Tip 1: When the real estate market is strong and robust by way that the demand out weighs the supply, the home seller can wait for top dollar. However, when we are experiencing the exact opposite....the supply exceeds the current demand, the reverse is true. In this instance, it is imperative, as the home owner, to price your home competitively to match the current market conditions. And it is equally important, before marketing your home, to understand your market and to know some of the essential components to a successful sale.
Tip 2: Low mortgage rates make buying a home prime time. Currently rates are unbelievably low (4.5% Conventional; 5% FHA)!! With rates so low, it is likely more buyers may qualify for more house - in turn making your home viable for a larger segment of the home buying population. Low rates benefit buyers and sellers alike.
Tip 3: Shine Your Apple: This is probably one of the MOST important tips behind pricing. It is imperative your home "shine"!!!!! Preparing your home to sell is a lot of work. However, when it is done properly it can reap large monetary rewards. Start by clearing out the clutter. Minimize the amount of furniture you have in each of the rooms to give the room the illusion of spaciousness. Take time to clean thoroughly (including windows, blinds and baseboards) and repaint with neutral colors if necessary. Be sure to check all the light bulbs and make sure they are working in all your light fixtures. This last suggestion is essential but also the most costly. For older homes, it is important to consider cost effective updates. Typically the kitchen and bath rooms tend to age our homes the most. But keeping these rooms up-to-date is essential in a successful sale - regardless of the market. And, typically you should be able to see a return on your investment when you sell. It is important, however, that you don't over improve! Buyers will only see the value in your improvements if it appeals to them personally.
Tip 4: Study. Learn as much as you can about YOUR local market. There are many reports out there reporting on the condition of the national real estate market. It is tremendously important to understand the market conditions in your area. Reports are available so take time to educate yourself.
Tip 5: Price your property realistically. This statement has always been true; however, it is more true now than ever before. Current conditions; and, more importantly media reports have prepared buyers to not overpay. But if you have taken time to prepare your home, you have done your research and priced your home properly you will have positioned yourself in the best way to receive a reasonable (or, at least workable) offer.
Tip 6: Use a reputable real estate agent. Not all real estate agents are Realtors®. Realtors® are bound by a Code of Ethics with their local boards. Once you have ascertained they are a Realtor®, look for a full-service agent who is familiar with your neighborhood or area. Most agents can provide you with comparative market analysis' but be sure the agent you align yourself with can provide you additional market information so you can feel comfortable they indeed have a full understanding and grasp of your local market conditions. You will also want them to provide you with a full outline of the marketing they can provide - keep in mind all Realtors® (or real estate agents) are not alike!
If you do your due diligence, you can sell your home.....even in today's market.