I do not always like the way the media tells people how to buy or sell homes. The tips they give are not always bad, just not always the best way (and don’t forget real estate is local and national ideas don’t always work in your local market). With that said, I was watching the Today Show this morning (OK, so I watch it every morning, my 7 month old isn’t a fan of doing much in the morning, so I don’t do much outside of the house in the morning.)
(I’m still trying to figure out how to embed video, if you know how, I’d appreciate any advice)
I disagree with not selling in January. If there are buyers (and there are, I’m working with a few right now) they are serious buyers who are looking to buy something right now. Don’t buy into no one is buying.
I completely agree with pricing. I know what you’re thinking: “You’re a Realtor, of course you want me to lower my price.” The reality is, I get paid a percentage of the sales price, I want every house I sell to be sold for a million dollars. As it turns out, I want to help YOU sell your house. By pricing a home too high, it won’t sell and likely won’t even be seen by many buyers. My job is to sell houses, that is done by pricing them correctly.
The other details she goes over are doing inspections which I agree you should almost always do a pest inspection first, they are cheap and can show buyers how motivated you are.
Offering to pay for closing costs can be a very good sales pitch. With a lot of FHA buyers currently looking to buy, they lack funds to do a conventional loan (typically 20% down payment). Your sales price may be higher because you are helping buyers close their loan (typically 3% of purchase price).
And the last point she makes about updating and putting money into your home before selling, I generally will tell people not to use that money on updates. Now, there are of course times that it is necessary. For example if you live in a house built-in 1965 and haven’t updated the neon green wallpaper or the shaggy blue carpet I would say it’s a good idea to do those things. However, if you are planning to put $10,000 into a new kitchen I highly recommend not doing that. (Again, there are times it may be appropriate, but you should contact a Realtor (*self promotion alert*) and find out if it would be worth the time, money and headache.)
Now for blatant self promotion: If you are in the market to sell your home, I would love to show you the way that I am able to sell homes even in today’s depressed market. I also promise that if it doesn’t make sense for you to sell, I will tell you that you should stay put (it would not be the first time I’ve turned down business). You can contact me through this blog by leaving a comment or can give me a call (916) 715-8417.