It may be thought that a buyer picks a home by how well the value of the additions or how well it’s been staged, this isn’t the case. These things do go a long way towards drawing a buyer to your home, they aren’t the main influences. The main factors that get buyers interested in a home are price, location and condition.
Selecting the right list price for your house can be difficult; you’ll have to figure out if your neighborhood is in a buyers or seller’s market. A buyer’s market is differentiated by the considerable inventories of six or more month’s worth of supply. There will be fewer buyers making offers and any offers that are being made will be low. And it’s more likely for buyers to ask for more compromises from the sellers.
In a seller’s market, there is a lower supply of six months or less. Buyer traffic becomes heavier and the sellers are more likely to get multiple offers and they’re more likely to close closer to the full listing price.
Bankers, buyers, and buyer’s agents all have access to the same market data you and your agent have. If the price of your home is too high any potential buyers who might be interested in your home won’t see it at all and if they end up viewing it, it’s unlikely they’ll have their loans approved.
While you can’t do too much about the location of your home, you can ensure your home looks its best, both inside and out. Start by cleaning up your landscaping and putting up fencing to block out any unpleasant views and sounds that might bring down the value of your property. Make sure you remember to drop the price for any issues that can’t be solved.
If your home has a great location, don’t overprice your property. People will anticipate paying more for a great location that’s near schools, shopping centers, restaurants and transportation but if you overprice your property you’ll drive any potential buyers you have away.
Putting your home on the market in its best condition it can possibly be in will help your agent place your home on the market in the best possible light. Problems pointed out by individual buyers are easy to fix, putting your home onto the market in the best possible condition will keep it fresh in the minds of any buyers who come to see it. You wouldn’t want to lose buyer interest in your home just because you didn’t repaint a wall or mow the lawn.
Remember buyers nowadays are usually dubious about buying a home, so issues like creaky steps, outdated wallpaper and dripping faucets will just give buyers a reason to pass your home over.
It’s understandable to be emotional about a home you’ve resided in for years, but remember that to the buyers, your home is something they are looking to purchase and like you they’re just looking for a good deal on a home they love.
You’ll discover what agents and buyers think of your property pretty quickly by how fast you start getting offers. If you get an offer immediately, you know you’ve priced your property correctly for the condition and location of your home, but if you don’t get an offer within the typical time range for your neighborhood you’ll want to take a closer look at the condition and pricing of your property and see if you can alter them to make your home more appealing.
If you’re ready to sell your home contact The Sandi Pressley Team today.
Have An Awesome Week!
Sandi’s Hot Home Listing
6905 Tesoro Place, Albuquerque
Price: $399,000 Beds:5 Baths: 3 Square Feet: 2,909
Great neighborhood of Sonora! 5BR/3 FULL BATH/3CG! CUL-DE-SAC! New flooring and newly painted interior! Versatile floor plan with two living areas, formal dining, one bedroom/bath on the main level, spacious kitchen has breakfast nook! Oversized master suite features a two-way fireplace, balcony, walk-closet, separate shower and garden tub.