FREQUENTLY ASKED QUESTIONS
When is the best time to sell my home?
This frequently asked question cannot be answered with a simple or general answer. Every real estate market is different, therefore, the best time to sell a home will be different from real estate community to real estate community. In most cases, the spring months are the best time to be selling a home.
Since every home seller’s situation is different, you should discuss the timing of your home sale with me. In some cases, selling a home during the fall and winter months actually maybe better than waiting until the spring real estate market. This is due to a combination of many factors including lower competition and that serious buyers are always looking for a home, just to mention a couple factors.
How is the real estate market right now?
A frequently asked question from home sellers before listing their home for sale is related to the local real estate market. There are many market indicators that I am be able to share with you to help explain the condition of the local real estate market. One of the most important indicators on market conditions is average days on the market. The average days on market can indicate to a seller how quickly homes are selling when listed for sale. Other examples of market condition indicators include market absorption rates, average sale prices, and average list price to sale price ratios.
What steps should i take to prepare my home for sale?
There are several things you need to know before listing your home for sale! A frequently asked question from home sellers before listing is what steps should be taken before listing their home. Not properly preparing a home for sale can put a home owner at a huge disadvantage. The expression “You never get a second chance to make a first impression” is absolutely true when it comes to selling a home. When selling a home you must be sure that your home presents itself in the best possible light. Making sure clutter is at a minimum, freshly painting rooms, installing new carpeting/refinishing hardwood floors, or ensuring odors are non-existent are just a handful of things that should be done before listing your home for sale. I will work with you to make a plan to get your home in the best shape for the market.
Why is the assessed value different than what you say my home is worth?
Assessed value is not the same as market value or appraised value. There are many homes that could be sold for significantly more than an assessed value and others that maybe sold for significantly less. The assessed value of a home is used for the purpose of taxes in your local municipality. The assessed value of a home is multiplied by the local tax rate to determine what your yearly taxes are. The assessed value has no impact on how much your home is worth to a potential buyer in the marketplace. However, it can give you valuable information about the relation between sales price and assessed value.
Can i determine how much my home is worth (avm)
from internet websites like redfin or zillow?
The answer to this frequently asked question is NO! Anyone who has bought a home, sold a home, or just looked at homes, has heard of websites such as Zillow and Trulia. These are also commonly referred to as third party real estate websites. Third party real estate websites are not local to every real estate market.
These third party real estate websites provide estimates of home values for practically any home in the United States. How is it possible that a third party website that is headquartered in California or Florida can provide an accurate home value for a home located in Seattle, WA? It’s not! These third party websites, use computer generated home values based on calculations and formulas.
These websites providing inaccurate estimates (or “Zestimates”) can create a false sense of hope and lead to frustration. A home seller who is told their home is worth $20,000 less than the online estimate is going to be understandably upset. It’s critical that when selling a home, the value is determined by a top Realtor, not an internet website!
Should i price my home higher to leave room for negotiations?
This frequently asked question often leads to a common pricing mistake that sellers make. Many sellers believe they should price their home $5,000-$20,000 higher than what a top Realtor suggests to leave room for negotiations and low-ball offers. A well priced home will sell quickly and will sell for close to the listing price. There is no need to leave room for negotiations, as today’s home buyers are very well educated. A seller who prices their home high to leave room for negotiations can actually be costing themselves more money than if they price it to reflect the suggested market value.
What should i disclose to potential buyers?
When selling a home, it’s important you disclose to potential buyers anything you are aware of in your home. Nobody likes “getting the raw end of a deal” when it comes to buying a home, car, or anything for that matter. If you’re aware of defects with a roof, appliance, or home in general, you’re always going to be better off being honest and upfront. If you’re aware of defects, whenever possible, fixing them before going on the market is best. This can avoid potential issues and/or lawsuits once your home is under contract, after inspections, and even years after you have sold your home. Disclose, disclose, disclose.
What is a “listing agreement”?
A “listing agreement” is a document which lays out the contractual terms between the seller and the agent who will be listing the property.
What type of information will you need from me?
To do the best job for you, I will need the best information you can provide.
This would include such things as:
your financial goals regarding the sale of your home
flexibility in accepting terms and conditions
preferred timing for a sale
disclosure regarding any defects the property may have
details about the positive aspects of the home
What if a buyer approaches me directly?
If your home is listed and a buyer contacts you directly, please refer them to me. I would be happy to show them your home. If they have any interest in moving forward with an offer, I can them put them in the hands of a good agent who can help them prepare an offer.
How much is my home worth?
Most home owners want to know how much their home is worth. This frequently asked question is another one that cannot be answered with a generalized answer. One of the best perks to owning a home is the ability to make it your own and improve it how you’d like. I can help you determine a price range for your home after researching local sales & market statistics to prepare a Comprehensive Comparable Market Analysis (CMA) specific to your home.