Selling your Home?
The Cards are in your Favor!
Part Two of a Three Part Series where we offer smart strategies for buyers, sellers, and owners in today’s market.
To get your best price, though, you need to finesse your timing, list competitively and match your marketing strategy to local conditions.
Lower your sights to make more money.
Rising prices breed rising hopes: In a recent poll, brokers complained that 75% of homeowners think their agent’s recommended listing price is too low. Pricing your property above recent sales to cash in on the momentum may slow down deals, and sitting on the market too long can stigmatize a house. Catch buyers’ attention — and get multiple offers — by pricing your home in line with comparable sales, says Rick Turley, president of Coldwell Banker San Francisco: “Then let the market take it higher.”
Trading up? Move fast. Downsizing? Go slow.
It’s tempting to postpone selling to hold out for a better price. But if you want to move to a larger place, act sooner rather than later. True, higher-end homes aren’t rising as quickly, but the gap is small. So while you’ll be able to sell your home for more if you wait, the appreciation on the trade-up home will be greater.
Smooth out your home’s rough patches.
Repair that leaky roof and address other obvious structural problems, or you’ll have to subtract the cost of doing so from your price. Smaller fixes that pay off the most, according to a HomeGain poll of real estate professionals and consumers: cleaning and decluttering, brightening (adding lamps and clearing window obstructions), and solving electrical and plumbing problems.
Guard against low appraisals.
While rapidly rising prices may attract more buyers, the upswing can make it harder to close a deal. One-third of realtors polled in December reported setbacks from low appraisals, including delays in closing, lowered prices, and cancellations.
The Problem: Appraisals can come in low because they’re based on transactions as old as six months — out of date, perhaps, in today’s market.
The Solution: Have your agent personally oversee the process, accompanying the appraiser to point out improvements and supplying data about the latest comparable sales.
Help investors find what they’re looking for.
Investors amounted to one-fifth of all home buyers in January, but are a much larger share of some markets.
Signs of an investor market:
a steady stream of resales of foreclosed homes (you can find that info at zillow.com/local-info) and the conversion of many homes in your neighborhood into rentals.
Best tips to sell to investors.
If your area fits the bill, choose an agent experienced in investor sales; they should create a flier that highlights how easy it is to attract tenants, the rents that nearby homes command, and other pertinent bottom-line info.
Second of a three-part article by CU Insight 2013
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