The news is full of opinions on the down market, the bubble burst and screaming buyers market on a daily basis. Does this mean sellers are out of luck? NO. Sellers can still achieve a good sales price and buy up and save. The main question is how? How does one sell in today’s real estate market and not loose all the equity you sacrificed for over the years? Lets take a look at some easy to follow ideas that work.
First, stage the home you are selling properly. Staging you may think is a waste of time but I am here to tell you that could not be further from the truth. With a market like we have today the real issue for sellers is choice, nothing more, nothing less, its choice. The buyers have so many homes for sale to look at and choose from if your home does not stand out it will fade in the buyers memory by the time they walk off the porch. Buyers look at on average 10-15 homes in this market and let’s face it as human nature unless something seems special or different, it’s not. Staging your home or property will include, paint and proper color choices, clean, de-clutter, repair items such as screens-carpet-leaky faucet’s etc. In the end you will sell your property or help sell the neighbor’s.
Second, establish value. This can be hard for many sellers and agents but it does not have to be. Have your agent show you the past 3 months worth of sold properties in your area, not 4 towns over or the next county but your area. The comparable properties must also be similar, we can not look at 1 acre homes and compare to a postage stamp city lot, it’s not the same and the value is different. I suggest similar property based on area, bedroom, bath, square foot finished, style and condition. You must consider condition and amenities carefully, sometimes you will have similar homes as a whole but one needs a roof and siding and one has it new, these will not have the same value or one may be overwhelmed by a cat smell and one is not, these too will not have the same value which brings us back to staging.
Staging and pricing go hand in hand and are crucial to get top dollar for your home or property in today’s market. Sellers in many areas are still getting 95%-98% of asking price and sometimes more, the market is tipped to buyers now there is no doubt but that does not mean sellers are loosing out. A good agent will be able to help determine value and help stage your home from color to condition to get as much equity you can. Ask questions, do the research, look at the area homes sold and active. If we can be of help feel free to contact us anytime 612-282-7653
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