With the increase in inflation and mortgage rates, the market is taking a turn from it explosive expansion last few years. That time favored the property owners and now the market is just making an adjustment to run-away profits. Here are some things to help weather this time:
Get Repairs Done
This is the perfect time to get those repairs done that might have cost you dollars in the sale. When the market shifts, your property will stand out for the buyer who doesn't want a to-do list when they move in. Additionally, you'll want to take care of anything that could show up on an inspection report and slow a sale down, or cost you in negotiations.
Rent Out Your Property
While there are fewer available buyers in the marketplace, there are tons of good renters looking for a decent property.
The pool of renters has changed significantly and potential buyers that have been priced out still need and want a nice place to live. We can assist you will all aspects of commercial and residential property management to help relieve the stress of managing your rental property.
Update the Aesthetics
Updating the look and feel of your property will not only increase its value, it will make it more competitive in your price point once the market turns again.
Unlike a costly major remodel, updating the aesthetic components like the paint, fixtures, surfaces and cabinets make a world of difference in how a property shows and lets potential buyers (and renters) know you care about the property at a much lower investment. It gives a better first impression and will save on repairs later. Our sister company, Saturday Savers, can help you with these projects and the repairs you need to make.
Who knows how long the market will take to shift again. In the meantime, you can still do these 3 things to better your selling position when it does.
Get in touch with us today - we'd love to help you!