Homes Priced Correctly Sell Faster
Listing your property with a real estate professional will save you time, money and frustration. As you discuss the asking price, be aware of these common pitfalls.
By following recent home sales in your area, you can avoid unrealistic expectations stemming from runaway price growth over the past few years. Each day an overpriced house sits on the market is another day the sellers miss the opportunity to attract the right buyers. Price your property close to what you’d actually accept.
On the other hand, some sellers underprice their homes in hopes of starting a bidding war or making a quick sale. When your listing price is too low, you risk turning off prospective buyers who might suspect there’s something wrong with the house. You could also be leaving money on the table when would-be buyers present a lowball offer on your underpriced property.
Glossing Over the Comps
Your agent will find the best comparable sales of homes similar to yours in features, location and size. Their comparative market analysis can help you nail the asking price. You may not agree with everything in the comps, but try to be open to the information presented.
Overvaluing Upgrades and Improvements
As frustrating as it is, you’re not likely to get back 100% of what you paid for upgrades to your property. Check the comps to see what impact various improvements have made on the selling price of other homes.
Getting too emotional when selling your house can complicate what is essentially a business transaction. Try to think of your property as a large asset you can put toward the purchase of your new home.
Checklist for Choosing a Mortgage Lender
A mortgage is a financial commitment that can affect your lifestyle for many years. Take your time selecting a mortgage banker or lender that best fits your needs and financial situation.
Whether you work with a traditional bank, credit union or specialized lender, follow these tips to find your best match.
- Don’t assume you’ll be eligible for the advertised lending rates. Get a personalized quote from each lender.
- Find someone you connect with. It helps if you agree on the best mode of communication, whether that’s email, texts or phone calls.
- Make sure the lender offers the specific services you need, such as pre-approval. Ask about prepayment penalties or online-payment fees.
- Check reviews for feedback about customer service and ease of making monthly payments.
- Contact each lender and review your questions. Follow your instincts about whether this is a company you can trust.
Texture Enhances All the Senses
Texture is trending in home decor. Your artful attention to the often-overlooked sense of touch can make a huge difference in your home’s first impression. This is especially important whether you’re hosting a party or staging your home for an open house.
Let your imagination run wild when creating a cozy, inviting home. Multi-textured surroundings can dramatically warm a room, making you and your guests want to linger longer.
Pillows and accessories are great, but don’t stop there. You can add dimension and interest in many other ways.
Enhance walls with brick or stone veneer, textured wallpaper or decorative wood trim and molding. Look for affordable solutions such as removable stick-on wood panels or peel-and-stick wallpaper.
Add a woven rug to define your floor space. Shag carpet is an option for the truly daring.
Make your staging pop with cane or rattan furniture, tufted sofas or boucle-upholstered chairs. Balance colors and textures with neutrals and smooth fabrics. Pair a fuzzy throw with a leather loveseat. Draw subtle attention to unexpected spots with a vase, basket or small lamp.
Security Systems Offer Financial Savings
A home security system can provide peace of mind for you and your family and may help you save money. Consider these three benefits, according to industry analysts.
Increase Your Property Value
Buyers want a safe place to live and will likely pay more for a secure home. Reinforced exterior doors, strong locks and outdoor motion sensors also enhance the appeal of your property.
Decrease Your Insurance Costs
Some insurance companies offer a discount of up to 20% off your monthly premium if you have a professionally monitored security system.
Prevent Costly Burglaries
The average loss due to a home break-in is close to $3,000.
Why You Need an Agent With New Construction
New construction can be a challenging situation in home buying. While you get to select your favorite colors and finishes, the path from slick brochure to move-in day can be tricky. Here are some ways an experienced real estate agent can smooth that path, according to Realtor.com®.
- Most agents are familiar with the construction process and can negotiate extras.
- Agents have long-term, solid relationships with trusted lenders. Include (but don’t limit yourself to) their recommended lenders in your comparison shopping. The same goes for the builder’s preferred lender.
- A real estate professional can oversee home inspections, following up on any remaining punch list items.
Pro Tip: Ask your agent to join you on your first site visit so the builder is aware you won’t be using their representative.
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