The home owner's tax credit applies to repeat buyers now, so many people who put off selling because the market was bad now have a $6,500 incentive to move up. You want to sell quickly for a decent price so you can move on. Here's some tips for how to do it.
Make home improvements now.
Trying to fix up your home before you move? Or trying to improve it to make it work better for you? Low financing costs, reduced construction materials costs and lower contractor costs make rehabs more affordable. For households with access to credit, now may be the best time in years to update your home, either for a potential sale or simply for the sake of better living. Repairs that typically yield the highest returns are kitchen and bathroom makeovers with an emphasis on counters and cabinets. Get three different estimates. Then, factor in an additional 10 percent for hidden surprises that inevitably crop up. See home improvement strategies and checklists at Homegain.com.
Hire real estate agents and home inspectors wisely.
When you're selecting an agent to list your home, you want someone who is well-connected with other agents, lenders and other fellow industry pros. The same diligence should apply to hiring a home inspector or appraiser. It's a great idea to have a home inspection before you sell, but make sure your inspectors s experienced. If you're hiring an appraiser, make sure he or she is a veteran with at least five years of experience who's appropriately state-licensed or state-certified. Conduct reasonably brief phone interviews with at least two or three before you choose. We here at ReMax Town and Country Realty have proven credentials, references and great performance histories to ensure the reliability of anyone who we work with or recommend .
Price accordingly.
This should be on every real estate seller's priority list. In most of the U.S., there are few reasons that a house doesn't go under contract in 60 days or less. Be sure to compare the prices of homes in your area. The reason some sellers end up sitting on their property watching it gather dust while others generate faster activity, is because they neglected to price their home according to their area. That doesn't mean you should drop your price outrageously on your well-maintained home just to undercut the poorly-conditioned foreclosed home. It just means "price to the present," not to a dream market. Your agent can show you comparable sales price in your area and evaluate your home to make sure your price is in line with market values.
Don't wait out the recovery.
Yes sellers! Housing prices have been re-adjusted, and by the looks of things, it will take years for values to return to their highs of two years ago. The figures may only appear to be bad on paper. Example: Take a move-in-ready house that appraises for $250,000. Because there's competing inventory, your agent advises you to take 10 percent off the price. Now you'll be selling for $225,000. "Ouch," you might say. But consider that you only paid $175,000 for the place in 2000. So how is a $50,000 profit a loss? What's more, if you're planning to move up in the same or a similar market, you will likely realize that same 10 percent discount on your move-up purchase.
Don't take or make it personal.
Our homes have such a personal connection to us that it seems sad to watch our homes lose their personalities when we sell. It may feel heartbreaking but, it is always best to remove personal effects such as pictures, knickknacks, mementos, trophies, greeting cards and the like before showing your house. (A good agent or a professional home-stager should emphasize this.) As a rule of thumb you should count every item, in every room, of a for-sale home and eliminate or store 50 percent of them.
The buyers want to imagine themselves in the house for years to come and you need to be able for them to picture their own personality in the home. Any decor and whatnots of yours will only distract from their vision. Don't get defensive about colors, design patterns or flooring that you love. It's OK to grit your teeth, remember you will be smiling all the way to the bank. Let Shane T. White and his Team be the buffer to ensure you get the most from your sale... while keeping your sanity.
If you've been waiting for the right opportunity to get into the market, now's the time. The tax credit is an important incentive that will help stabilize our local housing market, stimulate the economy, and create new jobs in central Texas. Call the Shane T. White Team at ReMax Town and Country Realty today to get started in buying your new home. We can even sell your existing home.
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