It’s hard to say goodbye to a great backyard. You’ve made memories watching the kids climb trees, cooking out, or swimming with neighbors if you have a home with a pool. Now that you’re ready to find a buyer, it’s natural to think that others will be willing to spend an arm and a leg for the same outdoor space you’ve enjoyed.
Imagine you're selling your home, and two offers arrive on the same day. One buyer offers $450,000. The other offers $440,000. At first glance, the decision seems obvious…But real estate offers are rarely that simple.
Many prospective home buyers seek out older houses in St. Louis over newer, modern builds because of their unique charm and character. St. Louis is home to a variety of distinctive houses, from cute bungalows and “gingerbread” style Tudor revivals to more stately Soulard historical builds. Many of these homes are filled with one-of-a-kind features, like stained glass windows, beautiful hardwood floors, and built-in shelves and cubbies.
Whether your family is growing or you simply want more space to entertain, you may be contemplating moving to a larger home. But along with extra space comes extra maintenance and expenses — including some that are not immediately obvious.
According to St. Louis Real Estate News, a significant share of active listings across the region have been on the market for more than 60 days. The cause? Well, it’s complicated. It’s not that we are in a slow market. Rather, it’s a selective market. With more inventory becoming available, buyers are hesitant to purchase something they’re not sure is worth the mortgage payment.
From Kirkwood and Webster Groves to Maplewood and parts of St. Charles, the most desirable homes still move fast in today’s St. Louis real estate market. In fact, it’s not unusual to see multiple offers within the first few days. For many buyers – especially first timers and relocators – that pressure creates a frustrating illusion: either stretch your budget to win or brace yourself to lose again.
Most sellers breathe a sigh of relief after accepting an offer. In a perfect real estate world, that means the home’s status can be switched from active to pending, the buyer’s loan will go through with flying colors, the For Sale sign can be removed, and closing day will be within a month or so.
Whether you’re a new empty nester or you’ve recently retired, you’re likely contemplating the idea of a smaller home. Less square footage typically means less space to take care of, with fewer rooms and a smaller yard (or no yard at all). But is downsizing worth it if it means giving up favorite things about your current house, or having to leave a neighborhood you love?
With budgets already stretched thin along with higher interest rates, today’s buyers are more selective than ever regarding homes they’re willing to purchase. They don’t want to get stuck with a home they’ll need to sink even more money into after closing. In fact, according to a recent report from Zillow, buyers are willing to pay up to 4% more (an average of $13,000 for the average American home) for a move-in-ready listing that doesn’t need renovations or repairs.
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