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How to Handle a Competitive Market in Miami Valley
Since people are always asking us how the market is doing, we thought we should share some of the trends we've observed so far this year. According to a report we found on CNN Money, home prices are up 11% nationally since last year and 22% since the market crash in 2008. Here in Ohio, however, we are a bit behind the nation as a whole - as we've seen only a 3% increase in home sales. In addition, there is a 5% decrease in homes sales compared to this time last year. This can either be looked at as bad news or as a great opportunity.
For example, sellers now have more time to prepare their home for the market. Because prices have risen and sales have fallen, homes that are in perfect condition and priced correctly are the ones buyers are looking for.
So what are the top 4 things buyers are looking at in every home?
- Kitchens- Make sure your kitchen has been upgraded and freshened up.
- Bathrooms- Same for bathrooms, modern fixtures and finishes are a great boost to your home value.
- Flooring- Needs to be neutral and up-to-date.
- Paint- This is one of the easiest fixes and have a great impact on your final sale price.
As you can see, setting yourself apart isn't necessarily easy. Luckily, because of current market conditions, you have plenty of time to get your home in tip-top shape before putting it on the market. Use this to your advantage! As always, if you have questions about your particular market, please give me a call. We want to help you stay informed.