Today we’re going to give you a little update on how the market is doing here in the Main Line. A lot of people have been asking us about this lately, so we wanted to let you know what we’ve been seeing. Right now, we are firmly in a seller’s market. Our current inventory is at about 4.5 months, so every home for sale will take approximately 4.5 months to sell. Anything under 6 months is considered a seller’s market, but we haven’t been this low on inventory in quite some time so it’s creating quite a frenzy. Home sales are down year-over-year by 10%. With low inventory, a lot of it isn’t great as far as condition and price go. That results in less homes being available for buyers to buy.
In this seller’s market, one trend we are seeing that will help buyers out is the turmoil in the Chinese and European economies. When they start to sputter and show weakness, foreign investors invest money into U.S. government bonds. These bonds end up being a base for mortgage rates, and the lower the yields on them are, the lower the rates are. That’s why rates are so low now and buyers can save a ton of money down the road by locking in a rate right now. There’s something in the market for everyone here in the Main Line. If you have any questions for us, give us a call or send us an email. We’d love to hear from you!
When you begin the selling process, you need to prepare your home to look its finest. It all starts with your curb appeal, so be sure to mow your lawn, plant some flowers, and wash your windows. Repainting your front door and power washing your walkways are also good ideas to make your home look its finest. Now let's move to the interior of the home. I’m guessing that you’ve accumulated a lot of stuff while you’ve been living at your home. You need to declutter and clear off your counter space, because empty counters make your home feel very large. Remove any collections of photos or other distracting artwork. My professional stager suggests removing at least half of the objects lying around in your home. A quick walkthrough with us can help you in this process, so contacting us can be very helpful.
The entryway to your home is also very critical. This is what the buyer sees when they initially enter your home, so you want to give off the best possible impression. How does it smell? How does it look? Is it inviting? Hiring a professional stager is a good idea, although some people think it’s not worth the money. However, I’ve seen stagers come in and completely transform homes. Homes that are staged often sell for much more money than homes that are not staged. It doesn’t take much, and the return on this investment can be huge! If you have any further questions about this, please don’t hesitate to contact me. I know a few good stagers that I would be willing to recommend to you. I look forward to hearing from you!
