Tips For Sellers

How Much is Your Home Worth?
FOR A COMPLETE MARKET ANALYSIS:
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If you are planning on selling your home, that is a question you need answered.  As your Local Modesto Real Estate Expert, I can help you to learn the answer to that question.  I will personally do the research on your behalf and provide you with a detailed Free Market Analysis.  Please feel free to take a few moments to complete the basic information below and I will go straight to work for you.  Or, if you prefer, please feel free to give me a call directly at 209-968-1698.

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Making A Good First Impression!

If you want buyers to be interested in your home, you need to show it in its best light. A good first impression can influence a buyer both emotionally and visually, thus prompting them to make an offer. In addition, what the buyer first sees is what they think of when they consider the asking price.

A bad first impression can dissuade a potential buyer. Don’t show your property until it’s all fixed up. You do not want to give buyers the chance to use the negative first impression they have as means of negotiation.

Ask around for the opinions others have of your home. Real estate agents who see houses everyday can give solid advice on what needs to be done. Consider what architects or landscape designers have to say. What you need are objective opinions, and it’s sometimes hard to separate the personal and emotional ties you have for the home from the property itself.

Typically, there are some general fix ups that need to be done both outside and on the inside. As a seller, you should consider the following:

  • Landscaping - Has the front yard been maintained? Are areas of the house visible to the street in good condition?
  • Cleaning or Redoing the driveway - Is your driveway cluttered with toys, tools, trash etc.?
  • Painting - Does both the exterior and the interior look like they have been well taken care of?
  • Carpeting - Does the carpet have stains? Or does the carpet look old and dirty?

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Setting The Price!

The price is the first thing buyers notice about your property. If you set your price too high, then the chance of alienating buyers is higher. You want your house to be taken seriously, and the asking price reflects how serious you are about selling your home.

Several factors will contribute to your final decision. First, you should compare your house to others that are in the market. If you use an agent, he/she will provide you with a CMA (Comparative Market Analysis). The CMA will reflect the following:

  • houses in your price range and area that were sold within the last half-year
  • asking and selling prices of houses
  • current inventory of houses on the market
  • features of each house on the market

From the CMA, you will learn the difference between the asking price and selling price for all homes sold, the condition of the market, and other houses comparable to yours.

Also, try to find out what types of houses are selling and see if it applies to your area. Buyers follow trends, and these trends can help you set your price.

Always be realistic. Understand and set your price to reflect the current market situation.

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Hot and Cold Markets!

Hot Market

This is an extremely competitive market and is advantageous to the seller. Sometimes, homes will sell as soon as they are listed or even before homes are listed. Typically, during a hot market, multiple offers will be made on each home and more often than not, homes will sell for more than the asking price. It is even more crucial to be prepared and to be ready as a buyer when the market is hot. It can be easy to get caught up in the bid for a home, but if you are prepared (pre-approved, solid in price range, realistic about your needs), it is easier to remain focused on your housing needs and price range.

Normal Market

In a normal market, there is a fairly large number of homes available and an average number of buyers. This market does not necessarily favor the buyer or the seller. A seller may not have as many offers on their home, but he or she may not be desperate to sell either. Again, it is the buyer’s responsibility to be prepared. During a normal market, the chances to negotiate are higher than in a hot market. As a buyer, you can expect to make offers at lower than the asking price and negotiate a price at least somewhat less than what the sellers are asking.

Cold Market

In a cold market, houses may be listed for more than a year and the prices of houses listed may drop considerably. This market is advantageous to the buyer. As a buyer, you have the time to make an offer that works to your best interest. It is not uncommon to low-ball and to find that sellers are accommodating to meet your needs. Keep in mind that even though this market is a great time for buyers, you do not want to lose your dream home by being unrealistic. Your goal is to get your dream home at the best possible price.

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After being in the real estate business full time since 1987, I find having a partner works best. My husband John and I work as a team. I am a licensed Realtor® and broker and John is my assistant.Together we are owners of Real Estate Connection. It is our goal to always optimize your opportunities and outcomes. We have the Experience, Education and Enthusiasm to assist you for all your real estate needs.

Sue Benson, Realtor®/Broker/Owner
DRE #00962019

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