

Bright lighting, open drapes and clean, staged areas give the best look to your interior.

Show personality through pops of color & small accent pieces that do not overpower the space.

Big or small, less than a definitely more do keep the personal decor to a minimum.

Change all light bulbs and make sure all appliances and mechanicals are working properly.