Spring is just around the corner! Is selling your home this Spring one of your goals? If yes, then here are few elements you are going to want to take into consideration:
1. Market Conditions
This may seem like an obvious point, but surprisingly sellers usually just consider their local market temperature. However, you want to also consider the overall real estate market. Is it favorable to your objectives? What are the average prices and data of homes similar to yours, not just locally, but also regionally? Which leads to…
2. Sale Price
What’s the right pricing strategy for you? Consider these factors to help you decide:
- Pricing your home within the competition.
- Pricing your home just below the competition to generate more of a buzz and create a multiple offer situation.
- The Retail Pricing Strategy: Pricing above the other homes similar that are recently sold or on the market creating a higher risk of price reductions.
- Be sure to review the data that potential buyers will be looking and discuss what pricing strategy will be best for you.
- Is time of the essence? Are you looking to use the funds to purchase your next home?
“Location, location, and location!” we all have heard this before 😉 This isn’t just isolated to surrounding amenities (i.e. restaurants, shopping plazas, etc.), but your neighborhood. A neighborhood’s social elements play an integral role in pricing. Elements to factor in: crime rate, school district, parks & recreational facilities, highway access, and how “fresh” your neighborhood is (i.e. manicured lawns, upkeep of homes).
4. Quality of Home
From the moment a potential buyer pulls up to your home to the moment they leave every segment of the home is perused by such visitors. Well, the majority of sellers ensure their yard is manicured, you can’t forget the driveway and walkway. Multiple, dark oil stains on cement are unattractive to buyers, as well as mud\crusty dirt on a walkway. Any leaky faucets, faulty lights, torn screens, are repaired. These are just to name a few, but keep in mind first impressions count with buyers.
Time may have changed your community since you purchased your home. Did it improve? Did new homes, and\or schools get built? Did more Starbucks shops appear? Are their new homes projected to get built and whose the builder? If your community is heading toward a spike in positive growth, you don’t want to forget this factor. Potential buyers can see this as an opportunity to build a degree of expediency with building equity. If your community is changing, but not necessarily in a positive direction, you’ll want to know why (if you don’t already!), and research if there any plans for a turnaround.
These are just a few elements that factor into your sale price. If you want to find out more and are unsure about what you should sell your home for, please don’t hesitate to contact me 😊