Home Updates That Actually Pay You Back When You Sell

Planning to sell this spring? While you may be tempted to hold off until the first blooms or the spring showers hit, that's actually waiting too long to get started by today’s standards.

Buyers have more options than they did a few years ago. So, it's worth it to tackle repairs now and make sure your house is set up to stand out. Because you don’t want to be caught scrambling right before the spring rush. Or, running out of time to do the work your house really needs. 

The key is focusing on updates that actually matter. And that’s exactly where return-on-investment (ROI) data comes in handy.

Which Projects Tend to Pay Off?

Every year, Zonda looks at which home improvements deliver the most bang for the buck when you go to sell the home. And the results can be a little surprising.

The green in the chart below shows the updates where sellers have the biggest potential to add value based on that research:

While there's a wide range of projects represented in this data, the cool part is, some of the top winners aren’t big to-do's. They’re just swapping out doors.

Small Updates, Big Visual Impact

This goes to show little projects can have a big impact. So, you don’t have to spend a fortune. And you don’t need to tackle everything on this list. But in today’s market, doing nothing can work against you.

Now that buyers have more homes to choose from, a lot of them are going to opt for what’s move-in ready.

The best advice? Focus on what your house needs, whether it’s listed here or not – like the repairs you’ve been putting off. A front door or shutters in need of a little TLC. Piles of leaves in the yard. Scuffed up paint where your kids play inside. Those details matter too.

Mallory Slesser, Interior designer and Home Stager, explains it to the National Association of Realtors (NAR) this way:

“If you’re looking for affordable updates that pack a punch, dollar for dollar, I would say painting; changing out light fixtures; changing out hardware; maybe new draperies or window treatments. Those are all cost-effective ways to make a big statement. It really changes the space.”

These seemingly small things help buyers focus on the home itself – not the work they think they’ll have to do after moving in. And that’s paying off for other sellers. Buyers are often willing to spend more on homes that feel well cared for, updated, and move-in ready.

This Chart Is a Starting Point, Not a Strategy

Here’s the important thing to remember. National data like this is a guideline. Buyer preferences are going to vary by location, price point, and even neighborhood. That means a project that boosts value in one area might be unnecessary (or even overkill) in yours.

That’s why the first step should always be to talk with a local real estate professional before you start.

An experienced agent can help you answer questions like:

• Which updates do buyers in your market expect?
• What can you skip without hurting your sale?
• Where will a small investment make the biggest difference?
• Is it better to update, or sell as-is?

That guidance helps you avoid over-improving and under-preparing.

Bottom Line

If you’re looking to sell this spring, you still have time to make updates that help your home stand out – without taking on a full renovation.

If you’re not sure where to start, let’s talk through what makes sense for your house. A quick conversation can help you prioritize the updates that’ll pack the biggest punch.

What’s one upgrade you’ve been thinking about – and wondering if it’s worth it?

Mortgage Rates Are Stabilizing – How That Helps Today’s Buyers

Over the past few years, affordability has been the biggest challenge for homebuyers. Between rapidly rising home prices and higher mortgage rates, many have felt stuck between a rock and a hard place.

But, something pretty encouraging is happening. While affordability is still tight, mortgage rates have shown signs of stabilizing in recent months. And that may finally make it a bit easier to plan your move.

Mortgage Rates Have Stabilized – For Now

Over the past year, mortgage rates have had their share of ups and downs, making it tough for buyers to know what to expect. But recently, rates have started to level out and have settled into a more narrow range (see graph below):

As the graph shows, rates have stayed within that half-percentage-point since late last year. Yes, there’s been movement within that range, but wild swings and sudden ups and downs just haven’t been the story lately. And that’s a bigger deal than you may realize. As HousingWire explains:

“Analysts, economists and mortgage professionals are coining this quarter’s activity as one of the most “calm” periods for mortgage rates in recent memory.”

How This Helps Today’s Buyers

Let’s be real. Unpredictability makes it tough to plan ahead. When rates are bouncing around and making big jumps week to week, it’s easy to be intimidated. But with rates staying in a pretty steady range over the past several months, you have a clearer picture of what your potential monthly payment could look like. That makes moving feel less uncertain – and more doable.

So, stop waiting. And start planning. Even though rates may not be where you want them to be right now, they have been much less volatile for quite some time.

Will This Stability Last?

According to the experts, it looks like that stability might hang around for a bit. Rates may come down ever so slightly in the months ahead, but it’ll likely be a slow and mild change. As Danielle Hale, Chief Economist at Realtor.com, says:

“I expect a generally downward trend for rates this year, but at a slow enough pace that it might not be noticeable in any given month.”

So, if you’ve been holding out for the perfect mortgage rate, the best advice is to avoid trying to time the market. It may not look terribly different than the opportunity you already have in front of you. As Jeff Ostrowski, Housing Market Analyst at Bankrate, explains:

“Trying to time mortgage rates is really difficult. There’s no guarantee that rates are going to be any more favorable in three months or six months.”

And if we look at the latest expert forecasts that go out a bit further, even those tell much of the same story. Two out of the three projections say rates will still likely be in the mid-6% range by the end of 2026 (see graph below):

This puts today’s buyers in a much better spot. As Sam Khater, Chief Economist at Freddie Mac, explains:

“Mortgage rates have moved within a narrow range for the past few months . . . Rate stability, improving inventory and slower house price growth are an encouraging combination . . .”

Just remember, mortgage rates are still going to react to changing economic conditions, inflation, and more – and that means they could shift again. But right now, you’ve got more predictability, and that means more opportunity, too. 

Bottom Line

While affordability is still a challenge, the market may be offering a bit more stability – and that makes planning your next move a lot easier.

Let’s connect if you want to run the numbers and see what a monthly payment would look like in today’s market. That way you can stop waiting and start planning.

Think No One’s Buying Homes Right Now? Think Again.

If you’ve seen headlines saying home sales are down compared to last year, you might be thinking – is it even a good time to sell? 

Here’s the thing. Sure, the pace of the market has cooled compared to the frenzy we saw just a few years ago, but that’s not a red flag. It’s a return to normal. And normal doesn’t mean nothing’s happening. Buyers are still out there – and homes are still selling.

Why? Because real life doesn’t pause for perfect conditions. There are always people who need to buy – and this year is no exception. Buyers who are in the middle of a big change in their lives, a new marriage, a growing family, or a new job still need to move, no matter where mortgage rates are. And they may be looking for a home just like yours.

Every Minute 8 Homes Sell

Let’s break it down using the latest sales data from the National Association of Realtors (NAR). Based on the current pace, we’re on track to sell 4.03 million homes this year (not including new construction).

• 4.03 million homes ÷ 365 days = 11,041 homes sell per day
• 11,041 homes ÷ 24 hours = 460 homes sell per hour
• 460 homes ÷ 60 minutes = roughly 8 homes sell every minute

That means in the time it takes to read this, another 8 homes will sell. Let that sink in. Every minute, buyers are making moves – and sellers are closing deals.

The Right Agent Makes All the Difference

If you’ve been holding off on selling your house because you think buyers aren’t out there, let this reassure you – there are still buyers looking to buy.

But since the market is balancing out, selling today takes more than just putting up a sign in the yard. You’ve got to price your house right, market it well, and know how to reach the buyers who are ready to act. That’s where a trusted local agent comes in.

They’ll help you navigate this market, position your home to stand out, and guide you through every step.

Bottom Line

The market hasn’t stopped. Buyers are still buying. Life is still happening. And if selling your home is part of your next chapter, let’s make it happen.

Roughly 11,000 homes are selling every day – and yours could be next. When you’re ready to take the next step, let’s connect.

Secrets To Selling Your House Quickly

Seeing your house sit on the market without any bites is the ultimate frustration. And unfortunately, some sellers are in that tricky spot today.

According to data from the National Association of Realtors (NAR), the average time a house spends on the market has increased over the past few years (see graph below):

A recent post from Realtor.com notes a similar trend:

“During the week ending Sept. 14, homes stayed on the market eight days longer compared to last year. With more choices available and mortgage rates expected to fall, buyers are taking their time, which means sellers will need to be patient and flexible.”

Some of that is because inventory has gone up, so buyers have more options. And higher mortgage rates have definitely slowed demand over the past two years, and that’s out of your control. But here’s the secret. There’s something you can control – it's also where those other sellers missed the mark. They didn’t work with the right agent.

Make no mistake, with the right strategy and agent partner, your house can still sell quickly, even today.

If time matters to you, you need to partner with an agent who understands this shifting market. That agent will be your go-to resource on what buyers are looking for right now, and how to position your home to hit the mark.

Here are just a few tips a great real estate agent will walk you through. They may seem simple, but advice like this can make all the difference.

1. Competitive Pricing: One of the most critical factors in selling your home quickly is setting the right price. A local real estate agent will do a competitive market analysis by reviewing recent sales and current listings for your area. Then, they’ll use that data to make sure your home is priced accurately for today’s market. This strategic pricing approach is the best way to make sure you’re hitting the sweet spot on price. If you don’t lean on an agent for this, it can really slow your process down. As U.S. News says:

“. . . setting an unrealistically high price with the idea that you can come down later doesn’t work in real estate . . . A home that’s overpriced in the beginning tends to stay on the market longer, even after the price is cut, because buyers think there must be something wrong with it.”

2. The Home’s Condition: Homes that are well maintained, have great curb appeal, and are updated with modern finishes tend to sell faster. So, if speed is a priority, make sure your house makes a great first impression. An agent is a key resource on what buyers will be looking for, if staging is worthwhile, and what repairs you need to tackle before you list. Ramsey Solutions offers this advice:

“In the spirit of selling your home fast, take care of things now that will be a problem in the closing process. Talk to your agent about fixes you’ll need to make to pass the home inspection, like: plumbing problems, roof damage, electrical issues, HVAC glitches. . . These are issues you’ll be expected to take care of before any buyers close on your house—you might as well get ahead of the game to help your home sell faster.”

3. Incentives and Extras: If you want to stand out from those other homes on the market, offering incentives or concessions, like help with closing costs, a home warranty, or including additional items (like appliances or furniture) with the sale can sweeten the deal for buyers. A real estate agent can suggest the right incentives to offer based on current market conditions and buyer expectations, so you can close the sale even faster.

Bottom Line

Selling a home quickly in a shifting market requires a strategic approach and an in-depth understanding of what buyers want. That’s why partnering with a local real estate agent is so important. As Forbes says:

“When time is of the essence, you can’t afford to take a chance on an inexperienced housing professional. Instead, you’ll want to work with a real estate agent who knows your market and has helped sellers in your situation before.”

Let’s connect to make sure you’re set up for success.

Falling Mortgage Rates Are Bringing Buyers Back

If you’ve been hesitant to list your house because you’re worried no one’s buying, here’s your sign it may be time to talk with an agent.

After months of high rates keeping buyers on the sidelines, things are starting to shift. Rates are already coming down due to a number of economic factors. And yesterday the Federal Reserve cut the Federal Funds Rate for the first time since they began raising that rate in March 2022. And while they don’t control mortgage rates, this sets the stage for mortgage rates to fall even further than they already have – especially since more cuts from the Fed are expected into next year. And lower mortgage rates are bringing more buyers back into the market. Lisa Sturtevant, Chief Economist at Bright MLS, says:

“A drop in the cost of borrowing will help fuel more homebuyer demand . . . Falling rates will also bring more sellers into the market.”

The best part? You can take advantage of that renewed buyer interest.

As Rates Fall, Buyer Activity Goes Up

The graph below illustrates the relationship between falling mortgage rates and rising buyer activity. The orange line represents the average 30-year fixed mortgage rate, while the blue line shows the Mortgage Bankers Association (MBA) Mortgage Application Index, which tracks the number of mortgage applications.

As you can see, as mortgage rates (orange) come down, the Mortgage Application Index (blue) rises, showing more people start to re-engage in the process (see graph below):

What This Means for You

According to the National Association of Realtors (NAR), home sales increased in July, which was a welcome shift after four straight months of declines. If you're a homeowner thinking about selling, this uptick in buyer activity works in your favor.

More buyers means more competition, which can lead to higher offers and shorter time on the market for your house. And, according to Edward Seiler, AVP of Housing Economics at the Mortgage Bankers Association (MBA), this trend is expected to continue:

“MBA is expecting that slower home-price appreciation, coupled with lower rates, will ease affordability constraints and lead to increased activity in the housing market.”

All in all, the market is becoming more accessible to a wider range of buyers, which could result in even more people looking to purchase a house like yours.

With more buyers entering the market, now’s the time to start getting your house ready to sell.

Bottom Line

The recent decline in mortgage rates is already driving more buyers into the market, and experts project this trend will continue. Let’s work together to take advantage of this increased buyer demand and get your house ready to sell.

3 Must-Do’s When Selling Your House in 2024

If one of the goals on your list is selling your house and making a move this year, you’re likely juggling a mix of excitement about what’s ahead and feeling a little sentimental about your current home.

A great way to balance those emotions and make sure you’re confident in your decision is to keep these three best practices in mind when you’re ready to sell.

1. Price Your Home Right

The housing market shifted in 2023 as mortgage rates rose and home price appreciation started to normalize once again. As a seller, you still need to recognize how important it is to price your house appropriately based on where the market is today. Hannah Jones, Economic Research Analyst for Realtor.com, explains:

“Sellers need to become familiar with their local market and work closely with a local agent to make sure their listing is attractive to buyers. Buyers feeling the pressure of affordability are likely to be pickier, so a well-priced, well-maintained home is the ticket to drumming up big demand.”

If you price your house too high, you run the risk of deterring buyers. And if you go too low, you’re leaving money on the table. An experienced real estate agent can help determine what your ideal asking price should be, so your house moves quickly and for top dollar.

2. Keep Your Emotions in Check

Today, homeowners are staying in their houses longer than they used to. According to the National Association of Realtors (NAR), since 1985, the average time a homeowner has owned their home has increased from 6 to 10 years (see graph below):

This is much more than what used to be the norm. The side effect, however, is when you stay in one place for so long, you may get even more emotionally attached to your space. If it’s the first home you bought or the house where your loved ones grew up, it very likely means something extra special to you. Every room has memories, and it’s hard to detach from the sentimental value.

For some homeowners, that makes it even tougher to separate the emotional value of the house from fair market price. That’s why you need a real estate professional to help you with the negotiations and the best pricing strategy along the way. Trust the professionals who have your best interests in mind.

3. Stage Your Home Properly

While you may love your decor and how you’ve customized your house over the years, not all buyers will feel the same way about your vibe. That’s why it’s so important to make sure you focus on your home’s first impression, so it appeals to as many buyers as possible.

Buyers want to be able to picture themselves in the home. They need to see themselves inside with their furniture and keepsakes – not your pictures and decorations. As Jessica Lautz, Deputy Chief Economist and Vice President of Research at NAR, says:

“Buyers want to easily envision themselves within a new home and home staging is a way to showcase the property in its best light.”

A real estate professional can help you with expertise on getting your house ready to sell.

Bottom Line

If you’re considering selling your house, let’s connect so you have help navigating the process while prioritizing these must-do’s.