Lake Chelan has a very healthy real estate market, with home prices up 5.1% in July, 2018 compared to June, 2017. This doesn’t mean, however, that home sellers can take it easy and simply wait for the offers to come in after listing their homes. If you want to get top dollar for your property, you need to do your homework and put in the hard work.
Here are some home selling tips to help you succeed in today’s highly-dynamic market.
- Make your home more appealing to millennials
- Add drone images
- Get smart home features
- Price your home correctly
One of the most important developments in real estate today is the impact millennials are making on the market. Millennials are considered the largest purchasing group in the United States today, and Realtor.com predicts they would make up about 43% of homebuyers in 2018. You’d want to make sure your property is as appealing to this group as possible.
Millennials prefer to live in the suburbs – something that works well for Lake Chelan homes. But they also look for walkable communities where amenities are within short distances. If there are nearby restaurants, shopping centers, and other neighborhood hubs in your area, make sure to emphasize that on your listing.
While millennials are choosing smaller homes, they are also attracted to spacious living areas, making an open floor layout highly appealing. If your home has one, play that up on your listing. If not, consider renovating if it’s within your budget.
Millennials also have a preference for green features, such as solar panels, energy-efficient appliances, and the like. Investing in these home improvements can add value to your home and attract millennial homebuyers.
High quality photos are essential to a listing. Videos have also become a popular real estate marketing tool. And with technological advances now becoming more accessible to consumers, drone images are getting widely used in listings, as well. According to Realtor.com, real estate might account for 22% of commercial drone use by 2020.
Drone images are particularly valuable for larger homes with expansive, landscaped yards. They are also a great way of showing off a lovely natural feature or amenity nearby, such as a lake, park, or golf course. If you have an excellent location, drone photography can also be used to highlight this on your listing.
If you haven’t done yet, equip your property with smart home features. With everyone hooked to their gadgets these days, smart home features have become a must-have. It’s best to choose a system that works well with major platforms like Google Home or Apple HomePod. Many homebuyers have already invested in gadgets and products using these platforms, so a smart home system that works well with these gadgets will be an added attraction.
An overpriced home can languish even on a seller’s market. The longer the property remains unsold, the more buyers will think there’s something wrong with it. It’s important to price your home correctly from the start. Work with your Realtor who can perform a Market Analysis to determine the most appropriate listing price. The expertise of a real estate professional is especially critical in today’s dynamic market conditions where home prices are impacted by a host of factors, such as low inventory, high demand, and some uncertainty on interest rates.
We at Coldwell Banker Lake Chelan Properties are experienced Realtors who can guide you through the home selling process and make sure you get the best possible profit for your investment. Looking to buy or sell a home in Chelan, Manson, Orondo, Brewster, Pateros, Twisp, or Winthrop, or other nearby communities? Get in touch with Coldwell Banker Lake Chelan Properties at 509-682-7777, or send an email to info(at)cbchelan(dotted)com.