Convention dictates that you shouldn’t invest in an unpredictable market. But isn’t the market constantly fluctuating? While some wait on the sidelines for the perfect value-for-money moment, which may never arrive, others take advantage of real estate’s current opportunities. Whether you’re a first-time home seller or an upgrade buyer, navigating this shifting landscape is essential.
Lee Stevens was recently featured as a top 10 agent in his state. That wasn’t due to a reluctant approach to property investment. As the Founder of Team Stevens – Real Estate in Nevada, he has learned a thing or two about bucking popular trends and capitalizing on market openings.
His insight can help buyers and sellers seize the opportunities presented by the current market without getting caught up in the fear and uncertainty that often accompanies it. Here are the best ways to take strides toward your goals while others hesitate:
1. Prioritize your personal purpose
In today’s fast-paced world, information about the housing market is readily available through news articles, social media, and various other sources. However, Lee Stevens emphasizes that it’s crucial to base your decision to buy or sell on your personal needs and goals rather than being swayed by sensational headlines or market speculation.
“Base whether or not you’re going to move on your needs, not on what the news is saying or what you’re reading about the housing market,” he warns. “If you need to move, get with an agent who can help you achieve your goals.”
This approach keeps you focused on your unique circumstances, ensuring that your real estate decisions align with your life plans and objectives. Don’t let market noise dictate your actions; work with a knowledgeable agent who can provide personalized guidance tailored to your needs.
2. Price with precision
Optimizing your listing price is vital when selling any home. To avoid limiting your returns while keeping interest high, look at local sales within the last six months. Similar homes can be an excellent benchmark for setting your price.
“If there’s a home on the market with the same floor plan as yours, you can expect to get about that much for your home,” Lee states. “The only upgrades that matter in your home are things that increase the value, like the kitchen, the yard, or ease of navigation.”
By assessing recent transactions in the neighborhood and understanding the features that enhance value, you can price your home competitively and attract potential buyers.
3. Outshine the opposition
In a competitive landscape, standing out from the crowd is essential to sell your home quickly at your desired price. To achieve this, keep a close eye on those similar homes we mentioned and create demand by offering a more eye-catching property for a more attractive figure.
“Look at your competition,” the Team Stevens Founder says. “If your home looks better at a slightly lower price, you’ll take all the attention off other properties and put it on yours. It will drive people crazy!”
Another way to generate multiple offers is to find a similar property that sold recently with the same floor plan and marginally undercut it. This strategy can create a sense of urgency among buyers, dramatically increasing interest.
Lee Stevens’ grasp of the current real estate market revolves around practical advice that puts buyers’ and sellers’ needs at the forefront. He believes you can maximize the property market’s opportunities by focusing on your unique goals, understanding recent sales in your area, and taking advantage of your competitors.
The property market is constantly evolving, but it’s nothing a bit of solid expertise can’t handle. Whether you’re a first-time home seller or an upgrade buyer looking to sell your current home, informed decisions and effective pricing will enable you to succeed in any real estate environment. So, remember, when it comes to real estate, stay grounded in your needs, leverage recent sales data, and be prepared to shine brighter than the competition.