As sellers you need to understand this when you go to sell your home…be REALISTIC…it does not matter what you
Staged & Ready to Sell
paid for your home or how much you owe on the mortgage either. What matters is the here and now and what the real estate market says it is worth.
1) Condition of Your Home. How you have maintained your home? Buyers want a house very well maintained with not many repairs needed (if any at all). The more repairs needed in the home the fewer buyers there are to appeal to in this real estate market. It also will take you longer to sell your home when it is not in move in condition.
2) Price of Your Home. You think you determine price for your home don’t you. But the market truly determines the market price for the home. It does not matter what you paid for your home 4 years ago that has no bearing on the selling price of your home. The selling price is based upon comparable sold homes in the last 6 months in your town. If there are limited comparable sold properties, the bank appraiser makes the determination of what the buyer’s lender will lend on the home- a very important piece of this process. Be willing to negotiate the price is such an important part of being a realistic seller in this market. If the potential listing price is under your mortgage balance, you may need to consider a short sale.
3) Competition. How many homes are on the market that are of similar size, style and amenities makes a difference on being able to sell quickly or slowly.
4) Mortgage Rates. If mortgage rates are high it will take you longer to sell whereas the supply of buyers will be greater when the rates are low.
5) Marketing. Promoting your listing on a variety of internet sites from multiple listing service, blog posts, web site entries and many on line sites makes it visible to all. It is crucial to have a Realtor that knows the power of the word and visuals for your home (Youtube, slide shows, photos,etc.). It will make all the difference in your home sale.
It takes all of these five items to come together to place that SOLD sign in front of your home. Be willing to negotiate and be open for discussion on all the above points to make your home sell quickly.
Ask what this North Kingstown Realtor can do for you and your property sale and give me a call today to do a Market Analysis on your home at 401.529.7849. What are the Five Factors that Will Sell Your Home?
