Sell Your House Hassle Free
What are the most important factors when selling a home?
Selling your home takes much more than simply putting a price tag on it than advertising it on the internet. The price a home will sell for is dictated by many factors, and also determines how quickly that home will sell. The end game for selling your home is to put forth a home that buyers will want to make an offer on. Below are some things to keep in mind when you’re trying to sell your home.
Pricing is one of the most important things to consider when selling a home. Correctly pricing a home is part science since it involves looking at similar home sales from recent past sales to assist in setting a base price. If you price a $500,000 home for one million dollars, not only will you not get any serious buyers, and may get no offers at all. Hiring a local Realtor’s expertise to help you in the selling your home is important if you want to get the best price, with the shortest time on market, specifically because he knows best of your local market.
How is the price set?
If you want to sell it’s important to price your home according to current market conditions. The real estate market is constantly changing, and market condition fluctuations can have a profound effect on property values. It’s imperative to select your list price based on the most current comparable sales in your area. A comparative market analysis provides background data to help you base your list-price. When you prepare to sell and interview agents, be sure to study each agent’s comparable report and the data should be from within the last few months. If all agents agree on a price range for your home, then go with the consensus.
Where do I get information on housing market stats?
There are many websites like Realtor, Zillow, Trulia and local searches at most realtor sites. They all offer almost everything listed for sale. If that’s not your route, then a real estate agent is a good source for finding out the status of the local housing market. So is your statewide association of Realtors, most of which are continuously compiling such statistics from local real estate boards.
What’s the difference between appraised value and market value?
The appraised value of a house is a certified appraiser’s opinion of the worth of a home at a given point in time. Lenders require appraisals as part of the loan application process; fees range from $200 to $300. Market value is what price the house will be at that point in time. A comparative market analysis is an informal estimate of market value, based on sales of comparable properties, performed by a real estate agent or broker.
What’s the difference between list price, sale price & appraised value?
The list price is a seller’s advertised price, a figure that usually is only an estimate of what the seller wants to get. The appraisal value is an appraiser’s estimate of the value of a property and based on other comparable sales, the condition of the individual property and the neighborhood.
A property’s condition is a key factor in the type of buyers it attracts. If your home is not well prepared to go on sale then it will attract primarily value buyers and investors looking for a good deal on a home that they can fix while living in it, or fix and flip it for a quick profit. Most buyers you will find will be looking for a home that is ready to move into without needing much work. The condition of your landscaping is the first impression for buyers arriving. Curb appeal is referring to homes front and how buyers will perceive the inside when seeing the outside. If your home exterior is appealing to buyers then they’re more likely to want to see the rest of the home as well.
Location, Location, Location
And, that’s that! The location of your home greatly affects the pricing and desirability for most buyers. If your home has a great view and is located by a lake, riverfront, has a great view of the downtown city, or is in a neighborhood surrounded by similar high priced homes, buyers will appreciate those features and your ability to sell the home is easier.
The Home’s Look
Take a good look at the home’s overall appeal when considering updates. Look at the age of appliances and other mechanical systems, as well as the floorplan. Based on when your home was built the trend may have been more enclosed rooms with little openness in the flow of the home. Current home building trends are more towards open floor plans with plenty of windows to allow in light and fresh air.
While your appliances may be in great condition, if they are 10 years or older their efficiency is lower compared to newer models which means increased energy costs for the buyers. New appliances give your home a more modern convenience look and today’s buyers will be more appreciative of something newer that won’t need replacing soon.
Home staging helps homes sell quicker and usually sell for more than they would have without. Applying common staging tips like decluttering, depersonalizing and using a neutral décor helps position your home better than non-staged homes on the market. Home staging is an advantage you can use to help sell your home for top dollar.
When is the best time to be in the market?
Many people prefer to move in the spring or summer, and the market has seasons where it starts to heat up as early as February as many families are eager to act so they can move during the summer vacation, and before the new school year begins. The market starts slowing down in late summer, before picking up briefly in the fall. November and December are traditionally slow months, and many astute buyers go bargain hunting during this slow period.
How does someone sell a slow mover?
Even in a down market, real estate experts say that price and condition are the two most important factors in selling a home. If you are selling in a slow market, your first step would be to lower your price. Also, go through the house and see if there are cosmetic defects that you missed and can be repaired. Secondly, you need to make sure that the home is getting the exposure it deserves through open houses, broker open houses, advertising, good signage, and listings on the local Multiple Listing Service (MLS) and on the Internet. Another option is to pull your house off the market and wait for the market to improve. Finally, if you have no equity in the house, and need to sell because of a divorce or financial considerations, you could discuss a short sale or a deed-in-lieu-of- foreclosure with your lender.
Call me to discuss the details for a hassle free sale of your property.
Thanks, Harriet Robertson