My wife and I are getting ready to put our house on the market and have heard spring and summer are the best times to sell a home. I have also heard inventory is pretty low in the Vail Valley right now so thinking sooner than later might give us a leg up. Our home is about 15 years old and has been kept up but may need some remodeling based on a new buyer’s interests. Given the current real estate market, what would you recommend?
Dear Curious Seller,
Your gut is correct, sooner is better than later. With the lowest inventory levels in more than a decade, listing your property now will give you a distinct advantage since you will be several months ahead of any expected new inventory. Buyers are already out and not just looking, they are buying, as demonstrated by 2019 year-end reports, which have shown continued buyer pick up since early spring last year (hence the low inventories).
Over the past few years buyers are getting started earlier and earlier. February is the new April. We have already seen multiple offers in areas one might traditionally refer to as spring/summer markets.
While buyers typically like updated and new homes – who doesn’t — my team always recommends a staging session before bringing a home to market. This helps give your home the best marketing appeal to buyers as it minimizes the personal effects that allows buyers to “see” your home as their home.
Based on the condition of your home, you may need to update areas to increase sell-ability and a good staging company can make recommendations that have the greatest ROI. A fresh coat of paint in a neutral color and/or floor coverings can go a long way to increase your home’s appeal and give it an updated look.
While actual in-home staging is always the first choice, technology now gives us the ability to do virtual staging for a home that includes updated furniture, wall colors, flooring, etc. This photography based approach gives buyers a realistic sense of what the home could look like. While it’s not a replacement for true staging, it is an option for sellers with budget constraints.
Being aware of your options and how to best present your home to potential buyers, including market value pricing, will help increase your ability to sell your home in a timely manner to the right buyer.
Good luck with your sale,
Mark Weinreich is a 12-year Berkshire Hathaway HomeServices Colorado Properties veteran and a member of The Weinreich Team, specializing in resort-market residential real estate. A Vail Valley resident for more than 27 years, Weinreich’s knowledge spans the Vail Valley, from Vail Village to Gypsum. He is among the top performing brokers in the Vail Valley, including 10-time Berkshire Hathaway HomeServices Colorado Properties Chairman Award and five-time Legend Award winner, representing the top one percent of the more than 55,000 network of brokers worldwide. Team Weinreich has also been honored as the top producing team for the Villages of Beaver Creek. Contact Weinreich with your real estate questions at Mark@VailMtnRealEstate.com or 970-376-3204.