Selling Your Home:
Should I List In Summer Or Winter?
Contrary To “Popular Wisdom”, Listing In Winter Might Bring You A Better Price!
Everyone knows that if you want to sell your home quickly and for the best price, you need to list in Spring with an eye to selling then or just as Summer begins, right? I mean, this is what we’ve been told forever, so it must be true … Right?
Well … maybe not so much. Apparently there’s a lot of research that tells us that you might actually have a better chance at a higher priced sale in the winter! It’s contrary to what “common knowledge” tells us, that’s for sure, but think about it for a moment. If everyone “knows” that it’s harder to sell a home in winter what happens? Well, less people list their homes. And what does that mean? It means if you do list your home in winter, you have less competition. And, less competition can mean a faster, more profitable sale … if the Buyers are active.
Here’s a really comprehensive article by Kenneth R. Harney from the Los Angeles Times:
http://latimes.com April 20, 2014 5:00 AM
A study of 1.1 million home listings between 2011 and 2013 in 19 major markets by the national realty brokerage firm Redfin found that, contrary to popular impressions, houses put on the market in winter — defined as Dec. 21 through March 21 — had a 9-percentage-point greater probability of selling within 180 days and at a smaller discount to the initial list price than houses put on the market during the spring months (March 22 to June 21) …
How To Be Absolutely Certain Your Home Won’t Sell
Of course, in all this talk about seasonal influences and best times versus worst times, it’s possible to lose track of a couple of very important ideas. The first is that getting the absolute best price possible in the absolute least time on the market will probably not be your only concern when you sell your home. Many things factor in, such as school schedules, work transfers … a thousand different things need to be weighed against each other and a balance reached.
The second thing to keep in mind if you are considering selling, is that the only way to guarantee your home will not sell … is to keep it off the market. If you’ve decided you want to sell … and you could do it now or 5 months from now … waiting those 5 months because of some statistical speculation you’ve read is usually not the wisest move. While you’re waiting for that statistically “superior” time, you could be passing up qualified buyers prepared to purchase your home. Get it on the market. That way you have some reality to deal with … and not just speculation.
If you’d like to discuss the possibility of listing your home for sale in the near future, give us a call. My Team and I would be pleased to assist you in any way we can.
Pocket Listings Surging Experts Say
Pocket Listings As A Home Sales Style
Can Have Repercussions for Sellers
Those with experience in the labyrinthine world of home sales will be familiar with the term "pocket sale". If you're not an agent, broker, or you've never sold or purchased a home this way, the term may be new to you. A "pocket listing" is the listing of a property where the broker witholds the property information from any multiple listing service or advertising. A pocket listing may be closed ended or open ended. In other words, the agreement may state the listing will be witheld from the MLS and advertising for a specified period and then information will be distributed, or the entire listing period may be involved. Whatever the individual case, pocket listings are becoming more and more prevalent in home sales in our current market.
Why creat a Pocket listing? Well, the advantages to the broker are obvious. If a broker can sell the property to one of his own clients, he keeps the entire commission by "double ending" the property. Some brokers with who do these types of home sales and hold these listings will open them up to other agents in their office. In this case the broker keeps the entire commission within the brokerage. Additionally, the agent doesn't spend any money on advertising the home.
The advantages to the Seller are more difficult to see. Some people find the process of home sales difficult. They don't like hordes of prospective buyers and "lookey-loos" traipsing through their property, or they are uncomfortable with "the public" knowing their home is for sale. This type of Seller may appreciate the quiet efficiency of this type of home sale. However, there may be disadvantages as well.
Here is an article by Kenneth R. Harney in the Real Estate section of the Washington Post which discusses the in's and out's of Pocket Listings:
"Pocket listings are surging, real estate experts say, because of historically low inventories of homes for sale in major metropolitan areas, …"
Is A Pocket Listing Your Home Sales Style?
There are many forces pushing Pocket Listings into the ranks of the more popular forms of home sales. However, if you're considering it, you should be aware of the benefits and the drawbacks. Pocket listings can restrict the number of potential buyers who will see your home, thereby restricting the number of offers and finally your selling price as well. You should also be aware of the potential conflict of interest that happens unavoidably when both sides in a transaction are represented by one brokerage. But, if those things are all right with you and you're more concerned with crowds and publicity, then the pocket style of home sales may be for you.
5 Ways To Keep Your Home Sale On Track
How appraisals are derailing sales
Seller Tips From Amy Hoak Of MarketWatch
Here are 5 things you, as a Seller, can do to keep your home sale on track. This is a difficult time to get things closed, as any Realtor will tell you. Resistance and "Super-Caution" by lenders, banks, and appraisers are welcomed in some respects, but can cause serious difficulties when it comes time to close. A "pro-active" seller can do a lot to avoid and remedy escrow problems.
"Real-estate agents will tell you that low appraisals have killed many transactions in recent years. Many agents say appraisers — who are hired by lenders to assess the value of the home — are overly conservative in their valuations these days …"
Seller Tips: Don't Just Sit By And Watch
This is the mistake that most Sellers make. Sure, you are working with a well qualified Realtor, a good lender and well-respected service providers, but the simple act of being involved can help keep all these professionals focussed and alert … and can be of huge benefit in the long run.
Home Seller Tips.
Staging For The 2012 Real Estate Market
Home Staging Doesn't Need to Be Expensive
Home staging doesn't need to be a budget buster. If you look for the little things that pack a big punch … like light fixtures and throw rugs … you may be able to stage your home for sale with very little expenditure.
Here's an article we found by Montana Ruark in EzineArticles. He's got some great tips.
Staging for the 2012 Real Estate Market
by Montana Ruark
Presenting any home in a slow yet competitive market becomes a challenge for sellers and Realtors. Each property that is entered into the multiple listing service creates a decreasing chance for the already existing properties to be sold. Being able to remain at the top of the buyer's interest in your area depends on a couple of important factors; a strong selling team should include a seller that understands the marketing plan, and a Realtor that has the ability to make the best decisions for each individual approach. With the presentation being the key to having a successful marketing approach, staging the right way the first time will determine the speed of your success.
Buyers need a home that is move-in ready. The least amount of improvements with the highest quality of amenities is a guaranteed selling combination for a new buyer. So begin your staging with packing and improvements. This isn't a difficult task; pack everything that isn't needed to make it through the next few months. Packing allows buyers to see the amount of space in closets and other rooms as well. For improvements you will need some simple tools and new hardware, and your house will begin to look in great condition for you open house and photo shoot. Look for light switch plates, vents, and door knobs. Changings the little stuff early on can keep you from getting complacent towards the end of the improvement process.
Before you replace anything, paint every room with the right staging colors. Next turn your attention to light fixtures, and bulbs. Replacing every light fixture for an energy efficient fixture is a great incentive to use for marketing. Replacing all of the bulbs will give each room the same lighting consistency throughout your home. Replace any out dated fixtures in your home. Even if they are in the best condition most buyers want a newer look and feel in their home.
So far your home should have a fresh paint job, the basic amount of furniture remaining in the room and a bright new set of lamps to show off every space. Next is moving everything that is packed away to another location. Get it out of your home and research some different storage options.
Complete each room with a focal point and matching accessories. Draw in buyers with a fresh look or a life style. Do not think that you cannot use color in your space as long as the wall colors are neutral, you can then apply different looks to each room and have an outstanding showing that every buyer will remember. Finishing these tasks correctly will provide your home with the best results.
Article Source: EzineArticles.com
Home Staging Is A Powerful Tactic … But It Needn't Be Expensive
The point of staging your home is to get it sold. It's not to rebuild it. Do what will make the home look nice and attract a buyer. Don't go overboard updating everything.