Sabrina Carr's Blog
As a first-time home seller, it can be tough to establish a competitive price for your residence. And if you set a price that is too high or too low, you risk alienating potential homebuyers or missing out on an opportunity to maximize the value of your house.
Ultimately, there's a lot to think about as you determine the price for your residence. Lucky for you, we're here to help you take the guesswork out of pricing your home, regardless of the current housing market's conditions.
Let's take a look at three tips to help first-time home sellers set a competitive price for a residence.
1. Study the Real Estate Market
How does your residence stack up against similar houses that are currently available in your city or town? Study the real estate market, and you can find out how your residence compares to the competition.
Evaluate the prices of currently available houses in your city or town. With this housing market data in hand, you can learn how your home ranks against the competition and establish a price range for houses that are similar to your own.
Also, examine the prices of recently sold houses in your area. By doing so, you can find out whether you're about to enter a seller's market or a buyer's market and map out your home selling journey accordingly.
2. Perform a Home Appraisal
A home appraisal can make a world of difference, particularly for a first-time home seller who is uncertain about how to upgrade a residence.
During a home appraisal, a property inspector will examine a home's interior and exterior. After the appraisal is finished, this inspector will provide a home seller with a report that outlines his or her findings.
Take the results of a home appraisal seriously – you'll be glad you did. The appraisal enables a home seller to learn about a home's strengths and weaknesses, and as a result, discover the best ways to transform assorted weaknesses into strengths. Then, a home seller can perform myriad home upgrades and may be better equipped than ever before to optimize the value of a house.
3. Consult with a Real Estate Agent
A real estate agent analyzes housing market patterns and trends closely and is happy to share home selling insights at any time. Thus, this housing market professional can help a home seller establish a competitive price for a home from the get-go.
Moreover, a real estate agent will promote a home to the right groups of homebuyers and work with a home seller at each stage of the property selling journey. He or she will even negotiate with homebuyers on a seller's behalf to increase the likelihood that a seller can get the best price for a residence.
When it comes to selling a home for the first time, there is no need to leave anything to chance. Use the aforementioned tips, and a first-time home seller can set a competitive price for a house and increase his or her chances of a quick home sale.
Receiving a low offer on a home can be frustrating for a seller. But, you’re likely to see at least one or two offers on your property that are lower than you would like.
Right now, the housing market is filled with young professionals burdened with student loans, rising costs of living, and stagnating wages. So, it’s no wonder that they’re trying to save money anywhere they can.
In today’s post, we’re going to talk about what to do when you get a low offer so you can set yourself up for a sale that you’re happy with.
Don’t refuse outright
The first thing to know about low offers is that they can sometimes turn into something that both you and the buyer are happy with. Many successful home sales started at a number that the seller considered too low, but--through negotiation--was brought to a higher price and better deal overall.
Many sellers are uncomfortable with the idea of negotiation. Most people seldom negotiate prices unless they are buying a car, and even then would prefer to avoid the hassle.
For others, negotiation is a normal part of everyday life. Flatout refusing an offer, especially if you aren’t receiving many other higher offers, could be a missed opportunity.
Compare your asking price with similar homes nearby
Odds are that you and your agent have already done your research and found an asking price that is comparable in your neighborhood. But home prices fluctuate. To reassure yourself that your asking price is fair, take another look at homes up for sale that are around the same age and size of your home.
Take time to craft a counteroffer
Once you’ve had time to talk the offer over with your family and real estate agent (and maybe vented a bit), it’s time to come up with a counteroffer.
There are a few options for making a counteroffer that don’t involve significantly lowering the amount you stand to gain from the home sale. First, you could offer to relieve the buyer of some of the closing costs, such as paying for the inspection. Or, if you planned on leaving new appliances in the home, you could lower your asking price but take the appliances when you move.
Weigh your options
If the buyer still won’t raise their offer close to your asking price, it’s probably a good time to move on and rethink your sale strategy.
Take some time to consider the sale as a whole. If you aren’t receiving many other offers, it might be time to consider lowering to price or rethinking your marketing plan. You might consider repainting and taking new photos, or changing up your listing to highlight some other features of the house.
Common sense is powerful, particularly for those who plan to sell a house in the near future. If you use common sense as you consider myriad home selling decisions, you may be better equipped than ever before to make the best-possible choices.
Now, let's look at three tips to help you take a common sense-oriented approach to selling your house.
1. Analyze Your Home
You believe you have a great home that will attract plenty of interest from potential buyers. Yet the housing market offers no guarantees. But if you analyze your residence, you can identify its strengths and weaknesses and proceed accordingly.
It may be beneficial to conduct an inspection before you list your residence. During an inspection, a property expert will review all areas of your house. You then will receive an inspection report that you can use to evaluate various home problems.
2. Perform Home Improvements
Home improvements are key, as they can help you transform property weaknesses into strengths. If you allocate time and resources to upgrade your house, you could boost the likelihood of enjoying a fast, profitable home selling experience.
Oftentimes, it helps to mow the lawn, trim the hedges and perform other home exterior upgrades to enhance your residence's curb appeal. Because if your home boasts amazing curb appeal, your residence may stand out to dozens of prospective buyers.
You should clean each room in your home, too. If your home's interior dazzles, buyers are sure to be impressed with it as soon as they walk through the front door. Perhaps most important, buyers will have no trouble envisioning what life may be like if they purchase your house.
3. Collaborate with a Real Estate Agent
As you explore ways to streamline the house selling journey, collaborating with a real estate agent may prove to be an excellent decision. A real estate agent can take the guesswork out of selling a house, and as such, help you achieve your desired results.
Generally, a real estate agent will make it simple for you to list your house. He or she also will promote your residence to potential buyers and set up home showings and open house events. Plus, a real estate agent will help you assess any offers to purchase your house and ensure you can get the best price for your residence.
Let's not forget about the guidance that a real estate agent provides as you navigate the home selling journey, either. If you are unsure about how to proceed during the home selling journey, a real estate agent can provide recommendations and suggestions. He or she can respond to your home selling concerns and queries as well.
For those who want to reap the benefits of a successful home selling journey, using common sense is ideal. Thanks to the aforementioned tips, you can navigate the house selling journey like a real estate market expert and accomplish your home selling goals.
After you accept an offer on your house, it may be only a few weeks before you have to pack up your belongings and move. And if you know exactly which packing supplies to pick up, you should have no trouble getting ready to relocate to a new address.
Ultimately, there are several must-have packing supplies to pick up before an upcoming move, and these include:
1. Boxes of Varying Sizes
Transporting items of different sizes can be difficult. Fortunately, there are many quick, easy ways to find moving boxes of varying sizes.
Typically, you can buy moving boxes at any home improvement or hardware store. Depending on how much you own, you may need to pick up tiny, small, medium and large moving boxes in assorted quantities.
For those who are looking to save money on moving boxes, you may be able to pick up various boxes from local convenience stores and supermarkets as well.
Contact local convenience stores or supermarkets to find out if they offer free boxes. Be sure to reach out to these shops at least a few weeks before your move; that way, you can pick up free boxes and still have plenty of time to pack up your belongings.
2. Packing Materials
Bubble wrap, polyurethane foam and other packing materials guarantee that your personal belongings will stay safe as you travel from Point A to Point B. Therefore, you should purchase a variety of packing materials to protect antiques, glassware and other fragile items during your move.
Of course, it never hurts to be creative with packing materials, either. And if you have old clothing or towels, you may be able to use these items as packing materials too.
3. Colored Markers or Stickers
If you commit significant time and resources to pack up your belongings, you surely want to know where to place these items in your new home. Luckily, colored markers and stickers make it easy to label your moving boxes.
Colored markers and stickers can help you keep track of your personal items during your move. Plus, these markers and stickers are inexpensive and easy to use, making them exceedingly valuable for those who want to streamline the process of getting unpacked at a new address.
Clearly, there are many essential packing supplies to pick up prior to moving day. If you require extra help as you prepare for an upcoming move, it never hurts to reach out to a professional moving company for support.
A professional moving company can help you pack up your belongings and take them to your new address. Also, this business employs friendly, diligent moving professionals who will help you take the guesswork out of getting ready for moving day.
Lastly, don't hesitate to reach out to a real estate agent for moving advice. This housing market professional can help you sell your house, put you in touch with professional moving companies in your area and much more.
If you want to sell your house as quickly as possible, a home fact sheet is a must-have. By crafting an informative home fact sheet, you may be able to differentiate your residence from the competition and boost your chances of a fast, profitable home sale.
Creating an effective home fact sheet can be quick and easy. Now, let's take a look at three tips to ensure you can craft a home fact sheet that hits the mark with potential buyers.
1. Provide Accurate Information
Accuracy is paramount, particularly for a home seller who is crafting a home fact sheet. If you provide homebuyers with accurate information, you can make it easy for them to determine whether to move forward with a home showing.
Remember, your goal as a home seller is to make it simple for homebuyers to learn about your house. And if you produce an accurate home fact sheet, you can empower homebuyers with the insights they need to make an informed decision about whether to pursue your home.
2. Be Specific
There is no shortage of information that you can include in a home fact sheet. From details about the age and condition of your residence to the dates of recent home upgrades, it helps to include as much information as you can in a home fact sheet.
It usually is a good idea to include details about local attractions in your home fact sheet as well. For instance, if parks or other landmarks are located close to your residence, these attractions may help your house stand out to dozens of potential buyers.
3. Include High-Resolution Images
A picture is worth a thousand words. Meanwhile, including high-resolution images of your house in your home fact sheet may enable you to make a positive first impression on prospective buyers.
Before you take photographs of your house, it may be beneficial to conduct extensive home cleaning and repairs. That way, you can increase the likelihood of capturing photographs that show off the beauty of your residence.
As you put together a home fact sheet, you may want to collaborate with a real estate agent too. By hiring a real estate agent, you can get the support that you need to enjoy a successful home selling experience.
A real estate agent understands exactly what to include in a home fact sheet. As such, this housing market professional will enable you to craft an engaging and informative home fact sheet in no time at all.
Furthermore, a real estate agent can serve as an expert guide along the home selling journey. He or she will help you list your residence and promote it to the right groups of buyers. Plus, if you receive a home offer, a real estate agent can help you determine whether to accept, reject or counter this proposal.
Take the guesswork out of preparing a home fact sheet – use the aforementioned tips, and you can craft a home fact sheet that will help you stir up plenty of interest in your residence.