Getting ready to get into the real estate
market?
Most sellers today are nervous and unsure. They
wonder: is taking a loss on our house inevitable?
The answer is no!
A strategic sales plan, coupled with a smart buy in
your new location will ensure that you recoup the
maximum value for your home.
market?
Most sellers today are nervous and unsure. They
wonder: is taking a loss on our house inevitable?
The answer is no!
A strategic sales plan, coupled with a smart buy in
your new location will ensure that you recoup the
maximum value for your home.
Getting the value for your home
Your Strategic Sales Plan
Consult with an expert, Louise Donahue & John Noble to ensure your house is priced
competitively and well-staged. Why? Because while there are always three factors to getting
a home sold - location, price and condition - only two are under your control: price and
condition. Of the two, which is significant? Price. Remember that price will correct bad
condition, but condition will never overcome a bad price.
Act fast. You're in a race against time - the best price you'll get in today's market is the one
you get now. If you wait, it will be lower. And every month the price on your home decreases,
your costs remain the same. For example, research shows that sellers who listed their home
at the price the agent originally recommended, sold the home 38 days faster. This is over a
month of mortgage and tax payments! For a home that cost $200,000 at time of purchase,
with 20% down and an interest rate of 6.5%, selling a month sooner results in a savings of
$1101.31 for the mortgage alone, not including taxes and insurance that the homeowner would
be paying during this time.
Don't worry about where the market has been, keep your focus on where it is going. The
price your neighbor down the street got 6 months ago is not relevant in a market where your
house is competing with others from across town. Again, we have the king of long-term,
wide-ranging data that will help you decide how to pinpoint your price with precision.
Your Smart Buy
Move up. Whether you are moving to an area where prices are in a downturn, or dreaming of
nicer, bigger, home in your town, selling your house now can get you into the home of your
dreams. Falling home prices are a great opportunity for a savvy homeowner looking to move
up. Even though your house price may be lower, the smaller loss at sale can be made up by
greater savings at purchase. For example, let's take that same $200,000 home, and imagine
that it has decreased in value by 5%, reducing the sales price to $190,000. At the same time,
let's imagine that you would like to move up and the $400,000 home you have been eyeing
has also decreased 5%. That's a savings of $20,000, and it is a home that is likely to be
better positioned for appreciation when the market rebounds.
Bottom line: don't pit yourself against the market, work with the market to get the most out of
your house sale.
competitively and well-staged. Why? Because while there are always three factors to getting
a home sold - location, price and condition - only two are under your control: price and
condition. Of the two, which is significant? Price. Remember that price will correct bad
condition, but condition will never overcome a bad price.
Act fast. You're in a race against time - the best price you'll get in today's market is the one
you get now. If you wait, it will be lower. And every month the price on your home decreases,
your costs remain the same. For example, research shows that sellers who listed their home
at the price the agent originally recommended, sold the home 38 days faster. This is over a
month of mortgage and tax payments! For a home that cost $200,000 at time of purchase,
with 20% down and an interest rate of 6.5%, selling a month sooner results in a savings of
$1101.31 for the mortgage alone, not including taxes and insurance that the homeowner would
be paying during this time.
Don't worry about where the market has been, keep your focus on where it is going. The
price your neighbor down the street got 6 months ago is not relevant in a market where your
house is competing with others from across town. Again, we have the king of long-term,
wide-ranging data that will help you decide how to pinpoint your price with precision.
Your Smart Buy
Move up. Whether you are moving to an area where prices are in a downturn, or dreaming of
nicer, bigger, home in your town, selling your house now can get you into the home of your
dreams. Falling home prices are a great opportunity for a savvy homeowner looking to move
up. Even though your house price may be lower, the smaller loss at sale can be made up by
greater savings at purchase. For example, let's take that same $200,000 home, and imagine
that it has decreased in value by 5%, reducing the sales price to $190,000. At the same time,
let's imagine that you would like to move up and the $400,000 home you have been eyeing
has also decreased 5%. That's a savings of $20,000, and it is a home that is likely to be
better positioned for appreciation when the market rebounds.
Bottom line: don't pit yourself against the market, work with the market to get the most out of
your house sale.
Sellers
EMail: DonahueNoble@kw.com
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