|
|
Home Selling Tips
Improving Your Real Estate Quick fixes before selling a home always help out, but which repairs bring the biggest return? Specific answers to this often-asked question largely depend on a variety of factors such as: time of year, location of the home, market temperature, and competing inventory. There is no hard and fast rule, ask your real estate advisor for their advice. There are five major areas of remodeling that vastly increase the sale value of your home and may be relatively inexpensive compared to the increased revenue it will generate from your home sale.
Overall, buyers want to buy a home that has no deferred maintenance, newer appliances, updated plumbing, electrical and heating (including a/c), modern conveniences and is ready to occupy. Setting the Price of Your Home It's very important to price your home according to current market conditions. Because the real estate market is continually changing and market fluctuations have an effect on property values, it's imperative to select your list price based on the most recent comparable sales in your neighborhood. A so-called comparative market analysis provides the background data upon which to base your list price decision. When you prepare to sell and are interviewing agents, study each agent's comparable sales report (the data should be no more than 3 months old). The appraised value of a house is a certified appraiser's opinion of the worth of a home at a given point in time. Lenders require appraisals as part of the loan application process; fees range from $200-$500. Market value is what price the house will bring at a given point in time. A comparative market analysis is an informal estimate of market value, based on sales of comparable properties, performed by a real estate agent or broker. Either an appraisal or a comparative market analysis is the most accurate way to determine what your home is worth. Make all needed repairs unless you want the house to be regarded as a fixer-upper. Not only cosmetic updates but anything that affects the functioning of the home. Anything that is obviously broken gives potential buyers a reason to offer you a lower price, especially if it's one of several repair hot spots that worry buyers the most. Most houses need at least a little spiffing up before they are shown to potential buyers. Make sure the house is spotless inside and out, with sparkling clean windows and appliances, clutter free closets and an organized kitchen. Small changes like fresh paint on molding or cabinets or a new shower curtain contribute to the overall image of upkeep that you want to portray to potential buyers. Lastly is "curb appeal", the yard should be clean, trim should be freshly painted, walkways swept, no outside clutter. Make a great first impression. Working With a Real Estate Agent Getting a recommendation from a friend or work colleague is an excellent way to find a good agent, whether you are a buyer or a seller. Be sure to ask if they would use the agent again. You also can call the managers of reputable real estate firms and ask them for recommendations of agents who have worked in your neighborhood. A good agent typically works full-time and has several years of experience at minimum. If you are a buyer, you don't usually pay for your agent's services (in the form of a commission, or percentage of the sales price of the home). All agents in a transaction usually are paid by the seller from the sales proceeds. In many states, this means that your agent legally is acting as a sub-agent of the seller. But in some states, it's legal for an agent to represent the buyers exclusively in the transaction and still be paid a commission by the sellers. You also can hire and pay for your own agent, known as buyer's brokers, whose legal obligation is exclusively to you. If you are a seller, you should interview at least three agents, all of whom should make a sales presentation including a comparative market analysis of local home prices in your area. The best choice isn't always the agent with the highest asking price for your home. Be sure to evaluate all aspects of the agent's marketing plan and how well you think you can work with that individual. |
|
1-916-373-0200 | Contact Us
 |
