Pricing Your Home
Just because a comparable home sold for a specific price a couple years ago doesn’t mean you’ll be able to realize the same price for your home now. I will work with you to determine the appropriate – and competitive – listing price to maximize your potential financial gain, while also ensuring that your home sells in the timeliest manner possible.
Selling your home as quickly as possible, for the right price, is always my first priority, because of the anxiety is created by a home that remains on the market much longer than expected, and the many hidden costs that also arise from this situation. Consider these factors when deciding on your asking price.
Remember that in this current real estate market, I’ll be basing my advice to you on pricing your home with others that are being offered right now, as opposed to those that have been previously sold. Some of the sales pricing techniques, and the application of prior sales numbers and comparison data, have been modified in the last 2 years. Which is why you need an expert now more than ever.
But just because of this recent sales data, that doesn’t mean you should jump to any major financial conclusions, either! Homes at or near their asking prices are sold in every market, whether up or down. And don’t forget that YOU will have the advantage on the new home you are moving to, and that the lowest mortgage rates that we have seen in decades can certainly also have a huge impact on the resulting overall financial outcome.
How Much Appreciation Should I Expect?
The key during the current housing market is being realistic in your expectations. Since the housing market began to slow significantly in late 2007, home prices have fallen all over the country. But of course, for those buying and selling, the hope is that the reduced price you may accept on your current home will be made up when it is time to make an offer on your new home.
Understanding trends in our specific market is always critical – as not all areas have experienced the same drops or price changes. Some regions have remained fairly steady relative to prices, and are even back to experiencing modest appreciations.
Just keep in mind that if you bought your home many years ago, the gains you’ve made in the decades before the downturn may far outweigh recent drops. While ever-increasing prices are gone for now, don’t assume that you’ve lost money or that you’ll need to accept a negative financial transaction if you decide to move either.
When you contact me and we get started, and have the chance to talk about your current house, new home search, your budget and real estate-related goals, etc., I can then provide you with a realistic assessment of how much your current home has gained – or lost – that is based on its present value and potential price.
Making Your Home More Marketable
There are also tips that I can provide you that can make your home more marketable, regardless of the current real estate market. When a potential buyer sees your home for the first time, a critical first impression is made. Often times, prospective buyers have made up their minds before they even step inside the front door, so you need to maximize your curb appeal in any way possible!
Your yard needs to be well-maintained, trimmed and weeded – including any grass areas, trees, scrubs, bushes or flower beds. If you can, plant fresh flowers or a few strategically placed new, healthy plants near the entrance. A fresh exterior coat of paint or thorough cleaning/power washing of your brick and/or siding can also prove quite valuable.
The inside of your home needs to as clean and well-kept as possible, of course. You also need to be sure that you take as much of your own personal sense of style and design out of the environment. You may be quite proud of your tastes and sense of design, but everyone is different, so some prospective buyers will disagree – and be completely turned off by your own personal style.
Think about the generic backgrounds you often see in magazines or online. This helps you with the look that you want to portray. The space should seem as neutral as possible, so that prospective buyers can envision their stuff in the space, not yours.
Consider neutral colors for interior walls and carpets, avoiding very bold or unusual colors that may clash with prospective buyers’ tastes, and also avoid any dark colors on walls, along with clutter, which both make a room seem smaller. As much natural light as possible and open spaces are also keys to successful home staging.
Never leave personal items within view in your home when showing, especially in sensitive areas such as the bathroom, a common practice during normal living circumstances. All family photos, holiday souvenirs, trophies, certificates, collectibles, children’s artwork or home gym equipment should be packed away into storage while actively showing your home. Once again, buyers need to imagine themselves living there, not you.
And if personally showing guests around your property, always let them enter the room first. In smaller rooms such as bathrooms, stay at the door. Too many bodies in too small a space can cause a room to seem smaller than it actually is.