You may have heard that interest rates are on the rise from the incredibly low levels we’ve seen over the past few years. Of course all markets go through ups and downs, but real estate prices in the area are expected to keep rising, albeit at a slower rate than they have been. A lot of this is due to Northeast Ohio being so affordable compared to other metropolitan areas, which drives a lot of out of state and foreign investors. While there aren’t as many buyers in the market as there was this time last year, the current conditions are still good for sellers. The homes hitting the market now may be expected to sit slightly longer as the buying slows down; according to the St. Louis Federal Reserve, homes spent an average of 50 days on the market in September 2022, about 20 days longer than in May 2022.
When your looking to sell your home for the best price, its going to be important to understand the mindset of the current pool of home buyers. We want to attract a buyer as fast as possible and we want to make sure there are no surprises while we are waiting for the close date. Keep reading as we share the 5 tips we found most beneficial for selling your Cleveland home in today’s market.
Prep for Showings
The first tip for selling your house in Cleveland’s current market is to make it look as nice as possible for showings. When real estate agents are listing houses on the MLS, they hire interior decorators to make it look nice to buyers. They stage the house with furniture, remove clutter or personal fixtures and set up lighting to make the house aesthetically pleasing. A new coat of paint is almost required unless it’s a new house. If you are looking for top dollar, flooring and kitchen updates go a long way in the eyes of buyers. Outdated bathrooms can also be spruced up relatively quickly and can completely change the buyers opinion of the home. We at CamShell would be happy to help you understand what updates could be done, as well as what effect that would have on your sale price. Of course, if you would rather not get into the prep work of getting your house show ready, you can always see what a local professional buyer like CamShell would be willing to pay as well.
Any Needed Repairs
If your interested in selling your Cleveland house in today’s current market, it’s best to know ahead of time if there are going to be any needed repairs. Buyers paying top dollar for a home are usually end buyers, meaning they plan to live in the house with their families. Since these families tend to be busy, even small repairs they would need to make after the buy the house may sour the deal for them. If a situation comes up where the needed repairs are something you’d rather not deal with, another option would be to sell directly to a local buyer like CamShell.
Getting The Word Out
There are costs involved in getting your property in front of buyers. A lot of money is put into those 360-degree virtual tours and everything that goes into making sure we find the right buyers. Realtors are then paid fee’s and commissions when the property sells, which hopefully pays for itself with a higher sale price. If you would like to see a cash offer on your property and not have to pay any fees, professional home buyers like CamShell can provide that offer quickly.
Buyer Showings
This part does kind of stink, but its very important that your house is available when buyers ask to see it. You should have an understanding with anyone living in the house that they need to accommodate showings by being out of the house, so that the buyers don’t feel like they are being intrusive. Make sure if you do have any pets that the house is deodorized and tidy for the walkthrough. If you would like to sell the house without doing a bunch of showings, CamShell buys in the area and works any walkthrough into your schedule.
Asking Price
Selling your Cleveland house fast in the current market also has a lot to do with your asking price. Of course we want to sell for as much as possible, but we also want to not scare away potential buyers with a number that is to high. If it seems overpriced for the area then most buyers won’t even bother looking at the house. We also don’t want to list it to low, as the term “you get what you pay for,” may enter into the buyers mind. If the price is to low, they may start wondering if there is something wrong with the house. Since it’s your home, a lot of sellers have a hard time reconciling emotional attachments with the home and its current market value. Professional home buyers like CamShell can walk you through the numbers involved so that you will have a better understanding of what the property is worth on the Cleveland market.
Eric at CamShell is always happy to go over, in as much detail and as transparently as possible, what selling to us would look like versus selling through a realtor. Once you have that info you can decide what the best selling option would be for your goals. The professional buyers at CamShell can get you a fast, all cash offer while also allowing you to choose a closing date that works for you. Since CamShell does all cash offers, you don’t even need to worry about the buyer not being approved for a loan. Call CamShell at 440-261-5171.