Several events in life are among the most difficult, and selling your home ranks in the top five. I consider myself very fortunate to have sold my home at all considering that there are many home languishing on the market for months. According to the Atlanta Journal-Constitution: “the median sales price of a single-family home in metro Atlanta declined 7 percent in 2010 when compared with 2009. Prices declined 12.5 percent in the fourth quarter of 2010 from the same period in 2009.” This information helped to play a role in finally placing a sold sign on my property.
Price It To Sell
When I originally placed my home on the market, I was like many others, who thought my house was “special.” Instead, I learned quickly when driving through my subdivision, that many other homeowners felt the same way. Sellers have to realize that in this current market, the only thing special about a home is its price. Many homeowners have to understand that although you may give away on your current property, you will prosper with the same in the next purchase. Make sure your home is priced to go or you will be spending time following the market down, especially if your competition starts to reduce their prices.
Get An Appraisal
Since lenders are becoming highly conservative when valuing a property, it was important to make sure that any buyers who was interested could have the home appraised for the expected mortgage balance. Even if the seller and buyer agreed upon a price it didn’t mean that the lender would automatically accept it. The housing bubble days were long gone. It was well worth the money spent.
Being flexible in a busy household for showings was near impossible. When my property first went on the market, I asked for what seemed to be reasonable time requests and restrictions. I quickly learned that when the buyer is “available” your “available.” This meant removing and boxing unnecessary items, having plenty of fast cleaning products accessible and having the property presentable within 30 minutes. This made a huge difference in the amount of traffic that viewed the home.
My home seemed uncluttered to me. All items in the home were necessary to my decor and that was the problem. Viewing the property from the buyers point of view, my home has too many personal items. After some feedback from the Realtor, I quickly looked on Google for the nearest storage facility and packed up half the house. The difference was incredible. Spaces opened up and the buyers saw more of what made my home stand out.
When a property sold in my community, as soon as possible I went and spoke to the buyers. Most of the time, they did not visit my property, but still provided valuable insight into what made them purchase their home. On several occasions I invited them in and ask for their opinion. The feedback I received allowed me to tweak certain items, that had been overlooked but stood out in the buyers mind. It was the icing on the cake to make the home show in its best condition at all times.
After having my home on the market for 6 months, I received an offer. The offer was within what I wanted the home to sell for and gave me a nice down payment towards my future purchase. My Realtor said, having a recent appraisal available place a huge role in not having a price war. The buyers quoted almost exactly all the reason stated about as to why they decided to make the offer, with price and flexibility(they returned four times to see the home). The ultimate goal is to sell the home and sellers need to keep their focus on that being the most important.