How To List Your Home for the Best Price
If your plan for 2019 includes selling your home, you will want to pay attention to where experts believe home values are headed. According to the latest Home Price Index from CoreLogic, home prices increased by 4.7% over the course of 2018.
The map below shows the results of the latest index by state.
Real estate is local. Each state appreciates at different levels. The majority of the country saw at least a 2.0% gain in home values, while some residents in North Dakota and Louisiana may have felt prices slow slightly.
This effect will be short lived. In the same report, CoreLogic forecasts that every state in the Union will experience at least 2.0% appreciation, with the majority of the country gaining at least 4.0%! The prediction for the country comes in at 4.6%. For a median-priced home, that translates to over $14,000 in additional equity next year! (The map below shows the forecast by state.)
So, how does this help you list your home for the best price?
Armed with the knowledge of how much experts believe your house will appreciate this year, you will be able to set an appropriate price for your listing from the start. If homes like yours are appreciating at 4.0%, you won’t want to list your home for more than that amount!
One of the biggest mistakes homeowners make is pricing their homes too high and reducing the price later when they do not get any offers. This can lead buyers to believe that there may be something wrong with the home, when in fact the price was just too high for the market.
Bottom Line
Pricing your home right from the start is one of the most challenging parts of selling your home. Once you decide to list your house, let’s get together to discuss where home values are headed in your area!
Salt Lake City Median House Prices
Wasatch Front median home prices bottomed in 2011, years after The Great Recession ended. Since then, home prices (all housing types) have been on the rise. The median price of Wasatch Front homes sold in the first quarter of this year was $308,000, 75 percent higher...
The Cost of Waiting: Interest Rates Edition
Some Highlights: Interest rates are projected to increase steadily heading into 2020. The higher your interest rate, the more money you will end up paying for your home and the higher your monthly payment will be. Rates are still low right now – don’t wait until they...
Is Your First Home Now Within Your Grasp?
Is Your First Home Now Within Your Grasp? Some Highlights: According to the US Census Bureau, “millennials” are defined as 18-36-year-olds. According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time home buyers is 32. More and...
Utah is Number Three in the nation in house-price appreciation.
Utah is No. 3 in the nation in house-price appreciation. In the first quarter, prices in the Beehive state increased 8.94 percent, according to the Federal Housing Finance Agency. Idaho was No. 1 in price increases. Maryland came in last place. Home prices there...
4 Tips to Sell Your Home Faster
4 Tips to Sell Your Home Faster Since June of last year, we have seen an increase in the inventory of homes for sale month per month. Every spring and summer, the inventory increases because people want to sell their home. For those with children, they may want to be...
Time to Move-Up and Upgrade Your Current Home With Utah Realty
Now’s the Time to Move-Up and Upgrade Your Current Home! Homes priced at the top 25% of the price range for a particular area of the country are considered "premium homes." In today’s real estate market, there are deals to be had at the higher end! This is great news...
10 Steps to Buying a Home This Summer
10 Steps to Buying a Home This Summer [INFOGRAPHIC] Some Highlights: If you are thinking of buying a home, you may not know where to start. Here is a simple list of 10 steps that you will go through to purchase a home. Make sure to ask your agent for details about...
Happy Forth of July!
Happy Independence Day! Wishing you & yours a safe & Happy 4th of July!
Stop Wondering What Your Budget Is & Get Pre-Approved
Stop Wondering What Your Budget Is & Get Pre-Approved! In many markets across the country, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out....
Your 6-Month Mortgage Rate Forecast
Both mortgage interest rates and home prices are projected to rise throughout 2019. If you plan on buying a home this year, the time is now! Let's get together to discuss your plans today!