With fewer buyers able to afford a house in San Diego County, a shift in the housing market is starting to occur. While home prices are still rising, the number of sales is slowing. The best of homes are selling at top market prices. At the same time we are seeing longer market times and a growing number of homes on the market. Homes are a commodity and markets go up and down. As the number of homes for sale grows, the value decreases. Here are some tips on how you can help get your house sold in the quickest time and at the best price as the number of homes for sale increases:
1. Price Your Home Right. When interviewing Realtors® , make sure they bring comparable home sales in your immediate area to review. Comparable homes are ones within plus or minus 15% estimated square footage, similar number of rooms, and improvements. While you want top dollar, pricing your home at or just below the most recent comparable sales, will keep you from lingering on the market and may even get you multiple offers. The longer a home sits on the market, the more bargaining power a buyer has and more likely the price will drop. Be leary of agents who promise to get you more than the market will bring. They start with a high price and end up lowering it in a few weeks when there is no activity.
2. Clutter is Your Downfall. If you have lived in your house for years, this is likely to be a problem. Before you deep clean or have your home professionally cleaned, get rid of the clutter. Look at each room and reduce furniture and personal belongings. Too much furniture and belongings can make a room look much smaller. If you are down sizing, have a huge garage sale, rent a pod or a storage unit.
3. In Need of Repairs. As you prepare to sell your home, make a list of all the things in your home that you know need to be fixed. If you are not good at repairing things, hire a handyman to repair all those annoying loose fixtures, cabinets and doors, replace broken tiles and replace light bulbs that aren't working. Make sure that all of your appliances are working properly. Some sellers even hire a home inspection prior to putting it on the market, so repairs can be completed prior to putting it on the market. Buyers will steer away from a home in need of a lot of work.
4. Stage Your Home. An experienced Realtor® can often give you ideas or some sellers hire professional stagers. Staging includes all All Five Senses. After decluttering rooms, stage furniture and decor to help buyers see the potential of the room size and bring attention to special features. A vase of flowers on a table, a dinner table eloquently set, new color cordinated bathroom towels, and cleared counter spaces, all make a difference. If the house is empty, a stager can help furnish a few rooms to help the buyer envision how to furnish a space.
5. Hire the Right Realtor® . The Realtor® you hire needs to be able write up a description of your home that highlights the features that you love and will sell your home. Look for Realtors that have taken the extra education and steps to gain designations that sets them apart. The Certified Residential Specialist (CRS®) is the gold standard for Realtors®. Only 4% of the nation's Realtors have it. Once you know your Realtor® has gone the extra mile in their education, then review their marketing plan for your home. Make sure they will have Professional photos of your property for the multiple listings and other marketing materials. No dogs or reflections of people in your photos. Virtual Tours and videos help bring you home to life and pushes it up in internet searches. You need an agent to reinforce the positive things about your home, that knows the area, and can negotiate to get you the best price. Make sure to review all marketing for accuracy.
6. Personalized Home Improvements. Remove those family photos and any unusual items, like voodoo dolls, skulls and crossbones. If you are planning to do home improvements before selling, make sure that they are of neutral color and flows with the rest of the house. Don't add a lot of special, costly touches. Buyers have to be able to visualize their belongings in the house.
7. When Buyers Come, Best to Leave! When buyers come to visit, a Seller's first instinct is to stay, to protect their belongings, or to try to sell the house. However, buyers need to be able to explore the home freely without the hovering eyes of an over protective seller or a nonstop hard sales pitch. Often, while you are pitching the house, inadvertently the seller tells the buyer something that is a problem to the buyer. When sellers insist on staying, they cannot help but tell you something that can be used in negotiating the price down or turns the buyer off all together. Step out. The house will sell itself and the buyer's agent will supervise their client.
Choosing an experienced Realtor® can help guide you through the process on how best to sell your home. Follow these tips, so you won't have to chase the market as your home declines in value.
