Michelle Sebio Savje's Blog
A home seller must consider the initial asking price of his or her residence closely. Because if a home seller sets an unrealistic initial asking price, he or she risks alienating potential buyers.
Now, let's take a look at three tips to help you set a realistic initial asking price for your house.
1. Review the Local Housing Market
The local housing market may favor buyers or sellers. Fortunately, if you analyze the local housing sector, you can differentiate a buyer's market from a seller's market – or vice-versa – and price your house accordingly.
In a buyer's market, there is an abundance of quality residences and a shortage of buyers. And if you're operating in a buyer's market, you may need to price your house aggressively to stir up interest in it.
Comparatively, in a seller's market, there is a shortage of quality residences and an abundance of buyers. In a seller's market, you may be able to generate lots of interest in your house, even if you set an above-average price for it.
Regardless of whether you're operating in a buyer's or seller's market, you should assess housing sector data. Find out how your residence stacks up against available houses in your city or town that are similar to your own. Then, you may be better equipped than ever before to set a competitive initial asking price for your home.
2. Conduct a Home Inspection and Appraisal
By performing a home inspection, you can receive comprehensive insights into your house's condition. Following an inspection, you can prioritize home repairs. Plus, you can use an inspection report to help you determine how to price your residence.
In addition, you can conduct a home appraisal prior to listing your residence. Thanks to an appraisal, you can receive a property valuation. And as a result, you can use this property valuation to price your house appropriately.
3. Consult with a Real Estate Agent
A real estate agent understands the ins and outs of the housing market. Thus, he or she can help you establish the right price for your house.
Ultimately, a real estate agent is unafraid to be honest with a house seller. He or she will teach a seller about the housing market and provide unbiased recommendations about how to price a residence. Best of all, a real estate agent will promote a house to prospective buyers and ensure a seller can get the best price for his or her home.
Let's not forget about the assistance that a real estate agent can provide during a negotiation, either. A real estate agent is happy to negotiate with a buyer on your behalf. As such, a real estate agent can help you optimize your house sale earnings.
For a home seller who wants to determine the right price for his or her house, it helps to prepare as much as possible. If you take advantage of the aforementioned tips, you can establish a competitive initial asking price for your home and boost the likelihood of enjoying a fast, profitable house selling experience.
Ready to sell your house? Ultimately, you should conduct a home appraisal before you add your residence to the housing market, and for good reason.
A home appraisal enables you to better understand what your home is worth. Plus, an expert home appraiser will be able to offer comprehensive insights into your house's strengths and weaknesses so you can prioritize assorted home improvement projects accordingly.
Preparing your home for an appraisal may prove to be exceedingly valuable. If you allocate time and resources to get your house ready for an appraisal, you can increase your chances of getting favorable results during the appraisal itself.
What does it take to prep your house for an appraisal? Here are three tips to ensure you can do just that.
1. Consider a Home Appraiser's Perspective.
A home appraiser has an eye for detail, one that helps this professional understand whether a house is a viable long-term investment. Meanwhile, a home seller who steps into a property appraiser's shoes may be better equipped than others to enhance his or her residence.
For example, a home seller should evaluate a house's interior and exterior prior to an appraisal. And if you notice chipped paint on a home's walls, cracked shingles on a home's exterior or other cosmetic issues, you should address these problems immediately.
Even minor cosmetic issues can negatively affect a home's value. However, a home seller who goes above and beyond the call of duty to correct these problems may be able to improve his or her house's appearance before a home appraisal.
2. Conduct Plenty of Housing Market Research.
How does your residence stack up against the competition? Learn about the local housing market, and you can find out what you'll need to do to differentiate your residence from similar properties.
An home seller should learn about the prices of recently sold residences as well as homes that are currently available. That way, you can set realistic expectations for your home appraisal.
3. Collaborate with a Real Estate Agent.
A home appraisal can be a stressful experience, especially for a first-time home seller. Lucky for you, real estate agents are available to help you streamline the home appraisal process.
Typically, a real estate agent will guide you along the home selling process. He or she can connect you with qualified home appraisers in your area and ensure you can find a home appraiser who will provide honest, unbiased feedback about your residence.
A real estate agent also will help you maximize the value of your house. This housing market professional will ensure you can set a fair price for your residence and market your home to the right groups of homebuyers. He or she will even set up home showings and open houses and negotiate with homebuyers on your behalf to further simplify the home selling process.
When it comes to getting a home appraisal, there is no need to worry. Use the aforementioned tips, and you can plan ahead for a home appraisal.
There is no right or wrong time to sell a home. However, it is important to remember that selling a home is a life-changing decision. And as such, the decision to sell a home should not be taken lightly.
If you are unsure about whether now is the right time to add your house to the real estate market, there is no need to stress. For those who understand all of their options, they can make an informed decision about selling a residence.
Meanwhile, if you ultimately decide to list your residence, there are several things you can do to boost the likelihood of enjoying a successful home selling experience. These include:
1. Analyze Your Home's Condition
The condition of your home can have far-flung effects on your home selling experience. If you allocate time and resources to analyze your house's condition, you may be able to identify problems that otherwise could slow down the home selling journey. Then, you can address these issues before they escalate.
Oftentimes, it helps to conduct a home inspection before you list your residence. This inspection will enable you to quickly identify any underlying problems with your residence and determine the best ways to correct these issues.
2. Learn About the Local Housing Market
The local housing market may impact how much a buyer is willing to pay for your residence. For example, if an abundance of high-quality residences is available, a buyer has no shortage of options at his or her disposal. In this instance, home sellers likely will need to do everything possible to stir up interest in their houses due to the sheer volume of properties available to buyers.
If you learn about the local housing market, you can determine whether a buyer's or seller's market is in place. For instance, if the number of homes exceeds the number of property buyers, the real estate market likely favors buyers. Or, if the number of homebuyers exceeds the number of top-notch homes available, the real estate market likely favors sellers.
Don't forget to review the prices of homes in your city or town that are comparable to your own, either. That way, you can use this housing market data to establish a competitive initial asking price for your residence.
3. Collaborate with a Real Estate Agent
A real estate agent is a home selling expert who can guide you along each stage of the property selling journey. As a result, a real estate agent will make it easy for you to sell your home and maximize your house sale earnings.
In addition, a real estate agent can provide helpful resources as you navigate the home selling journey. And if you ever have home selling concerns or queries, a real estate agent is prepared to respond to them.
Ready to list your residence? Take advantage of the aforementioned tips, and you could reap the benefits of a successful home selling experience.
An open house may be considered a success if it leads to an offer to purchase or a home sale. For a seller to achieve the best-possible results from an open house, it is important for this individual to plan ahead. That way, a seller can ensure that his or her residence makes a great impression on buyers.
Now, let's take a look at three tips to help you get your residence ready for an open house.
1. Clean Your House
A dirty, dusty house is unlikely to do you any favors. Fortunately, if you clean your residence from top to bottom, you could make it easy for buyers to see your house's full potential.
Sweep the floors, wipe down countertops and perform other home cleaning tasks. Taking a room-by-room approach to house cleaning also may be beneficial, as this will allow you to ensure that each room is neat and tidy.
2. Remove Clutter
For those who want to show off the full size of a residence, removing clutter is a must. Because if your home is messy and cluttered, buyers may be turned off by your residence as soon as they walk through the front door.
If you want to cut down on clutter, there are lots of options at your disposal. Oftentimes, it helps to host a yard sale or sell excess items online. You may want to consider donating any excess items to a local charity or giving them to family members or friends, too.
3. Boost Your Home's Curb Appeal
Your home only gets one chance to make a positive first impression on buyers. If you boost your house's curb appeal, you can make the most of this opportunity.
To improve your home's curb appeal, mow the lawn, trim the hedges and perform other lawn care tasks. Furthermore, if there is any cracked or damaged home siding, fix it as soon as possible.
Preparing for an open house may seem stressful, particularly for sellers who want to achieve the optimal results. But if you consult with a real estate agent, you can receive expert guidance in the weeks and days leading up to an open house.
A real estate agent is unafraid to be honest, and he or she will offer unbiased recommendations and suggestions so you can quickly improve your residence. In addition, a real estate agent can respond to any of your open house concerns and questions. He or she will even share buyers' feedback after an open house to help you find ways to speed up the home selling journey.
If you allocate time and resources to prep for an open house, you can improve your chances of enjoying a seamless house selling experience. Thanks to the aforementioned tips, you can get ready for any open house, at any time. And as a result, you can use an open house to stir up interest in your residence.
Although you've enjoyed your residence for many years, all good things must come to an end. Now, as you get ready to embark on the next stage of your life, you've decided to leave your neighbors behind and sell your house.
Ultimately, there are many reasons why you should include your neighbors in the home selling process, including:
1. Your neighbors can help you promote your residence.
It may be tough to tell your neighbors that you plan to relocate in the foreseeable future. However, doing so may help you stir up interest from many potential property buyers.
For example, a neighbor may know a family member or friend who is interested in moving into the neighborhood. And if you give this neighbor a heads-up about your intent to sell your house, you may already have at least one person who is interested in buying your house as soon as it becomes available.
Your neighbors also can share your property listing with assorted family members and friends. In addition, don't forget to encourage your neighbors to promote your house on social media.
2. Your neighbors may be able to offer home selling insights.
Your neighborhood likely is full of property owners who understand the ins and outs of buying a house. Furthermore, your neighbors may be able to provide home selling insights that you might struggle to obtain elsewhere.
It never hurts to ask a neighbor what he or she thinks of your home. By doing so, you can gain honest, unbiased feedback about your residence and may be able to identify problem areas that you previously did not consider. Then, you can allocate the time and resources to improve your home's exterior and interior and ensure your house stands out in a competitive real estate market.
3. Your neighbors can help keep your neighborhood looking great.
Your neighbors may want you to stay in the neighborhood. But if your neighbors are true friends, they will probably do whatever they can to help you achieve your desired home selling results.
Letting your neighbors know that you plan to list your house may lead them to upgrade their properties as well. This may enable all of the houses in a neighborhood to stand out to visitors and will make it simple for homebuyers to envision what life would be like if they moved into the neighborhood.
Lastly, if you need extra help as you get ready to sell your home, feel free to reach out to a real estate agent. With a housing market professional at your side, you should have no trouble navigating the home selling journey.
A real estate agent will provide expert tips throughout each stage of the home selling process. Plus, he or she will set up home showings, negotiate with property buyers on your behalf and do everything possible to simplify the home selling cycle.
Collaborate with your neighbors throughout the home selling journey, and you can boost your chances of a quick home sale.