In many areas of the country, the housing market is growing and its strength has lead to a competitive market for buyers and an easier market for homeowners looking to sell. In Cache Valley it is no different. Below are some top tips for those looking to buy or sell in today’s competitive market.
Seller Tip: Know your property well and be honest with potential buyers
Sellers are in a position of strength in Cache Valley, but you don’t want to lose a potential buyer and have to re-introduce your property to the market after lengthy negotiations. Make sure you know all the details and potential pitfalls of your house and be honest with potential buyers. Buyers are much more forgiving of a property’s faults if they know about them before entering negotiations. Withholding information could kill your deal later and buyers are much more accepting of faults if they are entering a competitive market.
Buyer Tip: Be ready to close a deal and move
Signing up for new listing alerts by email is a great way to stay on top of the inventory here in Cache Valley. You can then contact me and I will arrange a viewing as soon as possible. There will be lots of buyers looking for the same property as you, so when a great house is listed on Tuesday it may be off the market by the weekend. Serious buyers are ready to make an offer and close a deal quickly.
Seller Tip: Have an organized process for receiving offers
There is no golden rule on whether to accept the first offer you receive or to leave your property on the market waiting for a more attractive offer. In some areas it can be a great idea to jump on the first good offer you receive, whereas in other areas, it is best to wait and have more showings before reviewing all the offers you have received at once.
Buyer Tip: Buying your dream home won’t be easy
Buying a home in Cache Valley takes time and with lots of competition you can easily lose out on a property if you don’t act fast or your offer is too low for the seller to accept. If you miss out on a home, it’s important to stay hungry and keep driven to find the right property next time. Every home you see and every offer you make is helping you learn more about the market and become more comfortable with how the whole process works. Missing out on a property is not always a bad experience, as the home you thought was perfect a month ago does not seem half as suitable as the property you find a month down the line.
Seller Tip: Study the competition and know your market well
A seller should know the Cache Valley market before they put their home up for sale. Spend a few weeks studying the other properties for sale in the area, I can even arrange a few viewings, before putting your home on the market. Once you are ready to sell, know your competition and how to price your property to receive the most attention from buyers. Every property is different, but you should know your own property inside and out and how it compares to the competition. Although the house for sale down the street may have a brand new bathroom and kitchen, you can price your property as an attractive alternative with great value for buyers that want to do their own home improvements. Well priced homes attract the attention of buyers and lead to faster sales and increased competition, which boosts prices.
Buyers and Sellers Tip: Preparation and staying alert
The Cache Valley housing market can be stressful for both buyers and sellers. In this competitive market, things can move along very quickly and both sides of the market need to be attentive if they want to successfully buy or sell a property. Sellers have the upper hand especially if they take great efforts in preparing to enter the market. A competitive market is fast moving and can be very exciting for both buyers and sellers, so try to enjoy the ride.
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