Successful home sellers know that the key to a quicker, less stressful sale begins with an appropriate listing price. Before boxes are packed or walls are painted, understanding your home’s market value should be your number one priority. General Market Analysis Summary also known as a CMA (Comparative Market Analysis) is the first step to estimate the value of a home sale relative to comparable properties in your area.
Factors that influence a CMA include:
– Square footage
– The number of bedrooms and baths
– The age of the home
– Construction and style
– Neighborhood and schools
However, not all CMA’s are the same. There is no standard process for creating CMA’s. Each agent has their own tools and methodology. The CMA you receive from the Curtin Team is different than CMA’s developed by other agents because we use a variety of tools such as the MLS (Multiple Listing Service), tax records, and an understanding of off-market sales. This deep knowledge of the local market makes our CMA’s invaluable to sellers looking to price their homes appropriately for the market.
A CMA from the Curtin Team helps match buyers and sellers with the best options in their price range and desired location and allows sellers’ homes to spend the shortest possible time on the market. Our List to Sale price ratio (seller’s asking price to the actual sale price) is above industry averages because of the way we strategically analyze this data to accurately price your home.
Sellers have enjoyed a great five- to six-year run having the upper hand in our market, but now that conditions are shifting, those looking to list have become a little more apprehensive about making a move.
If you’re still thinking of selling, though, don’t be discouraged. Prices may be softening and inventory is definitely growing, but today I’d like to share five tips and tricks that will help you win in our market:
1. Price your home right from the start. Buyers know a bad deal when they spot one, and since they’ll be comparing your property against several others in the market, you need to make sure that your price is fair and competitive.
2. Have your home in near-perfect condition. The days of selling a home regardless of its condition are gone. Today’s buyers expect homes to be fresh, neat, and updated.
3. Don’t hesitate to adjust your price if necessary. If after 10 showings you haven’t received a single offer, it’s time to adjust your price.
4. Consider a reverse offer. Sometimes if buyers aren’t coming to you, then you should go to them. Writing a reverse offer will not only flatter a buyer, but it can also boost your chances of striking a deal.
5. Offer concessions. If you sweeten the deal by offering to pay closing costs or forgo certain contingencies, buyers may be more willing to move forward with purchasing your home.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
Home Styling | How to “Undecorate”
As I was packing away decorations after the holidays it occurred to me how similar the task is to home styling. It’s what I like to call “undecorating”. Undecorating is the process of removing personal and specific decorations, leaving behind a more neutral palette. Having a clean palette is important to attract potential buyers. When the slate is clean, buyers can imagine themselves living in the space.
As new year resolutions are made and we vow to get more organized, this is a wonderful time to start preparing your home to beat the spring selling rush. When you’re packing away holiday decorations go ahead and pack up family photos, decor and personal items. Not only will you be de-cluttering, but you’ll also get a jump start on packing items that you’ll have to pack later anyway!
Where Do I Start?
It’s easy to get overwhelmed, so start off easy. Begin with your junk drawers, closets and pantry. Make three separate piles: one that you keep, one for donation, and one that goes straight to the trash.
Closets should be about one third full so that prospective buyers can see the amount storage is available. Pack away clothing that’s not in season. Use storage baskets and containers in drawers, cabinets and the pantry for a simple and tidy look. Once you have tackled the de-cluttering you can focus on larger projects. Keep in mind that as the spring market approaches, the busier contractors get and the longer it takes to get on their schedule.
Use these easy tips and you’ll be able to stick to your New Year’s resolution and be ahead of the spring market!