Thinking about selling your home?
There is a process you need to consider when you are getting ready to sell your home. Start researching on your own first. If you don’t know where to start, call or email me and I will give your some pointers as to the first steps. The information you uncover will do one of two things. It will either confirm your own thoughts about the market in your area or it will surprise you. Here is what I suggest you do. To get a snapshot of the market specific to your neighborhood, try using Zillow.com to start. This is good site to gather broad information regarding value of homes in your area. The next step is to hire a Realtor ® to provide a comprehensive Price Position Analysis (PPA) for your home. These two reports -Zillow and a PPA – will give you a value of your home that will be a bit different than an appraisal from a a professional Appraiser. We will be happy to provide a comprehensive PPA for you. Please click here to contact us and get your PPA started!
Getting the Best Value for Your Home
Most sellers today are nervous and unsure. They wonder: is taking a loss on our house inevitable?
The answer is no! A strategic sales plan, coupled with a smart buy in your new location will ensure that you recoup the maximum value for your home.
Your Strategic Sales Plan
Consult with Chris Weymouth to ensure your house is priced competitively and well-staged. Why? Because while there are always three factors to getting a home sold—location, price, and condition—only two are under your control: price and condition. Of the two, which is more significant? Price. Remember that price will correct bad condition, but condition will never overcome a bad price.
Act fast. You’re in a race against time—the best price you’ll get in today’s market is the one you get now. If you wait, it will be lower. And every month the price on your home decreases, your costs remain the same. For example, Keller Williams research shows that sellers who listed their home at the price the agent originally recommended, sold the home 38 days faster. This is over a month of mortgage and tax payments! For a home that cost $200,000 at time of purchase, with 20 percent down and an interest rate of 6.5 percent, selling a month sooner results in a savings of $1101.31 for the mortgage alone, not including the taxes and insurance that the homeowner would be paying during this time.
Don’t worry about where the market has been, keep your focus on where it is going. The price your neighbor down the street got six months ago is not relevant in a market where your house is competing with others from all across town. Again, a The Weymouth Group will have the kind of long-term, wide-ranging data that will help you decide how to pinpoint your price with precision.
Your Smart Buy
Move up. Whether you are moving to an area where prices are in a downturn, or dreaming of nicer, bigger, home in your own town, selling your house now can get you into the home of your dreams. Falling home prices are a great opportunity for a savvy homeowner looking to move up. Even though your house price may be lower, the smaller loss at sale can be made up by greater savings at purchase. For example, let’s take that same $200,000 home, and imagine that it has decreased in value by 5 percent, reducing the sales price to $190,000. At the same time, let’s imagine that you would like to move up and the $400,000 home you have been eyeing has also decreased by 5 percent. That’s a savings of $20,000, and it is a home that is likely to be better positioned for appreciation when the market rebounds.
Bottom line: don’t pit yourself against the market, work with the market to get the most out of your house sale
Is now a good time to buy? What trends are affecting the value of my home? What new economic policies will be shaping my real estate decisions in the coming months?
Each month, This Month in Real Estate provides expert opinion and analysis on real estate trends across the United States and Canada. Watch the videos and read reports below for the latest market news.
Why Do You Need The Weymouth Group?
Pricing and marketing:
Finding and negotiating with buyers:
Closing and your next steps:
Here is a partial list of websites we access to sell your home in addition to the 200+ local Realtor sites