If your goal is to sell your house in 2025, now’s the time to start prepping. Even though it might seem like there’s plenty of time between now and the new year, you should get a head start on any updates or repairs you want to make now. By starting your prep work early, you’ll give yourself plenty of time to get your house market-ready by the end of the year. As your listing agent, I can help you get started, so you'll have expert insight into what repairs are worth it based on the local market.

Why Starting Early Is Key

One of the best ways to get the best price and sell quickly is to make sure your home looks its best. And that may mean making necessary repairs, decluttering, and even consider updates that could add value as part of getting your house ready to list. I have three decades of experience in helping to prepare property for presentation and I also have an A-team of recommended vendors to work with in decluttering, repairs, painting, cleaning and staging.

By starting now, tasks can be tackled one at a time. Whether it’s fixing that leaky faucet, refreshing your landscaping, or painting a room, getting an early start gives you the flexibility to do the job right and with as little stress as possible. Because, if you wait to knock items off your list later on, they could quickly stack up and get overwhelming.

Don’t wait until the last minute to get it ready. By getting a head start now, you can ensure everything is in place by the time the new year rolls around. Need advice on what to tackle first? Let’s connect!

Joe

 

There’s no denying mortgage rates are having a big impact on today’s housing market. And that may leave you with some questions about whether it still makes sense to sell your home and make a move.

Here are three of the top questions you may be asking – and the data that helps answer them.

1. Should I Wait To Sell?

If you’re thinking about waiting to sell until after mortgage rates come down, here’s what you need to know. So are a ton of other people.

And while mortgage rates are still forecasted to come down later this year, if you wait for that to happen, you may be dealing with a lot more competition as other buyers and sellers jump back in too. As Bright MLS says:

“Even a modest drop in rates will bring both more buyers and more sellers into the market.”

That means if you wait it out you’ll have to deal with things like prices rising faster and more multiple-offer scenarios when you buy your next home.

2. Are Buyers Still Out There?

But that doesn’t mean no one is moving right now. While some people are holding off, there are still plenty of buyers active today. And here’s the data to prove it.

The ShowingTime Showing Index is a measure of how frequently buyers are touring homes. The graph below uses that index to show buyer activity for March (the latest data available) over the past seven years:

 

You can see demand has dipped some since the 'unicorn years.' That’s in response to a lot of market factors, like higher mortgage rates, rising prices, and limited inventory. But, to really understand today’s demand, you have to compare where we are now with the last normal years in the market (2018-2019) – not the abnormal ‘unicorn’ years. 

When you focus on just the blue bars, you can get an idea of how 2024 stacks up. And that gives you a whole new perspective.

Nationally, demand is still high compared to the last normal years in the housing market (2018-2019). And that means there’s still a market for your house to sell.

3. Can I Afford To Buy My Next Home?

And if you’re worried about how you’ll afford your next move with today’s rates and prices, consider this: you probably have more equity in your current home than you realize.

Homeowners have gained record amounts of equity over the past few years. And that equity can make a big difference when you buy your next home. You may even have enough to be an all-cash buyer and avoid taking out a mortgage altogether. As Jessica Lautz, Deputy Chief Economist at the National Association of Realtors (NAR), says:

“ . . . those who have earned housing equity through home price appreciation are the current winners in today's housing market. One-third of recent home buyers did not finance their home purchase last month—the highest share in a decade. For these buyers, interest rates may be less influential in their purchase decisions.”

If you’ve had these three questions on your mind and they’ve been holding you back from selling, hopefully, it helps to have this information now. A recent survey from Realtor.com shows more than 85% of potential sellers have been considering selling for over a year. That means there are a number of sellers like you who are on the fence.

But that same survey also talked to sellers who recently decided to take the plunge and list. And 79% of those recent sellers wish they’d sold sooner.

Let's connect if you want to talk more about any of these questions or need more information.

Joe

My large Back Bay studio with separate sleeping room in an elegant brownstone condo building has gone under agreement. It is located on lower Marlborough Street, one of Back Bay's most coveted locations, just steps from the Public Garden. It features a renovated open plan kitchen with dishwasher as well as a nicely renovated full tile bath. Recessed lighting and hardwood floors complement the built-in shelving and and Murphy bed. See more details and photos for 103 Marlborough Street, Unit 2.

If you are planning to sell your Boston area home or condo, take advantage of the widest possible exposure for your property to the most highly qualified clientele in the world. As Associate Director of Sales and a 30 year sales associate, I combine my local expertise with the powerful global marketing resources of Sothebys International Realty. You can view my recent sales and listings here. If you have questions about buying or selling Boston real estate, please call me at  617-584-9790, or send me an email at joe.wolvek@gibsonsir.com. 

Joe

 

If you’re gearing up to sell your house this spring, one of the early conversations you’ll have with your agent is about how much access you want to give buyers. And you may not realize just how important it is to make your house easy to tour.

Spring is the peak homebuying season, so opening up your house to as many showings as possible can really help you capitalize on all the extra buyer activity we see at this time of year.

Since buyer competition ramps up in the spring, buyers are going to want to move fast to see your house once they find your listing. And, if they see it and fall in love with it at a time they know they’re competing with other buyers, you may be more likely to get the offer you’re looking for on your home.

It’s understandable you want to keep the disruptions to your own schedule to a minimum, and you may be stressed about having to keep it clean, but it’s worth it. As an article from Investopedia explains:

“If someone wants to view your house, you need to accommodate them, even if it inconveniences you. Clean and tidy the house before every single visit. A buyer won’t know or care if your house was clean last week. It’s a lot of work, but stay focused on the prize.”

 

As an article from U.S. News Real Estate says:

“Buyers like to see homes on their schedule, which often means evenings and weekends. Plus, they want to be able to tour a home soon after they find it online, especially if they're competing with other buyers. If your home can be shown with little or no notice, more prospective buyers will see it. If you require 24 hours’ notice, they may choose to skip your home altogether.”

That said, 24 hours notice usually works pretty well, and I'll help you find the right path forward based on your schedule. And if you’ve got a hardline on granting buyers more access or have interested out of town buyers that just can’t be there in person, we will get creative and explore other options like video tours, virtual showings, and more. 

The bottom line is that when it comes to selling your house, you want to be sure to get as much buyer activity as you can. Let’s connect to talk about which level of access helps make that possible.

Joe

 

 

As you get ready to sell your home or condo, there are a few things you should add to your to-do list to make it inviting and to boost curb appeal.

It’s a good idea to declutter, take down some personal photos and items, touch up scuffs on the walls, and tidy up your landscaping.

 

Please get in touch for further advice on what else we can do to get your house ready to sell!

Joe

 

 

As the year winds down, you may have decided it's time to make a move and put your house on the market. But should you sell now or wait until January? While it may be tempting to hold off until after the holidays, here are three reasons to make your move before the new year.

Get One Step Ahead of Other Sellers

Typically, in the residential real estate market, homeowners are less likely to list their houses toward the end of the year. That’s because people get busy around the holidays and sometimes deprioritize selling their house until the start of the new year when their schedules and social calendars calm down. But that gives you an opportunity to get one step ahead.

Selling now, while other homeowners may hold off until after the holidays, can help you get a leg up on your competition. Start the process today so you can get your house on the market before your neighbors do.

Get Your House in Front of Eager Buyers 

Even though the supply of homes for sale did grow compared to last year, it’s still low. That means there aren’t enough homes on the market today. While some buyers may also delay their plans to move until January, others will still need to move for personal reasons or because something in their life has changed.

Those buyers are still going to be active later this year and will be seriously motivated to make their move happen because they need to. Unfortunately, the challenge they'll face is a shortage of available inventory to meet their needs. A recent article from Investopedia says:

“. . . if your house is up for sale in the winter and someone is looking at it, chances are that person is serious and ready to buy. Anyone shopping for a new home between Thanksgiving and New Year’s is likely going to be a serious buyer. Putting your home on the market at this time of year and attracting a serious buyer can often result in a quicker sale.”

Use Your Equity To Fuel Your Move

Keep in mind that homeowners today have record amounts of equity According to CoreLogic, the average amount of equity per mortgage holder has climbed to almost $290,000. That means the equity you have in your house right now could cover some, if not all, of a down payment on the home of your dreams.

And as you weigh the reasons to sell before year-end, it's important to remember the reasons that sparked your desire to move in the first place. Maybe it’s time for a new home in a location that suits you better, one that offers the perfect space for you and your loved ones, or maybe your needs have evolved over time. A local real estate agent can help you determine how much home equity you have and how you can use it to achieve your goal of making a move.

The bottom line is that listing your home before the new year can offer unique benefits: less competition, motivated buyers, and your equity gains can all play to your advantage. Reach out, and let's achieve your goals before winter sets in.

Joe

 

If your listing expired and your house or condo didn’t sell you’re likely feeling *just a little* frustrated. Not to mention, you're also probably wondering what went wrong. Here are three questions to think about as you figure out what to do next.

Did You Limit Access to Your House?

One of the biggest mistakes you can make when selling your house or condo is restricting showing times or days. Being flexible with your schedule is important. After all, minimal access means minimal exposure to buyers. Sometimes, the most determined and qualified buyers might come from far away or be very busy. They may not be able to change their plans easily if you only offer limited times for showings. Try to make your house available as much as you can to accommodate them. If no one’s able to look at it, how’s it going to sell? And how will you get the best terms/best price sale that you desire?

Possible solution: Ask for prior-day notice as a default. That way you do not have to drop everything at a moment's notice. 

Did You Make Your House Stand Out?

The old saying applies: you never get a second chance to make a first impression.  If it's a house (as opposed to a condo), the exterior needs to look appealing. As an article from U.S. News says:

“After all, if people drive by, but aren’t interested enough to walk through the front door, you’ll never sell your house.”

But don’t let that impact stop at the front door. Whether it's a house or a condo, having it staged properly is vital. By removing personal items and reducing clutter inside, you enable buyers to picture themselves in the home. Additionally, a new coat of paint or cleaning the floors (or replacing them with fresh carpet or wood or an attractive engineered product) can go a long way to freshening up a room. If called for, having your agent recommend a staging designer is smart. The cost will be far outweighed by the return on your investment. An experienced agent should be able to help you with all of this.

Did Your Agent Market the Property Properly?

You and your agent must determine who is the target demographic for your property. A full-service brokerage like Gibson Sotheby's International Realty will be able to provide the proper local, statewide, national, and international marketing platforms, as well as provide attractive, professional print, social, mass email, and other electronic media.

Experienced Sales Representation?

Was your agent able to represent your property professionally and to its best advantage? An experienced agent with a track record will be able to provide quality professional showings to prospective buyers. What comes out of one's mouth during a showing can have consequences down the road. DId your agent perform all the showings or did they pass them off to a newbie "team member"? Or did they just have the property on lockbox?

Did You Price Your House Compellingly?

Setting the right price is extremely important when you're selling your house.  Overpricing in relation to existing market will scare away buyers and make it hard to sell quickly...or at all.  Business Insider notes:

“. . . the biggest mistake sellers make is overpricing their home.”

Price your home accurately. If your house is priced higher than others like it, it will make buyers lose interest. If your property is presented, marketed, represented, and located well, there's only one problem. Can you guess what that problem is? Time is *not* your friend in this case. 

Let's get your home represented properly.

A skilled and experienced agent can offer expert advice on relisting your house with effective strategies to get it sold. It’s natural to feel disappointed when your listing has expired and your house didn’t sell. Let’s connect to figure out what happened and what to reconsider or change if you want to get your house back on the market. Here are some of my more recent sales

Joe

 

If you’re a homeowner, odds are your equity has grown significantly over the last few years. Equity builds over time as home values grow and as you pay down your home loan. And, since home prices skyrocketed during the ‘unicorn’ years, you’ve likely gained more than you think.

According to the latest Equity Insights Report from CoreLogic, the average homeowner has more than $274,000 in equity right now. That much equity can help you achieve certain goals. In a recent article, Bankrate elaborates: 

“While the pandemic created serious challenges, the silver lining for anyone who owned a home was the sizable equity gain. Understanding how home equity works, and how to leverage it, is important for any homeowner.”

Here are a few examples of how you can put your home equity to work for you.

1. Buy a Home That Fits Your Needs

If your current space no longer meets your needs, it might be time to think about moving to a bigger home. And if you've got too much space, downsizing to a smaller home could be just right. Either way, you can put your equity toward a down payment on a home that fits your changing lifestyle. A real estate agent can help you figure out how much equity you've got and how to use it when buying your next home.

2. Reinvest in Your Current Home

Renovations are a great option if you want to change your living space, but you aren’t yet ready to make a move. Home improvement projects give you the freedom to tailor your home to match your needs and personal style. But it's important to consider the long-term benefits certain upgrades can bring to your home’s value. Lean on a real estate professional for the best advice on which improvement projects to prioritize in order to get the greatest return on your investment when you sell later on.

3. Pursue Personal Ambitions

Home equity can also serve as a catalyst for realizing your life-long dreams. That could mean investing in a new business venture, retirement, or funding an education. While you shouldn’t use your equity for unnecessary spending, using it responsibly for something meaningful and impactful can really make a difference in your life.

4. Understand Your Options to Avoid Foreclosure

Today the number of foreclosure filings remains below the norm, so there’s no need to fear a wave of foreclosed homes flooding the market. But unfortunately, there are still some homeowners who experience the foreclosure process each year. If you’re facing financial difficulties, having a clear understanding of your options and how your equity can help is crucial. Equity can act as a financial cushion that can be used in times of unexpected challenges or unforeseen circumstances that may disrupt your ability to make mortgage payments on time.

In an article, Freddie Mac explains it this way:

“If exiting your home is the best option for you, selling with equity may be a good option. When selling with equity, you are using the proceeds from selling your home at a higher price than the amount you owe on your mortgage to pay off your remaining mortgage debt.”

Your equity can be a game changer in reinvesting in your needs, pursuing your goals, and even helping you avoid foreclosure during difficult times. Let’s connect so you can start planning your next move.

 

While this isn’t the frenzied market we saw during the ‘unicorn’ years, homes that are priced right are still selling quickly and seeing multiple offers right now. That’s because the number of homes for sale is still so low. Data from the National Association of Realtors (NAR) shows 76% of homes sold within a month and the average saw 3.5 offers in June.

To set yourself up to see advantages like these, I would encourage you to get in touch with me. My listings routinely sell above asking in very short time frames. This is because I do a very detailed analysis and price according to what my analysis of the soldand available comparable properties tells me. In that way, we encourage competitive offers and a better quality buyer.

The price you set for your house sends a message to potential buyers.

Price it too low and you might raise questions about your home’s condition or lead buyers to assume something is wrong with it. Not to mention, if you undervalue your house, you could leave money on the table, which decreases your future buying power.

On the other hand, price it too high and you run the risk of deterring buyers from ever touring it in the first place. When that happens, you may have to do a price drop to try to re-ignite interest in your house when it sits on the market for a while. But be aware that a price drop can be seen as a red flag for some buyers who will wonder why the price was reduced and what that means about the home.

A recent article from NerdWallet sums it up like this:

"Your house’s market debut is your first chance to attract a buyer and it’s important to get the pricing right. If your home is overpriced, you run the risk of buyers not seeing the listing . . . But price your house too low and you could end up leaving some serious money on the table. A bargain-basement price could also turn some buyers away, as they may wonder if there are any underlying problems with the house."

Think of pricing your home as a target. Your goal is to aim directly for the center – not too high, not too low, but right at market value.

Pricing your house fairly based on market conditions increases the chance you’ll have more buyers who are interested in purchasing it. That makes it more likely you’ll see multiple offers too. Plus, when homes are priced right, they still tend to sell quickly. And time is not your friend.

To get a high-level look into the potential downsides of over or underpricing your house and the perks that come with pricing it at market value, see the chart below:

Lean on my Professional Expertise to Price Your House Right

An experienced agent has the skill and the insight necessary to find the market value of your home. I use my expertise to determine a realistic listing price by assessing:

• The prices of recently sold homes
• The current market conditions
• The size and condition of your house
• The location of your house

Pricing your house at market value is critical, so don’t rely on guesswork. Let’s connect to make sure your house is priced right for today’s market.

 

 

One of the biggest challenges in the housing market right now is how few homes there are for sale compared to the number of people who want to buy them. To help emphasize just how limited housing inventory still is, let’s take a look at the latest information on active listings, or homes for sale in a given month, as it compares to more normal levels.

According to a recent report from Realtor.com: 

 “On average, active inventory in June was 50.6% below pre-pandemic 2017–2019 levels.”

The graph below helps illustrate this point. It uses historical data to provide a more concrete look at how much the numbers are still lagging behind the level of inventory typical of a more normal market (see graph below):

It’s worth noting that 2020-2022 are not included in this graph. That’s because they were truly abnormal years for the housing market. To make the comparison fair, those have been omitted so they don’t distort the data.

When you compare the orange bars for 2023 with the last normal years for the housing market (2017-2019), you can see the count of active listings is still far below the norm.

What Does This Mean for You? 

If you’re thinking about selling your house, that low inventory is why this is a great time to do so. Buyers have fewer choices now than they did in more normal years, and that’s continuing to impact some key statistics in the housing market. For example, sellers will be happy to see the following data from the latest Confidence Index from the National Association of Realtors (NAR):

• The percent of homes that sold in less than a month ticked up slightly to 74%. 
• The median days on market went down to 18 days, showing homes are still selling fast when priced right. 
• The average number of offers on recently sold homes went up to 3.3 offers.

When supply is so low, your house is going to be in the spotlight. That’s why sellers are seeing their homes sell a little faster and get more offers right now. If you’ve thought about selling, now’s the time to make a move. Let’s connect to get the process started.