How to Get Your Home Ready to Sell
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What is the main topic discussed in this episode?
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Here's your Money Briefing for Friday, September 9th. I'm J.R.
How are rising mortgage rates changing the home-selling landscape?
Whalen for The Wall Street Journal. A year ago, buyers were scooping up homes almost as fast as sellers could put them on the market. Now, with mortgage rates approaching 6%, buyers are more selective, and sellers may have to do a lot more than just put up a for-sale sign in the front yard.
What is the Wall Street Journal Mansion series aiming to teach sellers?
Homes aren't hopping off the market 24 to 48 hours later. And sellers are having to put a little bit more effort in. And so the competition among sellers has ramped up.
The Wall Street Journal's mansion section is launching a new series of features to help home sellers make a plan before they put their house on the market. Everything from giving their home a paint job to whether or not to use a real estate agent. Senior editor Kerry Barger will join us to talk about it after the break.
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Mortgage rates hit a 14-year high this week, and they're expected to keep on rising. For many home sellers, that means they'll have their work cut out for them, trying to attract cost-conscious buyers.
How can a fresh paint job impact a home’s sale price and speed?
Keri Barger is a senior editor with the Wall Street Journal's Mansion section, which is launching a series of stories with tips for home sellers who want to stay ahead of the competition. Hey, Keri, thank you very much for being with us. Thanks for having me. So, Keri, we've been talking on the show a lot about the housing market and the changes it's undergone in just the past few months. What are you hoping that people get out of this series?
With the market arriving at a turning point, we're hoping this series gives sellers tips and advice on how to list their homes. With mortgage rates rising and properties lingering on the market a little bit longer than they did in that pandemic-era buying frenzy, sellers are needing to do more.
Should sellers hire professionals or paint their homes themselves?
I just don't think that sellers can put their homes on the market and then buyers are lining up at the front door anymore like they used to. Homes aren't hopping off the market 24 to 48 hours later and sellers are having to put a little bit more effort in. And so the competition among sellers has ramped up.
Okay, so let's talk about how sellers can make the most of the current market. Last year, we heard stories of people buying homes sight unseen, but rates up near 6% might make them more selective, and that might leave sellers trying to grab the spotlight for their home and wondering, where do I start?
So our first topic in this series addresses painting. Painting your home is one of the easiest things that you can do to freshen up to get it ready for the market, whether that giving the interior a new paint job or re-examining what color is on the exterior of your house. You know, for buyers, first impressions are everything, and a paint job could really help tip the scales. We talked to a Sotheby's international realty agent. Her name was Pat Ward, and she said that painting can result in not only a higher sale price, but also a faster sale, too.
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Chapters
7 chapters
1
What is the main topic discussed in this episode?
0:00–0:39
2
How are rising mortgage rates changing the home-selling landscape?
0:39–0:55
3
What is the Wall Street Journal Mansion series aiming to teach sellers?
0:55–2:08
4
How can a fresh paint job impact a home’s sale price and speed?
2:08–2:45
5
Should sellers hire professionals or paint their homes themselves?
2:45–5:48
6
What is home staging and how does it help buyers visualize a property?
5:48–7:18
7
Which repairs and upgrades typically do — or don't — pay off before selling?
7:18–8:19
Speakers
3 identifiedMore from WSJ Your Money Briefing
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