Are You Ready to Conduct a House Appraisal?

A home appraisal enables a seller to learn about the value of his or her house relative to the current housing market. As such, an appraisal represents an important opportunity, particularly for a seller who wants to maximize the profits from his or her home sale.

Ultimately, it helps to plan ahead for a home appraisal. If you prepare for an appraisal, you can use the appraisal results to achieve your home selling goals in no time at all.

Let’s take a look at three tips to help you get ready to perform a home appraisal.

1. Learn About Your Home’s Strengths and Weaknesses

What you initially paid for your house is unlikely to match the current value of your residence. Fortunately, if you understand your house’s strengths and weaknesses, you can prioritize home improvements and complete these upgrades. As a result, you may be able to boost your chances of receiving a favorable property valuation during a home appraisal.

Also, it may be beneficial to conduct a home inspection before you schedule an appraisal. That way, you can use the inspection results to determine which areas of your house need to be upgraded.

2. Assess the Housing Market

The present real estate sector will impact the valuation of your house. To establish realistic expectations for a home appraisal, it often helps to analyze the current housing market.

If homes are selling quickly, this likely indicates that a seller’s market is in place. This market favors sellers and may enable you to receive plenty of offers if you establish a competitive price for your home.

Comparatively, if homes linger on the real estate market for many days, weeks or months, a buyer’s market may be in place. In this market, you may need to set an aggressive price to help your residence stand out to potential buyers.

3. Consult with a Real Estate Agent

A home appraisal is an important part of the home selling journey. And if you collaborate with a real estate agent, you can work with a home selling expert who can help you maximize your property valuation during an appraisal.

With a real estate agent at your side, you can receive comprehensive support throughout the home selling journey. A real estate agent can put you in touch with the top home appraisers in your city or town. Furthermore, a real estate agent can help you determine how to price your house to ensure you can stir up significant interest in your residence.

A real estate agent also is happy to help you review any offers on your home. If you’re unsure about whether to accept, reject or counter a homebuying proposal, a real estate agent can help you weigh the pros and cons of each option.

Ready to conduct a home appraisal? Use the aforementioned tips, and you can perform a home appraisal before you add your residence to the housing market.

Reasons to Establish a Competitive Initial Asking Price for Your Home

If you intend to list your house, it helps to determine a competitive initial home asking price. That way, you can stir up plenty of interest in your residence as soon as it becomes available.

Ultimately, there are many reasons to establish a competitive price for your home, and these include:

1. You can boost the likelihood of a quick, profitable home sale.

A competitive home price is sure to garner homebuyers’ attention. Thus, it may help your house stand out to potential buyers, increasing the likelihood of a quick, profitable home sale.

Oftentimes, it helps to review the prices of comparable houses in your city or town before you list your residence. If you understand the prices of similar homes in your area, you can set a competitive price from day one. With this price in place, you can generate interest in your home and move one step closer to selling your house.

2. You can minimize the risk of alienating potential buyers.

A home’s price is one of the key factors that a buyer will consider as he or she evaluates the real estate market. If your home is overpriced based on its age and condition, you risk alienating potential buyers. And if no buyers show interest in your home, you may be forced to lower your home’s price down the line.

Setting a competitive home price requires you to take a close look at your residence and examine its pros and cons. If you can identify your house’s strengths and weaknesses, you’ll be better equipped than ever before to understand the buyer’s perspective. Then, you can establish a price in line with buyers’ expectations.

Furthermore, it may be beneficial to conduct a home inspection before you list your residence. This inspection enables you to gain comprehensive insights into any underlying home problems. As a result, you can use the inspection to identify any home issues and ensure these problems won’t prevent you from maximizing the profits from your home sale.

3. You won’t have to worry about selling yourself short.

A competitive home price likely is based on a wide range of housing market data and a house’s age and condition. Therefore, it helps minimize the risk that you’ll sell yourself short.

By establishing a competitive home price, you can feel confident that your residence is priced fairly. And if you deploy a data-driven approach to selling your house, you should have no trouble establishing a competitive home price.

Lastly, if you need help determining how to price your house, you may want to hire a real estate agent. This housing market professional can offer expert insights into the home selling journey and ensure you can list your house at a competitive price. In addition, a real estate agent will do everything possible to help you optimize the value of your home.

Ready to list your residence? Set a competitive price for your house, and you can bolster your chances of enjoying a successful home selling experience.

3 Home Selling Incentives to Motivate Homebuyers

As a home seller, it is important to note that you’re not alone in the real estate market. In fact, dozens of other nearby home sellers likely are doing everything they can to promote their residences to prospective homebuyers. This means that you may need to think outside the box to generate interest in your home.

Fortunately, every homebuyer is looking for a bargain, and home sellers who offer incentives may be able to sweeten the deal if a homebuyer is interested in purchasing a residence.

Incentives are readily available that you can offer to homebuyers, and some of the top incentives to consider include:

1. Covering the Closing Costs.

Closing costs can add up quickly for homebuyers and may be a deterrent for a buyer to purchase a particular residence. However, you can eliminate this deterrent if you agree to cover even a portion of a homebuyer’s closing costs.

Agreeing to cover a homebuyer’s closing costs up to a predetermined amount may help you seal the deal with a prospective buyer. And ultimately, this incentive could make it easier for you to reap the benefits of a quick sale.

2. Allocate a Set Amount for Home Upgrades.

After a homebuyer conducts a property inspection, he or she may ask for upgrades to a residence’s furnace, windows or other areas. These issues may be deal-breakers, unless you allocate a set amount to account for potential home upgrades.

Completing these upgrades on your own may prove to be both time-consuming and costly. On the other hand, setting aside a set amount for upgrades and agreeing to deduct this amount from the total cost of your home could serve as a distinct incentive for homebuyers.

Ultimately, you’ll want to do as much as possible to ensure that a homebuyer remains interested in your home after an inspection is completed. And by determining a particular amount to deduct from your home’s price and sticking to it following an inspection, you’ll be better equipped to satisfy a homebuyer’s home improvement demands.

3. Including the Appliances.

You may have had your heart set on bringing your washer, dryer and refrigerator to your new home. Conversely, a homebuyer might want to avoid the hassle of installing new appliances if he or she buys your current residence.

So what can you do? Including the appliances with your home may allow you to close the deal with a homebuyer.

Remember, home appliances can be replaced, and you may be able to find new appliances that suit your future residence perfectly. And if a homebuyer wants the appliances in your home included in a deal, it may be worthwhile to offer this incentive to finalize an agreement.

Selling a home can be tricky, and getting support from a real estate agent who understands the local market is essential. This real estate professional may help you brainstorm unique incentives that you can offer to homebuyers and speed up the home selling process.

Consider the value of offering incentives to homebuyers, and you could boost your chances of a fast home sale.

3 Tips to Sell Your Home Fast

The real estate market remains in constant flux. However, this does not necessarily mean you’ll need a significant amount of time to sell your residence.

Regardless of the size and quality of your home, there are many quick, easy ways to set up your residence for a quick sale, including:

1. Price your home appropriately.

As a home seller, your goal is to maximize the value of your residence. Doing so, unfortunately, can be a major challenge if you fail to set realistic expectations.

Getting your home appraised before you add it to the real estate market ensures you’ll be able to determine the true value of your home. Furthermore, consider any recent home improvements you’ve completed, as these enhancements may help increase your residence’s value.

Also, don’t forget to check out the prices of similar homes in your area. This enables you to get a better idea about the value of your residence relative to others that are available.

Pricing your home often can be difficult, but those who perform plenty of research will be better equipped to set a fair price that generates interest from many prospective homebuyers.

2. Make your home easy to show.

Those who only enable homebuyers to view their residences at certain times will limit their opportunities for a quick sale. Conversely, you should try to remain as flexible as possible after you add your home to the real estate market to maximize your home showings.

Homebuyers likely have many great residences at their disposal. And if you turn down an opportunity to show your house to an interested homebuyer, this buyer may choose to look elsewhere for his or her dream residence.

Comparatively, home sellers who maintain a clean house can make their residence easy to show at any time. In the event that a homebuyer wants to show up on short notice to view your residence, you’ll be ready to depart and ensure this interested party can check out your residence without delay.

3. Ensure your home is listed in plenty of places.

Your real estate agent should try to do everything he or she can to make your home an attractive commodity. As such, hiring a real estate professional who will showcase your residence to as many prospective homebuyers as possible is essential if you want a quick sale.

For example, your real estate agent should have no trouble adding your house to a wide range of real estate listing websites. Social networks like Facebook also make it simple for real estate professionals to showcase your home to a broad range of prospective homebuyers.

With a superior real estate agent at your disposal, you’ll be able to spread the word that your home is for sale to a large group of homebuyers. Thus, you’ll be better equipped to boost your chances of a fast sale, and potentially, a major bidding war among interested parties as well.

Selling a home is rarely simple, but with these tips, you can improve your chances of optimizing the value of your home and selling your residence quickly.

3 Reasons to Include Your Neighbors in the Home Selling Process

Although you’ve enjoyed your residence for many years, all good things must come to an end. Now, as you get ready to embark on the next stage of your life, you’ve decided to leave your neighbors behind and sell your house.

Ultimately, there are many reasons why you should include your neighbors in the home selling process, including:

1. Your neighbors can help you promote your residence.

It may be tough to tell your neighbors that you plan to relocate in the foreseeable future. However, doing so may help you stir up interest from many potential property buyers.

For example, a neighbor may know a family member or friend who is interested in moving into the neighborhood. And if you give this neighbor a heads-up about your intent to sell your house, you may already have at least one person who is interested in buying your house as soon as it becomes available.

Your neighbors also can share your property listing with assorted family members and friends. In addition, don’t forget to encourage your neighbors to promote your house on social media.

2. Your neighbors may be able to offer home selling insights.

Your neighborhood likely is full of property owners who understand the ins and outs of buying a house. Furthermore, your neighbors may be able to provide home selling insights that you might struggle to obtain elsewhere.

It never hurts to ask a neighbor what he or she thinks of your home. By doing so, you can gain honest, unbiased feedback about your residence and may be able to identify problem areas that you previously did not consider. Then, you can allocate the time and resources to improve your home’s exterior and interior and ensure your house stands out in a competitive real estate market.

3. Your neighbors can help keep your neighborhood looking great.

Your neighbors may want you to stay in the neighborhood. But if your neighbors are true friends, they will probably do whatever they can to help you achieve your desired home selling results.

Letting your neighbors know that you plan to list your house may lead them to upgrade their properties as well. This may enable all of the houses in a neighborhood to stand out to visitors and will make it simple for homebuyers to envision what life would be like if they moved into the neighborhood.

Lastly, if you need extra help as you get ready to sell your home, feel free to reach out to a real estate agent. With a housing market professional at your side, you should have no trouble navigating the home selling journey.

A real estate agent will provide expert tips throughout each stage of the home selling process. Plus, he or she will set up home showings, negotiate with property buyers on your behalf and do everything possible to simplify the home selling cycle.

Collaborate with your neighbors throughout the home selling journey, and you can boost your chances of a quick home sale.

First-Time Home Seller Tips: How to Identify a Lowball Offer

As a first-time home seller, it is important to avoid shortcuts. By doing so, this home seller may be better equipped than others to reduce the risk of accepting a “lowball” offer on his or her residence.

A lowball offer is something that every home seller would like to avoid. Yet a home seller who lacks real estate knowledge and insights may struggle to identify a lowball offer, particularly if he or she is listing a residence for the first time.

Ultimately, there is no need for a first-time home seller to settle for a lowball offer. Lucky for you, we’re here to teach you how to identify a lowball offer in any real estate market, at any time.

Now, let’s take a look at three tips to help a first-time home seller identify and address a lowball offer on his or her residence.

1. Learn About the Housing Market

The housing market often fluctuates, and a real estate sector that favors home sellers today may morph into one that favors homebuyers tomorrow. As such, a first-time home seller should allocate the necessary time and resources to monitor real estate market patterns and trends closely.

To learn about the housing market, it is essential to analyze available houses in your city or town. Furthermore, don’t forget to assess available houses that are similar to your own.

Housing market data can provide pivotal insights that a home seller can use to stir up substantial interest in his or her residence. Plus, these insights can help a home seller establish a competitive price for a home, thereby reducing the risk of receiving a lowball offer on his or her house.

2. Understand Your Home’s Value

For first-time home sellers who want to avoid lowball offers, a home appraisal is ideal. In fact, a home appraisal can make it simple for a first-time home seller to understand what his or her property is worth based on its current condition.

As part of a home appraisal, a property inspector will assess a house both inside and out. After the appraisal is completed, the inspector will provide a home seller with a report that outlines his or her findings. Then, a home seller can use the report findings to review a house’s strengths and weaknesses and complete home improvements as needed.

A home appraisal can help a home seller uncover ways to bolster a house’s interior and exterior. In addition, the appraisal can provide insights that highlight a home’s true value and help a home seller minimize the risk that he or she will accept a lowball proposal.

3. Collaborate with a Real Estate Agent

A first-time home seller may be uncertain about how to proceed with an offer. Fortunately, real estate agents can provide unparalleled insights into the housing market and help home sellers make informed decisions.

In most instances, a real estate agent is happy to discuss an offer with a home seller. This housing market professional can offer honest, unbiased home selling recommendations to ensure a home seller can differentiate between a lowball offer and a strong proposal as well.

Avoid the danger of accepting a lowball offer on a residence – use the aforementioned tips, and a first-time home seller will be better equipped than ever before to accept the best proposal for his or her house.

How Much is My Home Worth?

It is common question that real estate professional get; what is my home worth? Unfortunately, it is a question that does not have an exact answer. There are ways to determine about what your home is worth. You may find online estimates that say one thing but is that a true test of what the market will bear? So, how can you really determine what your property is worth?

1. Consider Solds-Look at other comparable homes in your area that have recently sold. This will give you a good idea what buyers are willing to pay.

2. Consider Under Agreements/Pendings-Although it is difficult to tell what a home has sold for before it closes you may be able to tell the demand in a price range. Look at the asking price of the home and how long it was on the market. If you see a trend of homes going under agreement quickly you may assume they are going closer to the asking price.

3. Consider Active Listings-Real estate is about competition just like any other commodity. It is important that your home be competitively positioned against other comparable listings. The asking price is a part of the marketing plan of the home.

4. Online Values-Be wary of online estimates. The very definition “online” takes the human factor out of determining the value.  A computer program cannot take into account the nuances of location, home style and home condition.

5. Sell It-The only way to know a home’s true market value is to sell it. At the end of the day a home is only worth what a buyer is willing to pay.

 

Walkable Neighborhoods Are Desirable Neighborhoods

Walkability in a home’s location may increase the sale-ability of the home. Walkable urban areas are showing signs of becoming the strongest housing market.
The real estate website feature “Walk Score” lets buyers know how close each home listed is to shops, restaurants, and community parks.

Market reports show that home values in walkable neighborhoods are greater than in the car dependent suburbs. On average, a home in a highly walkable neighborhood can bring in almost 60 percent more in residential rent annually than homes in neighborhoods where cars are a necessity.

People’s interest in walkable neighborhoods is becoming more popular with the trend moving towards healthier lifestyles that include walking, bike riding and ride sharing. Many new developments now include high-density residential areas located where retail and office space is all within walking distance.

 

 

Seller or Buyer Market?

If you listen to the media you will never know which way is up when it comes to the state of the real estate market. It’s not just the market that determines how a house will sell but also location, price, and condition of the home.

Like they say real estate is local. Just like you wouldn’t expect the weather to be the same in one place vs. another – the same is true about the real estate market. There are a few things you can look at to determine the type of market in your area.

1. Contact a real estate professional.

2. If you are a seller ask for a comparable market analysis on your home.

3. If you are a buyer determine the average number of days on the market in your desired area and price range.

4. Ask your agent what the absorption rate is the market your are looking to buy or sell. Absorption rate is the rate at which homes are selling.

Whether you are buying a home or selling it’s important to understand the market conditions.