Today is the first
article in a series I plan to share on Selling your Home. In the past few years many people who wanted
to sell may have hesitated because of the market. The good news is that the market is
improving. There are actually fewer
houses on the market, which is good news for sellers! Lower inventory means that there is more
demand for the houses that are on the market that are priced right, and in good
condition. Did you know that a “good”
house might sell within a few days of being listed? That was something that surprised me after I
started in real estate. We had been
looking for months, and I had no idea that some of the best houses were
actually snapped up before they ever were available to view on one of the big
websites, or in the newspaper.
So what does that
mean to you if you are thinking about selling?
If you get your house ready, make it appealing to buyers, and price it
right, you have a great chance at selling it quickly and with little
hassle. Doesn’t that sound great?
Below is an article
from Move, Inc. I found it to be very
good information and I hope you do too!
Jennifer
Steps to
House-selling Success
Million of existing
homes are sold each year, and while each transaction is different every owner
wants the same thing -- the best possible deal with the least amount of hassle
and aggravation.
Unfortunately, home
selling has become a more complex business than it used to be. New seller
disclosure statements, longer and more mysterious form agreements, and a range
of environmental concerns have all emerged in the past decade.
More importantly, the
home-selling process has changed. Buyer brokerage -- where REALTORS® represent
homebuyers -- is now common nationwide, and good buyer-brokers want the best
for their clients.
The result is that
while hundreds of thousands of existing homes may be sold each week, the
process is not as easy for sellers as it was five or 10 years ago. Surviving in
today's real estate world requires experience and training in such fields as real
estate marketing, financing, negotiation and closing -- the very expertise
available from local REALTORS®.
Are you ready?
The home-selling process typically starts several months before a property is made available for sale. It's necessary to look at a home through the eyes of a prospective buyer and determine what needs to be cleaned, painted, repaired and tossed out.
The home-selling process typically starts several months before a property is made available for sale. It's necessary to look at a home through the eyes of a prospective buyer and determine what needs to be cleaned, painted, repaired and tossed out.
Ask yourself: If you
were buying this home what would you want to see? The goal is to show a home
which looks good, maximizes space and attracts as many buyers -- and as much
demand -- as possible.
While part of the
"getting ready" phase relates to repairs, painting and other home
improvements, this is also a good time to ask why you really want to sell.
Selling a home is an
important matter and there should be a good reason to sell -- perhaps a job
change to a new community or the need for more space. Your reason for selling
can impact the negotiating process so it's important to discuss your needs and
wants in private with the REALTOR® who lists your home.
When should you
sell?
The marketplace tends to be more active in the summer because parents want to enroll children in classes at the beginning of the school year (usually August). The summer is also typically when most homes are likely to be available.
The marketplace tends to be more active in the summer because parents want to enroll children in classes at the beginning of the school year (usually August). The summer is also typically when most homes are likely to be available.
Generally speaking,
markets tend to have some balance between buyers and sellers year-round. In a
given community, for example, there may be fewer buyers in late December, but
there are also likely to be fewer homes available for purchase. So, home prices
tend to rise or fall because of general demand patterns rather than the time of
the year.
Owners are encouraged
to sell when the property is ready for sale, there is a need or desire to sell,
and the services of a local REALTOR® have been retained.
How do you improve
your home's value?
The general rule in real estate is that buyers seek the least expensive home in the best neighborhood they can afford. In terms of improvements, this means you want a home that fits in the neighborhood but is not over-improved. For example, if most homes in your neighborhood have three bedrooms, two baths and 2,500 sq. ft. of finished space, a property with five bedrooms, more baths and far more space would likely be priced much higher and likely be more difficult to sell.
The general rule in real estate is that buyers seek the least expensive home in the best neighborhood they can afford. In terms of improvements, this means you want a home that fits in the neighborhood but is not over-improved. For example, if most homes in your neighborhood have three bedrooms, two baths and 2,500 sq. ft. of finished space, a property with five bedrooms, more baths and far more space would likely be priced much higher and likely be more difficult to sell.
Improvements should be
made so that the property shows well, is consistent with the neighborhood and
does not involve capital investments, the cost of which cannot be recovered
from the sale. Furthermore, improvements should reflect community preferences.
Cosmetic improvements
- paint, wallpaper and landscaping - help a home "show" better and
often are good investments. Mechanical repairs - to ensure that all systems and
appliances are in good working condition - are required to get a top price.
Ideally, you want to
be sure that your property is competitive with other homes available in the
community. REALTORS®, who see numerous homes, can provide suggestions that are
consistent with your marketplace.
Copyright © by
Move, Inc.
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