Selling your home in the Anchorage or the Valley markets
Selling your home in the Anchorage or the Valley markets is not a tedious process. After all, Anchorage and the Valley are perhaps the most transient communities in the nation with the possible turnover of our population every 8 to 10 years. So regardless of your reasons for selling, the opportunities for getting a good return and a prompt sale exist if you know what to look for in your sales approach.
The good news is that a recent survey conducted by the National Association of Realtors showed that about 46% homes are sold in the U.S within a month. I think these figures hold true, if not better, in our Alaska communities. Therefore, the chances of your home being bought are very high, if you follow certain criteria.
This article will explain to you the three most important factors you should consider when deciding to sell your home in Alaska.
The first factor is timing. This is because it determines both the cost of the home to be sold and the pace at which the houses are sold. Do you need to follow the seasonal trends? Many home owners are challenged when it comes to determining the right time to sell their homes, because of circumstances outside of their control. Research conducted by Zillow has shown that the most ideal period to sell your home is May, however, here in our communities, I would recommend March.
Because of the large federal government and military presence in our communities, late winter and early spring is the better season to market and sell as we seem to get an increase in people coming into the community towards late winter early spring. During this period, the demand is high while the supply is low, making the home prices to go up. This makes it an opportune time for home owners to sell their homes. The demand increases also due to the good weather and ease of mobility. According to the research by Zillow, the speed in which homes are sold is 15 percent faster and 2 percent higher than the average selling price. But always keep in mind that the trends and the prices may vary depending on the location of your home. The best thing is to contact me to help you determine how the seasons apply to your case. This is because as a Realtor I have more knowledgeable and have more experience in these matters.
You can also sell your house in Alaska towards the end of the calendar year. This can happen when buyers especially those who are frustrated keep on searching for houses every day without luck. Most buyers do this because they notice that very few homes are placed on the market during this period. Other reasons why holidays can be a perfect time to sell your house include the holiday decorum, most of the buyers are more serious during this time compared to the spring buyers and lastly due to tax reasons, most would like to close before the year ends.
Your Personal Finances
Another factor to consider in selling your house in Alaska is your personal finances. Your financial position should be very strong when you are about to sell your home. Most of your home sale’s costs can come out of the proceeds of your sale, such as seller’s closing costs, real estate commission fees, survey and engineering costs, repair costs, as well as the possibility of seller paid buyer closing costs, but there are other costs that can also be incurred such as storage costs, travel costs, new home purchase or rental costs, which will require strong personal finances.
One thing to keep in mind is that you cannot have a guarantee of getting a positive return on your home sale, especially, if you have a high and outstanding mortgage. It is also important to finish up all home improvement projects that may be pending. These may not increase the value of the home, but they certainly will decrease it in the eyes of a potential buyer, if left unfinished. The best thing to do is to save enough money in advance to ensure a smooth flow on the material day and to cater for any other unexpected expenses.
The Real Estate Market
It is important to have a look at the real estate market behavior to maximize your chances of getting a higher return on investments (ROI). Some of the signs you might consider before you put your house up for sale include; fast selling of houses (this will be good for you), supply of new homes is lower than the demand (this means you might sell your house fast and at a high price) and lower mortgage interest rates (buyers are more likely to purchase houses during this period).
Look out for new construction projects that may be going on within your neighborhood. Check whether they are approved by the local authorities. New road construction, neighborhood extension plans and other major construction projects are examples of new projects. The main reason for doing this is because these projects may effect on home values. Most of the times, new construction projects work to your advantage. This is because they can improve areas as well as values. Buyers want to live in a place where they can access most if not all social and economic amenities, such as schools, jobs, recreation and others.
Sometimes, the market at that time might not work in your favor but the most important thing is to be patient rather than selling your home at a loss. On the other side of the coin, if the timing of selling your home is not under your control, then it is best to consult me to help you create an optimal price tag that will fit the buyers’ demands. The main reason for seeking my assistance is because I am in the market constantly and my insights will help you understand how the market flows.
With me as your preferred professional, I will use the above factors to help you determine the best time to sell your home in Alaska.