Strategies to Sell Your Spokane, WA Home

What should I consider and learn when selling a property? Where should I start if I want to sell my house in Spokane? You probably have a lot of questions right now as you plan to put your home on sale.

Navigating any housing market can be tricky and challenging, but with the right strategies, you can expedite selling your home and increase your chances of a successful sale.

This article provides tips for selling a home in Washington to help you sell your property efficiently and for a competitive price. These strategies will empower you to confidently navigate the selling process and achieve your goals.

Understanding the Spokane Real Estate Market

To sell a house in Spokane, WA, you must first understand the city’s current real estate market condition. This will help you sell your home faster and at a competitive price.

As of May 2024, selling houses in Spokane is a good idea because it is currently a seller’s market. This means many people are looking for homes, and the demand exceeds the available inventory, putting sellers in advantageous conditions.

With more prospective buyers than homes on the market, sellers can often negotiate favorable terms and achieve smooth transactions.

The average value of a home in Spokane as of May 2024 is $391,095, which increased by 1.3% in the last year. Meanwhile, the median price for a house in Spokane in March 2024 was $352,167. Each square foot of a home in Spokane costs about $212, which increased by 1.4% since last year.

As of March 31, 2024, 607 houses were for sale in Spokane, and 240 new ones were on the market. The report predicts that house prices in Spokane will keep increasing slowly but steadily.

By April 30, 2024, prices are expected to rise by 0.2%, then by June 30, 2024, by 0.6%, and by March 31, 2025, by a hefty 2.6%.

Setting the Right Price

To set the right price for the home you are selling, you must check your property’s value and the current market conditions. No matter the market condition, you will do better if you determine the fair market value and stick your price close to it.

You should learn the prices of similar homes and how long they took to sell. Visiting multiple listing services (MLS) is recommended, as they have the most accurate information.

A comparable home is similar to yours in age, style, size, condition, and location. When looking for these kinds of homes, find at least three that sold within the last six months or three months if the market changes quickly. Look for homes that meet the following criteria:

The location is within a quarter-to-half-mile of your home.
The time it is sold is within the past three to six months.
The size is within about 300 square feet of your home’s size.
It has the same number of bedrooms and bathrooms.
Consider recent renovations, updates, or needed repairs.
Built around the same time as your home.

You must remember that buyers nowadays are knowledgeable. They spend time checking properties online and offline.

Most buyers and real estate agents can quickly tell if a property is overpriced. Overpriced homes often stay unsold for months, and the price usually drops to where it should have been at the start.

Furthermore, the home price can be adjusted depending on the season. Homes often sell faster in spring and early summer and slower in winter. Prices can be lower in slower seasons to attract buyers.

You can also hire a local appraiser to estimate your home value. An appraiser provides valuable information and helps ensure your asking price is realistic.

Home Staging Techniques

If you ask yourself how to sell my house in Spokane faster, one helpful answer is learning home staging techniques to attract more buyers. Below are some helpful tips you can use to enhance your home before listing it for sale.

Improve Curb Appeal

Curb appeal equates to how nice your home looks from the outside. Most people look for homes online, so a good image of your home is very important.

Even though improving the curb appeal of your home property can be costly, it will significantly impact your home’s sales price. Properties with beautiful exteriors sell for about 7% more than uninviting exteriors. Here are some essential tips to improve your curb appeal:

Mow the lawn and make sure to tidy up the landscaping.
Make sure the exterior paint is in good condition; repaint if needed.
Clean the roof and replace it if necessary.
Ensure the driveway is free of cracks and weeds.
Power wash the exterior so it looks clean.
Fix any signs of mold or mildew.
Paint or replace (if needed) the front door, windows, and gutters.
Repair or replace light fixtures.
Ensure other exterior features like the porch, pool, or fire pit look neat.

Update the Kitchen

The kitchen is a key selling point. Simple updates can make a big difference without costing much. Here are some tips:

Clear clutter and show off storage space.
Paint cabinets or change outdated hardware.
Replace old faucets.
Use peel-and-stick contact paper to update appliances.
Update the backsplash with peel-and-stick tiles or paint.
Reduce and Rearrange Furniture
Remove excess furniture to make your home look bigger. Buyers should be able to move around quickly and see your home’s best features.

Arrange furniture away from walls to make the house look bigger. When selling a home, you want your potential buyers to move freely around each room without being blocked by the furniture.

When placing furniture, remember that buyers should have easy access to your home’s best features, like the built-in bookshelves, fireplace, and windows.

Remove Personal Items

Buyers need to imagine themselves in your home. Remove family photos, personal collections, and other personal items.

Show Off Storage Areas

Storage is among buyers’ top priorities when looking for a home. Declutter closets and cabinets. Use matching baskets and bins to keep things neat. Add fresh-smelling sachets to the linen closet. Add shoe racks and under-shelf baskets to show the versatility of your storage.

Show Clean Bathrooms

Nothing turns off a potential buyer more than a dirty bathroom. Thus making bathrooms spotless.

Remove hard-water stains, mold, and clutter. Use new shower curtains, rugs, and bathmats. Fix discolored grout and recaulk, especially around the tub or shower. After an extensive cleaning, create a spa look with white towels, candles, and fancy soaps for extraordinary images.

Improve Lighting

Good lighting makes your home warm and inviting. Use brighter bulbs, like a bulb with 100 watts for every 50 square feet. Furthermore, three types of lighting are used: ambient (general or overhead), task (pendant, under-cabinet, or reading), and accent (table and wall).

Hide Pet Signs

Although we love our beloved furry friends, some buyers don’t like or are allergic to the smell of pets and may turn them off. So, thoroughly clean areas where pets spend time often and use air fresheners. When buyers visit, remove pet items and take your pets out of the house.

Use Color

Add bold colors in small spaces like a powder room or dining room. Paint an accent wall to highlight a feature. Use wallpaper or paint inside built-in bookcases or niches.

Make Bedrooms Luxurious

Create a cozy and inviting main bedroom. Use a lovely duvet and add colorful pillows and blankets. Keep nightstands clear of personal items.

Utilizing Real Estate Agents

Working with a local realtor in Spokane will greatly ease your selling journey, as they can provide expert help to sell your home. They have the best market data, unlike websites that can give wrong pricing. Real estate agents know the local market well and deeply understand house prices and trends.

Most buyers also find homes through real estate agents, not by calling numbers on signs. Agents have access to many listings and know how to market properties well through the MLS, office networks, broker tours, and open houses.

With the best strategies, they can help you buy or sell in a competitive market. Agents handle more than just price negotiations. They also know how to deal with repairs, closing costs, timelines, and inspections. If you sell your home alone, you might sell for less or face legal issues.

Furthermore, real estate agents work closely with every third party involved in the sale, like loan officers, title companies, appraisers, and inspectors. They know all the details and deadlines to keep the process smooth and easy.

Agents can also screen potential buyers to ensure they are pre-qualified or pre-approved. This means fewer but more serious showings, saving you time and effort. Overall, working with a real estate agent offers many benefits in terms of cost, market knowledge, and negotiation skills.

Open Houses and Showings

To sell a house in Spokane, listing it online is a very important step. However, you can also do open houses and showings besides listing it online.

A showing is a scheduled visit where a potential buyer tours your home with a real estate agent. The agent may be your agent or another licensed professional approved by your agent. For safety, you must never let a buyer tour your home alone.

It’s also best not to be at the house you sell during showings so buyers can talk freely with their agent.

On the other hand, an open house allows buyers to walk through your home, usually for a few hours on a weekend or early evening.

Many buyers come without their agents because they are early in the process and may not have an agent yet. Your agent will host the open house, sign in visitors, and answer questions on your behalf.

Remember that your home should look its best for showings and open houses. Tidy up your home! Put away unnecessary items, clear countertops, wash dishes, organize desks and tables, clean floors, especially bathrooms, and ensure clean kids’ rooms.

Moreover, try to keep pets out of the home during these times, as some buyers may not feel comfortable around them. You might consider temporarily moving your pets while your home is for sale.

Maximizing Online Presence

With more people using technology to search for things they are looking for, having a solid online presence is very important to stand out, especially in the crowded real estate market.

Today, many home buyers use the internet to find homes. The National Association of Realtors says 93% of potential home buyers use the internet when searching for homes for sale. So, a strong online presence helps attract buyers and sell your house quickly at a reasonable price.

First impressions matter for online home listings. To impress buyers, you need high-quality photos that show your home’s best features. You should hire a professional housing photographer to take images of your home. They know how to make your home look its best.

Many online real estate websites reach many buyers, like Zillow, Redfin, and Realtor.com, where you can list your home. Include professional photos, a virtual tour, and a good description when you list your home on these websites.

Use important keywords in your title and description to make your online listing more visible. Consider what buyers might search for, like “spacious backyard” or “outdoor living space,” and include these in your listing.

Good reviews from previous buyers can also attract new buyers. Ask past buyers to leave a review or testimonial on your online listing or social media. These reviews build trust with potential buyers and make them feel confident about your home and selling process.

Incentives and Negotiation Strategies

If you want to expedite selling your home, consider offering incentives. Incentives can help buyers choose your home over others. Incentives can include paying for closing costs, providing money for repairs, or including high-end appliances that make your home more attractive.

According to Forbes, offering such perks can help sell your home faster.

Preparing for Inspections and Appraisals

The best way to pass a home inspection is to get one before you list your home for sale. This pre-listing home inspection helps you find and fix any problems early, so you won’t be surprised by the buyer’s inspection. If you find a problem, fix it as soon as possible.

It could be a big issue like a broken air conditioner or a small one like a loose cabinet handle. However, minor issues can be significant for buyers.

Don’t wait for the buyer’s inspector to find problems. Fixing things early can prevent delays, attract more buyers, or raise your home’s price.

You can also share the inspection report with buyers to show transparency and highlight the repairs you’ve made.

Even after you’re under contract, keep up with regular maintenance. A clean and well-kept house can make a good impression. A cluttered or dirty home can make it hard for the inspector to inspect and might cause pests. So, clean your home before the inspection.

The outside of your home matters, too! The inspector will check the whole property. Fix things like damaged siding, loose roof shingles, and dented gutters. Clear any clutter to make it easier for the inspector to move around and check your house.

Wrap Up

Selling a home is truly an exciting but challenging journey involving careful consideration and preparation.

If you have further questions about selling homes in Spokane, WA, please do not hesitate to contact us at (509) 230-5363 or via sweethomepnw@gmail.com. I will be glad to assist you in every step of the process!

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Strategies to Sell Your Spokane, WA Home

Understanding the Spokane Real Estate Market

Setting the Right Price