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4 Terrible Mistakes Made by First-time Home Sellers

There are a lot of different factors that go into selling a home for the first time that can make it a stressful process, but there are a few things home sellers should avoid for a successful sale. If you’re going to be putting your home on the market in the near future and are hoping for quick success, here are some common mistakes you’ll want to be sure to bypass.

Pricing Your Home Too High

It’s entirely likely that there’s an amount you have in mind when it comes to selling your home, but it’s important that your asking price is in line with the market conditions and what’s being offered. Instead of winging it, check the local neighborhood listings and see what similar homes are selling for so yours won’t be left to linger on the market.

Forgetting The Small Repairs

After you’ve put your home up for sale and have arranged an open house, one of the first things people will notice is the small repairs – like paint chips or loose doorknobs – that haven’t yet been fixed. Instead of letting this negatively impact the offers you’ll receive, complete the little fix-ups before you schedule your open house so potential homebuyers are not turned off.

Missing On Marketing

There are so many avenues for selling a home these days that it can be hard to know which way to go. However, it’s best to consider all of your options and utilize social media to widen the audience you’ll attract. Keep in mind that if you’re investing in a website or brochures, it’s important to hire a good photographer to show your home in its best light.

Selling It On Your Own

Hitting the market on your own can be rife with a lot of questions, so as a first-time seller you may want to consider the services of a real estate agent. It’s just important to ensure that the person you choose is qualified and has experience in your community so they can steer you in the right direction and offer up helpful advice when it’s required.

Selling a home for the first time can be a stressful thing to take on, but by utilizing the right agent and having reasonable expectations, it may be off the market before you know it. If you’re getting ready to put your home up for sale, you may want to contact one John for more information on the best methods to buy or sell a property.

3 Tips That Will Help You Sell Your Home in 60 Days or Less

60It doesn’t matter where you live, what kind of home you have or what time of year it is. If you’re looking to sell your home quickly, you’ll need to do a better job than other local homeowners who are competing against you. Try these top three tips to secure a sale within 60 days.

1) Enhance Its Appearance

When it comes to selling your home, looks are everything.  If the appearance of your home is impressive, it will be more inviting to potential buyers.  Remove any items that make the home distinctly yours, such as family photos, kids’ toys, or personal items.  Ensure that every space is meticulously clean and clutter free to demonstrate that it is a well-kept property.

It is also extremely beneficial to neutralize the design of your home.  Maybe you love the red walls in your living room or the fluffy pink area rug in your bedroom, but this doesn’t leave much room for others’ imagination.  Make your home a blank canvas upon which buyers can project their own idea of a dream home.

2) Price Wisely

While everyone would love to sell their property for more than market value, inflating your asking price could delay a sale.  Research the asking prices of comparable properties in your neighborhood and consult a reputable real estate professional for advice.

There are several other strategies you can use to price your home for a quick sell.  Psychologically, certain prices are more attractive to buyers even if there’s marginal difference; a home priced at $599,000 is more attractive than a home that’s priced at $600,000.  Although there’s marginal difference between these two prices, the home that’s priced just under the century mark will likely sell quicker.

3) Go The Extra Mile

One of the best ways to make your home stand out from the competition is to offer something that no one else is.  Whether it’s high quality photos or a video tour of your home, your listing can provide viewers with a unique look at your property that encourages them to become attached to it right away.

Several other incentives can be offered to help you close quickly, such as including home appliances and transferring your warranties over to the buyer.  You can also offer to cover their closing costs, either partially or fully, which is another financial perk that will set your home apart from the rest.  Everyone likes a gift-with-purchase, but few sellers offer them.

Need more advice on how to sell your home within 60 days?  Speak to a John Kavaller today to learn more about custom solutions for selling your home.

Are You Struggling to Close Buyers for Your Home? It Might Be Time to Look at Your Price

Buyer's MarketSince most homeowners would like their home to sell at a reasonable price and in a reasonable time, one of the struggles of putting a home on the market is determining the perfect price. Whether your house has been on the market for a while or you’re just readying yourself for what comes next, here are some reasons that it may be time to re-consider your price.

How Long Has It Been?

A house that has been placed on the market will attract the most attention within the first 21 days in most normal markets.  In slower buyer markets like Sullivan County, that time frame moves out to about 60 days While no offers within this 60 day time frame doesn’t necessarily mean that you need to lower your price, you may want to revisit the cost other houses in the area sold for and decide from here how much longer you’ll wait before receiving an offer.

Is It A Buyer’s Market?

When putting your home on the market, there will certainly be a value in mind that you will want to sell it for. However, if you’re currently in a buyer’s market and there is a lot for sale, it’s possible that the price you’re looking for is not something you’re going to be offered. For this reason, it’s important to look at what the market is like in your area.

Do You Have A Timeline In Mind?

Homeowners often have a timeline for when they want to sell their home by, but life can sometimes get in the way and make for the necessity of a swift sale. Whether family issues or a new job have appeared on the horizon, lowering the sale of your home can be a good option to get your house off the market more quickly. You may not get the exact price you were hoping for, but there are situations where waiting for the extra money may not be worth it.

If you’re selling your home and are re-considering your price, it’s a good idea to stay on top of market trends and determine your circumstances before sticking to your original estimate.  Correct pricing and property condition out weigh just about all other factors relative to making a sale within a reasonable time frame.

Catskill Country Real Estate provides comparable sales analysis to sellers with no obligation.  Just contact us to find out what your property should list for in today’s buyer’s market.

The Miracle Broker

Miracle BrokerThere are a number of competent, pleasant, and experienced realtors® who can handle selling your property. Given similar abilities, the broker who usually winds up selling a listing is the last one retained. Here’s why:

Although reputation, marketing, responsiveness, excellent professional judgment play a part in getting to the closing table, timing and price are usually the two main factors that promote a sale.

Timing– A hot market, where prices are rising and little inventory reign, usually engenders multiple offers and a quick sale.

Alternatively, in a cold market, the inventory glut coupled with steadily decreasing prices produce few buyers and low ball offers.

Pricing– A listing price should be established by completing a comparative market analysis. If you don’t have historical data for similar properties within a several mile radius and 6 month closing date, you can’t possibly determine a legitimate opening listing price.

And—without an objective basis for the listing price, you might as well consult your Tarot Cards, read tea leaves, or refer to your astrological calendar. Not giving your house away is just another way of saying: “I am not losing any money.”

The brutal truth is a simple: The real estate market is determined by supply and demand. Too much inventory, lower prices. What you paid is not relevant for selling today. It was relevant when you purchased.

The miracle broker steps in when the seller finally wakes up and decides unreasonable pricing is preventing a sale. The seller’s wishing stops, the phrase: “I’m not giving my property away.” dissolves, and the agent who winds up selling is the broker who priced correctly and convinced the owner timing and price were the two critical elements in the selling process.  Usually, it’s the last broker retained that makes the sale. 

John will prepare a market analysis and fill you in on the current real estate market. Contact him so you have an objective guide for selling your property in today’s difficult climate.

Is Your Local Market Slowing Down? 4 Tips on How to Increase the Number of Offers You Get

SLOW 3Selling a house in a slow market is like playing the world’s worst waiting game. But for sellers who want to make a deal quickly, there are ways to boost your offers and close a bid in short order – even if the market isn’t that hot. If you’re struggling to sell your home, try these four strategies to boost buyer interest and start bringing in offers.

Choose An Agent With Strong Marketing Skills

In a slow market, your choice of real estate agent may make or break the sale. When there simply aren’t that many people looking for homes, you’ll need to make a strong case for why your home is the ideal choice. And that means you need a great marketing campaign.

Look for real estate agents who tend to outsell other agents, and ask them for a consultation. The right agent can implement a great marketing strategy to line up buyers all the way down the street.

Invest In Great Staging And Curb Appeal

In a slow market, you need to offer as much value as you can – and that means making your home look amazing. A fresh coat of paint can do wonders for your décor, while a professional staging can make your home more appealing to potential buyers. You can quickly boost your curb appeal by painting your door, installing some outdoor light fixtures, or adding pieces of outdoor art like birdbaths and sculptures.

Price Your Home Around The Median

Of course you want to get the highest price you can for your home, but keep in mind that in a slow market, there’s a limit to how much you can reasonably ask for. Overpriced houses tend to sit on the market for quite a while, so talk with your real estate agent to see whether your home is overpriced. Ideally, your home should be around the median figure of what’s considered fair market value.

No Immediate Interest? Cut The Price Sooner Rather Than Later

Even if you’ve done everything right, you may not see immediate interest in your home – and if that’s the case, you’ll want to address the problem sooner rather than later. The longer a house sits on the market, the less likely it is to sell, as people may start to think there’s something wrong with the house. If you’re starting to come up on the average sale time without any offers, talk to your agent about cutting the price.

Selling your home in a slow market isn’t easy, but it is possible. With the right strategy, you can bring in the offers and find a buyer. Contact John to learn more about selling your home.