Understanding market value. Market value is the price that a seller is willing to sell and a price a buyer is willing to pay. Forget about the price that your neighbor sold his home for two years ago, it’s all about today. Everything sells, especially in New Canaan. Just at the correct price.
Present your house in its best light. Buyers aren’t looking for fixer uppers. Fix what is broken and improve what you can. Present the rooms with fresh neutral paint. Get a pre listing building inspection which will reveal any potential defects and allow you time to make repairs? Provide a list of improvements to the prospective buyer.
Enlist the aid of a Top Producing Realtor. If you are paying the commission, you should hire the best. This is no time for new or inexperienced agents. Top Producers know what the right price is and can provide you with a professional marketing plan. Consider the agents percentage of listings sold as a strong indicator of successful performance.
Have a strong internet presence. Over 70% of savvy buyers are looking online. Placement on the internet through a website designed solely for your own home is an important advantage that I provide to every seller. In addition, inclusion in a comprehensive website such as Raveis.com is crucial. Raveis.com not only gives the buyers access to all MLS listings, photos and mapping but also provides current local housing data such as specific sales and new listings.
Consider renting. Some home sellers who aren’t attracting the prices they want may consider converting their homes to rentals. In my previous blog, I spoke about the 16.2% appreciation in rentals in 2007 in New Canaan. Some renters are delaying buying right now and some renters are new households. If you can rent out your home for a price that covers your mortgage payment, taxes, insurance and maintenance, this scenario may afford you the flexibility to move on.
Consider seller incentives. Instead of lowering the listed price of your home, you may consider buying down a buyer’s new mortgage by paying points. This allows the buyer to secure a mortgage at a much lower interest rate and will save the buyer much more money in the long term rather than a reduction in the purchase price. Joe Schwartz, our mortgage officer with Raveis Mortgage has several plans available which positions the home at a competitive advantage compared to other homes.
Stage your home. Curb appeal means a lot. Add some fresh landscaping, declutter the house and remove what you do not need on a daily basis. You are planning to move anyway, so start packing and store those boxes in an out of the way place.
Consider a home staging expert. I provide my sellers with a professional decorator to present your home in its optimum light and allow buyers a chance to envision the possibilities. Please contact me regarding the benefit of my “Resale Ready” professional home stager.
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