While residential sales markets are cooling across the rest of the country, Maryland real estate is forecast to stabilize rather than fall.
That’s good news for buyers. Still, it’s considered a slow economy for those looking to sell. If you’re in the latter category, you need to make smart decisions to ensure you get the most out of your investment.
Read on to learn all about selling now that the days of heady house prices are behind us.
1. Make a Plan
If you’re putting real estate in Maryland on the market right now, you must create a plan of attack.
Thoroughly assess your home for essential repairs and upgrades and list what needs to be completed before listing. Research how long homes like yours are on the market and use that data to create a timeline.
2. Hire the Best Help
If you want to sell your house fast in a slow market, you need to work with the best real estate agent in your area.
Look for someone with a good track record selling properties similar to yours in markets that favor both the seller and the buyer. Remember, they’ll take a percentage of your sale price. Make sure whoever you hire is worth the money.
3. Fix Only What You Need To
One tip to ensure you get the best return on selling your house in a slow market is prioritizing repairs. If you don’t think you’ll get top dollar in a sale, focus only on repairing anything dangerous or is guaranteed to boost the price.
- Plumbing issues
- Old electrical systems
- HVAC repairs
- Roof and foundation problems
- Smoke detectors and other safety features
Give the outside spruce up, too. Investing in curb appeal can make or break a sale.
4. Invest in Home Staging
When Baltimore real estate slows down, you need to do everything possible to help your home stand out from all others on the market. This means professional home staging might be worth the investment.
Home staging experts turn your home into a property a buyer could envision living in. They remove your personality from the house and create spaces into which people can project their lives.
5. Be Realistic With Your Pricing
One of the biggest mistakes homeowners make is thinking their home is more valuable than it actually is. After all, you usually have a lot of precious memories tied up in the property.
Don’t let this cloud your judgment. It could hinder your saleeven if you’re using seller-savvy platforms like sellyourmdhousenow.com.
Look at the prices similar houses in Baltimore are actually selling for. This will give you a benchmark. It can be hard to find this data if you’re not in the real estate industry, so this is where you can lean into your agent’s knowledge.
Maryland Real Estate: Get Your Home Sold Fast
Maryland real estate remains relatively stable, even as house prices plumate in other parts of America.
However, as someone looking to offload their home for whatever reason, it might mean getting that sale takes longer than you expect. In a slow market with a large inventory, you need to work harder to make your home attractive to buyers. That means investing in repairs and staging, finding the best agent, and being realistic with your pricing.
For more real estate advice, read the other articles on our website.