Understanding Existing Home Sales – What You Need to Know Before You Sell Your Home
Last updated on: January 18, 2015
By the Apis Group
Before you even think about home selling, it’s important that you understand where the housing market is at. If you visit the link below, you will be taken to the existing home sales page of the St. Louis Federal Reserve.
We have included a chart below to show the current status of existing home sales as of December 20, 2014
As you can see from our analysis, even though the market appears to be recovering, it still has not reached the same level it displayed around the 2002-2006 time period.
Notwithstanding the changes to interest rate policy due in 2015, we should still see a gradual increase in the number of existing home sales to extend through 2016. Fed policy, due to change around the 26th of January 2015, may cause a slower uptrend in existing home sales, however, the Federal Reserve has stated that they do not plan to increase interest rates very much.
Selling a Home in this Market – We Buy Houses Review
It doesn’t matter if you live in Tampa, Sedona, Detroit, Phoenix or New York City, you will see signs up that say “We Buy Houses” followed by your city.
Regarding how a person can sell their home, here are some ways.
Some of these tips come from this page http://www.rd.com/home/improvement/13-tips-for-selling-your-home/
The video below provided great advice, it was not done by Apisgroup, but we think you will enjoy it.
- Search online and read reviews about your local housing market
- Post a video about your home online, you can do this through YouTube where it will receive better visibility.
- Leave your home slightly furnished. Yes, you might think it’s a good idea to take everything, but leaving behind a couch, RV etc. is sometimes a wise move.
- Clean your home well, checking for bugs, etc. Believe it or not, this is optional because there are several companies who will buy your home in any condition. Essentially, they will show up, give you a cash offer, and you chose the move out date. An example of one of these companies who offer the service called We Buy Houses Phoenix is located here.
- Just a disclaimer before we finish with our list, we at the Apis Group ask you to please note that the real estate market in Phoenix is different than the market in other major cities, so do some research first. Also, as you probably know, we help people with home issues here at ApisGroup
- Find out what people in your area are paying for new and older homes. It’s a good idea to find a house that has the same SQ Ft, rooms, bathrooms and age to determine pricing.
- Meet with a real estate agent to discuss options. You can always find good agents here http://www.trulia.com/ but bear in mind that real estate agents charge more for closing and other fees. It’s always good to shop around.
Hopefully this list has helped you. Keep up with the existing home sales market trends and also give the we buy houses people a chance, you might be surprised just how easy it is to sell your home.