Getting the most for your Southshore house isn’t magic, it’s about taking strategic steps that will ensure success!
Consult with an expert! In today’s market who sells your house matters. Gone are the days when a house sells itself and all a person needs is a licensed friend who can list it on the MLS. It takes a real professional to ensure that your house is listed competitively, well-staged and strategically marketed.
Act fast! You’re in a race against time—the best price you’ll get in today’s market is the one you get right now. With every day your home doesn’t sell it’s costing you money. Keller Williams research shows that sellers who listed their house at the price suggested by the agent sold 38 days faster. For a house that cost $200,000 at time of sale, with 20 percent down and an interest rate of 6.5 percent, selling a month sooner results in a savings of $1101.31 for the mortgage alone, not including the taxes and insurance that the homeowner would be paying during this time.
Don’t worry about where the market has been, keep your focus on where it is going. The price your neighbor down the street got six months ago is not relevant in a market where your house is competing with others from all across town. The right real estate agent will have wide-ranging data that will help you decide how to pinpoint the best price possible with precision.
Move up. Whether you are moving to an area where prices are in a downturn, or dreaming of nicer, bigger, home in your own town, selling your house now can get you into the home of your dreams. Falling home prices are a great opportunity for a savvy homeowner that wants something bigger and better. Even though your house price may be lower, the smaller loss at sale can be made up by great savings at purchase. For a $200,000 house imagine that it has decreased in value by 5 percent, reducing the sales price to $190,000. At the same time, let’s imagine that you would like to buy a $400,000 house that has also decreased by 5 percent. That’s a savings of $20,000 on a house that is likely to be better positioned for appreciation when the market rebounds.
Bottom line: don’t pit yourself against the market, work with the right REALTOR and work within the confines of market to get the most out of your house sale.
About Sherri Evans
Sherri Evans is the Agent Services Coordinator for the Keller Williams Realty Southshore office. Her 15 years experience in the mortgage industry as well as an extensive background in customer service made for a natural transition to her current role in the real estate business. Sherri manages all front office operations, specializing in assisting agents with software tools, new associate orientation and listing compliance.