Moving to Sacramento: 11 Reasons Why It’s the Right Choice

Purchasing a forever home is one of the most significant investments you'll ever make. Unlike a starter home or a short-term rental, a forever home is a place where you envision putting down roots, creating lasting memories, and adapting to the changes life will inevitably bring. But how do you ensure the home you buy today will still suit your needs years—or even decades—down the line? In this article, we'll explore the essential factors to consider when buying a forever home to help you make a smart, future-proof decision. 1. Location: Think Long-Term Convenience and Appeal The old adage “location, location, location” has stuck around for a reason. While you may love the area where you’re buying now, consider how it will evolve as your lifestyle changes. School Districts: Even if you don’t have kids yet, being in a reputable school district can boost home value and future marketability. Commute Times: Will the home's location make daily travel to work, schools, or community centers manageable as your career or interests change? Amenities: Proximity to grocery stores, parks, healthcare facilities, and recreational activities will matter both now and as you age. Neighborhood Growth: Research the area’s growth trends. A bustling, developing neighborhood might offer opportunities for increased home value, while established areas can offer long-term stability. 2. Home Layout: Plan for Lifelong Comfort and Flexibility When choosing your forever home, the layout should not only meet your current preferences but also be adaptable for the future. Single-Level Living: A home with main-level living areas (kitchen, living room, and at least one bedroom and bathroom) may help you age in place comfortably. Open Floor Plans: Open, versatile spaces make it easier to adapt your home as your needs change over the years. Future-Proof Rooms: Look for rooms that can be multi-functional. A spare bedroom could one day become a home office, gym, or guest suite. Accessibility Considerations: Even if mobility isn’t a concern now, features like wide hallways, step-free entries, and walk-in showers are worth considering for future convenience. 3. Storage Space: Planning for Growth Over the years, possessions accumulate. Extra storage capacity—think spacious closets, an attic, or a basement—can save you from headaches later. Seasonal Items: Is there a place to store holiday decorations or sports equipment? Future Additions: If your family grows, you’ll need space for baby gear, toys, and other essentials. Garage and Outdoor Storage: Pay attention to garages, sheds, and other exterior storage areas for tools, bikes, or gardening supplies. 4. Outdoor Space: Think Beyond the Present A well-planned yard or outdoor area can enhance your quality of life for decades. Think about how you might want to use the space in the long term. Kids and Pets: If you have or plan to have kids or pets, is there enough room to play safely? Is the yard fully fenced? Gardening: Green thumbs may want space for gardening or landscaping projects as hobbies evolve. Entertaining: A forever home with a patio or deck can accommodate outdoor gatherings with friends and family. 5. Future Investments: Energy Efficiency and Sustainability Upgrading a home down the line can be expensive, so looking for energy-efficient and sustainable features now can be a smart move. Energy-Saving Features: Solar panels, high-efficiency windows, and modern insulation can save money on energy bills in the long term. Quality Materials: Homes with durable construction materials and features that require minimal maintenance will save you stress and money. Technology: Consider whether the home offers potential for smart home integration. Automated systems (security, lighting, etc.) can streamline your life. 6. Resale Value: Stay Prepared for the Unexpected Even though this is your forever home, life sometimes takes unexpected turns. Job relocations, family changes, or other circumstances might lead you to sell. For that reason: Avoid Over-Personalization: While it’s tempting to customize your new home, keeping neutral designs can help with resale potential. Research Comparable Homes: Study the resale price of similar homes in the area to ensure your investment won’t depreciate. FAQs About Buying a Forever Home 1. What is the difference between a “starter home” and a “forever home”? A starter home is often a smaller, more affordable property meant for early stages of life, while a forever home is a long-term residence chosen for adaptability and comfort over time. 2. How much should I budget for my forever home? Budgeting for a forever home should include not only the purchase price but also maintenance, future upgrades, and unplanned expenses. Work with a financial advisor to determine how much you can comfortably invest. 3. Is it better to build or buy a forever home? Both options have pros and cons. Building allows for custom features but can be costly and time-intensive. Buying an existing home offers immediate occupancy but may require remodeling to fit your long-term needs. 4. What renovations can future-proof my forever home? Renovations like adding a main-floor bedroom and bathroom, upgrading energy systems, or enhancing accessibility features can make your home more adaptable for the future. Closing Thoughts: Finding Your Forever Home Buying a forever home isn’t about finding the most luxurious property—it’s about finding a place that evolves alongside you and your family. By considering location, layout, storage, and long-term functionality, you can ensure your purchase is not only a wise investment but also a source of lifelong happiness. Take the time to plan for the future and prioritize what truly matters to you. With careful thought and preparation, you can find a home where memories are made, milestones are celebrated, and every chapter of life is welcomed with open arms. I'm here to help! Are you ready to start your journey toward the perfect forever home? Let's take a closer look at your priorities and start exploring homes that match your vision. Together, we can make your dream home a reality!

With home prices and rates still relatively high, securing a mortgage can feel daunting––even to the most experienced borrowers. But don't let that deter you: If other homebuyers' experiences are any indication, odds are you'll eventually find a home loan that works well for you. In fact, most U.S. homeowners say they're satisfied with the mortgage they received, according to a recent Bankrate survey. The vast majority of the surveyed homeowners (69%) said they'd buy their current home again if they had a do-over.1 The key to finding the right home loan for you is to look for one that you’ll feel comfortable with long after you've closed on your new property. In addition to comparing term lengths and mortgage rates, also consider how the loan will fit your daily life and preferences. For example, we recommend asking yourself questions such as: Are you a natural risk taker, or do you prefer firm plans and predictability? Can you afford a bigger mortgage payment if interest rates increase, or are your anticipated home expenses already stretching your monthly budget? To help you get started, we've rounded up four of the most important factors to consider when narrowing your list of potential mortgage options. 1. Your Credit Score That three-digit number that credit scoring companies like VantageScore and FICO assign not only influences your interest rate, but it also helps determine the type of mortgage you can get. To secure a conventional mortgage from a major bank or credit union, you'll typically need a FICO score of at least 620. But some mortgage types require even higher credit scores.2 For example, to qualify for a U.S. Department of Agriculture (USDA) loan to buy a qualifying rural property, you'll need a minimum FICO score of 640. Or, if you're seeking a supersized loan, such as a jumbo mortgage (which are home loans above $766,500 to $1,149,825, depending on where you buy the home), you may need a FICO score of at least 700 or more.2 You still have options, though, if your credit score is lower. You may be able to get a Federal Housing Administration (FHA) loan with a 580 credit score if you have enough cash saved for at least a 3.5% down payment. And if you have at least a 10% down payment, you may qualify even if your score is in the 500 to 579 range. Alternatively, if you're a military service member, veteran or spouse, you may be able to get a U.S. Department of Veterans Affairs (VA) loan with little or no money down with a credit score in the 580 to 620 range.2,3 Some regional banks and credit unions may also be more flexible than others with minimum required credit scores.4 But if you can afford to wait, you may be better off paying down your debt first so your score can improve. The interest you save with a more competitively priced loan could enable you to buy a more desirable home. 

Last December, when the Federal Reserve projected a series of benchmark rate cuts in the coming year, some analysts speculated that mortgage rates—which had recently peaked near 8%—would fall closer to 6% by mid-2024.1,2,3 Unfortunately, persistent inflation has delayed the central bank’s timeline and kept the average 30-year mortgage rate hovering around 7% so far this year.2 While elevated mortgage rates have continued to dampen the pace of home sales and affordability, there have been some positive developments for frustrated homebuyers. Nationwide, the inventory shortage is starting to ease, and an uptick in starter homes coming on the market has helped to slow the median home price growth rate, presenting some relief to cash-strapped buyers.4 There are also signs that sellers are adjusting to the higher rate environment, as a growing number list their properties for sale.4 Still, economists say a persistent housing deficit—combined with tighter lending standards and historically high levels of home equity—will help keep the market stable.5 What does that mean for you? Read on for our take on this year's most important real estate news and get a sneak peek into what analysts predict is around the corner for 2024. MORTGAGE RATE CUTS WILL TAKE LONGER THAN EXPECTED At its most recent meeting on May 1, the Federal Reserve announced that it would keep its overnight rate at a 23-year high in response to the latest, still-elevated inflation numbers.6 While mortgage rates aren’t directly tied to the federal funds rate, they do tend to move in tandem. So, while expected, the Fed’s announcement was further proof that a meaningful decline in mortgage rates—and a subsequent real estate market rebound—is farther off than many experts predicted. “The housing market has always been interest rate sensitive. When rates go up, we tend to see less activity,” explained Realtor.com chief economist Danielle Hale in a recent article. “The housing market is even more rate sensitive now because many people are locked into low mortgage rates and because first-time buyers are really stretched by high prices and borrowing costs.”7 Many experts now speculate that the first benchmark rate cut will come no sooner than September, so homebuyers hoping for a cheaper mortgage will have to remain patient. “We’re not likely to see mortgage rates decline significantly until after the Fed makes its first cut; and the longer it takes for that to happen, the less likely it is that we’ll see rates much below 6.5% by the end of the year,” predicted Rick Sharga, CEO at CJ Patrick Company, in a May interview.

The peak moving season is upon us. In fact, according to Move.com , almost 70% of U.S. moves occur between May and September.1 And while the percentage of Americans who move each year has declined, the desire to relocate remains strong.2,3 In fact, Architectural Digest recently declared “Americans are restless” after a survey found that 55% of adults “are moving, plan to move, or want to move” in 2024. The top reasons included: increased affordability; desire for safety; and closer proximity to work, family, or friends.3 If you’re one of those millions of Americans yearning for a change, this guide is for you. Sure, moving can feel overwhelming, and it’s notoriously stressful. But, we’ve outlined six steps to make your move easier. Our hope is to alleviate some of the hassle of relocating—so you can focus on the adventure ahead! 1. CHOOSE A COMMUNITY When planning a relocation, one of the first things you’ll need to decide is where you want to live. This could be as broad as an area of town, or you might narrow it down to a specific neighborhood. Depending on your priorities, you may want to start with communities that are close to work, friends, family and/or your preferred schools. If you commute, map out the route and check on the availability of public transportation, if you plan to use it. Then, if possible, try out the commute during rush hour to see what it’s like. Next, it’s crucial to consider housing prices and cost of living so you don’t set your sights on an area that you can’t realistically afford. Don’t forget to look up local crime statistics to ensure the community is safe. Finally, visit any neighborhoods you’re considering to gauge the vibe and observe characteristics, like pedestrian accessibility, retail offerings, and population density. Researching the ins and outs of various communities can be a time-consuming and sometimes difficult process, but we’re here to help! Give us a call to discuss your needs and aspirations, and we’d be happy to provide our recommendations of neighborhoods that may be a good fit for you. 2. FIND YOUR NEW HOME Once you’ve chosen an area to settle, the next decision you’ll need to make is whether you want to rent or buy a home. Renting can be a good option if you’re new to town, especially if you’re still saving up for a downpayment or you’re not ready to commit to a permanent location. Benefits include flexibility, less maintenance, and lower upfront costs. But, if you want to avoid multiple moves—and you’re financially able—there’s no reason to delay the benefits of buying a home. Not only has homeownership been shown to increase your quality of life, but it’s also one of the best ways to protect and grow your wealth.4 The value of real estate will typically appreciate over time, and owners can build equity as they pay down their mortgage. Homeowners can also receive federal income tax deductions for mortgage interest and property taxes. But, perhaps most importantly, homeownership offers stability. Property owners aren’t subject to the mercy of their landlords each year. According to Statista, average U.S. rental prices have risen more than 42% in the past 10 years.5In contrast, a fixed-rate mortgage payment doesn’t rise at all. If you decide to purchase a home and you choose us to represent you, you can rest easy knowing that we will be there for you throughout the entire journey, working hard to make the experience as easy and enjoyable as possible. Or, if you’re moving to a new area, we can refer you to a local agent in our network who shares our commitment to client service. For more information about buying a home and a timeline of the home buying process, reach out to request a free copy of our Home Buyer’s Guide.

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When you’ve lived somewhere for many years, it can be tough to say goodbye. But if you (or a loved one) currently have a home that is bigger than necessary or is too high maintenance, it may be time to trade unused square footage for a smaller, more manageable space. Take it from the downsizers who’ve been there: Although living small might require some adjustments, it can also be liberating––especially if you’re in a stage of life where past responsibilities have given way to new possibilities and adventures. In fact, many downsizers report feeling invigorated by the change, according to real estate journalist and author Sheri Koones. “It scares people to think of moving into a smaller space,” said Koones to the Associated Press. “But every single person I interviewed who has made the transition says they are so happy they did.”1 The key is to find somewhere you can live well and move around comfortably, without feeling overly restricted. If you like the idea of aging in place or are already in your golden years, you may also want to look for signs that a new home can conveniently age with you. With that in mind, we recommend focusing your search around three key factors: desired lifestyle, optimal design, and long-term accessibility. Read on for specific tips, then call us for a free consultation. We can help you identify the types of homes that are best suited to living large with less. Do you have a loved one whose housing needs have changed? Share this information to help start a conversation about the benefits of downsizing. DESIRED LIFESTYLE The best part of downsizing is the lifestyle you unlock when you trade square footage for convenience. With fewer chores and home maintenance tasks to worry about, you can instead channel your energy into other pursuits. For example, instead of spending your afternoons working in the yard or cleaning, you can catch up on the news, read a bestseller, start a new craft project, or pursue other hobbies. You may even be able to travel or spend more time with friends and family. Research shows that individuals over the age of 65 report more life satisfaction when they have the opportunity to spend time around children, talk with friends, socialize in community centers, volunteer, or engage in hobbies. But that can be hard to do regularly when you’ve got a home that needs constant attention or you live far from your community.2 As you compare potential homes, keep in mind the type of lifestyle you envision. Do you plan to travel? If so, a home with extra security, such as a condominium or gated community, may give you some welcome peace of mind. Or do you plan to have friends and family stay overnight? In that case, you may want to look for a floor plan with flex space or a property that has access to separate guest suites. Alternatively, a senior community that offers catered meals and housekeeping may be a better choice if you or a spouse need extra support. Action item: Grab a pen and take some time to envision what your ideal future might look like. Write down the activities and hobbies you hope to add to your life or continue with going forward, as well as the chores and responsibilities you’d love to drop. We can use those answers to help shape your house hunt.

One of the best parts of owning a home is the freedom to make it truly your own with design choices that reflect your personality and lifestyle. Whether you lean toward contemporary design or a farmhouse aesthetic, your home is your canvas. Even so, it’s always smart to think about the long-term impact those decisions might have on your home’s value. Choosing over-personalized or unpopular materials and finishes could make your home less appealing to future buyers. And selecting out-of-style or overly-trendy elements could cause your home to feel dated quickly. To help inspire your design choices, we’ve rounded up some of the top trends we’re watching in 2024. Keep in mind, not all of these will work well in every house. If you plan to list or renovate your property, give us a call. We can help you realize your vision and maximize the impact of your investment. 

A growing share of home buyers and sellers sat on the sidelines last year as the pace of home sales continued its downward trajectory. 1 In fact, since the Federal Reserve began its series of interest rate hikes in 2022, the combination of higher borrowing costs and record-high home prices has fostered the steepest real estate market slowdown since the 2008 recession. 2 Priced out of the market, a generation of would-be buyers has been forced to delay their plans for homeownership. 3 At the same time, current owners—reluctant to give up their pandemic-era mortgage rates—are waiting to sell, which has resulted in a sharp drop in listings. 4 But there may be some relief in sight: In December, the Fed signaled that it was done raising interest rates—and suggested that it could cut rates by 0.75% over the coming year. While mortgages don’t directly follow the federal funds rate, they typically move in tandem—so cheaper home loans may finally be on the horizon. 5 Lower mortgage rates should bring some much-needed movement back into the real estate sector. But with a market this fluid, the home buyers and sellers with an edge will be those who proactively leverage a real estate agent’s on-the-ground expertise and stay flexible so that they can quickly adapt to changes. What does that mean for you? Read on to learn more about the current state of the U.S. housing market, the potential opportunities for buyers and sellers, and economists’ predictions for the year ahead. HOME PRICES WILL REMAIN RELATIVELY STABLE Not even 8% mortgage rates could bring home prices crashing down in 2023, as some prospective home buyers may have hoped. In fact, on average, U.S. property values ended the year higher—with declines in some areas of the country offset by appreciation in others.6 Prices typically fall when rising interest rates drive down demand. So what’s keeping home values high? Mike Simonsen at Altos Research points to a nationwide housing shortage: “Declining home prices probably require that supply-and-demand imbalance, and what we have is really a balance. There's a balance between low demand and low supply.”7 Analysts expect that equilibrium to continue to prop up home prices in 2024, although the specific forecasts vary. For example, economists at Realtor.com predict that the median home price will fall slightly, by 1.7%, while those at Fannie Mae project modest price growth of 2.8%.6,8 However, experts widely agree: Mortgage rates will be the largest driver of property values. If rates fall faster than expected, more buyers will enter the market—which could send home prices soaring higher. What does it mean for you? There’s no evidence that home prices are headed for a major decline. So if you’re ready and able to afford a home, this is a great time to test the waters. The best bargains are often found in a slower market, like the one we’re experiencing right now. Contact us to discuss your goals and budget. We can help you make an informed decision about the right time to buy.And if you’ve been waiting to sell your home, this could be your year. Price growth has slowed, so now is the time to maximize your equity gains while minimizing your competition. Contact us for recommendations and to find out what your home could sell for in today’s market. MORTGAGE RATES SHOULD FINALLY TREND DOWN The best news we've got incoming for 2024? The extra-high mortgage rates that have weighed heavily on the real estate market may finally be headed south. At its December meeting, the Fed signaled that the worst is likely behind us and that it expects to cut its overnight rate in 2024. Analysts predict that mortgage rates will fall in lockstep.5 “Given inflation continues to decelerate and the Federal Reserve Board’s current expectations that they will lower the federal funds target rate next year, we likely will see a gradual thawing of the housing market in the new year,” said Freddie Mac’s Chief Economist Sam Khater following the announcement.9 The average 30-year fixed mortgage rate has already declined from an October high of around 8%, and analysts at Fannie Mae, the Mortgage Bankers Association, and Realtor.com all forecast that rates will trend down this year, ending 2024 closer to 6%.7 However, it’s not all good news: It appears that the days of 3% mortgage rates are firmly behind us. “As long as the economy continues to motor along, the new normal of higher rates is here to stay,” explains Greg McBride, chief financial analyst for Bankrate.4 So, when it comes to a home loan, borrowers may need to adjust their expectations. What does it mean for you? If you're a prospective home buyer, declining mortgage rates could give you the opportunity to lock in a more affordable monthly payment. And if you purchase before the market reheats, you could secure an especially good deal. To find the lowest rate, it pays to compare lenders. Ask us to refer you to a mortgage broker who can help you shop around for the best option.Sellers also have reason to celebrate buyers' lower interest rates: As the barriers to entry to the housing market decline, they could enjoy more or better offers. Reach out to discuss how we can help you maximize your home’s sales potential. LOWER RATES WILL BRING SOME BUYERS AND SELLERS BACK TO THE MARKET Over the past couple of years, higher mortgage rates have cooled home buyer demand. They’ve also delayed the plans of many home sellers, who have been reluctant to trade in their current mortgages for loans that are several points higher. With so many market participants playing the waiting game, the real estate sector has slowed significantly. National Association of Realtors (NAR) Chief Economist Lawrence Yun estimates that the number of existing home sales fell by 18% last year following a 17% decline in 2022.10 However, as financing costs tick down, sales volume is expected to rise. “Lower mortgage rates would help spur home sales activity, which [is] expected to increase in 2024 compared to 2023,” explains Selma Hepp, chief economist at CoreLogic. “Declines in mortgage rates will drive more sellers to trade their existing home and help add much-needed inventory to the market, leading to more transactions.”4 There’s also evidence that the patience of holdout home buyers may be waning, despite higher borrowing costs. A recent survey by Bank of America found that the number who are willing to wait for prices or mortgage rates to decline before making a purchase fell from 85% to 62% in just six months.11 “When it comes down to it, if buying a home is your goal and within your budget, the best time to buy is when you're ready financially and you can find a home that fits your needs,” Matt Vernon, head of consumer lending at Bank of America, advised in a recent release. “Even in the current interest rate environment, there are clear benefits to purchasing a home and beginning to build equity.”11 What does it mean for you? If you’ve been waiting to buy a home, you might want to consider purchasing before the competition picks up. Pent-up demand could bring a flood of buyers back into the market as mortgage rates decline. Contact us if you’re ready to begin your home search.If you’re hoping to sell this year, you may also want to act fast. An increase in listings will make it harder for your home to stand out. We can help you chart the best course to maximize your profits, starting with a professional assessment of your home’s current market value. Reach out to schedule a free consultation. THE HOUSING SUPPLY SHORTAGE WILL PERSIST Will home buyers who are eager for options have more homes to choose from this year? Yun thinks so. He believes sellers will soon grow weary of waiting to list. “Pent-up sellers cannot wait any longer. People will begin to say, ‘life goes on,’” the NAR economist speculated at a November conference. “Listings will steadily show up, and new home sales will continue to do well.”10 But not everyone agrees. Economists at Realtor.com forecast that inventory could drop by as much as 14% this year. The decline in existing homes for sale has been compounded by a persistent shortage of new construction, with single-family housing starts falling 10.3% in 2023 and 11.2% in 2022.6 Even so, newly-built homes are playing an increased role in easing the supply crunch, accounting for around one-third of all homes for sale in 2023—which was twice the historical average.12 But new construction alone isn’t expected to fill the inventory gap. According to First American Financial Corporation’s Chief Economist Mark Fleming, the U.S. currently has a shortfall of around one million homes, and conditions won’t ease until individual owners re-enter the market. “Only when more homeowners decide to sell, and then buy again, will housing supply and the pace of sales return to anything resembling normal.”13 What does it mean for you? Inventory remains tight, but buyers can benefit from the search expertise of a real estate professional. We can tap our extensive network to access off-market and pre-market listings while helping you explore both new construction and existing homes in our area.While sellers will continue to benefit from the low-inventory environment, they should be prepared to compete against brand-new homes. We can help you prep your property for the market and highlight the features most likely to appeal to today’s buyers. WE'RE HERE TO GUIDE YOU While national real estate forecasts can give you a “big picture” outlook, real estate is local. And as local market experts, we know what's most likely to impact sales and drive home values in your neighborhood. As a trusted partner in your real estate journey, we'll keep our ears to the ground so that we can guide you through the market's twists and turns. If you’re considering buying or selling a home in 2024, contact us now to schedule a free consultation. Let’s work together and craft an action plan to meet your real estate goals. The above references an opinion and is for informational purposes only. It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs. Sources:CNN - https://www.cnn.com/2023/10/19/homes/existing-home-sales-september/index.html Goldman Sachs - https://www.gspublishing.com/content/research/en/reports/2023/10/23/2d814362-a656-4cb3-8586-bea8591188e3.html ABC News - https://abcnews.go.com/US/millennials-priced-homeownership-feeling-pressure/story?id=105032436 Bankrate - https://www.bankrate.com/real-estate/housing-market-2024/ CBS News - https://www.cbsnews.com/news/interest-rates-are-paused-heres-why-thats-good-news-for-homebuyers/ Realtor.com - https://www.realtor.com/research/2024-national-housing-forecast NerdWallet - https://www.nerdwallet.com/article/mortgages/2024-homebuying-trends-property-line-november-2023 Fast Company - https://www.fastcompany.com/90991612/home-price-2024-outlook-fannie-mae Freddie Mac - https://freddiemac.gcs-web.com/news-releases/news-release-details/mortgage-rates-drop-below-seven-percent National Association of Realtors - https://www.nar.realtor/newsroom/nar-chief-economist-lawrence-yun-forecasts-existing-home-sales-will-rise-by-15-percent-next-year Bank of America - https://newsroom.bankofamerica.com/content/newsroom/press-releases/2023/12/bofa-report-shows-fewer-prospective-homebuyers-willing-to-wait-f.html Marketplace - https://www.marketplace.org/2023/11/27/mortgage-rates-new-home-sales/ First American - q https://blog.firstam.com/economics/whats-the-outlook-for-the-housing-market-in-2024

Not long ago, home sellers were in their heyday, as historically-low mortgage rates triggered a real estate buying frenzy. However, the Federal Reserve shut down the party when it began raising interest rates last year.1 Now, it’s not as simple to sell a home. While pandemic-era homebuyers were racing the clock—trying to lock in a low mortgage rate and gain a foothold in the market—current buyers are more discerning. Higher prices and mortgage rates have pushed their limits of affordability, leading them to prioritize cost, condition, and overall value.2 The reality is, home inventory remains low, so most properties will still sell with some basic prep, the right price, and a good real estate agent. But owners who go the extra mile are more likely to sell faster and for a higher amount. If you have plans to sell your home and want to net the most money possible, this list is for you. Here are our top seven strategies to attract the best offers and maximize your real estate returns. 1. UNDERGO A PRE-LISTING INSPECTION Many homebuyers hire a professional to complete a home inspection before they close. But did you know that a seller can order their own inspection, known as a pre-listing inspection, before they put their home on the market? Having a pre-listing inspection on hand and ready to share shows interested buyers that you’re committed to a transparent transaction. This can help you market your home, strengthen your negotiating position, and minimize roadblocks to closing.3 Of course, it’s always possible that a pre-listing inspection—which looks at the home’s major systems and structures, among other things—could turn up a significant problem. This does carry some risk, as you’ll be required to either fix or disclose any issues to potential buyers. However, in most cases, it’s better to know about and address deficiencies upfront than to find out mid-transaction, when it could cost you more in the form of concessions, a delayed closing, or a canceled sale. We can help you decide if a pre-listing inspection is right for you. And if it identifies any concerns, we can advise on which items need attention before you list your home. 2. CONSIDER STRATEGIC UPGRADES Embarking on major renovations before putting your home on the market doesn’t always make financial (or logistical) sense. However, certain upgrades are more likely to pay off and can help elevate your home in the eyes of buyers. For example, refinishing hardwood floors results in an average 147% return on investment at resale and new garage doors typically pay for themselves.4 Similarly, research shows that professional landscaping can boost a home’s value by as much as 20%.5 Often, even simpler and less expensive fixes can make a big difference in how your home comes across to buyers. A fresh coat of paint in a neutral color, modern light fixtures and hardware, and new caulk around the tub or shower can help your property look its best.5 But before you make any changes to your home, reach out. We know what buyers in your neighborhood are looking for and can help you decide if a particular investment is worthwhile. 3. HIRE A HOME STAGER To get standout offers, you need potential buyers to fall in love with your home—and they’re much more likely to do so if they can envision themselves in the space. That’s where home staging comes in. Staging can include everything from decluttering and packing away personal items to bringing in neutral furniture and accessories for showings and open houses. According to the National Association of Realtors, home staging can both increase the dollar value of home offers and help a property sell faster. In fact, 53% of seller’s agents agree that staging decreases the amount of time a home spends on the market, and 44% of buyer’s agents see higher offers for staged homes.6 There’s plenty of strategy and research behind the process, so it’s smart to consider a professional. Reach out for a connection to one of our recommended home stagers who can help your property show its full potential. 4. EMPLOY A COMPETITIVE PRICING STRATEGY While it’s tempting to list your property at the highest possible price, that approach can backfire. Homes that are overpriced tend to sit on the market, which can drive away potential buyers—and drive down offers.7 Alternatively, if you price your home competitively, which is either at or slightly below market value, it can be among the nicest that buyers see within their budgets. This can ultimately lead to a higher sales price and fewer concessions. To help you list at the right price, we will do a comparative market analysis, or CMA. This integral piece of research will help us determine an ideal listing price based on the amount that comparable properties have recently sold for in your neighborhood. Without this data, you risk pricing your home too high (and getting no offers) or too low (and leaving money on the table). Combined with our local market insights, we’ll help you find that sweet spot that will attract the best offers while maximizing your profit margin. 5. OFFER BUYER INCENTIVES Sometimes, sweetening the deal with buyer incentives can help you get the best possible offer. Incentives are especially helpful in the current market, when many buyers are struggling with affordability and concerned about their monthly payments. Options that can pay off include: Buying down their interest rate – You can pay an upfront sum to reduce the buyer’s mortgage rate. This approach can save far more than that cost over the life of the loan, meaning it’s worth more to the buyer than a simple price reduction.8 Offering closing cost credits – You might pay a set amount or a certain percentage of the buyer’s closing costs. Paying HOA costs – You could cover homeowner association or condominium fees for a set period of time. Including furniture or appliances in the sale – If your buyer is interested, throwing in the furniture or appliances that they want and need can make your property more appealing. Buyer incentives vary and valuing them can get complicated. We’re happy to talk through the options that might make sense for you. 6. USE A PROVEN PROPERTY MARKETING PLAN Gone are the days when it was enough to put a “for sale” sign in your yard and place a listing on the MLS. A strategic marketing plan is now essential to get your home in front of as many interested and qualified buyers as possible. The truth is, buyers who don’t know about your house can’t make an offer. That’s why we utilize a multi-step approach to marketing that starts with identifying your target audience, effectively positioning your home in the market, and communicating its unique value. We then use a variety of distribution channels to connect with potential buyers and performance-based metrics to monitor and improve our campaign results. Our proven approach can have a big impact on the success of your sale. Reach out to learn more about our multi-step marketing plan and discuss how we can use it to generate interest and offers for your home. 7. WORK WITH AN AGENT WHO UNDERSTANDS YOUR AREA To get the best offers possible, you need a real estate agent who knows your area inside and out. Any agent can pull comparable sales data, but in a quickly-evolving market, even the latest comps can lag the current market reality. We have our fingers on the pulse of the local market because we’re working directly with sellers like you. We also represent local buyers who are active in the market, searching for homes like yours. That puts us in an ideal position to help you price your home for a quick sale and maximum profit. And since we hear first-hand what local buyers want, we can help you prep your home to broaden its appeal and highlight its most-coveted features. Additionally, we can use our extensive network of local agents to solicit feedback and get your home in front of more potential buyers. All of these factors can add up to a significant difference in your profit: In 2021, the typical home sold by owner went for $225,000 compared to a median price of $330,000 for agent-assisted home sales.9 LET’S GET MOVING Are you ready to get a great offer for your home? Our multifaceted approach can help you maximize your real estate returns. Reach out for a free home value assessment and customized sales plan to get started! The above references an opinion and is for informational purposes only. It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs. Sources: U.S. Bank - https://www.usbank.com/investing/financial-perspectives/investing-insights/interest-rates-impact-on-housing-market.html National Association of Realtors - https://www.nar.realtor/sites/default/files/documents/2023-home-buyers-and-sellers-generational-trends-report-03-28-2023.pdf Bankrate - https://www.bankrate.com/real-estate/prelisting-inspection/ National Association of Realtors - https://www.nar.realtor/sites/default/files/documents/2022-remodeling-impact-report-04-19-2022.pdf Bankrate - https://www.bankrate.com/homeownership/landscaping-increase-home-value/ National Association of Realtors - https://www.nar.realtor/infographics/staged-for-success The Balance - https://www.thebalancemoney.com/looking-twice-at-overpriced-homes-1798671 U.S. News & World Report - https://money.usnews.com/loans/mortgages/articles/a-guide-to-seller-paid-mortgage-rate-buydowns National Association of Realtors - https://www.nar.realtor/research-and-statistics/quick-real-estate-statistics