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Like a dating profile, your home’s listing should focus on the best things about it.
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It’s too soon to tell what kind of housing market we’ll be looking at overall this year. 2022 rapidly got worse for buyers, as inventory remained low and mortgage loan interest rates ended up more than doubling between the beginning and the end of the year. And that interest rate spike negatively impacted sellers too. It was bad enough that home prices were elevated thanks to low inventory, higher prices, and lots of competition, but tacking on a mortgage rate of more than 6% was a bridge too far for many potential buyers.
The biggest housing buzzwords of 2022
If you’re looking at selling your home this year and wondering how best to market it in these conditions, we’ve got you covered. Point2 recently released a report on the biggest housing buzzwords of 2022, and there’s a lot of great takeaways for home sellers. Vague descriptions of a home for sale no longer cut it, as digital home shopping has taken over and potential buyers want to view a comprehensive listing before they take the time to see your home in person.
If your home has any of these features, it could work to your advantage to offer detailed descriptions and clear photos of them when you work with your real estate agent to craft your listing.
Patio/porch
Outdoor spaces where you can entertain or just hang out with your family initially gained great importance during the early stages of the COVID-19 pandemic, and as we still cope with the virus, they retain that popularity.
Yard
Got a great front or backyard at home? Consider spending some money on improving your landscaping and make sure your home’s photos include shots of it. Investing in your yard could also net you potential buyers who are just out walking or driving around your neighborhood — curb appeal is everything.
Storage
“Storage” appears on the list both as itself and in the form of the next two sections, so it might pay to really emphasize whatever storage space your home has. Buyers crave space to keep their stuff. For example, my current rental is lacking in decent closets, and when I start looking for a home to buy, I’ll be looking for homes that have a coat closet, linen closet, and perhaps a walk-in closet in at least one bedroom.
Walk-in closet
Yes, “walk-in closet” specifically is on the list of top buzzwords, so if you’ve got them, definitely include photos. If you’ve made improvements to closet spaces (such as by adding built-in organization systems), this will certainly be attractive to buyers as well.
Garage
“Parking” was a major buzzword for condo listings, and for houses, buyers were seeking garages. It makes sense — a garage can represent extra storage for your belongings as well as a place to keep your car out of the weather.
Fireplace
Some home features just never go out of style, and on a cold winter’s day, there’s nothing better than cozying up in front of a fireplace. While this may only be considered a “nice-to-have” feature, rather than a “must have,” if your home has it, make sure potential buyers know about it.
Hardwood floors
Finally, buyers are looking for homes with floors that are easy to clean and care for, and for many people, hardwood fits the bill, especially if you have pets or kids. Carpet gets stained and worn out, and for people with allergies, it can be an absolute nightmare, as it holds onto allergens. If you’ve got beautiful hardwood floors in your home, include a mention of them.
You may be feeling pessimistic about your chances of selling your home for a good price in 2023, but don’t lose hope. While you may not be able to command the inflated sale prices of 2020 or 2021, if you price your home fairly, ensure it’s in good condition, and work with the right real estate agent to create a compelling listing, you’ll be positioned for home-selling success this year.
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