Republished from the Danbury News Times
Yes, word has it there is a shortage of inventory in our marketplace. That’s good news for the seller. So you finally got off the fence and decided to “make the move.” That’s great! Here are a few things you will need to consider prior to placing your home on the market.
First, schedule a meeting with your Realtor. He/she will come to your home to discuss your real estate goals. Some questions they will ask include why have you made the decision to sell your home? What is your timeline? Are you moving local or to another state? Purchasing another home, or renting? Do you need to sell yourhome for the equity for your new home purchase? What plans do you have in place for your move?
It is important your Realtor has a good understanding of your goals so together you are able to establish a plan of action and set reasonable expectations which will enable you to move forward.
Your home’s value will play a large role in determining how you move forward or not. If you are in negative equity for example, that is an important factor to consider in your decision making process. To establish market value, your Realtor will prepare a Comparative Market Analysis, taking note of all relevant factors that will come into play when establishing value. This includes reporting homes similar to your home with similar criteria such as town/style/number of bedrooms and baths/square foot- age year built and acreage. The condition of your home compared to the homes in the report will be evaluated in the analysis.
Once a market value for the home has been determined, and your ready to move forward, important to get your home show- ready. One trick I suggest is to walk through your home room by room with a buyers’ eyes. This gives you good perspective of what the buyer will see and will highlight anything you may need to attend to. If the home is in need of major repairs or updating, the home should be priced accordingly. Your Realtor may suggest a few things they feel would warrant attention to make the home show best. Often we will see curb appeal at the very top of the list. First impressions do matter!
Freshening up the flower beds, a fresh coat of paint on the door if necessary, a few flower pots and a welcome mat at the door is a perfect touch. A fresh coat of paint on the walls is an inexpensive fix and will do wonders if needed. Your Realtor may discuss staging the home if they think it would help in the sale of your home.
Remember, your Realtor’s goal is the same as yours: to sell your home for the highest price, in the least amount of time with the most favorable terms.
Laura Cruger, William Pitt Sotheby’s International Realty, (203) 948-1103, lcruger@wpsir.com
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