4 Things It’s Important to Consider When Selling Your Home

We have already entered our spring market, and we are starting to see some multiple offers again. With some offers, we are even seeing things like appraisal gaps again. That all sounds great for sellers, but there are definitely some things to keep in mind if you are selling your Denver area home in spring of 2024. Let’s take a deeper dive into it.

1. Condition Is Important »

2024 is not like 2020 and 2021 when the inventory was scarce. Buyers have more   choices, so you want to make sure that you present your home in the very best way when you are selling. The homes that are going to get the most attention and potentially multiple offers are the homes that have been updated and cared for. It seems that many buyers put a lot of weight on getting a home that is already updated or at least considered move-in ready. Having your home clean and in good condition also goes a long way. If a buyer comes into a home and they notice it has a lot of work that needs to be done prior to moving in, it can make them question what else may be wrong that they can’t see. At the end of the day, if a home needs too much work, often buyers are choosing to purchase a different home they feel is more move-in ready.

2. Pricing Matters »

I mentioned that we are starting to see multiple offers again, and agents are using strategies like appraisal gaps to enhance their offers. I want to clarify this statement by saying the homes that are getting multiple offers and the extra enhancements are homes that are priced correctly and even sometimes priced aggressively. A homeowner can’t just arbitrarily price their home high and expect multiple offers. If a home is priced too high, it will most probably sit on the market until a price reduction brings it down to what a buyer is willing to pay. Of course, we know that sellers have different motivations for selling. At TK Homes, we can help you decide the best pricing strategy for your unique situation.

3. Preventively Inspecting High Ticket Items Is Important »

I always tell my clients that surprises in real estate are usually not good, unless it’s getting an over asking price on your home. We are not currently back in the 2020/2021 market when many buyers were almost forced to buy a home as-is due to the competition. Buyers have more choices today. At TK Homes, we still recommend you inspect the following things before listing your home: roof, HVAC system, and wood burning fireplace if you have one. That way, when it comes time for your home inspection, you have some peace of mind that many of the big-ticket items have been taken care of. Remember, because buyers have more choices, it is easier for them to walk away from a home they are buying if they feel there are many big-ticket items they need to ask for after the inspection. They may decide to not even ask and terminate. By doing these preventive inspections, you can highly reduce the chances of a buyer terminating due to inspections.

4. Your Selling Timeline »

I think we all understand that what happens to the Fed rate impacts our interest rate. In the news, we have heard that the Feds do not plan to lower their rate in March, and we have been left wondering if they are going to lower the rate this year at all. We have heard it is a possibility in May. Although we don’t have a crystal ball, if you are able to wait, it may be worthwhile for you to wait to sell until a bit further into the spring to potentially enjoy a higher buyer pool and higher sales prices.

At TK Homes, we know that everyone’s situation is different. That is why we are happy to sit down with you and discuss what the best selling scenario is for you. Contact a TK Homes agent today and let us help you decide the best plan to net you the most for your home at the closing table.

~ Written by TK Homes REALTOR®, Mary Smith