You may have picked up that the spring marks the beginning of the busy "homebuying" season in the Eastern Panhandle real estate market. However, this year will be just as much about home sellers as it is about buyers. Our last blog post touched on how you can gain an edge when selling your home this spring and now we're here to share when you should start the process.
For years, homeowners in West Virginia have had to compete with distressed properties—foreclosures and short sales—but 2015 will be different. For the most part, the inventory of these properties has fallen drastically in just about every market. These so-called bargain properties are no longer competition among home sellers and in turn, this has pushed up seller timelines for listing.
Now don't get ahead of yourself— that doesn't mean the spring real estate market is free and clear. The new competition for existing home sellers is new construction! The National Association of Realtors Profile of Home Buyers and Sellers reported that 16% of all homes sold last year were newly-constructed properties.
So why would a Jefferson or Berkeley County homebuyer choose new construction over an existing home? These four reasons may give you an idea of how to play to buyer interests when selling your home:
- Avoiding renovations and existing home problems
- Ability to choose and customize design
- Amenities offered by the new construction home community
- Lack of inventory among existing homes
Listing your home now can help address the tight inventory issue and our last blog post gives tips on addressing home improvement projects to catch homebuyer eyes. As always, Kable Team Realty can provide information on how to attract homebuyers to your home in Charles Town, Ranson, Inwood, Shepherdstown, Falling Waters, Harpers Ferry, Martinsburg and Hedgesville this spring.
Do not hesitate to contact us and get a jump on listing your property to beat the competition!
The Kable Team
Kable Team Realty
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