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Posted by Joyce Torelli on 11/22/2017

If you intend to list your residence, you'll need to think about how you'll price your residence. However, what you initially paid for your home is unlikely to match its value today. And if you set an initial asking price that is too high, you risk alienating potential homebuyers.

Lucky for you, we're here to help you determine the ideal initial asking price for your residence to increase the likelihood of a fast home sale.

Now, let's take a look at three quick, easy ways to establish a competitive price for your house.

1. Look at Housing Market Data

Housing market data is easy to find and can show you how your residence stacks up against recently sold homes in your area.

Evaluate the prices of recently sold local residences that are comparable to your own. With this housing market data in hand, you can better understand pricing trends for houses in your city or town.

In addition, don't forget to check out the prices of available houses in your region. This housing market data will help you understand the current state of the real estate market.

2. Conduct a Home Appraisal

A home appraisal is valuable because it allows you to receive a property valuation from a home expert. When the appraisal is complete, you may be able to prioritize various home improvement projects as well.

During a home appraisal, a property expert will examine your home's interior and exterior. This property expert also will assess the prices of recently sold and available homes in your area, including the prices of residences in your neighborhood. Following the appraisal, you'll receive a property valuation.

If a property valuation falls below your initial expectations, there is no need to worry. Remember, you can always perform assorted home maintenance and upgrades to boost your house's value.

3. Collaborate with a Real Estate Agent

Work with a real estate agent throughout the home selling process Ė you'll be glad you did. A real estate agent will go above and beyond the call of duty to ensure that you can get the best price for your residence, regardless of the housing market's conditions.

A real estate agent first will learn about you, your home and your home selling goals. Next, this housing market professional will list your residence, promote it to large groups of homebuyers and host home showings and open house events. If a homebuyer submits an offer on your residence, your real estate agent will help you analyze the proposal and determine whether to accept, reject or counter it.

Furthermore, a real estate agent is happy to respond to any home selling questions. This housing market professional knows exactly what it takes to sell a residence, and as such, is ready to respond to your home selling queries at all times.

Get the best price for your home Ė use the aforementioned tips, and you can price your house appropriately.





Posted by Joyce Torelli on 11/15/2017

If this is your first time selling a home, you might not be familiar with the costs associated with selling. Lenders and agents help to make this process as simple as possible for both the buyer and seller. However, itís still a good idea to know what to expect to pay for selling your home, as it seems counter-intuitive that you would have to pay to sell something.

Due to the consolidation of costs by lenders, it can be easy to glaze over the list of closing expenses without fully knowing what they mean. But since many fees can be negotiated, it pays to learn the ins and outs of closing costs.

Whether youíre selling your home soon or just want to brush up on real estate processes, this article will give you a better understanding of closing costs from the perspective of a seller.

Closing costs

Buyers typically pay the majority of the closing costs associated with purchasing a home. However, there are some closing costs that buyers are at least partially responsible for.

Notary fees, expenses from escrow, and title insurance are all likely costs youíll have to dish out before closing.

Agent fees

Real estate agents typically earn a commission on selling a house. The work they put in saves you in several ways. First, you donít have to pay for all of the marketing expenses associated with selling a home. This includes photography, sign-making, and online listings.

Agents can save you in other ways, as well. Theyíll help you price your home effectively, negotiate prices, and take care of the time-intensive process of showing your house. You wonít want to have to take time off from work to try to DIY these steps.

Taxes

Since youíve likely owned your home for a while now, youíre familiar with paying property taxes. If you pay taxes yearly and are moving toward the end of your pay cycle, youíll have to pay a prorated rate for the amount of time youíve lived in the home that year.

The burden is also yours for any remaining HOA fees and state transfer taxes. Not every state charges transfer taxes so be sure to check the cost for your state.

Moving costs

Moving can be an expensive endeavor. Aside from hiring movers, renting vans, or buying boxes, there are a number of expenses we donít often think of when preparing to move.

First, it will take you a while to get your new home set up. That means you should be prepared to eat out for a while until you get settled.

On top of that, thereís also the matter of having to take days off from work, which can be costly in its own right.

Those are some of the most common expenses a buyer has to worry about during closing. Your real estate agent will be able to give you a comprehensive rundown of costs and help you find the best agreement.





Posted by Joyce Torelli on 7/19/2017

Your real estate agent plays a key role in the home selling process. As such, hiring the right real estate agent may help you accelerate the process of selling your residence and maximize the value of your house. Typically, your real estate agent serves as a trusted advisor and will provide you with tips to ensure you're able to sell your residence as quickly as possible. And if you follow the recommendations provided by your real estate agent, you may be able to reap the rewards of a quick sale. There are many wonderful reasons to listen to your real estate agent throughout the home selling process, including: 1. Industry Experience Your real estate agent understands the ins and outs of the housing market. As a result, he or she likely possesses extensive industry experience and can offer actionable tips to help you sell your residence. As a home seller, you can depend on your real estate agent and his or her years of experience to help you better understand what it takes to sell your home. From listing a home to streamlining the closing process, your real estate agent knows all about the home selling process. Therefore, this professional can offer expert guidance that will make it easier for you to progress along each step of the home selling journey. 2. Successful Track Record Your real estate agent has been able to sell homes consistently, regardless of the market conditions. Thus, this professional recognizes what it takes to promote your residence to prospective homebuyers and generate significant interest in your home. Hiring a real estate agent with a successful track record usually is ideal. With this professional at your disposal, you're sure to enjoy continuous support from a professional who is committed to helping you achieve your home selling goals. Furthermore, a real estate agent with a successful track record should be able to help you overcome myriad potential problems that could arise during the home selling process. Whether it's a tough negotiation with a homebuyer or ensuring that you're able to host an open house on a specific date, your real estate agent's reputation is a great indicator that he or she will do everything possible to ensure you're fully satisfied with the end results. 3. Honesty Let's face it Ė your home is in good condition, but it is far from perfect. Fortunately, if you listen to your real estate, you'll be able to use his or her honest recommendations to improve your residence and make it more attractive to homebuyers. Your real estate agent is fearless and won't sugar-coat bad news throughout the home selling process. In addition, this professional will tell you how an outdated furnace or messy front lawn could impact homebuyers' perspectives of your residence and work with you to make home improvements without delay. Remember, your real estate agent has one goal: to help you sell your home. And if you listen to the advice that this professional provides, you'll be better equipped to find the right homebuyer for your residence in no time at all.





Posted by Joyce Torelli on 6/28/2017

Millennials are often a topic of discussion in everything from jobs to cars to real estate. They are the generation who is changing the way we think about so many things. So, when it comes to selling your home to younger buyers, thereís certain things you may want to consider to raise the appeal of your home. Hereís what Millennials are looking for and what you can do to entice them in the home buying process: Young People Want Something Move-In Ready Millennials are young professionals who donít want to make the time for home improvement projects. These buyers are typically looking for something thatís known as ďturnkeyĒ or move-in ready. Other groups of Millennials are more creative and see a vision in the home they buy, investing in the right property over time. What Sellers Can Do: The biggest thing you as a seller can do is be sure that the home displays all of its potential in each area. Even if your home isnít move-in ready be sure that potential buyers understand what needs improving. Updated Kitchens And Baths Are A Must... Maybe Most home buyers desire a home with brand new kitchen and bath fixtures. Younger buyers have limited budgets and updates to both the kitchen and the bathroom are among the most expensive renovations to complete. On the sellerís side of things, however, these updates may not be within the budget either. It may not add enough value to the home in order to make updates worth it. Also, even with updates, the style of a kitchen or bathroom may not gel with the desired style of the buyer. What Sellers Can Do: Update the big things in the kitchen and bathroom where needed. The purple tile in the bathroom may appear ugly to you, but a buyer could find some great potential in it. Just be sure the kitchen and bath appear clean and have the basics such as storage areas in them. Big Open Kitchen The younger crowd likes bigger kitchens for entertaining and cooking elaborate meals. Millennials also like a lot of storage to keep things organized, simple and neat. They are the generation known to be ďminimalists,Ē and their preferred style holds true to this. What Sellers Can Do: Sellers should at the minimum be sure that there is adequate storage available in the kitchen. When staging the home, take any unnecessary furniture pieces out, so that they donít deter from the size the kitchen appears. Staging Your Home Overall, one of the most important things that sellers can do to appeal to young buyers is to stage the home well. While itís often up to the buyer to create their own vision, having the home staged helps to ignite the creativity in the mind of the buyer. By using some of the above tips, you can help to make your home appeal to a younger demographic who are looking for very specific things in a home. Even if you donít think your home can meet these expectations, youíll be surprised what a little creativity can do!





Posted by Joyce Torelli on 6/7/2017

Comparative market analysis is a tool that helps sellers to know about how much their home is worth. It gives an overview of what a good price for the home is in the current market based on comparable properties. Different realtors have different practices as to how they present this information. CMAs can vary from a two page list to a 50-page guide. The reports vary as to how in-depth they get as well. The important things is the information that they contain. 


What Data Does A Comparative Market Analysis Contain?


  • Active listings of homes currently for sale
  • Homes that are pending being listed
  • Homes that have sold in the past 6 months
  • Off market homes
  • Homes that have withdrawn from the market
  • Cancelled listings


Why Homes May Have Been Taken Off The Market


Homes can go on and off the market for a variety of reasons. These reasons include sellerís remorse, high pricing, requests for repairs, or the seller may have hired a completely new agent.


Looking At Comparable Sales


Comparable sales are the homes that have recently sold and are most closely related to your home. Youíll want to find the homes on the list that are most like your home. When finding comparable homes, take the following into consideration:


  • Similar square footage
  • Same rough age
  • Comparable condition
  • Similar upgrades
  • Close proximity to the same neighborhoods, schools, and amenities


Itís important when youíre using these comparative reports that you find homes on the list that are very similar to your own. You donít want to be comparing the price of an 8-room split level with an 11-room colonial. You also need to keep in mind that there are some neighborhoods that are more desirable than others. If one house is much closer to a sought after school than your home, youíll need to take that into consideration for a price point. 


Location


Location may be one of the most valuable things about your home that you canít really change. Buyers seek to live in a certain area of town and are willing to pay top dollar to do so. If you find that nearby homes are selling for much more or much less than homes even closer to yours, the location of your home may be a huge factor.  


The comparative market analysis is just one tool that your real estate agent uses to help you price your home just right and use the right marketing tools to sell it. These reports help you to be an informed seller. Comparative market analysis reports are just one more good reason that you need a real estate agent to help you sell your home.