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5 Mistakes to Avoid When Selling Your Home

6 Jun

I’ll help you buy or sell your home in Louisville, KY. If you’re looking to buy a home, I’ll help you pick the right home for you. If you’re thinking about selling, call me and I’ll tell you what price your home is most likely to sell for. Click here to search all available homes on my website.

As the real estate market begins heating up this time of year, we will see a massive increase in the number of buyers. With inventory on homes going up as well, these buyers will have a lot of options to choose from, and they will be picky. Here are 5 common mistakes home sellers make and the simple fixes that you need to correct them.

1. Overpricing
Nothing turns a buyer off faster than an overpriced home. Most of the time,buyers are approved for a particular amount to spend on a home and they stay within that range. If your home is overpriced, you are missing out on a large number of buyers. Conversely, those that are approved in your price range will be able to purchase something better for a similar cost.

2. Odors
It’s important to neutralize any bad or foreign odors in your home. They may not smell bad to you, but you live there every day. People that don’t spend most of their time in your home will have more sensitive noses in this setting. On the other hand, it’s important not to over-neutralize the smell. Dousing the home in air freshener or scented candles can give the impression to a buyer that you are trying to hide something. Its important to get clean, fresh air in your home so that any odors are neutralized and the atmosphere is more inviting.

3. Clutter
Little things like making a bed or dusting a shelf can make a huge impact with potential buyers. Cleanliness is key and any clutter that can be minimized will only benefit your home’s chances of selling.

4. Deferred Maintenance
I’m not saying you that you need to make every single home improvement possible, but small technical problems should be fixed. Inexpensive, quick improvements are often the best way to make your home look appealing. Too many maintenance issues can deter a buyer from wanting to look at a house because they see it as a project rather than a potential home.

5. Dark Decor
Obviously nobody wants to spend the kind of money it would take to completely replace any dark carpets, walls, or floors you may have. A simple fix like opening a few windows and turning on some lights can make a world of difference. Illuminating dark decor as much as possible is important as it will be more inviting to them than a dark home would be.

If you have any questions about what I discussed in the video or know somebody who is looking to buy, sell or invest, don’t keep me a secret! Give them my information. I look forward to talking to you soon!

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Your Home Will Sell Itself If You Price Properly

2 Apr

Your Home Will Sell Itself If You Price Properly

I’ll help you buy or sell your home in Louisville, KY. If you’re looking to buy a home, I’ll help you pick the right home for you. If you’re thinking about selling, call me and I’ll tell you what price you home is most likely to sell for. Click here to search a available homes on my website.

The 5 Keys to Properly Pricing Your Home
This week I wanted to talk about why it’s important to price your home correctly from the start of your selling process. I’ve talked about the importance of pricing correctly on numerous occasions, but I think right now as we experience the spring and summer surge in sales here in Louisville, I should probably remind you once more. Adjusting the price 15 to 30 days after listing will lose you valuable time and possible buyers.

  1. The Fresher Your Home, the Higher the Price: You will always get more money the longer your home has been on the market. Buyers will see that it is a fresh listing and will be competing to come and view your home.
        1. It’s similar to when a new iPhone or Playstation comes out: the price is always highest right when the product is released.

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  2. Buyers Shop Around: Just like at the grocery store or when you’re looking for a car, home buyers will want to shop around to find the best value available. If your home is properly priced and buyer see a great value in it, then you will have no trouble attracting buyers and selling for a good price.
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  3. Appraisal: If someone takes out a bank loan to buy your home, the bank will come out and appraise your property. If the bank doesn’t appraise for the contract price then you’re back to square one and you’ll have to start the process over again. My advice is to listen to the recommendations of your real estate agent when pricing and just be very, very careful.
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  4. Pricing Properly: Instead of fixating on a certain location, people are more worried about what kind of bang they’re getting for their buck. If a home is priced right, location doesn’t seem to be a huge obstacle for buyers these days.
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  5. Negotiation: If a home is not priced correctly, nobody will really consider making an offer on it. Just a few weeks ago when the federal government pulled billions of dollars out of their bond purchases, interest rates began to creep back up. People are getting qualified for a particular price and they are not wanting to shop all over the place, and as inventory dips lower and lower people don’t want to shop around. Homes are selling quickly on this market if they’re priced properly.

The final price of your home is always up to you to decide, but the smart thing to do is to let the market decide the listing price of your home. If you’re on the market and not getting any showings, or if you are getting showings but no offers, then these are both indications that you’re asking for too much.

 

If you’d like more information on pricing your home correctly, take a look at these other articles:

http://www.gaintheadvantage.com/sellers/settingprice.shtml

http://stevequanstromgroup.com/price-your-home-right/

http://www.royalgazette.com/article/20130516/REALTORS06/705169957

 

Otherwise, if you know anyone looking to buy or sell real estate in the Louisville area, then please send them down my way. I can be reached at (502) 220-4663 or email me at toddmartin@realtor.com.