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When you think of prepping a home for sale, you may think you need to spend a lot of time and money to get it right. The truth is, you don’t need to wreck your budget or your schedule to get your home ready to be put on the market. If you are looking for some ways to stage your home and save money, then look no further than these helpful hacks.
Re-do Walls in Neutral Colors
Vibrant colors and decals are a wonderful way to add a personal feel to your home. However, they can be very distracting for people when they view your home. Prospective buyers are likely to have trouble envisioning themselves in your home if there are lots of bright colors on your walls. The best bet is to repaint the interior of your home, and make sure you use neutral paint colors to do so. You can keep costs down on paint and painting supplies by searching for online discounts at home improvement stores. Lowe’s offers weekly sales and cashback rewards, which puts more money back in your bank account.
Swap Personal Photos for Basic Decor
Another way you can create a blank canvas for potential buyers is to remove photos and personal items from your home. Putting these items away will also keep them safe during busy open houses and showings. To keep your photos from distracting buyers but still keep decor on the walls, try looking for inexpensive, basic wall art and decor to swap into spaces. Retailers such as At Home always have budget-friendly options, as well as online offers, and you won’t feel bad about parting with them once your home is sold.
Dust and Clean Every Room
Before you list your home or have photos taken, you need to make sure it is as clean as it can be. You also need to keep it that way. With kids around, that can be much easier said than done. The simplest approach may be to schedule a one-time deep cleaning. You can look for discounted cleaning offers on sites like Groupon. Then, create a regular cleaning schedule to maintain order for showings and open houses. Make sure you have everything you need to clean your best, including dusters, mops, and cleaners. Try looking online for coupons to save money on the cleaning supplies you need.
Clean Out Storage Areas
When people look through your home, you can bet they will look through every inch. That includes storage spaces such as garages, pantries, and closets. If your storage areas are filled with old toys, try taking some time to declutter and get rid of what you no longer need. You can look into renting a storage unit if you need extra room for your belongings, and even look for discounted rates too. Once you have the contents streamlined, use containers and bins from Dollar Tree to get things really organized. Potential buyers will love seeing the potential in your storage areas, and getting organized will make life easier for your family too.
Focus Upgrades on Your Kitchen and Master Bath
If your home is fairly new, you may not need to make any major renovations to help it sell. You should take care of any home repairs before you list it, especially ones that are visible. You can typically do small repairs yourself to save money and find discounts for any tools needed. If you do want to make some upgrades to help your home sell, focus your efforts on the kitchen and master bathroom. These are the rooms potential buyers pay attention to the most. You can pick up new hardware for cabinets at retailers like World Market, and also earn savings and rewards. When a big change is in order, try researching online to get the best price from contractors.
Getting your house ready to sell doesn’t have to take time or money away from your family. With some simple tasks, you can successfully stage your home and make sure buyers want to make an offer ASAP.
Photo Credit: Unsplash!--endfragment-->
Barely budging against imbalanced inventory, existing-home sales slipped at the start of summer, the National Association of REALTORS® (NAR) reports. Activity in June declined 0.6 percent to 5.38 million, down 2.2 percent from the prior year; however, inventory increased 4.3 percent to 1.95 million, and is 0.5 percent higher than the prior year—the first increase year-over-year since June 2015.
“It’s important to note that despite the modest year-over-year rise in inventory, the current level is far from what’s needed to satisfy demand levels,” says Lawrence Yun, chief economist at NAR. “Furthermore, it remains to be seen if this modest increase will stick, given the fact that the robust economy is bringing more interested buyers into the market, and new-home construction is failing to keep up.
“There continues to be a mismatch since the spring between the growing level of homebuyer demand in most of the country in relation to the actual pace of home sales, which are declining,” Yun says. “The root cause is without a doubt the severe housing shortage that is not releasing its grip on the nation’s housing market. What is for sale in most areas is going under contract very fast, and, in many cases, has multiple offers. This dynamic is keeping home price growth elevated, pricing out would-be buyers and ultimately slowing sales.”
Currently, inventory is at a 4.3-month supply. In June, existing homes averaged 26 days on market, two days less than the prior year. All told, 58 percent of homes sold were on the market for less than one month.
In June, the metropolitan areas with the fewest days on market and the most realtor.com® views, according to realtor.com’s Market Hotness Index, were Midland, Texas; Columbus, Ohio; Boston-Cambridge-Newton, Mass.; Fort Wayne, Ind.; and Boise City, Idaho.
The median existing-home price for all house types (single-family, condo, co-op and townhome) was $276,900, a 5.2 percent increase from the prior year. The median price of an existing single-family home was $279,300, while the median price for an existing condo was $258,100.
Existing-home sales in the single-family space came in at 4.76 million in June, a 0.6 percent decrease from the 4.79 million in May, and a 2.3 percent decrease from the 4.87 million the prior year. Existing-condo and -co-op sales came in at 620,000, no different from May, but a 1.6 percent decrease from the prior year.
Twenty-two percent of existing-home sales in June were all-cash, with 13 percent by individual investors. Three percent were distressed.
Two of the four major regions in the U.S. experienced higher sales: the Midwest, increasing 0.8 percent to 1.27 million, at a median $218,800; and the Northeast, increasing 5.9 percent to 720,000, at a median $305,900. There were no gains in the South and the West, with sales in the South down 2.2 percent to 2.25 million, at a median $237,500, and sales in the West down 2.6 percent to 1.14 million, at a median $417,400.
Additionally, first-time homebuyers comprised 31 percent of existing-home sales, no different from May.
“REALTORS® throughout the country continue to stress that there’s considerable pent-up demand for buying a home among the millennial households in their market,” says Yun. “Unfortunately, they’re just not making meaningful ground, and continue to be held back by too few choices in their price range, and thereby missing out on homeownership and wealth gains.”
“The modest uptick in new listings last month is perhaps good news for would-be buyers who are still in the market after a highly competitive spring buying season,” says NAR President Elizabeth Mendenhall. “As summer winds down, the number of home shoppers begins to decrease. Listings are still scarce—especially for entry-level homes—but patience may yield a positive result for those looking to buy in the months ahead.”
For more information, please visit www.nar.realtor.
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