What does it take to sell a Home in this Market?

What does it take to sell a home in this market?

We have been in a buyer’s market for some time. Sellers have a lot to choose from.   So why do some homes sell quickly while others have been on the market for many months and, in some cases over a year? There are two reasons for this – price and condition.

Many people seem to think that their homes are worth what they were at the peak of the market boom. They have a very inflated idea of their home’s value and refuse to listen to their real estate agents suggested listing price despite being shown a comparative market analysis of recently    sold homes in their area.  You must remember that a home as with any other product or service must be competitively priced for the existing market. If you want to sell your home and are not convinced that your listing agent is pricing your home for the market, get an independent appraisal from a professional appraiser. This will cost you approximately $300-400 dollars. It is    likely that the real estate agents suggested listing price will be pretty close to the independent appraiser’s opinion of value.  If you really want to sell, do not price your house above this.

The second factor is condition. If you wish to get the best possible price for the current market, you must make your home show well.    Sometimes this is difficult as you do not see your home the way a prospective buyer would. This is where you should rely on the advice of a good real estate    agent. Here is a brief to-do list to give you a start on this. The outside of the home and yard is what people see first so make sure the house is clean (power wash if necessary), lawn is cut, shrubs are clipped and all clutter is removed.  On the inside, paint any rooms that have a tired and worn look, clean carpets, if hardwood floors are badly worn get them refinished and unclutter the rooms.  Remember, all the furniture and accessories that you have accumulated over the years    may be comfortable for you but it will be overwhelming for the buyer and will also make your rooms look smaller. Pack away everything but the essentials and put any furniture that is not really necessary in the basement or in storage.

So, what’s the take away message here? I will quote a real estate agent I know, “It’s a price war and a beauty contest.” Price it right and clean it up and your home will sell and sell quickly.

We want to help you with your upcoming mortgage when the time comes.  Call us today for a free consultation on how we can help.

Thank You,

 

walsh

 

 

 

 

Patrick Walsh
Mortgage Loan Originator/NMLS 99004
860-213-1398
Patrick@northeast-mortgage.com
210 S. Main St Middletown, CT 06457

Company NMLS#117273 

https://www.linkedin.com/company/north-east-financial

https://www.facebook.com/pages/Northeast-Financial-Mortgage/143761005796033