Okay, so after reading our last post, you decided that you want to sell. You know that your home must be priced right to sell quickly, so how do you determine that value? It’s often not as easy as just picking a number that seems right. Here are some tips and strategies to help determine the right price!
Know Your Neighborhood
Although we all take pride in our homes and would like them to be worth a lot of money, the reality is: it is only worth what someone will pay for it.
And how do we know what someone is willing to pay? Take a look at the other houses in your neighborhood or town. What are they selling for? If you neighbor Joe just sold his 3 bedroom ranch for $350,000 and you also have a 3 bedroom ranch, you can assume it will be a similar price.
You should have an idea of the current market trends, or at least hire a Realtor who does. This will help to determine a fair value for your home so that it is priced right and attractive to buyers.
Ask For a Comparative Market Analysis
Most Realtors should offer to do a Comparative Market Analysis (CMA) for your home. This is not an exact science, but it definitely helps.
Basically, they have to see what other properties, which are similar to yours, have sold in the last 6 months or so. If every Ranch in your town has sold for under $300,000, then you shouldn’t price yours for $350,000. An appraiser will not see that value because they are also going to compare it to other sales.
Realtors try to be proactive by finding a number that an appraiser will agree with, making your sale much smoother.
Here is a great article on how appraisers value homes: https://www.maxrealestateexposure.com/appraisers-look-real-estate-appraisal/
Present Your Home to Match Its Worth
You may love the bright red you painted in the dining room and all of the knick-knacks on the mantle, but buyers want a fresh start. They want to look at your home and picture themselves in it. So when you are ready to list your home for sale, de-cluttering and removing the “you-ness” of the home is important.
Buyers see more value in a home that is clean, move-in ready, and not in need of repairs. Do all of those things first in order to get the price you want. This article explains 20 “Cold, Hard Facts” about selling, which can be difficult to read, but is also very helpful (and true).
In all seriousness, there is a small window of opportunity for your house to be very attractive to buyers. If you price it to sell, then it will sell quickly.
Overpricing your home could mean that no buyers are interested, or it will stay stagnant on the market for so long that everyone will forget about it and move on.
Avoid this mistake by hiring a professional Realtor who knows their market and knows how to value your home. I can think of a great suggestion if you need one…
So, You want to buy a house.. Now What?
Buying a house for the first time, or the tenth time, can be overwhelming. Here are the top things to keep in mind when considering your purchase..
1. Be financially ready.
This step can entail a lot of things, so let’s break that down. Buying a house costs money (who knew!) and that goes beyond the price of the home. You want to make sure you have
2. Talk to a lender or mortgage officer and get preapproved.
3. Find a Good Realtor to Work With
This is NO COST to you, but will be helpful for sure. Realtors offer professional representation, help negotiating, and many other benefits to you throughout the process. Watch our other video on why using a realtor benefits you, as a buyer, here.
4. Find Your Dream House!
Now.. the home search begins! Visit houses with your agent after fully understanding your budget and what you want to spend. Tour the homes, ask questions, even take videos so you remember what you liked! If you’re buying from out of state, your agent can go do tours for you on FaceTime or take videos to send you in order to help you decide.
5. Make an Offer & Negotiate Terms
Once you find a house you love, make an offer! Your realtor can help you come up with a number based on the fair market value of the home and comparable sales. Once you come to an agreement on the price, you submit an initial earnest money deposit to secure your purchase and you sign a contract committing you to purchasing that home and set a closing date 30-60 days out, depending on the house and loan structure.
Sometimes closings can happen faster if you did steps 1-4 well and you are in a solid position to buy!
Between signing the contract and the closing, a few more things occur such as the appraisal, the inspection, and the final walkthrough. Some of these have additional costs, so that should be factored into your spending from the start.
On top of that, if you’re moving from out of state, you have to consider the moving costs, plane tickets, and potential temporary housing.
Now that you are completely overwhelmed and stressed, let me remind you that people do this literally every single day. As long as you have a plan, a solid financial start, and a good team to help along the way, buying a house can be a breeze!
If you’re ready to get started today, contact us directly for more advice or referrals and we would love to work with you in the homebuying process!
'Tis pumpkin season, once again! Fall scents and sounds fill the air, and it is a great time of year to sell your house. In fact, Autumn is the second-best season for home sales in most areas.
It is also a great time of year to incorporate the season into your staging and décor plans. Channel your snuggly side and get those fall candles ready! Grab your PSL and read these Realtor approved helpful hints:
#1- Curb Appeal is always in Season!
Curb appeal is always the number one thing that draws buyers in because that is their first impression. The weather will be cooler and prospective buyers will be willing to venture around the yard, so landscaping could easily make or break the deal. Focus on creating spaces in your yard for families to spend time in outdoors. Consider getting some mums or other fall flowers to add those warm, vibrant colors to the scenery. Lastly, make sure you keep up with the falling leaves! Clean gutters and cluttered areas outside. As pretty as the leaves look on the trees, buyers are going to want to see the yard, not just piles of leaves on the ground.
#2- Clear the clutter!
Houses full of stuff feel tight and cramped, so push your spring cleaning into the fall and start getting rid of things! Put everything in a place, donate things you won't need after your move, organize, and make the house feel as big as possible. This can be a tough step if you have a lot of little things to clear up, but you will have to do it eventually when you sell the house, so why not start now?!
#3-Touch Up Paint!
You don't have to go crazy repainting your entire home, but some touch ups here and there (especially on those walls that desperately need it) can go a long way for buyers! The house will feel newer and cleaner with some fresh, neutral paint on the walls.
#4 - Update Your Lighting!
Lighting is everything, especially as it gets darker even earlier in some states. Make sure your house has warm lighting -no fluorescent bulbs- and keep the house bright for showings. Update those old light fixtures in order to give the interior a face lift, without breaking the bank. Use natural light as much as you can with accent lights turned on. The candles will add to the lighting ambiance, as well. Make your home as inviting as possible so buyers feel welcome and cozy inside. Small things can have a big impact!
#5 - Freshen Up!
The air is crisp outside, so make your house warm and cozy inside. Thoroughly clean it so it sparkles! Create a fall ambiance that makes people want to settle in and never leave (so they have to buy it!). Choose vibrant fall colors for vases and flowers. Don't add clutter, but a few fall accents can really pop. Add a furry throw to your couch or armchair to make the living spaces more inviting. Accent the fireplace by decorating your mantle or lighting a fire for showings. Don't be afraid to appeal to their sense of smell with nostalgic fall scents like pumpkin, apple cider, and cinnamon. (Pumpkin Spice Latte is a scent, right?!)
Use these tips to make your home sell faster during these fall months! For more ideas, contact us today! We are always happy to help.