Why It’s Important to Price Your House Right Today

Even in today’s sellers’ market, setting the right price for your house is one of the most valuable things you can do. According to the U.S. Economic Outlook by the National Association of Realtors (NAR), existing home prices nationwide are forecasted to increase by 4.5% in 2021. This means experts anticipate home values will continue climbing next year. Danielle Hale, Chief Economist for realtor.com, notes:

“We expect price gains to ease somewhat in 2021 and end 5.7% above 2020 levels, decelerating steadily through the spring and summer, and then gradually reaccelerating toward the end of the year.”

How to Price Your House

When it comes to setting the right price for your house, the goal is to increase visibility and drive more buyers your way. Instead of trying to win the negotiation with one buyer, you should price your house so that demand is maximized and more buyers want to take a look.

As a seller in today’s market, you might be thinking about pricing your house on the high end while so many of today’s buyers are searching harder than ever just to find a home to purchase. But here’s the thing – a high price tag does not mean you’re going to cash in big on the sale. It’s actually more likely to deter buyers.

Right now, even when there are so few houses for sale, your house is more likely to sit on the market longer or require a price drop that can send buyers running if it isn’t priced just right from the very beginning.It’s important to make sure your house is priced correctly by working with a trusted real estate professional throughout the process. When you price it competitively from the start, you won’t be negotiating with one buyer. Instead, you’ll likely have multiple buyers competing for the house, potentially increasing the final sale price.

The key is to make sure your house is priced to sell immediately. This way, it will be seen by the greatest number of buyers. More than one of them may be interested, and it will be more likely to sell at a competitive price.

Bottom Line

Reach out to a local real estate professional to price your house correctly from the start so you can maximize your exposure and your return.

Souce: Keeping Current Matters | The KCM Crew 12282020

1100 GOOD SPRINGS LOOP Unincorporated, TN 38076

Property Site: http://tour.remax-tennessee.com/home/3EFTBC/1100-GOOD-SPRINGS-LOOP-Unincorporated-TN-10090818

One of a Kind Estate 20 minutes from Collierville~Custom Iron Doors Lead to Outdoor Oasis w/Infinity Pool~Outdoor Kitchen w/Motorized Screen & SS Appliances~Huge Great Room w/Vaulted Ceilings & Wet bar~Stunning Kitchen w/Bamboo Lighted Cabinets & Beautiful Granite Counters~Formal Dining Room w/Built-In Cabinets + Lliving Room w/Granite Fireplace~Amazing Master Suite w/ Fireplace + Incredible Shower w/Private Veranda~Media Room~Full 2BR/2BA Guest House w/Kitchen & Living Space~AND SO MUCH MORE!!

Bedrooms: 6

Bathrooms: 8

Square feet: 8,000

Price: $2,000,000

For more information about this property, please contact Jennifer Carstensen at 901-685-6000 or jennifer@livelovememphis.com. You can also text 6631276 to 67299 (Message and Data Rates May Apply, see terms and privacy policy).

See more listings at: jcarstensen.remax-tennessee.com

MLS ID: 10090818

https://www.facebook.com/jensellsmemphis https://twitter.com/livelovememphis https://www.youtube.com/c/jennifercarstensenmemphisrealestate

287 MATILDA ST Memphis, TN 38117

Property Site: http://tour.remax-tennessee.com/home/A8XKB7/287-MATILDA-ST-Memphis-TN-10090786

Super Cute 3BR/2BA One Story Home in Normandy Meadows~Formal Living Room + Dining Room w/Lots of Natural Light~Huge Great Room Off Kitchen~Spacious Eat-In Kitchen w/Granite Countertops, SS Appliances, Ga Range & Tons of Cabinet Space~Large Master Bedroom w/En-Suite Full Bath~Two Additional Bedrooms + Full Bath~Hardwood Floors Throughout~Wonderful Fenced-In Backyard with Patio~AND MORE!!

Bedrooms: 3

Bathrooms: 2

Square feet: 1,600

Price: $315,000

For more information about this property, please contact Jennifer Carstensen at 901-685-6000 or jennifer@livelovememphis.com. You can also text 6630294 to 67299 (Message and Data Rates May Apply, see terms and privacy policy).

See more listings at: jcarstensen.remax-tennessee.com

MLS ID: 10090786

https://www.facebook.com/jensellsmemphis https://twitter.com/livelovememphis https://www.youtube.com/c/jennifercarstensenmemphisrealestate

3767 KALAMATH CV Memphis, TN 38128

Property Site: http://tour.remax-tennessee.com/home/KSWTBJ/3767-KALAMATH-CV-Memphis-TN-10090779

Great 4BR/1.5BA One Story Home~Large Great Room & Open Eat-In Kitchen w/ Lots of Cabinet Space~Utility/Laundry Room Off Kitchen~Spacious Master Bedroom w/En-Suite Half Bath~Three Additional Bedrooms + Full Bath~Wonderful Fenced-In Backyard~AND MORE!!

Bedrooms: 4

Bathrooms: 2

Square feet: 1,000

Price: $58,000

For more information about this property, please contact Jennifer Carstensen at 901-685-6000 or jennifer@livelovememphis.com. You can also text 6630292 to 67299 (Message and Data Rates May Apply, see terms and privacy policy).

See more listings at: jcarstensen.remax-tennessee.com

MLS ID: 10090779

https://www.facebook.com/jensellsmemphis https://twitter.com/livelovememphis https://www.youtube.com/c/jennifercarstensenmemphisrealestate

6562 SPLIT OAK DR Memphis, TN 38115

Property Site: http://tour.remax-tennessee.com/home/7WSJFS/6562-SPLIT-OAK-DR-Memphis-TN-10090518

Wonderful 3BR/2BA Home on Large Corner Lot~Huge Great Room w/Fireplace~Formal Dining Room w/Lots of Natural Light~Spacious Eat-In Kitchen w/Tons of Cabinet Space~Laundry Room Off Kitchen~Large Master Bedroom Suite w/Luxury Master Bath + 2 Walk-In Closets~Two Additional Spacious Bedrooms + Full Bath~Great Fenced-In Backyard w/Patio~AND MORE!!

Bedrooms: 3

Bathrooms: 2

Square feet: 1,400

Price: $130,000

For more information about this property, please contact Jennifer Carstensen at 901-685-6000 or jennifer@livelovememphis.com. You can also text 6624502 to 67299 (Message and Data Rates May Apply, see terms and privacy policy).

See more listings at: jcarstensen.remax-tennessee.com

MLS ID: 10090518

https://www.facebook.com/jensellsmemphis https://twitter.com/livelovememphis https://www.youtube.com/c/jennifercarstensenmemphisrealestate

3 Reasons to Be Optimistic about Real Estate in 2021

This year will be remembered for many reasons, and optimism is one thing that’s been in short supply since the spring. We’re experiencing a global pandemic, social unrest, an economic downturn, and natural disasters, just to name a few. The challenges brought on by the health crisis have also forced many homeowners to reevaluate their space and what they need in a home going into 2021. So, experts are forecasting that next year is one in which we can be optimistic about real estate for three key reasons.

1. The Economy Is Expected to Continue Improving

Tim Duy from the University of Oregon puts it this way:

“There is nothing fundamentally ‘broken’ in the economy that needs to heal…there was no obvious financial bubble driving excessive activity in any one economic sector when the pandemic hit…With Covid-19 cases surging again, it is understandably hard to look optimistically to the other side of this winter…Don’t let the near-term challenges distract from the economic stage being set for next four years.”

2. Interest Rates Are Projected to Stay Low

In the latest projections from Freddie Mac, interest rates for a 30-year fixed-rate mortgage are expected to remain at or near 3% next year. These low rates will continue to make homes more affordable, driving demand for housing in 2021.

3. Future Home Sales Are Forecasted to Grow

While the economy improves and interest rates remain low, homes are also expected to continue appreciating as more people buy in the coming year. Danielle Hale, Chief Economist at realtor.com, says:

“We expect home sales in 2021 to come in 7.0% above 2020 levels, following a more normal seasonal trend and building momentum through the spring and sustaining the pace in the second half of the year.”

Bottom Line

Experts forecast that buyers and sellers are going to be active in 2021. If you’ve thought about buying or selling your home this year but have held off, now may be the time to take advantage of this market. Reach out to a local real estate expert to take the first step toward your new home today.

Keeping Current Matters | The KCM Crew 12162020

11211 US 64 HWY Memphis, TN 38002

Property Site: http://tour.remax-tennessee.com/home/GMENJK/11211-US-64-HWY-Memphis-TN-10090474

Great Investment Opportunity~New Roof & Carpet~Value is in the Land~3.127 Acres in Prime Location~Currently Zoned Residential~3BR Home on Lot is Currently Tenant Occupied w/Month-to-Month Lease~Do Not Disturb Tenants

Bedrooms: 3

Bathrooms: 1

Square feet: 1,000

Price: $145,000

For more information about this property, please contact Jennifer Carstensen at 901-685-6000 or jennifer@livelovememphis.com. You can also text 6623460 to 67299 (Message and Data Rates May Apply, see terms and privacy policy).

See more listings at: jcarstensen.remax-tennessee.com

MLS ID: 10090474

https://www.facebook.com/jensellsmemphis https://twitter.com/livelovememphis https://www.youtube.com/c/jennifercarstensenmemphisrealestate

A New Way to Shop for Homes in a Virtual World

 

In a year when we’re learning to do so much remotely, homebuying is no exception. From going to work to attending school, grocery shopping, and even seeing our doctors online, digital practices have changed the way we live.

This year, rather than delaying their home purchases, buyers – alongside their trusted real estate professionals – turned to the Internet to do more than just a typical home search. In some cases, they bought homes without even stepping foot inside. Jessica Lautz, Vice President of Demographics and Behavioral Insights at the National Association of Realtors (NAR), says:

“People really didn’t buy houses sight-unseen, traditionally. It’s still not a huge number, but it has gone up, and we have definitely seen that trend accelerate.”

According to NAR, throughout the coronavirus pandemic, one in every 20 homebuyers purchased a house sight-unseen.

How Your Real Estate Agent Will Pave the Way

Today, real estate professionals are using digital practices to help homebuyers and sellers walk through many steps in the process virtually. While following the regulations set forth by the CDC and all local guidelines, this year, agents quickly empowered buyers and sellers with virtual tours, 3D floor plans, high-quality photos, videos, online open houses, and more. For those who had homebuying and selling needs in 2020, trusted advisors made it possible in many markets.

Here’s a graph showing some of the digital options buyers found most helpful in their searches this year, as noted by NAR in the 2020 Profile of Home Buyers and Sellers:

The report also mentions that buyers this year generally searched for eight weeks. Throughout that search, they viewed a median of 9 homes, but not all of them were seen in-person. Yahoo Finance notes:

“Buyers viewed five homes online and four homes in-person during the pandemic, compared to nine homes in-person in 2019, according to NAR. This was the first year NAR asked buyers to specify the number of homes toured virtually.”

In true 2020 fashion, virtual practices helped buyers safely narrow down their top choices, so they didn’t have to unnecessarily walk into more homes than they needed to see throughout the process. Here’s the breakdown by region:

At a time when health and safety are top priorities, current technology is making it possible for buyers and sellers to move their real estate plans forward at their own comfort levels, even through a worldwide pandemic. For many, this means buyers no longer have to physically tour every home they want to see, and sellers don’t need to open their doors over and over again throughout the process. Safety can come first, and trusted real estate professionals are here to help.

Bottom Line

If you’re ready to make a move, you may not have to press pause on your plans this season. Reach out to a local real estate professional to determine the safe and effective options to buy or sell a home in your area or wherever you’re looking to move.

Source: Keeping Current Matters | The KCM Crew 12042020