When asked, how the real estate market is doing, I answer that the real estate market is very active. According to NAR (National Association of Realtors), more than 4.25 million homes sold in 2016. That’s a lot of homes. So the question is
“How Are Sellers Doing It?”
Because each home is unique, there is not one strategy that works for every property. To effectively sell a home, owners must understand their local market.
Most markets today are cash driven and very competitive. In fact, it is estimated that 1/3rd of March, 2012 sales were cash transactions. Cash buyers are not dependent on financing which makes it’s possible to purchase a home today and occupy it tomorrow.
Selecting The Right Real Estate Agent with a strong marketing plan and that understands today’s market is most likely to succeed.
Here are six tips to get your home ready for sale.
- Curb Appeal
The first view of your home that a buyer sees is from the street. If your home looks good from the outside, the perception is that it probably means the property is ready to occupy without a lot of cost. Buyers tend to pass on homes that have poor curb appeal. Selecting The Right Real Estate Agent can help you generate good curb appeal with the least cost.
- A Clutter Free Home
Clutter free is good. Not only good, but necessary. You should either donate or reduce clutter BEFORE you put your home on the market. Reducing clutter makes interior spaces look larger. Buyers are not interested in seeing your personal possessions or family pictures, they want to picture their own possessions in the home. Remember that you’re moving so GET PACKING. Need some help on how to stage your home? Click on Staging your Home to see a short video.
- Working Condition
Buyers don’t want to worry about unknown costs or possible delays. A home (like those sold in Avalon Estates) in good mechanical working condition has an advantage in today’s market. Many distressed homes are being sold as is because they do not have appliances, air conditioning, working plumbing, and so on. They can’t compete with a home in good working condition. Homes that can pass a professional home inspection is often easier to finance and is generally more appealing to the home buyer.
- Price and Negotiation
If you want to sell your house, price your house to sell. By Selecting “The Right Real Estate Agent”, you should have received information of homes in your neighborhood that have sold in the past 90 days and are comparable to yours. Factors that can influence the asking price are Location, Price, Condition and Financing. In today’s market, sellers should be willing to negotiate. When establishing your asking price, consider that you will most likely get an offer for less than the asking price. When a home gets several showings and no offers, guess what, the house needs a price adjustment.
- Qualified Buyers
Real estate agents should bring only Pre-Qualified buyers. Pre-Qualified should be in the form of a pre-qualification letter from a bank or proof of funds (Bank Statements). Persons who try to sell their home on their own do NOT know who they are letting into their home or if their qualified to buy. Risky, Risky, Risky. To insure that you deal with qualified buyer’s, it’s best to list your home with a real estate agent.
- Distressed Properties
Distressed properties make up approximately 30% of today’s home sales. It appears that the real estate market is in it’s beginning stages of recovery, however, distressed homes (short sales and foreclosures) are still being sold at discounts generally because of the condition that they’re in. Sometimes they require substantial repair or rehabilitation. They continue to impact prices but there are many buyers who want homes that are in move-in condition. Homes in better shape will most likely command higher prices.
The housing market is in it’s beginning stages of a recovery. It is possible to successfully sell your home by making sure you cater to the right kind of buyers and by making sure that you — and your home — are ready to move as quickly as these buyers are.
The Harelik Team sells all types of properties in Palm Beach County but specialize in Over 55 – Active Adult Communities. There are still some great bargains out there in all communities. Give The Harelik Team a call, let us help you find one that’s just right for you.
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