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Home Selling Basics

 
There really is a magic formula for selling your home. Simply said, it is PRICE, CONDITION AND LOCATION.  If these three items are aligned properly, your home will sell in the shortest possible time frame. Two of these items are 100% in your control -- Price and Condition. So let's examine each quality.
 
Intelligent Pricing

Determining the best asking price can be one of the most challenging aspects of selling a home. It is also one of the most important! If your home is listed at a price that is above market value, you will miss out on prospective buyers who would otherwise be prime candidates to purchase your home.  If you list at a price that is below market, you will ultimately sell for a price that is not the optimum value for your home.  The goal is to price your home at a price that will create immediate excitement and desire from home buyers, while not leaving any of your hard earned equity on the table.

Another critical factor to keep in mind when pricing your home is timing. A property attracts the most attention, excitement and interest from real estate agents and buyers in the first 30 days. Improper pricing at the initial listing misses out on this peak interest period and may result in your home languishing on the market. This may lead to a below market value sales price, or even worse, no sale at all!  Your home has the highest chance for a successful sale when it is new on the market and reasonably priced using intelligent pricing strategies. Working together, we will determine a price and marketing plan which exposes your home to the greatest percentage of qualified buyers.

Check the link in my drop down entitled "Seven Pricing Myths to Stop Believing If You Ever Hope to Sell Your Home" written by Cathie Ericson on September 7, 2017.

Condition

Let's be honest, it's hard to be objective about your own home. You may have lived with the decor for years; it is comfortable and suits your needs just fine. But in order to stand out in the market, your home has to be in tip-top shape. Most buyers in today's market want to "bring their toothbrush and move in". They don't want to paint, redo floors or scrape popcorn ceilings. So if your home hasn't been updated in a few years (see link in my dropdown entitled "Telltale Signs Your Home Is Hopelessly Outdated"), you have two options. Invest some dollars and do some renovations or reduce the price so a buyer will be tempted to do some of the work after buying. A word of caution about this choice: Any work that needs to be done will double in price in a buyers eyes.
 
Regardless of which option you chose, your home needs to be as clean and fresh as you can possibly make it. See the link "Preparing Your Home" in my dropdown for ideas on what steps you can take to make your home sparkle and shine.

Bottom Line: Your home must be the best home the buyers sees that day and at the best price in order to sell!!!
Location


Location, location, location. This is something that has been said for years in real estate and it is still vital to the overall value of your home. But let's be realistic: there is nothing you can do about the location of your home. You can't pick it up and move it so if you are in an area that is not as desirable for whatever reason, price is the only remedy. This is where your Realtor is worth their weight in gold.