Woodbury’s housing market is experiencing extremely low inventory, demand is soaring and sellers may think that their home will move in mere minutes and at an inflated price. These dreams of big prices and warp speed sales can end up becoming a major disappointment for sellers if you aren’t willing to follow a few simple steps prior to putting your home up for sale.
Here are 3 simple steps every seller should take before your home hits the market.
1. Staging matters–big time!
“Homes that don’t show well don’t close well.” But still, time and time again we see sellers become stubborn against the time and cost associated with staging a home. Afterall, if they love their home as it is, why shouldn’t everyone else? Remember you are preparing your home for a new buyer to fall in love with it - not you. A good Realtor will have a staging expert that can provide you with some simple tips to help your home showcase all of it’s features and remember, “less is more”.
2. The market sets the price, not the owner.
It’s understandable that many home sellers think that their home is above the price that the market dictates. Sentimental value often translates into an inflated sense of the home’s worth, but when it comes price, the winning opinion is always the market’s opinion. It’s impossible to effectively price a home without taking into account the competition. Unfortunately, too many sellers don’t.
It’s essential to compare your home to the homes that are currently on the market and the homes that have recently sold in your neighborhood. Your Realtor will give you an unbiased opinion of your homes value. Gone are the days of “hoping” to get a certain price for your home. If your home is priced right, there is a good chance you will see multiple offers in a matter of a few days and you won’t have to put up with months and months of keeping your house “showing ready”
3. Small renovations may mean big bucks later
In many cases, the cost of a home repair is less expensive than a potential buyer perceives the cost of the repair to be. If buyers over estimate the cost of fixing the problem, it may negatively impact the offer amount and end up costing you (the seller) more in the long run.
Before you list and start marketing the property, it’s important to determine what improvements will make a difference when it comes to price.
Remember, serious buyers never stop hunting for homes! Too many sellers see the winter months as the slow season. The reality is, there are plenty of upsides to listing and marketing a home when everyone else is taking a break. Less competition and more serious buyers are just a couple of reasons to market your home in the winter months.
The Woodbury housing market is extremely active and the housing inventory is lower than it has been in over 5 years! NOW is the time to sell if you are considering a move this year.