What is the difference between list and sales prices?
The list price is how much a house is advertised for and is usually only an estimate of what a seller would like to get for the property. The sales price is the amount a property actually sells for. It may be the same as the listing price, or higher or lower, depending on how accurately the property was originally priced and on market conditions. If you are a seller, you may need to adjust the listing price if there have been no offers within the first few months of the property's listing period. The key is to know what homes you are competing with. That is "fluid" during your listing period so Michele watches what goes on the market and what sells to keep your price in line with the market.
What are the two most important factors when selling a home?
Price and condition are the two most important factors in selling a home, even in a down market. The first step is to price your home correctly. Use comparative sales information from your agent, or pay for a professional appraiser to objectively evaluate your home's worth. Second, go through the house to evaluate clutter, odors, maintenance items and of course any repairs necessary to make your home shine in the best light. We may only get one chance with your buyer prospect, we want to make a good first impression. Follow up with showings and of course internet advertising and marketing is key. Michele has a strategy.
What is the best time to sell ?
Because many buyers prefer to move in the spring or summer, the market starts to heat up as early as February. Families with children are eager to buy so they can move during summer vacation, before the new school year begins. The market slows down in late summer before picking up again briefly in the fall. November and December have traditionally been slow months, although some astute buyers look for bargains during this period. My point is this... if you are on the market, your time is now. What we know now versus waiting is 1. our competition and 2. the market conditions ( like interest rates ) and the market value of your home. If you have concern of a home near you foreclosing for example, this could drive your value down.
What is the difference between market value and appraised value?
The appraised value of a house is a certified appraiser's opinion of the worth of a home at a given point in time. Lenders require appraisals as part of the loan application process if your buyer is getting a loan. Even cash buyers tend to put this as a condition into their offers. Market value is what price the house will bring at a given point in time. A comparative market analysis ( CMA) is an informal estimate of market value, based on sales of comparable properties and active properties within your neighborhood or close proximity.
Are you ready for Michele to visit and do a free CMA on your home ?
Now is the time call. During the consult you will be given statistics and offered advise about staging or preparing for the sale.