The housing market in Dallas / Fort Worth is HOT HOT HOT! Home sales are at an all time high and now is the perfect time for some homeowners to profit from their investment. With interest rates at an all time low, up sizing and down sizing has never been more affordable.
STEP 1: REASON FOR SELLING
It is often more emotional to sell a home than to buy a home, and the reason for selling your home may be a determining factor in the urgency of the sale. The urgency may also have an effect on the price of the property.
It is important to take the following factors that can influence the sale of your home into consideration:
- Reason for selling
- Price
- Location
- Condition of property
- Size
- Design
- Accessibility
STEP 2: THE COST OF SELLING
It is very important to first calculate the expenses that may be incurred while selling your home. This knowledge is absolutely necessary because it helps you to determine a good price for the house, as well as the potential profit that you can realize.
The cost of selling your home may include things like commission to be paid to the agent, taxes, advertising costs or specific reports, such as a property inspection.
STEP 3: PRICE
The most important factor when putting your home on the market to sell is setting the right price. The price at which your property is marketed can make or break the deal.
Over-pricing of the property may result in:
- A smaller buyers’ pool
- A prolonged stay on the market that will result in lower offers being submitted
Under-pricing of the property may result in:
- Losing money on your investment
- A buyer offering an even lower amount due to a negative perception of the property or area
You can get a FREE price valuation of your home here. I will personally look at the homes in your area that have sold and provide you with a suggested list price range for your home. This process is not automatic and requires a Realtor studying the comparable homes on your area.
STEP 4: LOCATION
Although you cannot do anything about the location of your property, it plays a very important part in the marketability of your home. So, it is important to take the following into consideration:
- Is your property priced in relation to other offers in your area?
- What type of neighborhood is your property located in – well-established, up-and-coming, transitional?
- Is your property located in an urban or rural area?
- What amenities does your neighborhood have to offer?
STEP 5: CONDITION OF YOUR PROPERTY
The condition of your property is always a factor in how quickly your home sells. It’s a fact: acquiring the highest market value and elevating your home above the others in the same price range often comes down to first impressions. Here are some inexpensive ways to maximize your home’s curb appeal:
- Keep the grass cut and yard clutter to a minimum.
- Apply fresh paint to any wooden fences and your front door.
- Clean windows inside and out.
- Wash or paint your home’s exterior.
- Ensure gutters and other exterior fashions are firmly attached.
Some homeowners would love to sell but stray away from the thoughts because of the updates and repairs they think may be needed in order to achieve their goal. In reality, there may be less repairs/updates needed than anticipated. In some cases homes can be sold at maximum value with no repairs done by the seller.
As a Realtor, I offer a FREE consultation service where I come to you and evaluate the entire home and share my opinion of what you to do to their home in order to sell it. Contact me to schedule your appointment.
STEP 6: STAGING
Your agent will provide you with improvements and challenges within your home. This way you’ll know what you are getting into before you complete the purchase.
Knowing what work has and has not been done to your home is important information to have in the buying process. While updates can increase your home value, damages can take money out of your pocket. Your main concern is the possibility of structural damage, which can come from water, shifting ground or poor construction.
Very often a problem appears to be big, but can be fixed with very little effort and not a huge budget.
You can find my favorite staging artists on my preferred vendors list.
STEP 7: ACCESSIBILITY
Accessibility is a major issue in many parts of the world. Again you cannot do anything about your home’s accessibility to specific things, but it does play a role in the price of your property. Your agent will work with you to highlight the places of interest that are most accessible to your home.
Here are a few important areas to think about:
- Public transportation
- Shopping centers
- Schools and other educational institutions
- Outdoor areas – public pools, parks, playgrounds
- Entertainment
- Main roads
If you are interested in learning more about selling your home please use my contact form, email me, or text/call 817-307-4753.
