When selling a home in 2022, there is one word on everyone’s mind: “Seller’s Market.” Real estate values have appreciated to the highest value in nearly 45 years in the past twelve months. This has made many wonder if now is the time to cash in on their home equity and sell.
For those who live in Summit County, Colorado, the answer is a resounding YES! The market is hot, but we also happen to live in one of the most desirable places to live in the country. Many homeowners are deciding to sell now to take advantage of the market and move up to their forever homes.
But seller beware: just because the market is hot doesn’t mean you can put your home on the market and expect to sell it in a matter of days. You still need to take some crucial steps to make sure you sell for the best price possible.
Let’s break down some of the top tips for selling a home in Summit County, Colorado, in 2022.
Tip 1: Work with a local real estate agent who knows the market.
When the market is hot, many homeowners are tempted to try and sell their homes independently.
But the truth is, working with a local real estate agent who knows the market is one of the best things you can do to ensure a successful sale.
There are plenty of benefits of working with a real estate agent – from help with pricing and marketing your home to negotiating on your behalf and taking care of all the paperwork.
But most importantly, an excellent real estate agent will have their finger on the pulse of the market and will be able to give you the best advice on when to list your home.
Tip 2: Price your home right from the start.
In a seller’s market, it’s easy to get caught up in the hype and think that you can list your home for any price, and it will sell. But that is not always the case.
It’s still important to price your home correctly from the start. If you price your home too high, you could sit on the market for months with no buyers.
On the other hand, if you price your home too low, you could leave money on the table.
The best way to price your home is to work with a local real estate agent who can do a comparative market analysis (CMA) and help you with the right price for your home.
Tip 3: Don’t forget to stage your home!
Just because the market is hot doesn’t mean buyers will be willing to overlook a messy or cluttered home.
It’s still important to stage your home and make sure it shows well. This means decluttering, deep cleaning, and making necessary repairs or updates.
If you need help getting your home ready to show, your real estate agent can connect you with a professional stager who can work their magic and get your home show-ready.
Tip 4: Be prepared for a bidding war.
In a hot market, it’s not uncommon for homes to receive multiple offers.
If you find yourself in a situation where you have multiple buyers interested in your home, don’t get too caught up in the emotions.
It’s important to remember that this is a business transaction, and you should always try to get the best price possible. But there are other elements in the process to watch for as well:
- Financing: some buyers may offer high prices, but if they are not able to get funding, their offer may not be as solid as one from a buyer who is pre-approved for a loan.
- Inspection: some buyers may try to lowball you by asking for repairs or credits after the review. Be sure to have your home inspected before listing to be aware of any potential issues and can address them upfront.
- Escalation: some buyers may include an escalation clause in their offer, which means they are willing to outbid other buyers by a certain amount.
Make sure to work with your real estate agent to evaluate all offers and make the best decision for you and your family.
Tip 5: You may still need to make repairs and updates.
Even in a hot market, buyers are going to be picky.
They want to find a move-in ready home that doesn’t require work.
So if your home needs repairs or updates, you may still need to make them before listing.
Some common repairs and updates that sellers make before listing their homes include:
- painting
- new carpet or flooring
- updating light fixtures
- making minor repairs (leaky faucets, cracked tiles, etc.)
- landscaping
Making these repairs and updates can be costly, but they could make the difference in getting your home sold quickly – and for top dollar.
If you’re thinking of selling your home in Summit County, Colorado, follow these tips! With the proper preparation, you can make sure your home sells quickly – and for the best price possible.
Get Top Dollar for your Summit County Home with Peak State Properties
Taking the proper steps today will ensure a smooth and profitable home sale in the future.
For all your real estate needs in Summit County, contact Peak State Properties! We are your local experts and would love to help you sell your home. Our team has years of experience helping Colorado homeowners prepare and sell their homes for top dollar.
Our real estate professionals will guide you through the entire process – from pricing and preparing your home to list and marketing it to buyers. We’ll make sure your home is in its best shape before putting it on the market so you can get the most money possible.
If you’re thinking of selling, don’t wait! The sooner you contact us, the sooner we can get started on helping you prepare your home for sale.
Get in touch today and let us help you take the first steps towards selling your Summit County home!