David Higgins' Blog
Many home sellers face a dilemma. In most instances, it is important to set a competitive price for your property to stir up plenty of interest in it. Conversely, it is essential to explore ways to maximize the value of your residence.
For home sellers, establishing the right price for your house is key. By doing so, you can set a price for your home that meets your needs as well as homebuyers'.
What does it take to establish the right price for your residence? Here are three tips to ensure home sellers are equipped to do just that.
1. Study the Housing Market Closely
The housing market fluctuates constantly. As such, what your home was worth yesterday may not be what it is worth today.
If you study the housing market closely, you can price your residence based on the current real estate sector's conditions. Thus, you'll be better equipped than other home sellers to garner attention from homebuyers and accelerate the home selling process.
Examine the prices of comparable houses in your area, along with the prices of recently sold houses similar to your own. This will make it easy for you to establish "fair market value" for your property and price it accordingly.
Also, don't forget to conduct a home appraisal before you add your home to the real estate market. With a home appraisal, you'll be able to receive comprehensive insights into your home's condition and complete home repairs to boost its value.
2. Set Home Selling Goals
Do you want to sell your house as quickly as possible? Or are you looking to optimize the value of your home, regardless of how long it remains on the real estate market?
Set home selling goals prior to adding your house to the real estate market, and you can establish a fair price for your residence.
For example, if you want to sell your house so you can relocate quickly, you may want to price your residence competitively. On the other hand, if you can afford to be patient, you can always wait out a buyer's market to maximize the value of your residence.
3. Hire an Experienced Real Estate Agent
Your real estate agent will play a key role in your ability to sell your house and get the best price for it. And if you employ an experienced real estate agent, you should have no trouble accomplishing your home selling goals.
With an experienced real estate agent at your disposal, you can receive extensive support throughout the home selling process. This real estate professional will offer expert tips and advice to help you get your property ready for the real estate market. In addition, he or she can offer guidance about how to price your home competitively, whether to accept or reject a homebuyer's offer and more.
Collaborate with an experienced real estate agent, and ultimately, you can simplify the process of selling your home.
Like any house hunting wish list, certain items take precedence over others. A lot depends on your lifestyle, the age of your family members, and even your health. If, for example, you need to visit your doctor regularly or pick up prescriptions every other week, living a short distance from a pharmacy and medical offices will make your life a lot easier.
Since grocery shopping is something everyone does at least once a week, finding a home within ten to 15 minutes of a supermarket will save you time and gas money. Your real estate agent or listing agent should be able to give you a good rundown of nearby amenities -- but you'll be better able to evaluate those conveniences if you have a clear idea of what's important to you and your family.
- Transportation: Short commutes to work are high on most people's house-hunting "wish lists." City dwellers often need to be a short walk from bus stops, subway stations, and other modes of public transportation. Frequent travelers prefer a short drive to local airports, train stations, and major highways.
- School district: Whether your children walk to school or take a bus, proximity to schools can be a very desirable feature. That's especially true if they're running late in the morning or participating in after-school programs.
- Daycare: Working couples with babies and preschool children are often dependent on friends, relatives, or commercial daycare facilities to keep a watchful eye on their kids while they're at work. With busy schedules and hectic lifestyles, having a caregiver who's just a short distance away can make your daily routine much less stressful.
- Fitness and recreation: It's all-too-easy to ignore our need for regular exercise when the nearest public park, golf course, or tennis court is 45 minutes away. However, when your home is located just a stone's throw away from walking paths, biking trails, and fitness facilities, you'll have much more of a tendency to stay healthier and more active.
- Houses of Worship: While everyone is different when it comes to religion, proximity to the church, synagogue, or mosque of your choice can be a major convenience factor.
- Banking: Although more and more banking tasks can be done online, having access to a nearby ATM is sometimes a necessity!
As a home seller, it generally is a good idea to consider the buyer's perspective. That way, you can determine why buyers may consider your house over other available properties and map out the home selling journey accordingly.
Now, let's take a look at three tips to help you assess the buyer's perspective before you embark on the house selling journey.
1. Analyze Your Home
Think about why you decided to buy your home in the first place. By doing so, you may be able to discover what makes your house unique from other properties so you can promote your residence to the right groups of prospective buyers.
Don't hesitate to take an objective view of your home's interior and exterior too. Remember, your goal as a home seller is to generate as much interest as you can in your house. If you take a critical view of your house, you can identify problem areas and work to correct various issues as quickly as possible.
2. Review the Local Housing Market
The local housing market may favor buyers or sellers. By reviewing housing market data, you can find out whether a buyer's or seller's market is in place. Plus, if you evaluate the local real estate sector, you can understand how your residence stacks up against the competition.
Analyzing the local housing market also may help you establish a price range for your home. As you check out the prices of comparable houses in your city or town, you can use this information to set an aggressive initial asking price for your residence. And as a result, you may be able to stir up lots of interest in your home among potential buyers.
3. Consult with a Real Estate Agent
If you are unsure about how buyers may perceive your house, it may be beneficial to have a housing market expert at your side. Luckily, real estate agents are available in cities and towns nationwide, and these housing market experts are happy to help you find ways to generate interest in your residence.
A real estate agent will learn about you, your home and your house selling goals. Next, he or she will craft a personalized house selling strategy designed to help you achieve your desired results. After a real estate agent puts this strategy into action, it may be only a matter of time before you receive offers to purchase your residence.
Let's not forget about the assistance a real estate agent provides after you receive an offer to purchase, either. At this point, you'll have to decide whether to approve, reject or counter a buyer's proposal. Meanwhile, a real estate agent can provide an honest, unbiased recommendation to help you make an informed decision about a homebuying proposal.
Want to streamline the home selling journey? Use the aforementioned tips, and you can incorporate the buyer's perspective into your home selling strategy and increase the likelihood of enjoying a fast, profitable house selling experience.
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If you're on the lookout for your dream house, it helps to be persistent. In fact, there are many reasons to take a persistent approach to the real estate market, and these include:
1. You can pounce on the opportunity to acquire your ideal residence.
A persistent homebuyer should have no trouble finding lots of homes that match or exceed his or her expectations. Then, this buyer can take the necessary steps to submit an offer on his or her dream house and finalize a home purchase.
As a persistent homebuyer, it is essential to submit a competitive offer on any residence that you want to acquire. By providing a competitive offer, you can increase the likelihood of receiving an immediate "Yes" from a seller.
2. You can stay ahead of the competition.
When it comes to buying the best house at the lowest price, the early bird catches the worm. Thus, a persistent homebuyer may be better equipped than others to find and purchase his or her dream residence as soon as this house becomes available.
To stay ahead of the homebuying competition, it helps to assess the real estate sector closely. This will enable a homebuyer to identify his or her dream house in no time at all.
Furthermore, a homebuyer should create a checklist of dream home wants and must-haves. This list will allow a homebuyer to narrow his or her home search, making it easier than ever before to discover a great house.
3. You can boost the likelihood of a seamless homebuying experience.
No one should be forced to deal with a long, arduous homebuying experience. Fortunately, a persistent homebuyer can act quickly on available houses, ensuring this buyer can accelerate the homebuying journey.
For a persistent homebuyer, it often is a good idea to get extra help from a housing market professional as well. Thankfully, real estate agents are available who can provide comprehensive support to persistent homebuyers in any city or town.
A real estate agent understands the ins and outs of purchasing a house in a buyer's or seller's market and is happy to share his or her industry expertise with a homebuyer. By doing so, a real estate agent can provide valuable insights to help a homebuyer accomplish his or her goals.
In addition, a real estate agent offers plenty of support at each stage of the homebuying journey. He or she will learn about your homebuying aspirations, set up home showings and keep you up to date about new residences that become available. Plus, once you find your dream house, a real estate agent will help you submit a competitive offer right away.
If you want to pursue your dream house, it may be beneficial to take a persistent approach to the housing market. With the aforementioned tips, you can enter the real estate market as a persistent homebuyer who knows exactly what he or she wants to find. Take advantage of these homebuying tips, and you can move closer to acquiring your ideal house.