What must we do to get top dollar for our home?
When a seller includes the whole family in the marketing process - "What must we do . . . "-I know the home has a good start. Determining the value of a home and establishing a selling price must be a deliberate and open procedure between the real estate agent and the seller. On the one hand, the desire of the seller is to get absolutely top-dollar. On the other hand, it is imperative that the price be competitive or the property will not sell. All of my clients receive a competitive market analysis summarizing recent selling prices of similar homes nearby with similar size, features and location. Here are some of the factors that go into my recommendations for a listing price:
Condition and appearance of the home - In a national survey of real estate brokers, the overwhelming majority listed a "general cleanup" as he single most important short term home improvement necessary to get the highest possible price. This includes the decorating touches, wallpaper, clean carpets, closet clutter, paint touchups and all those things on the "honeydew" list being DONE (finally). The exterior is a very neglected feature, also. "Curb appeal" will get more people into your home for consideration as a purchase and yardwork should be in tip-top condition.
Needs of the seller, including how quickly the home must be sold - Is the home sale needed to finance the purchase of another home? Must a family member be at a new location quickly? Can the seller afford to wait for an above-average price from the right buyer?
Financial history of the home - this includes 1) the original cost of construction; 2) the most recent purchase price 3) the assessed value of the home 4) mortgage information and 5) value of the land without improvements.
Local market conditions - this includes 1) demand in the area, 2) current mortgage rates, 3) the average days home are on the market for sale, and 4) long term market trends.
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