The housing market – what can we say about it that hasn’t already been said. Well while it refuses to do what we want it to do it is consistent in one regard – it fluctuates backwards and forwards from being a seller’s market to a buyer’s market, and sometimes it sort of settles in the middle. So we are currently sitting centre stage in a buyer’s market and that can be good for both buyers and sellers if you know what you are doing – and that’s where we can help. A buyer’s market is quite simply where we have more houses on the market and not as many buyers. That is not to say that there are not opportunities for sellers to make the most of the market to improve their returns though.
If you are looking to sell right now make sure that you have plenty of time to sell as it will, potentially, stay on the market a bit longer. Try to work it so that you are able to give a longer settlement term – it will be more attractive for potential buyers, particularly if they have their own home to sell. And being on the market longer is not necessarily bad – as long as you’ve planned for that. Be strategic when it comes to selling. A great agent will be able to give advice on how to sell in this differing market so ask lots of questions about how things work, why they recommend a certain marketing campaign and ask about what successes they have had in a market like this one. That’s where experience really comes to play.
If you have something special about your home then let everyone know – be it a pool, large section, gorgeous views, a Harry Potter room under the stairs or being within walking distance to the best cafe on the North Shore (feel free to let us know what you think that is as Team Milford love their coffee). And make sure that you cover all options with your advertising – both on line and print advertising so that you cover all demographics. And regardless of the type of market you are selling in make sure that your home is ready to be seen – and looking as good as it can. Compare your home to others in your local area and make sure that your home stands out from them – if you need to do a bit of painting or landscaping then do it. You know what they say about first impressions right? And last, but not least, if you are buying and selling in the same market then you probably don’t need to worry too much about what the numbers say since the same things affecting your sale will also be affecting your purchase. You may sell for a lower price than if you’d sold a year ago but if you are as clever a buyer as you are a seller then you should be able to buy for a lower price as well. Just make sure that you keep an eye out for what’s happening in your local market so that when new properties come up for sale you are ready.