Helpful Facts For You
There are those of us who love looking at homes and daydreaming about buying a home that would better suit our lifestyle. There are also those thinking about selling a home which can stir up feelings of excitement and uncertainty. Whichever category you are falling into, it can be useful to know what is trending in real estate. Here are 7 practical facts to know before your next, big move.
1. Staging – Making the emotional connection between a buyer and prospective home can be achieved successfully with staging. A recent survey from the International Association of Home Staging Professionals (IAHSP) shows that staging helps a home sell 3 to 30 times faster while increasing the sale price by up to 20%.
2. Using a Realtor – “The typical FSBO (for sale by owner) home sold for $225,000 compared to $330,000 for agent-assisted home sales.” per NAR 2022 Profile of Home Buyers and Sellers report. That is a 32% potential gain when using a Realtor. By going through a licensed realtor for a home purchase and/or sale, you have a professional who knows the ins-and-outs while advocating for you.
3. Smart Home Devices – People want smarter homes because it improves the quality of their lives. It provides common benefits such as convenience, safety, and enjoyment. A study from security.org shows that 7 in 10 homebuyers are looking for a smart home, and 78% of them are willing to pay more for a home with smart devices.
4. Detached Homes – From the National Association of Realtors (NAR) annual study for 2022, 79% of homebuyers want a single-family, detached home. Lots of positives come with a detached home such as privacy, a nice yard, and freedom to renovate your property.
5. Final Sales Price = Final Listing Price – “For recently sold homes, the final sales price was a median of 100% of the final listing price, the highest recorded since 2002.” – NAR 2022. The market may be cooling but it is still a good time for homeowners looking to sell.
6. Previously Owned Homes Win – Not everyone is looking for a brand-new build. 88% of buyers purchased a previously owned home showing demand is strong. NAR 2022
7. Average Home Price in California is $816,804 – While this is no surprise that California has one of the highest average home prices, it is not the highest. Hawaii has an average home price of $1,038,544. Both are higher than the US average home price at $428,700 based on the first quarter of 2022.
An interesting bonus fact is the greater Tahoe Basin is so expansive that it covers two states, five counties, one city and plenty of smaller towns. I know all the territory and would love the opportunity to help you find your dream home. If you’re interested in selling, let’s put some of these practical facts to use. Reach out to me anytime.