In this article, I will cover what is happening in the Kissimmee housing market. And 4 tips to help you sell your house in today's market.
Let's go back and remember. We have suffered through a historic pandemic that has changed our lives forever.
Here in Florida, we had the Great COVID migration; as I call it, we were busy. People from other states were moving here by the thousands.
There were only a few homes for sale, and developers could not build homes fast enough.
Bidding wars were a usual trend; if you decided to ask $50,000 over the appraised value, a motivated buyer paid for it.
A cozy home for sale with original features at above market value, and somebody bought it. No questions asked.
Some buyers even waived inspections, which is a big no-no. But they did.
Buyers wanted a home and were willing to do what it took to get it.
That was the housing market here in Kissimmee and the surrounding areas. There is no doubt sellers had the upper hand.
Here is what's happening in the housing market today.
Things are changing; the increase in interest rates means fewer buyers, and the active buyers have to adjust their purchase price.
We are seeing dozens of homes available for sale come to market every day. This means you may have competition if you put your property on the market. Nothing new; this is what a regular housing market looks like.
You can still sell your home at a fair market value but getting an offer can take days or weeks.
Expect buyers to negotiate, but they will not drop conditions or pay above fair market value.
Since there's competition, a strong marketing strategy is necessary if you want to sell your home for the best price.
If you consider selling your home today, things will look slightly different. But don't worry; I will share with you 4 tips that will help you sell your house in today's market.
Tip #1 Know Your Numbers: How Much Money Will You Walk Away With?
Let's talk about your net profit. The amount of money you will get after all the closing fees and mortgage payoff (if you have one).
Here are the closing fees involved in a real estate transaction:
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Title insurance
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Lien search
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Title Search
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Title Company Fee
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Brokerage Compensation
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HOA Estoppel Fee
Figuring out your numbers from the get-go will let you know if a move is right for you.
As a realtor, I provide a net sheet with the breakdown of the fees
including your mortgage payoff.
Tip #2 Get Professional Help: Hire a Local Realtor
If you're thinking about selling your home. I encourage you to hire a local real estate professional.
And when I say local, I mean they can be from the next town over someone who knows your neighborhood.
I'm not talking about realtors on the other side of the state, like South Florida. No, we're talking about people here in Central Florida. Realtors in Kissimmee, St. Cloud, Orlando, Windermere, Winter Garden, or Davenport.
Why is that so important?
Because we know the local market trends and who the buyers for your home are. We know the areas well.
Now more than ever, you will need the expertise of a local realtor to get your property sold.
Now is when the realtor's experience can be most beneficial to you when selling a home.
We will use different strategies from our marketing toolbox to sell your home.
A strategy that gets you offers is what you want when you have competition.
Tip 3# Prepare to Impress: How to Prepare Your Home When You Have Competition
What can you do to get your property to stand out?
I'm always recommending my customers start with the 3D plan.
It's straightforward!
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1 Declutter
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2 Deep clean
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3 Depersonalize
Doing this easy plan is a great start.
Do you have an allowance for updates and upgrades?
You can start with Light fixtures, Bathrooms Vanities, New Appliances and a fresh coat of paint inside and out. Do systems maintenance.
My advice is that if you do this, do it well. Hire a company that does quality work.
Pro-Tip:
Keep the permits, receipts, and invoices from the companies involved with the project. Ask what kind of warranty they will give the new owner after you sell the property.
Tip #4 The Marketing of Your Property
Now we're moving on to what the realtor will do to sell your property.
You want to see what their marketing plan is to sell your home.
Are they going to do professional photos, videos, social media, blogs, and property websites?
What will they do to promote your property and get interested buyers through the door?
What are they going to do to get you offers?
You want to have a solid marketing plan before you put your property on the market.
Selling your home post covid will have a different dynamic. But with the help of a local realtor with a solid marketing plan, you will see your property in no time.
Key Takeaways:
The housing market in Kissimmee is changing, but that doesn't mean it is the wrong time to sell. Just gather information and have realistic expectations of how much you can get for your property, know your numbers, and how long it will take to close.
Getting a qualified buyer will take effort, but if you prepare and partner with the right agent, you can sell your home.
P.S. If you are selling your home soon, get a consultation. No strings attached; here's my cell phone number 321.697.2426. I'm Jury Hernandez, a local real estate professional working in the Kissimmee and surrounding areas.
