Home Selling

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Let’s face it: home selling is tough right now but may not be impossible!

Home Selling can be tough with supply and demand ratio favoring buyers. With so many properties on the market, how does one even begin to make a property stand out from the crowd?  This is where developing a strategy with your Realtor becomes SUPER important!

First and foremost, do not sell in this market unless you bought prior to 2005 or unless you absolutely must.  If you ARE in a situation where you must sell, realize that prices today are similar to 2005 prices which means that if you bought in 2005 or after, chances are you will be losing money (or not gaining any.)

Whew!  That’s the biggest hurdle to get over so if you’re still with me you’re doing great!  Part of being competitive within any real estate market has to do with an understanding of the market and how to position yourself within it.  This is where a Realtor comes in pretty handy because with the right information and with the right tools a Realtor can give you the best possible advice on pricing.  Selling your home in a buyer’s market is 90% about pricing, 5% marketing, and 5% luck.

There are two things that determine pricing:  what buyers were willing to pay before and what buyers are willing to pay now.  That’s basically what a CMA (comparative market analysis) will give you information about.  You look at comparable properties that are currently on the market as well as comparable properties that have recently sold in order to determine how you should price your own property.

Once you’ve determined the price, it’s time to get your home in selling condition.  You don’t need to spend a whole lot of money renovating your place but it should be as presentable as possible: think “showroom condition.”  The little details really do matter and when a buyer walks through your doors you should create the VERY BEST first impression possible.  So if the paint is peeling on a wall, or your tub needs to be re-caulked DEFINITELY tend to those things.  I think it also goes without saying that the home should be clean and free of smells.

There are plenty of other things to consider (I could write book and many have!) but the point is that you should discuss a strategy with your Realtor and be as meticulous as you can in executing that strategy.