3 Tips for Selling Your Home in 2016

3 Tips for Selling Your Home in 2016

Despite the advantages of a seller’s market, it never hurts to take proactive measures to ensure your home sells for the best price and as quickly as possible. Consider the following suggestions to position your property favorably in 2016.

  1. Exceed buyer’s expectations. Many people who’ve been around the real estate block expect pre-owned homes to come with problems. Get your property into tip-top shape before you put it on the market and you’ll eliminate most buyers’ potential objections. Doing so will require fixing anything that does not work, touching up paint (or repainting altogether) and thoroughly cleaning or replacing any carpets. You may also need to update your landscaping and repaint the exterior of your home. It sounds like a lot of work—and it some cases it may be—but selling your property at asking price is worth it.
  1. Don’t price your home without a comparative market analysis. You may think your property is worth $500,000, but the local real estate market needs to agree with that price if you want to have any chance of making a successful sale. Ask your real estate professional to provide you with a comparative market analysis (also known as a CMA) showing how your property stacks up against similar recently sold homes. This analysis will also help you understand what it will take to sell in your neighborhood. For example, if you live in an area with a number of foreclosures, you might need to lower your asking price.
  1. Don’t wait for values to go higher before you put your home on the market. According to the National Association of Realtors® (NAR), new home construction is lagging behind job growth in nearly two-thirds of metro areas in the U.S. Additionally, there are more buyers considering the housing market, as a result of continued improvements in the job sector and broader economy.However, that doesn’t mean you should wait. While it is true prices could continue to increase, waiting to sell carries significant risks that may not be worth your while for the potential of a better price. If you’re ready to sell, then jumping in with a competitive price can also lead to more offers and a potentially higher sold price for your home.

If you’d like to discuss the current real estate market in your area or evaluate options for selling your home in 2016, your real estate professional can provide valuable insight and advice.

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