5 Tips to Ready Your Home for Spring Sale

If you are considering putting your house on the market in the near future now is the perfect time to start thinking about cleaning up and clearing out to make way for your fresh start. We are stuck inside more than ever these days with the cold and snowy weather so why not take advantage of all that time? You might feel overwhelmed when thinking about all of the tasks that need to be done but I encourage you to make a list of your priorities, start small and see where your momentum takes you! Below is a list that should be relevant for any home seller that you can use as a jumping off point.

1. Declutter

One of the most impactful things you can do when selling your home is to clear out all of the clutter and “stuff” that might be crowding your spaces and covering up the beautiful selling points of your home.  Papers, clothes, books, shoes…where to start? Pick one category and go through all of it in your house, making a pile to keep, a pile to toss (recycle or shred) and a pile to donate.  Stuffing things away in a closet wont work as potential buyers will want to look in your closets to see what the space is like. The emptier they are, the bigger they will seem. When it comes to clothes, anything you haven’t worn in a season or that doesn’t fit anymore should be donated (or recycled/ thrown away if no longer wearable.) If you don’t use it/ wear it/ love it.. let it go!! If you have clothing you feel sentimental about (baby clothes, etc.), purchase a large plastic bin (label it!) and store all of your special items in one spot.  If you have a great deal of items to keep and not enough storage space you might consider renting a small storage unit to temporarily keep those things safe and out of the way. 

2. Organize

Once you have removed all of the extra clutter, start putting things back in a more organized way. Kitchen drawers, cabinets, closets, bookshelves…try to look at all your spaces with a fresh eye (as a potential buyer!) and see how to make the most of each space so that your belongings are organized and also aesthetically pleasing. If you have a large bookcase one fun idea is to organize your books by spine color. Organizing by color also works great for the clothes hanging in your closet.

3. Clean

You know cleaning was going to be on this list somewhere! Hopefully the most heavily used areas of your home are cleaned regularly but take a look at the places you might overlook on a daily basis. Baseboards, ceiling fans and blinds almost always need a good wipe. Use a damp cleaning rag, not a dry duster, otherwise you are just brushing the dirt into the air. Doorways, walls, kitchen cabinet doors are often grimy and benefit from a scrub. If you have scuff marks, crayon, or fingerprints that don’t want to easily come off a surface, try using a magic eraser…they really are magic and work almost every time! Be careful as they can sometime remove paint so test in an inconspicuous spot first. As winter starts winding down your windows will definitely want a good cleaning. Also think about the soft surfaces in your home that often get overlooked; many curtains can be easily machine washed and hung to dry (check the tag first as some will be dry clean only). Throw pillows and blankets should be washed every few months if possible. Rugs and couches can be steam cleaned, either professionally or with your own steam cleaner.

4. Paint

A fantastic indoor project that makes a huge difference is fresh paint! If you have any rooms with very dark or unusual paint choices now is the time to lighten up. Choose a neutral palette that will be appealing to most people. Whites, creams, light grays. Pale blues and greens are great for the bathroom or bedroom. Even if you already have neutral hues in your home consider giving your most highly trafficked rooms a fresh coat. Before you paint, take the time to repair and patch any holes or cracks in your walls. Don’t forget about the trim and molding. Doorways and baseboards get more abuse than the paint on your walls so if you don’t have the time or energy to tackle repainting an entire room consider just going over the trim. Fresh white trim will make everything else feel cleaner.

5. Décor

A rule of thumb when selling your home is to put away all of your personal mementos so that potential buyers can really see themselves living in your spaces. This means all photos, awards, religious items and very personal art. Keep on display your beautiful and neutral décor and art. Plants work well for this (as long as they are not too large and or/ blocking precious natural light.) Try to keep your surfaces as clean and clear as possible. A single vase or a small grouping of decorative objects on your dresser instead of the surface being covered with knickknacks. Also consider investing in some fresh linens for your bathroom and bedroom. Of course you will take these with you when you move but having snowy white towels hanging in your bathroom and a crisp new duvet on your bed are very visually appealing. The goal is to make your home feel spacious, bright, clean, airy and inviting.

If you are looking for ideas of what to do with all of the clutter you have cleared out:

 Big Brothers Big Sisters of RI- Will take clothing, books, toys, household goods, and furniture. They will even come and pick up your donations if you call and schedule an appointment.

 Salvation Army- Will take clothing, books, toys, household goods and furniture. They will also come pick up your donations.

 Animal Shelters (Providence Animal Rescue League)- Will take old towels and blankets.

Once Upon a Child-  Consignment for children’s cloths, toys, books, baby gear, furniture. Will give you cash or trade. Due to COVID, call to make an appointment first.

Best Buy- Will take your old Electronics and some Appliances.

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Thinking about selling your home? Contact Lisa Pagano at lisa.pagano@mottandchace.com or 401.447.9505

The View From Above: The Video Advantage in Marketing Your Home

Times have changed from the days of black and white real estate listings in your Sunday paper. These days, a combination of high quality still photography, video and stunning drone footage is the best way to go about marketing your most lucrative asset.

One of the most timely advantages to video marketing is that it allows a buyer to view a property in a private, in-depth manor while in the safety and security of their own home and on their own schedule. Drone video in particular really gives a unique feel for the full scope of a property and its grounds as well as the context of its neighborhood. Music or voice over can be added to create the desired mood.

See below for three videos that prove showcasing your home with a multifaceted digital approach makes for impressive results.

Incredible aerial shots and views of the water combine in this stunning showcase of 147 Beavertail Road in Jamestown

The secluded island feel of 115 Sand Dam Road, in Glocester, really shines through in this video

Proximity to the water is on full display in this video of 63 Longfellow Road in Jamestown

For more information on marketing your home or to find out the value of your home please contact Lisa Pagano at lisa.pagano@mottandchace.com or 401.447.9505

Buying and Selling in the Time of Covid-19

365 Boston Neck Road, Narragansett RI 02882

As a trusted real estate advisor, I thought it might be a good time to lay out some facts and circumstances if you are considering selling or buying a home during this unique period of uncertainty.

The fundamental fact to always keep in mind is that at any given time, good or bad, real estate will always be the safest and most stable investment over time compared to other investments.   Additionally, there will always be people who, according to their life stage, will need to sell or buy a home due to compelling motivations such as engagements, marriages, deaths, divorces and new additions to the family be it children or grandparents. There are more reasons, of course, but these represent the majority.

So, keeping Covid-19 in mind, if you’re wondering whether it is a good time now to sell your home, here are a few things to keep in mind:

1.      We are currently in a sellers market!  Simply put, demand exceeds supply today.  It’s a fact.  And, there are very serious, motivated buyers looking for a home like yours right now.  And while people are advised to stay home these days, the benefit to sellers is that only serious buyers will rise to the surface, and the browsers will be minimized.

2.      Buyers are taking advantage of the best mortgage interest rates ever! 

3.      What a great time to get “your house in order.”  Literally.  Why not use this social distancing time at home to make repairs, clean thoroughly, spruce up the décor, and think about staging for photography and video for when the dust settles?  (Pardon all my silly puns!).  Or consider my custom concierge services HERE .

4.      Social distancing lends itself perfectly to virtual home selling. Partnering with a Sotheby’s affiliate means you have access to state-of-the-art technology, client service, global to local marketing expertise, and a proud brand heritage.  We are uniquely poised to showcase and sell your home with professional digital photography and video, providing tools such as Live Video Walk-throughs, Live Virtual Open Houses, Virtual Staging, Video Texting, 3-D Matterport Video Tours, Drone Imaging, and much more.  Selling your home with Mott & Chace Sotheby’s International Realty will set your home  apart and command the highest sales price in the quickest time while keeping everyone as healthy as possible..

260 Beavertail Road, Jamestown RI

Looking to buy this Spring? 

1.      Buying a home leads to control and certainty in unstable times.  You will feel secure in knowing you have a fixed monthly payment with rock-bottom interest rates, an investment that will appreciate over time, tax benefits associated with home ownership, and living your dream.

2.      Get your finances in order now, and have your lender pre-qualify you so you know in advance of shopping for your dream home what your price range will be.  You will be in a much more competitive position when your offer on a home contains your pre-approval letter from a lender.

3.      There may be opportunities to buy a home now at a discounted price—perhaps creating a win-win situation by relieving a seller’s financial worries during these unstable times.

 Bottom line folks….don’t panic.  Be strategic!

And if any of the coastal properties above get you thinking about a summer move…send me a note!

Divorce is difficult.

Selling your home doesn’t need to be.

Going through a divorce brings on extreme emotions, and having to deal with selling a home is one of the last things you want. Having represented sellers going through this painful process and moving on from divorce myself I’m incredibly sensitive to those forced to navigate through the sale of a family home. I work diligently to take the burden of the home sale off their plate as much as possible.

I try to teach people to think with their brain not their heart. This is a business decision, and the decisions you make now will affect your future. How you rebound from this divorce is directly related to the decisions you make when you are in the divorce. In many of contentious divorces the marital home can become a source of revenge, strife and sometimes financial ruin. That once important financial asset to the couple now becomes a chess piece.

The sale of a house usually comes because one of the two involved can’t afford it. The same income that went to support one household is now going to two households, and the cost of divorce can be outlandish.

The cost isn’t limited to lawyers’ fees. One spouse has to find new furniture. You no longer qualify for your cell phone’s family plan. Someone has to find a health insurance plan. The list goes on and on, and the expenses can pile up.

Some sage advice…

Take care of yourself

Through all the court dates, the doubts and the anger, self-care will become very important. You need your strength and best wits about you. You also need to believe that your best days are ahead.

Believe that this too shall pass. For me to have a client call me two or three years later, I sometimes don’t’ even recognize them as a person. All that toxic hell they were living through is over.

Don’t be married to the house

Don’t remain married to the mortgage. If one person can’t refinance the mortgage, then sell the property.

You are paying a lawyer to be smart for you, but some lawyers and even judges think that if you sign off on the title then you are signing off on the mortgage. That is not true.

Don’t sabotage your own profits

Many times, one spouse does not want to sell the house, but there is a court order to do so. That anger causes the devil to come out and ruin parts of the house – or they sabotage an open house by not keeping the house clean.

Hire a stager

The showing condition of the house is very important. A lot of times in a  divorced house, there is deferred maintenance, and no one can afford or has the energy to fix things. The house is the number one form of capital in most marriages.

Many times, the couple ends up needing every penny they can get out of the house. I rarely put a house on the market if it isn’t staged to look it’s best – it can facilitate the sale, and as an Accredited Home Stager, I offer this service to my clients.

Take everything when you move out

If you are the spouse moving out of the house, take everything with you right away. Don’t necessarily think you will go back without a court order. If someone is thinking of divorcing and thinking of leaving, take everything that is yours with the anticipation that you aren’t going back. Many times the spouse comes back to get their stuff and the locks are changed, alarms are on, dogs are bought.

Make copies of everything

Before you leave the house, make copies of all the tax returns, financial bank statements, and anything else you think could be important in the selling of the house.  

Hire a real estate person familiar with divorce knowledge

It is imperative that your real estate agent establish neutrality with both sides of the couple. My goal is to remove any bias, position the home in its best light, cast a wide net to identify buyers, and sell the home for the maximum value in the least amount of time. Need some assistance? Click here to get started today.

5 Ways To Stand Out This Spring Selling Season

Get Maximum Dollar For Your Investment.

 The spring selling season is often the busiest and most frantic period of real estate activity in the calendar year. And it makes sense, as the weather warms and home buyers hope to lock in a property before prices rise, those hoping to sell a home in spring can take advantage of housing market trends and walk away with a tidy profit in the spring.

 Stand out against the competition in a crowded market!  

 Spring cleaning checklist

1. Clear the clutter:

 Nothing says “unappealing” like a cluttered property when you’re trying to sell a home. And more likely than not, you have quite a bit of clutter in your house, especially if you’ve been in your home for a while. Check out this “before & after”—which is more appealing? 

• Entryway: This is the first area prospective home buyers will see, so remove coats, umbrellas, or shoes from your mudroom or foyer.

• Cabinets, pantry, nightstands, closets: Remove items (e.g. medications, tissues, etc), other than those used for decorative purposes. Closets shouldn’t be packed so much they’re bursting.  Potential buyers WILL check out closet space!

• Kitchen: Countertops should be clear of everything except for decor and essential kitchen equipment (e.g. toaster) only if you don’t have a place to tuck it away!  Create the look of SPACE!  The fridge should be free of magnets, bills, flyers, or coupons.

• Bedrooms: Beds should be made; clothes and shoes shouldn’t be on the floor.

• Furniture and electronic equipment: Keep these to a minimum. This will give the impression of a more open floor plan. Organize cords for electronics (e.g. computers, TV).

• Periodicals, photos, toys, etc: Anything that overly personalizes your home should be kept away.

• If you need to get clutter off your hands, have a garage sale, sell items online, or throw away anything you don’t need.

2. Remove personalization:

The purpose of home staging is to help prospects imagine themselves living in your house. If you display items that make them feel like it’s someone else’s home, you make it hard for buyers to imagine owning, much less living, in your property.

You don’t have to sacrifice creating a warm and inviting feel to your house, but you want to strike a balance between warm and neutral. This means focusing on areas like:

• Personal effects: Pack up family photos, sports memorabilia, trophies, figurines or artwork. In the bathrooms hide razors, deodorants, and other personal items.

• Collections: What you collect (e.g. books, religious artifacts, etc.) may not necessarily be the same things your prospects would collect. Reading material should reflect neutral subjects, such as architecture or food.

• Repaint walls: The color palette of the house should be neutral. You want buyers to project themselves onto the house, not feel like your personality is the overarching theme of the house. Use color psychology to know how each tone or color affects your buyers.

• Wall coverings: Remove or replace wall treatments that have not been changed in the past five to seven years.

3. Clean the exterior: 

If you spend all your time making the interior of your house look appealing, you’ll miss out on the profit potential of exterior curb appeal. Many buyers decide, within seconds of seeing the exterior of a home, whether a property is suitable.

•  Yards: Winter can leave your yard looking dirty. Trim shrubs, weed flower beds, and throw away leaves and garbage. Planting flowers around the yard can go a long way in raising its appeal, especially during the spring.

• Porch and patio: Springtime gives people a great excuse to sit out and bask in the weather, so make sure your porch and patio offer that. For a more appealing porch or patio, you can add potted plants along the walkway, even hang a beautiful wreath on the front door. Make sure you remedy any peeling paints,or repaint if needed.

4. Pre-inspection repairs: 

The more well-maintained your house is, the more justification you have for a high asking price. However, if home buyers see your spring real estate property needs a lot of repairs, as advised by the home inspector they will hire, this can cut into your profits.

 Before your house goes on the market, make sure all repairs are done; you can hire your own home inspector to conduct pre-inspection repairs. Among the things you would look at include:

• Plumbing

• HVAC

• Electrical

• Presence of mold and mildews

• Damp basements or crawlspaces

• Deteriorated roofs

• Non-functioning chimneys

• Structure and foundation

• Interior appliances, like smoke detectors

5. Open your home up:

 Take advantage of the fresh spring weather by opening your windows to let the fresh air and sunlight come in and make your house feel (and smell) vibrant. Bright rooms aren’t just aesthetically-pleasing, they also look bigger.

 If natural light doesn’t suffice, add floor or table lamps to areas that are darker or dimmer than others. You can even add some (subtle) air fresheners to give that springtime feeling a bit of a boost.

MAXIMIZE THE SPRING SELLING SEASON AND YOUR PROFITS!

People tend to buy, whether it be a home or a box of breakfast cereal, for emotional reasons — then back it up with logic. And this is especially true with the real estate spring selling season.

That’s because spring carries with it powerful symbolism; the feeling of renewal, a fresh start. And this can be a powerful metaphor when selling your home. But it’s key you remove any obstacles to this motivating factor. By ensuring your home is clean, free of trouble areas, and looking as fresh as possible, you might just enjoy a fantastic return on your investment this spring.

The Power of Design and Staging to Sell!

I'm pleased to present my recent project that combined interior design, home staging, pro-photography and proper pricing to yield a sale in less than a day.  28 Rangeley Road in Cranston was a vinyl-sided, 1,300 square foot home with two bedrooms in a lovely neighborhood. The roof was newer, the garage had been converted to living space, the home was fueled by oil through a very old cast iron baseboard system and lacked A/C, and the rooms were small, choppy, and outdated.

When I bought the home, I immediately sought to reconfigure the main living areas to create a more inviting open floor plan, and update the kitchen and bath with luxe materials, appliances, and fixtures.  Most who know me know that my signature move is to knock a wall or two down, put a support beam up, and create a space that's ideal for entertaining--my other passion!

The open design plan effectively eliminated the need for the extra 200 feet of living space in the converted garage. I felt a garage would be more appealing to buyers so I designed the space to become a bonus room (mudroom, drop zone, etc.) and a single car garage with entrance into the home--a MUST for our snowy, blustery winters!  

I designed an eat in kitchen with a large quartz island for serving and dining, forfeiting the "dining area".  The bonus room was large enough to accommodate a dining table and chairs if really necessary, and I needed the space to fit my new fabulous kitchen!

For the bathroom, I removed a closet in a bedroom that jutted into valuable bathroom space and redesigned the layout to create a more practical, larger, beautiful space that exudes luxury.  The bath is accented with spa-like tiles, sparkly chrome fixtures, and modern wall sconces.

The hardwood floors throughout the home were sanded and stained dark walnut, ready for the new furnishings and accessories--"staging", we call it.   It helps potential buyers envision themselves in the space, and where their own furnishings will sit.  And so, a lovely young couple envisioned themselves living at 28 Rangeley, and within a day made a full price offer.

Here are some before and after photos that capture the design and staging. Enjoy!

2018 Real Estate Trends to Watch: ‘Surban’—That Sweet Spot Between City and Suburb

 

No—”surban” is not a typo. Think of it as the melding of two words to form a new one in the same manner as celebrity name fusion—think Brangelina, Bennifer or Kimye. Surban refers to a suburban area that has the feel of an urban area, with walkability to great retail and restaurants from a house or apartment, and it’s what all the real estate trend predictors are talking about.What Is Surban?

Surban is defined as a suburban area that has the feel of urban; it is a blend of the best of urban and suburban life. Urban planners would previously have described these as “mixed-use” areas, but surban is a relatively new term that fits a bit better.

Characteristics of surban areas include:

• Located in suburban, not urban areas

• Anchored in areas with highly-rated schools and low crime rates

• Dominated by a number of housing options, from single-family residences to condos to townhomes

• Surrounded by great retail and shopping areas in walkable distance

• Highlighted with social venues such as restaurants, bars and entertainment

There is much being written about the current trend of surban living. The Urban Land Instituteestimates that these areas will draw at least 80 percent of the coming wave of households and will attract the most families in the next 10 years. Noted real estate consultants John Burns and Chris Porter recently authored a book, “Big Shifts Ahead,” and devoted an entire chapter to the surban way of life.

The Suburban and Urban Past
From 1950-1980, the real estate profession witnessed the trend of suburbia. Homeowners were moving out of the inner city and relocating in suburban areas. They were willing to sacrifice some incredible commute times to cities and suffer other inconveniences to experience an upscale lifestyle. This was because crime rates in urban areas were high and school performances were low.

The 1990s and 2000s brought with it an age of urbanization centered around the renewal of inner cities, development of mixed-use properties in urban areas, increased attention to mass transit, and a renewed focus on downtown condos. However, the economic downturn of the last decade left little job growth in the urban areas. In addition, crime rates are still relatively high, and school rankings and commitments to education remain low.

Paving the Way for Surban Areas
In order to truly understand what is meant by a surban area, let’s examine some specific examples. Think grown-up college campus. A walkable place to dine, work, live and play. Strip mall retail. Less emphasis on giant suburban malls. Let’s start with one of the original town centers.

In 1964, an internationally known planned community known as Reston, Va., was founded. When Reston founder Robert E. Simon, Jr., bought the Northern Virginia farmland 20 miles outside of Washington, D.C., he had the vision of developing a community that would embrace walkability, density, access to green space and a diversity of races and income levels.

In 1990, Reston Town Center opened. This iconic town center is described by CityLab as “a dense cluster of offices, restaurants and shops, centered on a wide-open plaza with a fountain…a community gathering spot.” Nearly 24 years later, the Silver Line Metro station opened in Reston, which ultimately perfected the interconnectedness of the community and city center by decreasing the need for cars.

When Reston Town Center was nearing completion in 1990, Kenneth P. Wong, senior development manager for the project, told the Washington Post: “The idea of a downtown in the suburbs was something that no one really had a grip on; it’s a very complicated proposition that needed a long [research and development] gestation period.”

The Surban Future
Today, suburban downtown areas are popping up throughout the country. Though Reston wasn’t the only place developing the blueprint for “surban” developments, it is often referred to as one of the most successful influencers.

Here are some of the other notable surban developments:

• Downtown Naperville, Ill., in the suburbs of Chicago

• Old Town Pasadena, Calif., in the suburbs of Los Angeles

• A-Town in Anaheim, Calif., in a neighborhood around the Angels Major League Baseball park

• Legacy Town Center in Plano, Texas, in the suburbs of Dallas

• Santana Row in San Jose, Calif., on a former rundown mall site

• City Centre in Houston, Texas, on a former rundown mall site

• Downtown Tempe, Ariz., in the suburbs of Phoenix

• Larkspur, Calif., north of San Francisco, with new housing sandwiched between a top-notch high school and a rejuvenated old downtown

• Geneva, Ill., in the suburbs of Chicago

These types of livable areas are projected to have a profound impact on many areas of real estate in the next several years.

Experts predict that surban developments will replace shopping centers. More retail stores will become places that sell experiences rather than goods, and more development will combine housing and retail to satisfy consumer demand for sites that offer convenient car-free shopping. Suburban office demand will also return. As Gen X and millennials move into more senior management roles and start families, many will move from urban cores to the suburbs to live in areas with good schools, but which are also near employment hubs and entertainment and recreational amenities. They will be willing to share space and work remotely.

What the Surban Trend Means for Housing
The focus is on rental properties, as rates are expected to surge over the long term. The de-emphasis on ownership will be reflected in soaring demand for rental units.

Well over half of the 12.5 million net new households created over the next decade will rent, including those who have never owned, and those making the switch from owning to renting as they age. Some experts believe homeownership will decline, with the national rate anticipated to be 60.8 percent by 2025—the lowest point since the 1950s.

As more people join the already large number of retirees, competition for workers will push up wages, contributing to a favorable environment for rent increases.

There may also be broader choices in housing options. For the most part, housing areas have historically been categorized based on single-family residences, townhomes, condominiums or multi-family buildings. The development and advancement of surban living have already begun blending housing options in a selected area. It will not be uncommon to find townhomes and condos mixed in with single-family residences. Ownership and rentals will exist in closer proximity to widen the retail base of the homes and provide an array of options for millennials.

The Power of Home Staging and Professional Photography

Staging and quality photography sells homes faster and for more money!

 Is your home ready to hit the market?

If your home has been lived in, the first thing you’ll probably need to do is organize and downsize a bit, or at least move some things out. Buyers will want to see what storage space is available, and they can’t if it’s already full of stuff!

Once your home is cleared out a little, your realtor or a pro home stager can recommend how to use the furnishings and accessories you already have to display each room in the most appealing way. For maximum effect, that might mean adding a little paint, changing up some rooms, or adding strategic lighting to make a room feel bigger or cozier . 

Professional photography is an important companion to expert home staging. You know what your home looks like in person, but most buyers will be just glancing at photos online before they decide to view it themselves. Sharing those photos in the home's digital marketing plan will get the most attention of the greatest number of buyers, who will then want to see the home in person.  Those photos should sell!

I’m such a big believer in staging and professional photography I include it as part of my comprehensive listing package. I know that it’s helped me sell homes more quickly. Well staged and photographed homes get more views online, more shares on social media, and more offers!

Give your home the glamour treatment with tasteful staging and eye-grabbing photos. 

5 REASONS TO SELL YOUR HOME NOW

If you’ve been sitting on the fence about selling your home, the time to hop off is NOW.  To put it in other terms: 2017 is poised to be the year of the home seller, real estate experts say. So what are you waiting for?

Reason No. 1: Mortgage rates are still low

It’s all about rates, baby. Low mortgage rates translate to lower monthly costs. Lower costs entice buyers, which is good for sellers. Although mortgage rates have been ticking up since mid-October to slightly over 4%, the rates for a 30-year fixed mortgage—the most popular home loan—are still hovering near 30-year lows. But all indicators point to more increases this year. They could be in the 4.6% to 4.8% range by the end of the year. What does that have to do with home sellers? Well, potential buyers who are armed with that knowledge might hustle to close on a home before a rate hike.

Reason No. 2: Inventory is shrinking

Remember in Econ 101, when you learned that low supply and high demand lead to rising prices? The same is true—in spades—for residential real estate. When inventory shrinks, available homes become more valuable. As Martha Stewart would say, that’s a good thing for sellers.  Quite simply, sellers this year have the least competition.

And get this: Not only are there fewer homes for sale, but the time those homes have spent on the market has decreased year over year as well. If priced correctly, the typical home should move quickly.  And that’s another boon for sellers.

Reason No. 3: Home prices are rising

Lower inventory and greater demand have pushed up home prices. The median existing-home price of $263,000 in the Providence/Warwick Metro Market was up 6.7% in 4th quarter 2016 compared to the year prior. And that’s no fluke, as prices have gained over the last four and half years.  Higher prices particularly benefit the seller whose property value plunged during the recession, sometimes to less than what was owed. Thanks to rising prices, many homeowners whose property was underwater can now sell without suffering a big loss.

Reason No. 4: Job markets and consumer confidence are up

As unemployment decreases and wages (finally) increase, consumer confidence will climb. The National Consumer Confidence Index®, which had increased in February, improved sharply in March. The Index now stands at 125.6 (1985=100), up from 116.1 in February. Increased confidence will spur buyers to jump into the market—which is, you guessed it—more good news for sellers.

Reason No. 5:  Great market for downsizing

There are opportunities for a seller-turned-buyer who wants to downsize in this market.  You can lock in financing rates that you’ll never see again, optimize your equity on the sale of your home, and “rightsize” your home and living expenses—a tremendous trade off!  Check out my recent blog post on Rightsizing