Since the late 2000’s housing crash, the real estate market has rebounded significantly in the United States. Limited inventory and low interest rates are creating an ideal environment for home sellers in some locations including Chehalis, Washington. Home buyers on the other hand face escalating prices, prolonged home search periods, and bidding wars.

This competitiveness in the real estate market prompts many people to wonder what exactly influences home prices in Chehalis, Washington. Basically, there are several factors that affect home prices and the housing market in general. These will influence the price of your house once you decide to sell it. When you know these factors, you can easily estimate the asking price to set for your property in Chehalis, Washington.

Location

The location of a home has an impact on the life and lifestyle of the persons that live in it. For instance, the quality of schools that children of a family that lives in a home can attend is one of the major factors that home buyers consider. Proximity to the local opportunities for employment is also a crucial factor for employment-age home buyers. Similarly, proximity to shopping, social and recreational centers is a crucial factor that home buyers consider. It’s important to note that these factors can be dependent on each other. For instance, a home buyer could be looking for a home whose location enables them to pick kids on their way from work.

Conditions of the Real Estate Market

When selling a home in Chehalis, Washington, it’s important to know the prevailing market conditions. A real estate market can be a sellers’ market, a buyers’ market or a balanced market. A sellers’ market is favorable to sellers while a buyers’ market is favorable to buyers. A balanced market is created when homes for sale are supplied evenly and potential buyers are ready and willing to buy them. A sellers’ market will enable your home to fetch a better price.

Inspection Report

Unless you sell your property to a cash home buyer or a company that buys homes fast, like KDS Homebuyers, the inspection report of your home will influence its selling price. Usually, an inspection report affects the sale price downwards. That’s because it unearths issues that will require repairs. The more the report recommends repaired, the larger the room it gives the buyer to negotiate the sale price of a home. That’s why a homeowner may opt to sell their home as is to a cash home buyer that won’t ask for an inspection report.

Upgrades and Updates

If your home has major upgrades or updates, it can fetch a higher price in the market. That’s because most home buyers in Chehalis, Washington are looking for move-in ready homes. In fact, most home buyers will pay more to enjoy the comfort that some home upgrades and updates bring. Therefore, if your home has upgrades and updates like a new roof or new appliances, it will sell at a higher price than a house that doesn’t have such upgrades in the same neighborhood.

These are the key factors that influence home prices in Chehalis, Washington. To save time and get a better deal, sell your home is as is to KDS Homebuyers. Call us now to schedule a viewing and assessment visit!