When Is a Good Time?
How to Know When to Sell Your Home
Is there a right time to sell your home?
By Herbert J. Cohen
You like your home but you
just received a raise and your income will go up substantially. You
begin thinking of moving into a larger home in a nicer neighborhood. You
know you are living in precarious and unpredictable economic times and
you wonder if this is the right time to sell your home. Will you be
making a financial mistake if you sell in this unpredictable economic
environment? No one has a crystal ball, but there are several factors
you should consider before making a decision to sell your home. A
mistake could cause you lots of money and worry.
Why do you want to sell?
The big question you need to
answer for yourself is why you want to sell. It is a lifestyle question
and does not depend upon the time of the year. If you find yourself in a
buyer's market, the seller is at a disadvantage. You want to be
absolutely sure in your own mind that the move makes sense. If you
decide that you really want to sell your home, then here are some things
to keep in mind.
Is there a best time to sell?
Conventional wisdom says the
right time to sell your home is in the spring since that is the time
when there are largest number of buyers. But that is also the time of
the largest home inventory. So what about the winter? Good idea,
perhaps, since it is a time of less competition with fewer houses on the
market. But can you be sure? In the summer buyers may feel a sense of
urgency, with school approaching, and in the fall empty nesters, not
concerned about school opening dates, may be more motivated to buy. The
bottom line: Sell your home when you truly want to move and don't tie
your moving decision to any season of the year.
Before selling, do your homework to get the best price for your home
Once you decide to sell your
home, do your homework. Find out what comparable houses in your
neighborhood are selling for. Calculate what they are selling for per
square foot. That is a useful number to know as you evaluate the current
market value of your home and other homes you are considering buying.
Stage your home. You don't need a professional to do this. You can do it
yourself. Here's the basic idea:
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Make sure your home is spotlessly clean, especially your kitchen and bathrooms.
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Clean the carpets professionally. Paint the main areas of your home with a neutral color.
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Get rid of the clutter.
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Pack away personal stuff like photos of family and personal knick-knacks.
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Put away small appliances like toasters to make more clear counter space.
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You want a clean, spacious look. Consider taking one piece of furniture out of each room so your home looks uncluttered.
Price your home to sell
The most important thing in
today's economy is price. Forget about what you paid for the house. The
price of a home is determined by today's market conditions, so don't get
stuck playing an old memory tape about how great the house is and how
much it was worth when you bought it years ago. That is irrelevant.
Price your home under market value to get the most buyer traffic and
interest.
First impressions of your home
Now step outside and look at
your house. Does your house have "curb appeal?" Is the lawn trimmed? Is
the front door painted? Is there a plant near the main entrance? You
don't have a second chance to make a first impression, so make sure that
the first impression is a great one. Good luck on selling your home
when you want to sell it.
Labels: 2013 real estate trends, albemarle county real estate, buyer agent, c'ville, Charlottesviile real estate, real estate agent
