Tag Archives: #marisennottplus

Why Homeowners Are Selling Now

Some people believe there’s a group of homeowners who are reluctant to sell their houses because they don’t want to lose the historically low mortgage rate they have on their current residences. You may even have the same hesitation if you’re thinking about selling your house.

Data shows that as of this April, 51% of homeowners have a mortgage rate under 4%. And while it’s true mortgage rates are slightly higher than that right now, there are other non-financial factors to consider when it comes to making a move. Your mortgage rate is important, but you may have other things going on in your life that make a move essential, regardless of where rates are today.

As Jessica Lautz, Vice President of Demographics and Behavioral Insights at the National Association of Realtors (NAR), explains: “Home sellers have historically moved when something in their lives changed – a new baby, a marriage, a divorce, or a new job….”

So, if you’re thinking about selling your house, but hesitating, it may help to explore the other reasons homeowners are choosing to make a move. The 2022 Summer Sellers Survey by realtor.com asked recent home sellers why they decided to make their move. The visual below breaks down how they responded:

Top Reasons Homeowners Are Selling Their Houses Right Now | MyKCM

As the visual shows, an appetite for different features or the fact that their current home can no longer meet their needs topped the list for recent sellers. Additionally, remote work and whether or not they need a home office or are tied to a specific physical office location also factored in, as did the desire to live close to their loved ones.

If you, like the homeowners surveyed, find yourself wanting features, space, or amenities your current home just can’t provide, it may be time to consider marketing your house.

That’s what we did a few months ago. Our three bedroom, two bath Cape on a corner lot with a swing set in the backyard served us very well for 28 years. But, it had become too much space with too many stairs and a yard that was getting too big to take care of. (And the swing set was rarely used in a recent years!)

For us, the answer was downsizing to a ranch style condo in an over 55 community.

So, even if you’re concerned about mortgage rates, your lifestyle needs may be enough to motivate you to make a change.

If you’re interested in finding out what’s the best path for you, let’s connect at 508-360-5664 or msennott@todayrealestate.com. We can help you walk through your options, so you can make a confident decision based on what matters most to you and your loved ones.

Talk soon…

Mari and Hank

Buyers Are Regaining Negotiating Power

If you’re thinking about buying a home today, here’s some welcome news. Even though it’s still a sellers’ market, it’s a more moderate now than even earlier this year. The days of feeling like you need to waive contingencies or pay drastically over asking price to get your offer considered may be coming to a close.

Today, you should have less competition and more negotiating power as a buyer. That’s because the intensity of buyer demand and bidding wars is easing. So, if bidding wars were the biggest factor that kept you on the sidelines, here are two trends that may be just what you need to re-enter the market.

1. The Return of Contingencies

Over the last two years, more buyers were willing to skip important steps in the homebuying process, like the appraisal or inspection, to try to win a bidding war. But now, fewer people are waiving the inspection and appraisal.

The latest data from the National Association of Realtors (NAR) shows the percentage of buyers waiving their home inspection and appraisal is declining. A recent survey from realtor.com confirms more sellers are accepting offers that include these conditions today. According to their August study: 95% of sellers reported that buyers requested a home inspection, while 67% of sellers negotiated with buyers on repairs as a result of the inspection.

All of our recent sales have included home inspections.

2. Sellers Are More Willing To Help with Closing Costs

Generally, closing costs range between 2% and 5% of the purchase price for the home. Before the pandemic, it was not uncommon to see buyers ask sellers to help with some of their closing costs. This didn’t happen as much during the peak buyer frenzy over the past two years.

Today, as the market shifts and demand slows, data from realtor.com that uses the results of a national survey suggests this is making a comeback. A recent article shows 32% of sellers paid some or all of their buyer’s closing costs. This may be an option available to you when you purchase a home, although we have not experienced it yet with any of our recent clients.

Bottom Line

The extremely competitive housing market of the past few years seems to be easing a bit. The data suggests that the days of over the top offers with no contingencies are waning and sellers now have to negotiate with buyers. This is good news if you’re planning to enter the housing market.

For more information about buying or selling, please request our Fall Guides. The video below explains what you can learn.

…and to find out how the market is shifting, let’s connect at 508-360-5664 or msennott@todayrealestate.com. We’ll share with you the latest data, as well as our recent experience as sellers and buyers ourselves.

Talk soon…

Mari and Hank

Why People Are Making Their Move

Many were surprised when during the height of the pandemic, the housing market remained strong. In fact, it’s credited with getting the country’s economic engine moving again.

You also may remember that many so called experts, well-meaning observers, and not so well-intentioned TV talking heads were predicting disaster. But, the people who were truly familiar with the housing market were urging calm and saying that things would be fine.

Just like now.

“Those who know” are once again looking at the current economic situation and raising doubt about today’s shifting market and questioning what it means for consumers.

While mortgage rates are higher than they were at the start of the year and home prices are rising, you shouldn’t put your plans on hold based solely on market factors. Instead, it’s necessary to consider why you want to move and how important those reasons are to you. Here are two of the biggest personal motivators driving people to buy homes today.

A Need for More Space

Moving.com looked at migration patterns to determine why people moved to specific areas. One trend that emerged was the need for additional space, both indoors and outdoors. (Something that Cape Cod can certainly provide.)

Outgrowing your home isn’t new. If you need office space, crave a large yard, more room to entertain, or just need additional storage areas or bedrooms overall, having the physical space you need for your desired lifestyle may be reason enough to make a change.

A Desire To Be Closer to Loved Ones

Moving and storage company United Van Lines surveys customers each year to get a better sense of why they move. Their latest survey finds that nearly 32% did so to be closer to loved ones.

A similar company, Pods, also highlights this as a top motivator for why people move. They note that an increase in flexible work options has helped many homeowners make a move closer to the people they care about most.

According to Pods: “a shifting of priorities has also affected why people are moving. Many companies have moved to permanent remote working policies, giving employees the option to move freely around the country, and people are taking advantage of the perk.”

If you can move to another location because of remote work, retirement, or any other reason, you could leverage that flexibility to be closer to the most important people in your life. Being nearby for caregiving and or just seeing those who are important to you on a regular basis could be exactly what you’re looking for.

What Does This Mean for You?

As a seller, especially if you need to downsize, there is a strong demand for your property. Open Houses for typical three bedroom, two bath “family” homes continue to be popular and often result in multiple offers.

If you’re a buyer, sitting on the fence waiting for prices to go down or the market to crash is no more than wishful thinking that is costing you money. Reputable experts — not the alleged ones posting on Facebook — say that prices will moderate, but not drop.

Selling and buying a home is a very personal decision. (We just did both.) But, if there’s one universal lesson from the pandemic it is that life does indeed go on. In the face of genuine tragedy and not insignificant logistical challenges, people nonetheless decided to make their move, whether for work, finances, or personal situations.

Is this your time? Let’s connect at 508-360-5664 or msennott@todayrealestate.com to review your options. We’ll provide you with the most up-to-date market data, as well as share our own experience as recent sellers and buyers.

We hope that you continue to be safe during the heatwave. Please pay special attention to those kids (and adults) who may not be familiar with the water, but will jump in stay cool. Thanks.

Best regards,

Mari and Hank

Should You Buy a Home Right Now?

If you’ve been thinking about buying a home, there’s one question that you’re no doubt asking yourself: should I buy right now, or should I wait?  While no one can answer that question for you, here’s some information that could help you make your decision.

The Future of Home Price Appreciation

Each quarter, Pulsenomics surveys a national panel of over 100 economists, real estate experts, and investment and market strategists to compile projections for the future of home price appreciation. The output is the Home Price Expectation Survey. In the latest release, it forecasts home prices will continue appreciating over the next five years (see graph below):

Should I Buy a Home Right Now? | MyKCM

As the graph shows, the rate of appreciation will moderate over the next few years as the market shifts away from the unsustainable pace it saw during the pandemic. After this year, experts project home price appreciation will continue, but at levels that are more typical for the market. 

As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says: “People should not anticipate another double-digit price appreciation. Those days are over…We may return to a more normal price appreciation of 4-5% a year.”

For you, ongoing appreciation should give you peace of mind that your investment in homeownership is worthwhile, because you’re buying an asset that’s projected to grow in value in the years ahead.

What Does That Mean for You?

To give you an idea of how this could impact your net worth, here’s how a typical home could grow in value over the next few years using the expert price appreciation projections from the Pulsenomics survey mentioned above (see graph below):

Should I Buy a Home Right Now? | MyKCM

As the graph conveys, even at a more typical pace of appreciation, you still stand to make significant equity gains as your home grows in value. That’s what’s at stake if you delay your plans.

As of June 20, the median sales price for a single family home on Cape Cod is $694,250.00. While that is certainly higher than just a few years ago, it’s still less than Boston ($800,000) and many surrounding communities. Plus, the Cape also offers much more in terms of quality school systems, recreational and outdoor activities, etc.

So, if you’re ready to become a homeowner, know that buying today can set you up for long-term success as your home’s value (and your own net worth) is projected to grow with ongoing price appreciation.

Let’s connect at 508-360-5664 and msennott@todayrealestate.com to discuss your options. We’re happy to answer your questons.

…and remember last month we sold our home of 28 years and downsized to an area that we had been thinking about for years.

Stay safe this week and please keep an eye on the kids and adults, who are not familiar with the water. Thanks…

Mari and Hank

It’s Just Fireworks…

…the sky isn’t falling.

Nonetheless, we continue to read the headlines and hear the talk about a potential housing bubble or a crash, while the data and expert opinions tell a different story.

recent survey from Pulsenomics asked over one hundred housing market experts and real estate economists if they believe the housing market is in a bubble. The results indicate most experts don’t think that’s the case (see graph below):

Two Reasons Why Today’s Housing Market Isn’t a Bubble | MyKCM

As the graph shows, a strong majority (60%) said the real estate market is not currently in a bubble. In the same survey, experts give the following reasons why this isn’t like 2008:

  • The recent growth in home prices is because of demographics and low inventory
  • Credit risks are low because underwriting and lending standards are sound

If you’re concerned a crash may be coming, here’s a deep dive into those two key factors that should help ease your concerns.

1. Low Housing Inventory Is Causing Home Prices To Rise

The supply of homes available for sale needed to sustain a normal real estate market is approximately six months. Anything more than that is an overabundance and will causes prices to depreciate. Anything less than that is a shortage and will lead to continued price appreciation.

As the graph below shows, there were too many homes for sale from 2007 to 2010 (many of which were short sales and foreclosures), and that caused prices to tumble. Today, there’s still a shortage of inventory, which is causing ongoing home price appreciation (see graph below):

Two Reasons Why Today’s Housing Market Isn’t a Bubble | MyKCM

Inventory is nothing like the last time. Prices are rising because there’s a healthy demand for homeownership at the same time there’s a limited supply of homes for sale. Odeta Kushi, Deputy Chief Economist at First American, explains: “The demand for homes continues to exceed the supply of homes for sale, which is keeping price growth high.”

2. Mortgage Lending Standards Today Are Nothing Like the Last Time

During the housing bubble, it was much easier to get a mortgage than it is today. Here’s a graph showing the mortgage volume issued to purchasers with a credit score less than 620 during the housing boom, and the subsequent volume in the years after:

Two Reasons Why Today’s Housing Market Isn’t a Bubble | MyKCM

This graph helps show one element of why mortgage standards are nothing like they were the last time. Purchasers who acquired a mortgage over the last decade are much more qualified than they were in the years leading up to the crash. Realtor.com notes: “…lenders are giving mortgages only to the most qualified borrowers. These buyers are less likely to wind up in foreclosure.”

Has the housing market moderated a bit? It seems to be. We’re heading towards a more pre-pandemic — aka “normal” — market. It means that open houses aren’t as crazy. It’s taking more than a weekend to sell a property. There are more price reductions as sellers, who stayed on the sidelines and now want to get the same price for their homes that their neighbors got six months ago, realize that they’ve missed out.

As predicted, the uptick in interest rates has caused some buyers to pause their search. But, places like Cape Cod remain attractive destinations. Our home prices are less than many communities in the Boston area and we offer more in terms of lifestyle opportunities, quality local schools, etc.

Are you thinking of selling but asking yourself: “But, where can we go?” The answer is where ever you want. That’s what we just did. We sold our home of 28 years and moved to an area that we’ve been thinking about for years. We had no real advantage being realtors. We competed like everyone else for property. We made a few offers before one was accepted. We had to find the best mortgage interest rate. We had to weigh what was the best offer for our home.

We learned a lot that will make us better realtors and advisors for our clients.

Curious about your options? We’re happy to answer your questions. Let’s connect at 508-360-5664 or msennott@todayrealestate.com. We’ll share with you current market statistics and what strategies work best for buying and selling a home.


Happy 4th of July! If you’re heading to the beach this week, please keep watch on the kids and adults who aren’t familiar with the water. We’ve had too many fatal or near fatal accidents already. Thanks…

Mari and Hank

The High Cost of Waiting

You’ve been thinking about buying a home, but the current economic situation has you skittish. As predicted, Interest rates have inched up. But, they’re nowhere near what you’re currently paying on your credit cards.

Well-meaning relatives, who “know a little something about real estate,” and not so sincere talking heads on your favorite cable news channel are saying you should wait because sales prices are going to drop.

Level off?

Possibly.

Drop?

No.

So, here’s what waiting is costing you.

If you already owned a home, your net worth likely got a big boost thanks to rising home equity. Equity is the current value of your home minus what you owe on the loan. And today, based on recent home price appreciation, you would be building equity far faster than you would have expected. Here’s why.

Because there’s an ongoing imbalance between the number of homes available for sale and the number of buyers looking to make a purchase, home prices are on the rise. That means a home is worth more in today’s market because it’s in high demand. As Patrick Dodd, President and CEO of CoreLogicexplains: “Price growth is the key ingredient for the creation of home equity wealth…This has led to the largest one year gain in average home equity wealth for owners…”

Basically, because home values have climbed so much, equity has increased too. According to the latest Homeowner Equity Insights from CoreLogicthe average homeowner’s equity has grown by $64,000 over the last 12 months.

While that’s the nationwide number, the map below shows that average equity for Massachusetts homeowners has increased $62,000.

The Average Homeowner Gained $64K in Equity over the Past Year | MyKCM

The Opportunity Your Rising Home Equity Provides

Thinking about marketing your home and upsizing, downsizing or moving to that someday neighborhood? Your equity can help you purchase your next home. When you sell your current house, the equity you built up comes back to you in the sale. In a market where homeowners are gaining so much equity, it may be just what you need to cover a large portion – if not all – of the down payment on your next home.

So, if you’ve been holding off on selling or you’re worried about being priced out of your next home because of today’s ongoing home price appreciation, your equity can help fuel your move.

That’s what we just did. We took advantage of the equity in our home to downsize and purchase something smaller in an area that we’ve been looking at for years. We had no home sale contingency when we made our offer. We then sold our house and received $45,000 over asking price! You can do it, too!

Curious about your options? We’re happy to answer your questions. Let’s connect at 508-360-5664 or msennott@todayrealestate.com. We’ll share with you current market statistics, as well as our experiences as both buyers and sellers. Let’s talk soon.

Enjoy your week. It looks like summer is finally here!

Best regards,

Mari and Hank

Is the Boom Over?

If you’re following the news, all of the headlines about conditions in the current housing market may be leaving you with more questions than answers. Is the boom over? Is the market crashing or correcting? Here’s what you need to know.

The housing market is moderating compared to the last two years, but what everyone needs to remember is that the past two years were record-breaking in nearly every way. Record-low mortgage rates and millennials reaching peak homebuying years led to an influx of buyer demand. At the same time, there weren’t enough homes available to purchase thanks to many years of underbuilding and sellers who held off on listing their homes due to the health crisis.

This combination led to record-high demand and record-low supply, and that just wasn’t going to be sustainable for the long term. The latest data shows early signs of a shift back to the market pace seen in the years leading up to the pandemic – not a crash nor a correction.

Home Showings Then and Now

The ShowingTime Showing Index tracks the traffic of home showings according to agents and brokers. It’s a good indication of buyer demand. Here’s a look at that data going back to 2019 (see graph below):

Is the Housing Market Correcting? | MyKCM

The 2019 numbers give a good baseline of pre-pandemic demand (shown in gray). As the graph indicates, home showings skyrocketed during the pandemic (shown in blue). And while current buyer demand has begun to moderate slightly based on the latest data (shown in green), showings are still above 2019 levels.

And since 2019 was such a strong year for the housing market, this helps show that the market isn’t crashing – it’s just at a turning point that’s moving back toward more pre-pandemic levels.

Based on our own experience and that of our colleagues we can say that not every Open House has lines of potential buyers stretching down the driveway, as was the case not that long ago. Appropriately priced homes still attract a crowd, but buyers have become a bit more discerning. Houses whose asking price aren’t realistic because of condition or location are getting less attention when they might have a year ago.

What we are seeing — and again, this is anecdotally — are some homes becoming available to see if they will sell at some crazy price, because buyers are thought to still be “desperate.” But, there’s not much interest.

Existing Home Sales Then and Now

The headlines are also talking about how existing home sales are declining, but perspective matters here, as well. Let’s look at existing home sales going all the way back to 2019 using data from the National Association of Realtors (NAR) (see graph below):

Is the Housing Market Correcting? | MyKCM

Again, a similar story emerges. The pandemic numbers (shown in blue) beat the more typical year of 2019 home sales (shown in gray). And according to the latest projections for 2022 (shown in green), the market is on pace to close this year with more home sales than 2019 as well.

It’s important to compare today not to the abnormal pandemic years, but to the most recent normal year to show the current housing market is still strong. First American sums it up like this: “…today’s housing market looks a lot like the 2019 housing market, which was the strongest housing market in a decade at the time…”

Housing sales statistics for May have just been released by the Cape Cod and the Islands Board of Realtors and show that YTD the median sales price for a single family home is $690,000.00. (The YTD number one year ago was $607,000.00) New listings YTD are 1,613 compared to 1,836 in 2021.

New listings in May numbered 468. Last May there were 511. Months of housing supply in May is 1.4. In January it was 0.7 meaning more homes are coming on the market. This trend is expected to continue, but we have a long way to go to reach the more than five months supply we had pre-pandemic when good houses were available for sale for more than 100 days.

If recent headlines are concerning you and you’re thinking about buying, selling or both, look at a more typical year for perspective. The current market is not a crash or correction. It’s just a turning point toward more typical, pre-pandemic levels.

We’re happy to answer your questions. Let’s connect at 508-360-5664 or msennott@todayrealestate.com. It’s important that you have the correct information before making a decision.

…and remember, we just sold our house of 28 years and moved to a smaller property. So, we get it.

Have a great week…

Mari and Hank

What Does the Rest of 2022 Hold for the Housing Market?

If you’re thinking of buying or selling a house, you’re at an exciting decision point where timing can be crucial. So, what does the rest of the year hold for the housing market? Here’s what experts have to say.

The Number of Homes Available for Sale Is Likely To Grow

There are early signs housing inventory is starting to grow and experts say that should continue in the months ahead. According to Danielle Hale, Chief Economist at realtor.com: “The gap between this year’s homes for sale and last year’s is one-fifth the size that it was at the beginning of the year. The catch up is likely to continue…This growth will mean more options for shoppers than they’ve had in a while, even though inventory continues to lag pre-pandemic normal.”

  • As a buyer, having more options is welcome news. Just remember, housing supply is still low, so be ready to act fast and put in your best offer up front.
  • As a seller, your house may soon face more competition when other sellers list their homes. But the good news is, if you’re also buying your next home, having more options to choose from should make that move-up process easier.

Here on Cape, there has been a very modest, but steady increase in new listings this year. In January, there were 209. In April, there were 375. For some perspective, there were 629 new listings in April 2019 and we had 5.8 months of housing inventory.

Commenting on social media last week, Ryan Castle, Chief Executive Officer of the Cape and Island Association of Realtors, reported that “162 of 223 properties that became available over the last two weeks are still for sale.”

Cumulative days on the market before sale (YTD) is 36 seeming to indicate that not every property is selling in a day. Just a few years ago, days on market for well-maintained and appropriately priced homes could number in the months.

Mortgage Rates Will Likely Continue To Respond to Inflationary Pressures

Experts also agree inflation should continue to drive up mortgage rates, albeit more moderately. Odeta Kushi, Deputy Chief Economist at First Americansays: “…ongoing inflationary pressure remains likely to push mortgage rates even high in the months to come.”

  • As a buyer, work with reputable lenders, so you can learn how rising the mortgage rate environment impacts your purchasing power. It may make sense to buy now before it costs more to do so, if you’re ready.
  • As a seller, rising mortgage rates are motivating some homeowners to make a move up sooner rather than later. If you’re planning to buy your next home, talk to us and we can give you some advice on timing your move based on our own experience.

Home Prices Are Projected To Continue To Increase

Home prices are forecast to keep appreciating because there are still fewer homes for sale than there are buyers in the market. That said, experts agree the pace of that appreciation should moderate – but home prices won’t fall. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says: “Given the extremely low inventory, we’re unlikely to see prices decline, but appreciation should slow in the coming months.”

  • As a buyer, continued home price appreciation means it’ll cost you more to buy the longer you wait. But it also gives you peace of mind that, once you do buy a home, it will likely grow in value. That makes it historically a good investment and a strong hedge against inflation.
  • As a seller, price appreciation is great news for the value of your home. Again, you can take advantage of our experience to find the best way to strike the right balance for both selling your house and buying your next one. (We just did that!)

On Cape, the median sales price for a single family home (TYD) is up 12.5% to $675,000.00. In April 2019, it was $420,000.00.

But, the percentage of original list price received (YTD) is 101.1% suggesting that the days of head scratching offers may be fading. (Although there will always be exceptions.) In 2019, percentage of list was 92.9%. Back then asking price was the best you could hope for, not the starting point as it often is today.

Thinking about making your move? We’d be happy to answer your questions. Let’s connect at 508-360-5664 or msennott@todayrealestate.com. It’s important that you have the most accurate information to make the best decision for you.


…and speaking of making your move, today (Monday) is moving day for us. We closed on our new condo this past Wednesday and have used the last several days to finish packing up our house where we have lived for the last 28 years and bringing in painters, etc. to our new place. We close on our “old” home this coming Wednesday,

We’ve been chronicling what we’ve been doing in a series called “Mari Makes the Move” that you can find on our YouTube channel Mari Sennott Plus and on many of our social media platforms.

We’ll let you know next week how it all went…

Mari and Hank

What Every Homeowner Needs To Know About a Recession

A recession does not equal a housing crisis. That’s the one thing that every homeowner today needs to know. Everywhere you look, experts are warning we could be heading toward a recession. If true, an economic slowdown doesn’t mean homes will lose value.

The National Bureau of Economic Research (NBER) defines a recession this way: “A recession is a significant decline in economic activity spread across the economy. A recession begins when the economy reaches a peak of economic activity and ends when the economy reaches its trough. Between trough and peak, the economy is in expansion.”

To illustrate that home prices don’t fall every time there’s a recession, let’s take a look at the historical data. There have been six recessions in this country over the past four decades.

As the graph below shows, looking at the recessions going all the way back to the 1980s, home prices appreciated four times and depreciated only two times. So, historically, there’s proof that when the economy slows down, it doesn’t mean home values will fall or depreciate.

The One Thing Every Homeowner Needs To Know About a Recession | MyKCM

The first occasion on the graph when home values depreciated was in the early 1990s when home prices dropped by less than 2%. It happened again during the housing crisis in 2008 when home values declined by almost 20%.

Most people vividly remember the housing crisis in 2008 and think if we were to fall into a recession that we’ll repeat what happened then. But this housing market isn’t a bubble that’s about to burst. The fundamentals are very different today than they were in 2008. So, we shouldn’t assume we’re heading down the same path.

The housing crisis in 2008 was caused by too many homeowners being over-leveraged and having little or no equity in their properties. They found themselves “under-water” when their balloon mortgage payments exploded. That’s simply not the case today. According to ATTOM Data Services 41.9% of all mortgaged homes have at least 50% equity.

As long as inventory remains tight and demand strong, prices will continue to be high. They may level off, but are not expected to decrease in any significant way.

For buyers your bottom line is this: you’re paying somebody’s mortgage. It can either be yours or your landlords.

For potential sellers don’t wring your hands and ask “But, where can we go?” Ask yourself what we’ve always asked ourselves when we decided to make a move: “Where do I want to go?”

That’s what we did and we’re closing on the sale of our home and buying a new one within the next few weeks.

Curious about your options? We’d be happy to answer your questions. Let’s connect at 508-360-5664 or msennott@todayrealestate.com.

It’s important you have the correct information to make the best decisions.

Mari and Hank

Your House Could Be Closer to List-Ready Than You Think

When we decided earlier this year to sell our home and downsize, we faced the immediate decision about how much work needed to be done to get the place market ready.

While no one would accuse us of being “house people,” we’ve taken pretty good care of our home over the years. Mari re-designed the kitchen three years ago. Last year, when our service technician told us that he wasn’t going to waste our money or his time and declined to do annual maintenance, we replaced our furnace and water heater. The roof has been an on-going project for us. The oldest sections are 10 years old.

Those are probably the three big items on a buyer’s check list, so that left smaller projects to complete. As a result, we had our home ready to sell in about a month, typical of most recent sellers.

According to a survey from realtor.com: “With many homeowners expecting a quick sale, and in many cases a lack of contingencies, the preparation process took less than a month for over 50% of home sellers…with 20% completing it in less than two weeks.”

Of course, each situation is different, and knowing what repairs or updates your house needs to stand out is critical.

In today’s market an older furnace or roof is not necessarily a draw back. But, if a home inspection discovers a tag on your furnace from your service technician that says “needs to be replaced,” you can probably expect your potential buyer to ask for money off the final purchase price.

Your House Could Be Closer to List-Ready Than You Think | MyKCM

To see some of what we did, please check out this episode from our series “Mari Makes the Move” on our YouTube channel. (Our home quickly went under contract after two busy Open Houses.)

Curious about your options, but maybe a little worried about the time it’ll take to get your home ready? Let’s connect to 508-360-5664 or msennott@todayrealestate.com. We’re more than happy to answer your questions.

Remember: we’re selling and buying, too.

Have a great week!

Mari and Hank