Hi! Welcome back to #FabulousFriday! It's been all over the news- there is a shortage of listing inventory in many parts of Virginia. This might seem like an advantage to many home sellers. However, frequently buyers in this type of market become less motivated because of the small amount of options and high price points. In the last two weeks, we have noticed a small increase in overall homes going on the market. This is an optimistic sign of things to come for the remainder of 2022. So, if you have decided the time is right--here are 3 tips to consider before listing your property for sale:
1) Establish the right price--up front. This is an area where many sellers make a critical mistake--they decide what they want/need to sell their home for...and expect to list for that price. Finding the right balance between profits and an appealing price point can be hard. Therefore, it is critical to understand how buyers pick their new home. There are 3 things that buyers search for when selecting a property to make an offer on. Buyers want to select the right location, a reasonable price, and the correct style/condition for their needs. Next, you must realize that the second your home goes on the market, it goes from being a home to being a house. In other words, your home is now a product on the market, competing against other houses. So, the right question to ask is--how will your price stand in regards to your competition?
2) There is a direct relationship between time on the market and list price. The quicker a home goes under contract, the closer it is to the original list price. Many sellers fear pricing their home too low and think they will "wait for the right buyer to come along." Another common concern for sellers is that someone will come along and try to low ball them on their price. Research proves that the opposite is true. When homes are priced properly, they generate more offers. Ultimately, the seller is in control of the offer process because you can always say "no" to a price you don't like. On the opposite side of the ledger-imagine that a buyer walks through your home. They love it and they are excited. They can see themselves living there, but it's been on the market longer than the other homes in that area. There are a couple questions buyers ask themselves. First, what's wrong with this home? And, why doesn't anyone else want this house? That can result in a less favorable offer and terms.
3) Condition and curb appeal matter. Homes that look good sell quickly. The goal is to find ways to create appeal to your home without spending too much money. One of the best selling features is a super clean home. Buyers love homes that are clean and uncluttered. Take the time to wash the windows, dust the corners, wipe down the cabinets and clean the baseboards. Clear out the closets and straighten the pantry. Make any repairs that need taken care of. Landscaping is another way you can brighten up the look of your property. Mow the lawn, trim the hedges, and pull the weeds. You can use potted plants to place a splash of seasonal color near the patio or doorway. Attending to these items can help you obtain a quick sale and avoid closing delays.
While these 3 tips are surely going to help your property sell, a little extra help never hurt anyone. At Shaffer Realty and Real Estate we believe that selling your home doesn't have to be difficult. By listing with us, you wil have access to the latest real estate data in your area and help you sell your property quickly and easily. For access to a complimentary market analysis, simply click on "contact" and we will get you connected to a real estate pro-today! See you soon! Warmly, Susan