Selling Your Home In A Competitive Market

The decision to sell your home is never a quick or easy one. It’s the decision to uproot your family, to make new friends, to get used to a new setting, to declutter your life. Sometimes it’s a relieving decision, and sometimes it’s a difficult one, but it’s always attended with a certain amount of nostalgia. However, once the decision is made, you’ll want to be able to get on with the next step of your life. To do so, you need to find a buyer quickly or else end up making two house payments.

Consult A Realtor For Pricing
The price you bought your home for is likely not the one you’ll sell it for. Home prices fluctuate, and values plummeted following the 2008 housing crash. Since then the market has rebounded, though not everything has returned to its pre-2008 levels. The best way to determine an asking price is by talking to a licensed realtor with experience in your area. Use a website like Zillow to see what nearby houses have gone for and how long they tend to be on the market.

Dottie Herman, a writer for World Property Channel, said, “Pay attention to the condition of [neighboring] properties, as renovated homes will be more expensive than those that need renovations. . . . While underpricing can be a strategy which may attract a larger pool of buyers, you want to have good information to help you decide.”

Timing Your Sale
The season you introduce your home to the market can have an impact on how quickly it sells. People don’t shop around during bad weather, so winter months tend to be a little stale for the housing market. Spring is a more popular time as people begin thinking about new beginnings, but the market tends to be inundated with newly listed properties at this time so yours may be lost in the shuffle. A balance between the winter months and the spring rush will help put your home at the top of potential buyers’ lists.

Choosing Your Renovations
You may choose to renovate your home prior to putting it on the market, but remember that the money you invest won’t necessarily translate to a higher home value. It may, however, make it more appealing to home buyers, thus enabling you to sell your home faster if time is an issue.

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