Janet Sylvester

Spring Real Estate Market

Spring is usually a busier time of year for home sales. There's usually more inventory and buyers on the market. If you are thinking about purchasing or listing a property, this article offers an overview of the Spring market in New Hampshire.

The Impact of Seasons

The Spring tends to be a less hectic time of year for most people. In the Fall months, children start school and families are occupied with adapting. Winter is busy with holiday events. January thru April comes tax season. Only after that do schedules open up for many. As Spring approaches, people are driven by more daylight hours and warmer weather. As a result, Spring is a more active time of year for the real estate market.

More Inventory

Sellers usually believe that their properties present better during the spring and summer and that this will help them achieve a higher sale price. They naturally start cleaning up the exterior of the home as the weather changes and flowers begin to grow. The extended daylight hours also provide additional time for these tasks. The Spring usually brings an influx of homes for sale as a result. This also means more competition, so home owners should think carefully about pricing their homes competitively to ensure a prompt sale. They may want to also simplify the showing process. Buyers will skip ones with cumbersome or limited showing procedures. With the right pricing and viewing procedures, Sellers will make the most of the Spring real estate market.

Level of Competition

Buyers also tend to have more time to spend on their home search during the Spring and like the availability of inventory on the market. It is essential for buyers to stay focused on their criteria rather than trying to view every property for sale. The most desirable properties will go under agreement quickly due to the volume of competing buyers. Buyers who hesitate too long can end up missing out on the property of their dreams.

An Overview Of The Spring Market In New Hampshire

To take advantage of the Spring market, get advice and guidance from a experienced real estate broker. For sellers, it is critical not to price too high or lose momentum. Buyers can remain up to date on newly listed properties with resources from a real estate broker. It is also important for buyers not to lose perspective. 

Yearly Property Checkup and Maintenance Checklist

Autumn's cool temperatures provide a good environment to address your yearly property checkup and maintenance checklist. The change of weather is a helpful reminder to complete any home clean-up projects that you may have been procrastinating on. The following are some tasks not to forget.

Clean Gutters

Autumn leaves appear gorgeous, but when they stay in gutters resulting damages would be not so pretty. The more frequently you clean out your gutters, the easier it will be to keep clean. Furthermore, it may be safer to hire a professional to do this for you.

Power Washing

Pollen and dust may stick on house during the hot and humid months. You may purchase or rent a power washer. Before starting, ensure that you use the right spray power for the surface you are cleaning. Attach the power washer to your hose and spray from one end to the other. Everything will be clean in no time.

Prune Shrubs

Take a look around your yard for any dead limbs that could cause property damage when there is heavy snow or ice. Trim down bushes and shrubs and keep them a distance away from buildings. Wait until late October to cut any spring-flowering plants to avoid removing next spring's flowers.

Prepping the Lawn

Repairing your lawn is a good way to improve your property's value. Fall is a good time to feed and reseed the grass for the coming spring. Before starting, mow your lawn one more time.

Heating Check-up

Schedule an annual check-up for your HVAC system and clean filters. This simple task may boost your furnace's efficiency and reduce utility costs. Annual maintenance can also extend the life of the heating system.

Close Off Leaks

Having your furnace cleaned may save money, but not if warm air is escaping through gaps! Look for drafts near windows and doorways. Re-caulk as necessary to prevent heat from leaking out. For older windows that cannot be caulked, consider buying plastic window coverings sold at your local hardware store.

Clean Out Creosote

You don't want to call the fire department when you first use your chimney this winter. A chimney sweep can take care of creosite buildup. This is also a good opportunity to identify other issues with your chimney and give you a chance to address them so they don't become an expensive repair.

Why You Should Do All of This

Your yearly property checkup and maintenance checklist should not be delayed. They do not strictly improve your home, but they also prevent future damages and, in the end, save you money.

Pricing a Home to Sell

Pricing is directly related to the length of time it takes to sell a real estate listing and whether it may sell at all. Pricing is crucial at all times but is particularly critical when there are an abundance of listings available. The following is advice on pricing techniques for properties NH.

Take Into Account the Local Market

Each local market is unique. When you see statistics on the news, those usually refer to national figures. Your specific city may be dramatically different. A local real estate broker will provide a CMA which evaluates sales of comparable homes in your geographic area and provide an anticipated price range in which your property could sell. This amount may change continually, so avoid referring to outdated reports.

Refer to the Facts

When reviewing the market report, remember that there is a range. Where your home should be in that range depends on other options on the market and your preferred time frame. As a seller, it is common to have pride in your house and the repairs put into it. Unfortunately, not all potential buyers will attribute equal value to specific upgrades. Expect that it is rare to get back the total dollar value of renovations. Additionally, market values can be affected by foreclosed homes in the area, which are traditionally listed at significant discounts and remain used as comparable houses. Market value is actually the amount that a buyer is willing to pay for a property at the current time. It might not necessarily meet your estimates or exceed what you paid for the property.

Pricing Techniques

Listing above the reasonable range can result in extended listing time frames. If the market declines further during that listing time, the property may ultimately sell for even lower than it could have if positioned accurately to begin with. Additionally, home buyers commonly have a negative feelings about properties that have been listed for a long time. This is difficult to overcome even if a listing lowers in price eventually. Overpricing can be extremely damaging.

Words of Wisdom for Sellers

If the market value of your home is dramatically different than what you need to sell for, it may be best to watch the market and wait for values to go up rather than pricing high and allowing it sit for a lengthy period of time. If you have no choice but to sell and need to do so within a defined time frame, picking a price reflective of the market and competitive with current properties will be crucial to attaining your goals. Time is money and mis-pricing can be more damaging than you anticipate.