I f you’ve been waiting to buy or sell, now is as good a time as ever to go for it. Sellers have plenty of prospects and buyers can seize interest rates that are still historically low, and any rising mortgage rates would have to go a lot higher before most buyers are priced out of the market. You can expect that if you prepare and price your home right, it will sell quickly and for full price or more. But because sellers are usually buyers, too, strategies recommended by Orange Key Realty can help smooth the transition from a home sale to a purchase.
If you are selling your home and then buying, it probably doesn’t make sense to wait for higher prices. While you wait, you pay for your current home and watch the price of your next home — and possibly mortgage rates — rise to offset the potential increase in your current home’s value.
Price it right, therefore, so it will move quicker, and to avoid the frustration of reducing the price. To set the price, you and your Orange Key Realty agent will look at recent comparable sales in your market. It’s smart to visit your competition to see what value they’re offering for the price.
Make your home stand out. “Declutter and make small repairs,” suggests Ofir Hillel, broker/owner of Orange Key Realty. “The more expensive your home, the more sense it makes to invest in staging. Buyers love a home that’s move-in ready and has impressive upgrades. But if you don’t want the hassle of meeting their expectations, price it accordingly. Our sales professionals will walk you through each stage of the way.”
Weigh the offers. If you receive multiple offers from qualified buyers, broker/ owner Michael Matthews suggests going for the cash offer first. “Your Orange Key Realty agent can ask those buyers to begin bidding and that outcome will determine your best offer. If you just bid on a home and need to sell your old one quickly, you will have more protection against the deal failing if you accept a cash offer,” he says.
Orange Key Realty’s staff of sales and broker associates can be reached at either 863 Georges Road, Monmouth Junction (732-297-6969) serving Middlesex County, and 60 E. Main St., Freehold (732-863-6969) serving Monmouth County or go to www.orangekeyrealty.com.