2020 brings in with it some real-estate related changes and trends you need to be aware if selling a home in Boston in 2020 is your goal.
A lot of it has to do with the Internet, young buyers now becoming able to buy, and certain legislative changes. But no matter what comes along in 2020, if you pay heed to these urgent things, you should be prepared.
1. Use More Online Listings and Marketing
Consider this startling statistic: 95% of buyers use the Internet when searching for a home to purchase. So if you’re not using the Internet for selling a home in Boston in 2020, then you’re falling behind. Online marketing and listings are now essential.
First, you can pay a little extra at the major online real-estate search portals to have your home featured, thus garnering many more views. You can also do a lot yourself by utilizing your personal social media accounts, especially the biggies like Facebook and Twitter.
2. Adjust for Supply and Demand Equalizing
Currently, supply is slowly catching up with demand, and, as result, it will cease to be a purely seller’s market later in the year. This means you might have to make some pricing adjustments and probably put more effort into marketing.
The good news is buyers won’t be experiencing such a sense of frustration and will be out actively searching again. And with price increases slowing, they may be able to actually find and purchase a home that aligns with their financial needs.
3. Be Ready for Millennials
Even though many millennials are saddled with student loan debt, a good portion of them will be looking to buy a home in New England. Their incomes are growing, and many of them are finding ready access to home financing.
Millennials will make up the largest US generation to reach the 25-to-39-year-old age range when people begin to settle down, start families, and buy homes. In fact, by the end of 2020, millennials could account for 43% of home buyers taking out a mortgage. And since mortgage rates are starting 2020 around 3.5%-3.875%, these millennials will likely be very eager to buy while rates are lower.
Knowing that these people will be a huge share of your target market will just make marketing and related tasks that much easier.
4. Hit the Basics Even Harder
Yes, 2020 brings new challenges and new solutions. But even more of it will remain the same, so you need to keep hammering away those things that have been proven to work – Prepping the home adequately, pricing right according to market value, and being willing to negotiate skillfully.
With the huge influx of millennials into the home-buying market, one of the basics will become more important than ever. And that is staging. For successfully selling a home in Boston in 2020, you probably need to engage the services of a home staging professional.
Truthfully, selling a home in Boston in 2020 is much the same as it has always been – with change as the one constant. But knowing these 4 urgent things you need to do now will help you meet the challenges on the very near horizon.
TO GET MORE TIPS ABOUT SELLING A HOME IN 2020, SIMPLY CONTACT NEXTHOME TITLETOWN REAL ESTATE BY PHONE AT (617) 657-9811 OR FILL OUT THE FORM HERE.
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The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.
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