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Monday, April 22, 2024

Real Estate Logic – Four factors to ponder before a ‘for sale’ sign goes up

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When the time comes to sell your home, every seller is interested in getting the highest possible price. To maximize your selling price, here is a checklist of the factors to consider before putting your home on the market. Though the market for the past year has been unusually strong for sellers due to a shortage of homes for sale, this will not always be the case. Be sure to consider the following when you reach the time to consider selling.

CURRENT MARKET DEMAND:

Is there an adequate number of buyers ready and able to purchase your home in the local economic climate? Recent sales statistics can tell you how hot the market really is. One of the big indicators of current demand is the level of mortgage interest rates. Rising interest rates will tend to discourage some buyers, and disqualify others who may have been financially able to afford your home in a lower rate market.

CURRENT MARKET SUPPLY:

How many homes are on the market of similar size and price, and are competing for the people who might be buyers for your home? It would be ideal to put your home up for sale when there is a shortage of competing properties in your geographic area.

CURB APPEAL:

Will your home make a good first impression on an interested party with its outward appearance? If not, devote the time and expense necessary to be sure that the exterior attracts, rather than detracts, buyers. As the old saying goes; you will never get a second chance to make a first impression.

INTERIOR DECOR AND REPAIRS:

Inspect the inside of your home with a critical eye. Check out the wall coverings, window treatments, floors, and the cleanliness and organization of every room. Because of today’s fast pace, few buyers want to buy a home at top dollar that needs extensive repairs or redecorating. You can actually sell at a higher price in less time if you put your home in tiptop shape before listing it.

ADVICE: Put your best foot forward and then engage a professional Realtor from the get-go and allow them to coach you because the services of a professional will certainly give you the edge that you need to be successful.

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Gary Leavenworth
Gary Leavenworthhttp://www.garyleavenworth.com/
Gary Leavenworth is a senior Realtor associate and managing partner of the national award-winning Legacy Team of Coldwell Banker Realty and has been serving Naperville’s real estate needs since 1982 with a career volume exceeding $400 million in closed sales!  If you have a real estate question, email Gary at gary@cblegacyteam.com or call/text him directly at 630.885.1565.
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