Planning To Sell Your House in 2025? Start Prepping Now
Published: October 22, 2024 | By John Reuter, Integrity Homes | For Sellers, Agent Value If you’re thinking about selling your house in 2025, now is the ideal time to start preparing. Although the new year may seem far off, getting a jump on repairs and upgrades will set you up for success. As Danielle Hale, Chief Economist at Realtor.com, advises: “. . . now is the time to start thinking about what you need for your next home and then taking those steps to prepare to list. . . We have survey data that says 47 percent of sellers are taking longer than a month to get their home ready to sell, so getting them to start that process early can mean more flexibility.” With early preparation, you’ll be market-ready when it’s time to list your home. Partnering with us ensures you focus on updates that will maximize your home’s value based on the latest market conditions. Why Start Now? The best way to sell your house quickly and at top dollar is to ensure it’s in excellent condition. That means repairs, decluttering, and updates—big or small. Tackling these tasks early allows you to move at your own pace. For example, minor fixes like repainting a room, repairing a leaky faucet, or refreshing landscaping are far less stressful with plenty of time. Waiting until the last minute can make the process overwhelming. As Realtor.com points out: “There are some important repairs to make before selling a house, so don’t be in too much of a hurry to get your home listed. . . If you move too fast, buyers see right through the fact that you skipped important home renovations. And this might end up costing you time and money.” What Improvements Should You Prioritize? Not sure where to start? Here are some of the most common upgrades sellers focus on today: Minor kitchen updates – New hardware, energy-efficient appliances, or fresh paint. Bathroom refreshes – Updated fixtures, re-caulking, or modern lighting. Curb appeal improvements – Fresh mulch, seasonal landscaping, or painting the front door. The Advantage of Working with a Local Agent While these projects are helpful, knowing which updates will have the biggest impact in your area is critical. That’s where a local real estate expert like me comes in. My experience in the Dane County and Greater Madison markets ensures I can advise you on the best investments. For example: If buyers in your area prioritize updated kitchens, I might recommend small but impactful kitchen upgrades instead of spending money on other areas. I’ll also help you determine whether bigger projects, like replacing the roof or HVAC system, are worthwhile by comparing your property to recently sold homes. As Point explains: “Not all renovations are created equal, and focusing on upgrades that offer the highest potential for increasing your home's value is key.” Beyond major projects, I’ll also guide you on smaller details, like landscaping, adding fresh mulch, or touching up paint. These finishing touches can make a lasting impression and help your home stand out to buyers. Bottom Line Selling your home in 2025 doesn’t have to be overwhelming, especially if you start early. By prepping now, you’ll ensure everything is in place when it’s time to list, reducing stress and maximizing your home’s value. Let’s connect. Together, we can create a customized plan to get your house market-ready and ensure it sells for top dollar. John Reuter Integrity Homes Broker/Owner 608-669-4226 john@integrityhomeswi.com Real Broker, LLC
Big news for homebuyers and sellers in Dane County!
Showing Activity in Dane County is by John Reuter 📈✨ Big news for homebuyers and sellers in Dane County! In just the past 8 weeks, accepted offers have skyrocketed by 17%! 🏡💥 If you're thinking about selling your home click here to get a free market analysis of your home and equity report. John Reuter Integrity Homes Broker/Owner 608-669-4226 john@integrityhomeswi.com Real Broker, LLC
June 2024 Housing Market Recap: A Dip in Sales Amid Rising Prices
June 2024 marked a significant turning point for the Wisconsin housing market. After eight consecutive months of growth, new listings unexpectedly fell by 10.5% compared to June of the previous year. This decline played a crucial role in the 10.5% decrease in home sales over the past 12 months. Despite the drop in sales, the median home price in Wisconsin increased by 7.4%, reaching $327,500. The rise in the 30-year fixed-rate mortgage to 6.92%, up by 21 basis points from last year, also contributed to the slowdown in home sales. Across the state, every region reported slower sales and increased prices compared to June 2023. However, the first half of the year still showed overall strong growth, with home sales up by 6.9% and the median price rising 7.1% to $300,000 compared to the same period last year. Inventory levels showed slight improvement, settling at 3.5 months statewide, though still below the six-month threshold indicative of a balanced market. Rural areas were closest to achieving this balance with a 4.7-month supply, whereas urbanized areas remained decidedly in favor of sellers, particularly in larger metropolitan areas with just 3.2 months of supply. The ongoing pressure from high prices and rising mortgage rates has significantly impacted affordability. Despite a modest 1% increase in median family income compared to last year, the Wisconsin Housing Affordability Index fell by 8%, reaching a new record low. Insights from Industry Leaders Mary Jo Bowe, the 2024 Chair of the Board of Directors for the Wisconsin REALTORS® Association, expressed concern over the drop in home sales, particularly as June is typically the peak month for sales. "The unexpected drop in new listings was disappointing. We are hopeful that this is a temporary setback and that July will see a rebound in new listings, which will help boost home sales," she noted. Tom Larson, President & CEO of the Wisconsin REALTORS® Association, highlighted ongoing affordability issues, exacerbated by rising prices and higher mortgage rates. "With the 30-year fixed rate more than double its pre-pandemic level, reducing borrowing costs for first-time buyers is crucial. Not only would this aid new buyers, but it would also encourage more homeowners to list their properties, enhancing the overall supply," Larson added. Economic Indicators and Future Outlook Despite the Federal Reserve not lowering short-term interest rates in June, there are signs that economic adjustments are underway. According to recent Congressional testimony by Chairman Powell, the labor market is cooling, and core CPI inflation is improving, approaching pre-pandemic levels. This suggests a possible reduction in short-term rates later in the year, which could indirectly influence mortgage rates and potentially stimulate the housing market further. June 2024 serves as a reminder of the dynamic and often unpredictable nature of the housing market. As we move forward, the interplay between new listings, mortgage rates, and economic policies will be key factors shaping the market's trajectory. John Reuter Broker/Owner Integrity Homes 608-669-4226 john@integrityhomeswi.com Real Broker, LLC
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