Tuesday, January 28, 2020 / by Vanessa Saunders
If you're thinking of selling this season, a little strategy session will get your house sold faster and for a better price. Here are four questions you need answers to before you list.
1. What price will drive the most offers to my house?
Have your REALTOR® do a Comparative Market Analysis (CMA) to estimate the price range your home falls into. (If you don't have a REALTOR®, hire one.) The key to this question is the goal: What price will generate the most OFFERS. The number of online views, visitors or even showings are not the goal. Only offers count. Your price is the most key element in driving offers. Price it a little low to start with. You'll see offers, and very often, competing offers.
2. What can I do to make my house stand out?
Start with curb appeal, making your exterior neat and tidy. Then, move that same ethic inside. Take hard a look at your home, as if you were a buyer. Fix all those little projects (loose knobs, nicked trim, outdated paint colors, clutter and those jobs you've learned to live with). A clean-up and clear out goes a long way in making a house presentable to buyers. Again, your REALTOR® has experience selling homes, and knows what buyers want to see.
3. What's the demand for a house like mine?
Statistics from your local Multiple Listing Service can be a good indicator of demand, and your REALTOR® has those at their fingertips. Currently, mid-range homes in the Hudson Valley are the hottest category of homes for sale. Surprisingly, luxury homes over $1 million are languishing on the market. One reason is the cap on mortgage interest tax deductions at $10,000. Another is New York's 1% "Mansion Tax" on homes sold over $1 million.
4. How long will it take to sell a house in my area?
If you had your REALTOR® do a CMA, it would contain an approximation of the amount of time homes like yours have been on the market. Your agent will be able to give you a clear picture of how well other homes like yours have sold.
Global Property Systems says:
Answers to these four questions should provide a good basis for sellers and their REALTORS® to build a market strategy, and get your house sold fast, and for top dollar.