Marjorie Youngren Team's Blog
Selling a house the second time around may prove to be much easier than your initial home selling experience. In fact, a veteran home seller can learn a lot from his or her past home selling experience, including:
1. How to Establish a Competitive Initial Home Asking Price
Setting a competitive initial home asking price is paramount, regardless of a home seller's experience. If a seller establishes a competitive initial asking price from the get-go, he or she can increase the likelihood of stirring up plenty of interest in a house. Conversely, a seller who sets an initial asking price that is too high or too low may struggle to achieve the optimal home selling results.
Think about how you priced the home that you most recently sold. This experience may help you determine how you'll price your current house, as well as enable you to avoid potential pricing mistakes along the way.
Furthermore, it usually helps to look at the prices of comparable houses in your city or town. If you assess this housing market data, you can see how your house stacks up against the competition and narrow the price range for your residence.
2. How to Promote a House to the Right Groups of Buyers
If you previously struggled to showcase your house to buyers, you can learn from your past experience and avoid making the same mistakes once again.
Ultimately, a home seller should allocate time and resources to enhance the curb appeal of his or her home. If a house features a stunning exterior, it may generate lots of interest from buyers.
It often helps to maintain a clean home interior as well. If you keep your home neat, tidy and clutter-free, buyers should have no trouble envisioning what life might be like if they purchase your house.
3. How to Hire the Right Real Estate Agent
Conduct an in-depth search for the right real estate agent – you'll be glad you did. If you meet with a variety of real estate agents, you can find a housing market professional who can help you achieve your desired home selling results.
Don't forget to request client referrals from a real estate agent. Because if you can learn about past clients' experiences with a real estate agent, you can make an informed choice about whether to hire this real estate agent to guide you along the home selling journey.
Ready to add another house to the real estate market? Use your home selling experience to your advantage, and you can boost your chances of enjoying a profitable home selling journey.
How a home seller approaches the real estate market may dictate his or her success. For example, if a seller allocates time and resources to learn about the property selling journey, he or she may be able to plan ahead and sell a house in a single day. On the other hand, a seller who fails to showcase his or her residence to the right groups of potential buyers may struggle to achieve the optimal results.
As a home seller, it is essential to do whatever it takes to streamline the property selling journey. Now, let's take a look at three tips to help you speed up the home selling journey so you can accomplish your desired property selling goals faster than ever before.
1. Improve Your House's Curb Appeal
Curb appeal is a key tenet of the home selling journey. If your home has amazing curb appeal, it likely will generate lots of interest from prospective buyers. As a result, your house may stand out from similar properties in your city or town, and you could accelerate the property selling journey.
To enhance your home's curb appeal, you should repair any damaged siding, mow the lawn and conduct assorted home exterior upgrades. If you need help with home exterior improvements, you can always hire professional contractors as well.
2. Eliminate Clutter
Let's face it – clutter is a problem that can be tough for home sellers to eliminate. Yet a seller who spends time removing antiques, paintings and other clutter can make it easy for buyers to envision what life may be like if they purchase a residence. As such, sellers should devote time to eliminate clutter so they can show off the true size and beauty of their houses.
Sometimes, it helps to rent a storage unit prior to listing a residence. A storage unit allows a home seller to safely store various personal belongings until his or her house sells. Then, this individual can move his or her personal belongings from a storage unit to a new residence.
3. Hire a Real Estate Agent
A real estate agent is willing to do whatever it takes to help you seamlessly navigate the house selling journey. He or she will promote your residence to prospective buyers, offer tips and guidance during the home selling journey and much more. By doing so, a real estate agent will help you get the best-possible results during the home selling journey.
Let's not forget about the support that a real estate agent provides as you determine whether to accept or reject an offer to purchase your home, either. At this point, a real estate agent will provide an honest, unbiased recommendation about how to proceed with a homebuying proposal. He or she also is happy to negotiate with a buyer's agent on your behalf to help you maximize the value of your home sale.
Want to streamline the home selling process? Use the aforementioned tips, and you can boost your chances of enjoying a fast, profitable home selling experience.
A seller's market provides many opportunities for those who plan to list a residence in the near future. If you know how to capitalize on a seller's market, you may be able to quickly and effortlessly sell your house and maximize your property sale earnings.
Now, let's take a look at three tips to help you get the most out of a seller's market.
1. Analyze Your Home's Strengths and Weaknesses
It may be beneficial to conduct an inspection prior to adding your house to a seller's market. With an inspection report in hand, you can assess your residence's strengths and weaknesses. Then, you can perform home repairs and upgrades and boost the likelihood of getting the best price for your residence.
In addition, you may want to complete a home appraisal. If you receive an appraisal report, you can analyze a property valuation and use this information to establish an aggressive initial asking price for your house.
2. Craft an Engaging Home Listing
A home listing typically plays a pivotal role in the house selling journey. If you devote time and resources to create an engaging home listing, you should have no trouble stirring up lots of interest in your home in a seller's market.
As you craft a home listing, it may be a good idea to evaluate the buyer's perspective. If you understand what separates your home from comparable residences in your city or town, you may be able to find innovative ways to differentiate your house listing from all others.
It often helps to include high-resolution images of your home in your listing too. You also should incorporate accurate details about your home into your listing to help buyers determine if your residence matches or exceeds their expectations.
3. Work with a Real Estate Agent
Selling a home sometimes is tricky, regardless of the current housing market's conditions. Lucky for you, real estate agents are available who can help you achieve the optimal results in a seller's market.
A real estate agent knows what it takes to sell a residence in any location, at any time. First, he or she will create a personalized home selling strategy designed to help you accomplish your desired goals. A real estate agent next will put this plan into action and promote your residence to potential buyers. If you receive an offer to purchase your house, a real estate agent will help you determine whether to accept, reject or counter this proposal.
Furthermore, a real estate agent will help you finalize a home sale. He or she will offer tips and recommendations to help you prepare for a home closing and respond to any of your concerns or questions. Plus, a real estate agent will keep in touch with you as your home closing date approaches to help you alleviate stress.
There are lots of things you can do to capitalize on a seller's market. Thanks to the aforementioned tips, you can take advantage of a seller's market and seamlessly navigate the home selling journey.
Looking to add your home to the real estate market sooner rather than later? Ultimately, you'll want to look beyond the potential price of your residence as you get your house ready for the real estate market.
For home sellers, price is one of several factors to consider before they list their houses. In fact, some of the top home selling factors to evaluate beyond price include:
1. A Home's Location
A home's location may dictate how quickly you're able to sell your residence. And if you understand the benefits associated with your house's location, you should have no trouble promoting your residence to the right groups of homebuyers consistently.
For example, a home that is located near a big city may prove to be an ideal choice for those who work in the city. On the other hand, a house that is located near top schools could prove to be an ideal option for families.
2. A Home's Condition
Although you've tried to maintain your house's interior and exterior over the years, you may still be uncertain about how your residence will stack up against other houses in a competitive real estate market.
Fortunately, a home appraisal can help you take an in-depth look at your house's condition and map out your home selling journey.
During a home appraisal, a property inspector will examine your residence. The appraisal may take several hours to complete, as a property inspector will investigate your house's interior and exterior.
When a home appraisal is finished, a property inspector will provide you with a detailed report that describes his or her findings. Then, you can use the home insights contained within this report to prioritize myriad home improvements.
With a home appraisal, you can gain deep insights into your house's condition. That way, you can better understand your house's strengths and weaknesses prior to adding your home to the housing market.
3. The Current State of the Housing Market
The current state of the housing market may impact your ability to sell your house, and for good reason.
For instance, if you're operating in a seller's market, there may be an abundance of homebuyers and a shortage of top-notch houses. This means there will be high demand for the best residences, and you may attract plenty of interest in your house as soon as it becomes available.
Let's not forget about a buyer's market, either. In a buyer's market, there are many home sellers and few homebuyers. Therefore, a home seller may need to allocate significant time and resources to stir up interest in his or her property.
For those who are unsure about how to navigate a seller's or buyer's market, hiring a real estate agent usually is an excellent idea. A real estate agent can teach you about the current state of the housing market so that you can get the best results possible during the home selling journey.
Look beyond price before you list your residence, and by doing so, you can boost your chances of a fast home sale.
If you’re a homeowner considering selling your home as an investment property, timing is important. From a financial perspective, just as you probably bought strategically, you want to sell strategically too. The trick is knowing when the right time arrives. Here are four common metrics people use to determine when it's time to sell their property.
Amount of Equity in the House
A primary factor to look at is how much equity is in the home. Ideally, to sell a home as an investment, the seller can make a tidy sum. If mortgage payments are still owed, this may negate any potential profit made, but not necessarily. If you're looking to broaden your investment portfolio, be certain you can sell your house for enough money to pay off your debt with a sufficient amount left over to re-invest. If you don’t have enough equity to do this, you’re better holding off.
Market Conditions Are Good
Many owners who bought low and can sell high find this to be a strong motivator to put their property on the market. Since market conditions eventually shift to a buyer’s market, it’s a smart strategy to sell when the housing market favors the seller. Owners who have held their property for a long time or purchased as the housing bubble burst between 2007-2012, are likely going to make a better profit than investors who purchased when prices were at their peak.
Tax Code Advantages
Buyers are often motivated to sell if there are tax code advantages. For instance, the IRS currently offers a tax-deferred advantage to investors looking to sell one property to buy another. Under tax IRC Section 1031, sellers are required to find another property to purchase within 45 days and then buy it within 135 (180 days total).
By selling and making a similar real estate investment, investors can defer paying their federal and state capital gain taxes. It’s a good strategy to use if you want to leverage real estate and broaden your portfolio.
Taxes Are Going Up
If local taxes are going up, often buyers find this to be an incentive to sell. For instance, if a town severely limits commercial activity, the tax burden falls to homeowners. Over time, the tax bill may become too exorbitant. If you own enough equity in your property and the housing market is in your favor, high taxes might be your tipping point.