Have you heard that the real estate market is changing? That’s true, but the market is always changing! Knowing the market where you want to buy or sell is crucial and I’m here to help. Even today, it remains a seller’s market and you will most likely be very pleased with the appreciation and money you will make off the sale of your current home!
In Silicon Valley, we will most likely continue the trend of having a limited number of homes for sale. Many homes sell extremely quickly and some homes take more than time to sell. What drives the typical number of days on the market?
• First – How does the list price compare to other similar homes in the neighborhood, known as “comps”. Everyone is on Zillow, Redfin, realtor.com etc, and has an opinion of value. Pricing is still an art not captured perfectly by an algorithm. Pricing and final sales price is driven by what is most important to seller and the buyer. In general, pricing your home close to the last comparable sale is a great starting point.
• In all real estate markets -A home that is Move-in-ready: Rules. Updated, clean, well cared for homes attract committed buyers. Cluttered, messy, not-well-maintained homes attract low-ball-offers. Go for the “10”if you can. Maybe your home is already nicely updated. Now we simply need to put the cherry on top. Make minor repairs and keep receipts for tax purposes. Consult with your accountant on what items may be tax deductible in the preparation and selling of your home.
• Next – Marketing – One part of my job is to catch the buyer’s eye and provide the very best exposure for your home. The right marketing strategies have been shown to provide a higher sales price and shorter time on the market. The goal is to create the largest pool of qualified, motivated buyers ready to purchase a home. Even the best house can need “SOAK TIME”. Most importantly, there is no one way to market a home to find the best offer. Let’s discuss what is important to you.
• Finally Don’t limit your Success by limiting Access – The easier your home is to see and show, the faster it will sell. With kids and/or pets, this can be challenging. If you can make your home readily accessible in the first few weeks the higher your chances are of catching the eye of a motivated buyer. Generally, your home needs to be in SHOW READY state for several open houses. The more access you can provide at the beginning of the listing period, the better.
Now you have a starting plan for getting your house sold! Next in this video series, I discuss strategies on making the transition from seller to BUYER. Of course, If you want to talk about your unique situation, just call me! You can also schedule a meeting. Thank you!