The Top 5 Mistakes Home Sellers Make reported by www.smartmoney.com
http://www.smartmoney.com/spending/deals/top-5-mistakes-home-sellers-make-23727/?page=2
The asking price you set for your home significantly affects whether you will profit in the sale, how much you will profit and how long your home will sit on the market. Your real estate agent’s knowledge of the overall market and what’s selling – or not selling – will be invaluable in helping you determine the price. The objective is to find a price that the market will bear but won’t leave money on the table.
Here are some points to consider: Time. Time is not on your side when it comes to real estate. Although many factors influence the outcome, perhaps time is the biggest determinant in whether or not you see a profit and how much you profit. Studies show that the longer a house stays on the market, the less likely it is to sell for the original asking price. Therefore, if your goal is to make money, think about a price that will encourage buyer activity (read: fair market value).
Value vs. Cost. Pricing your home to sell in a timely fashion requires some objectivity. It’s important that you not confuse value with cost – in other words, how much you value your home versus what buyers are willing to pay for it. Don’t place too much emphasis on home improvements when calculating your price, because buyers may not share your taste. For instance, not everyone wants hardwood floors or granite countertops.
Keep it simple. Because time is of the essence, make it easy for the buyers. Remain flexible on when your agent can schedule showings. Also, avoid putting contingencies on the sale. Though a desirable move-in date makes for a smoother transition between homes, it could cause you to lose the sale altogether.
A couple of the Realtor’s in our office have several properties available for sale as well as clients who need who need to buy a home. Details of the properties and clients are below.
One of the Real Estate Agents in our Keller Williams San Diego Metro office has listed a new property. The market price is $549,000 at 1693 square feet. Call me for more details.
On another note, we have a client from our office who is looking for a small house. She is in need of a home in the following areas
Furthermore, one of the agent’s buyer clients are looking a home under $450,000 in the following areas of San Diego County:
Please contact me should you have any luck in locating a buyer or seller who fits this criteria.
Below is the second step to selling your home.
Name your price. Your next objective should be to determine the best possible selling price for your house. Setting a fair asking price from the outset will generate the most activity from other real estate agents and buyers. You will need to take into account
- the condition of your home
- what comparable homes in your neighborhood are selling for, and
- state of the overall market in your area
It’s often difficult to remain unbiased when putting a price on your home, so your real estate agent’s expertise is invaluable at this step. Your agent will know what comparable homes are selling for in your neighborhood and the average time those homes are sitting on the market. If you want a truly objective opinion about the price of your home, you could have an appraisal done. This typically costs a few hundred dollars. Remember: You’re always better off setting a fair market value price than setting your price too high.
Studies show that homes priced higher than 3 percent of their market value take longer to sell. If your home sits on the market for too long, potential buyers may think there is something wrong with the property. Often, when this happens, the seller has to drop the price below market value to compete with newer, reasonably priced listings.
To see more useful tips when selling your home, visit Darren Tunstall’s San Diego Real Estate Website with Keller Williams San Diego Metro.
