When it comes to selling, it is very tempting to price your house too high. A house is your biggest asset and emotionally it’s hard to be logical about the value. Here’s why you should NOT overprice your house.
- Timing is everything. The greatest potential for buyer traffic is in the first 2-3 weeks. If priced high initially, you miss this window of opportunity.
- Overpriced listings will not get shown. Agents & savvy buyers will only look at properties they feel are fairly priced.
- It benefits the competition by acting as a selling point for market-priced homes. It’s a cue to buyers to say “I can get a similar house for less!”
- Lender trouble. Even if you found a buyer willing to pay more (a BIG IF), the loan is based on accurate appraisals. Appraisers base value on comparable sold properties.
- Overpriced homes sit on the market longer and then buyers think there may be issues with the property itself.
Nothing hurts the selling process more than overpricing a property. It is the number one reason why houses don’t sell.
If you are looking for an agent who will give you an accurate, “must know” market pricing, then give me a call.
Donna ForestM: 603-731-5151donna@donnaforest.com Follow her on Facebook |
When you're thinking about selling your home, decluttering is a great first step! Here are some ways to make the process easier.
1. Come Up with a Timeframe
Once you know when you want to sell your house creating an attainable timeframe is key. That way it is more manageable to tackle the decluttering process. Once you know your timeframe for selling it'll make breaking up the process easier, whether you have weeks or months before listing.
2. Break Up the Process
Depending on your timeframe come up with a goal for decluttering. Whether it is one item each day or one area at a time. Maybe breaking up the process by category would work best for you, such as clothing, kitchenware, holiday decorations, etc. By making the main goal into small attainable projects, it will make the overall process a lot easier to overcome!
3. Write a List
A great way to help keep your decluttering goal on task is to write a checklist. It's so fulfilling to check off an item!
4. This is Still Your Home
While decluttering is great, don't declutter just to declutter. Your home does not need to look perfect in order to sell, but organizing and staging your home will help potential buyers imagine themselves in the space. Plus, it will make the photographs of your home look even better!
5. Is this a Job for Me or the Professionals?
If you have no idea where to start or feel overwhelmed by the process, hiring professionals might be your best option! There are great companies that can show you how to organize and declutter your space by teaching tricks that will help you in the future.
6. What to do After You Declutter
While you are decluttering it would be a good idea to create different piles or bins for every item you no longer need. Instead of throwing everything in the trash, make a donation, sell, or gift piles, that way your no-longer-needed items can go on to another home.
Contact us for more useful tips if you are thinking of selling! For the best selling, buying, or renting experience, call "The Best Team in Town" at 603-526-4116!
Sources:
https://www.stpaulrealestateblog.com/clean-declutter-eliminate/
https://www.homelight.com/blog/how-to-clean-out-a-house-to-sell/
If you want to sell your home faster and most likely for more money, consider hiring a home stage. Home staging is not decorating or interior design. It is the act of preparing and showcasing a home for sale to attract buyers. A home should be merchandised and marketed just like any other product. Staging is a proven marketing strategy - staged homes present and show better, they sell lifestyle and emotion, and they don't give buyers a reason to offer less money. Buyers are willing to pay a premium for a move-in home. Professionally staged homes stand-out above the competition and also photograph better - a key component in online marketing. It's hard to make the mental leap from this is your home to now being a commodity on the market. Stagers are trained professionals who understand exactly what is needed to get your property prepared for sale. On average, staged homes sell 88% faster and for 20% more than nonstaged homes. Bottom line, it is money well spent to properly prepare a house for sale.
Contact me for more useful tips if you are thinking of selling!
Donna ForestM: 603-731-5151donna@donnaforest.com Follow her on Facebook |
There are a number of myths about how real estate actually works. These misbeliefs can hurt your chances of selling at the right price and in a timely manner. Below are a few common misconceptions.
- Overpricing leads to higher offers: Quite the opposite is true. Overpriced homes sit on the market longer and end up with lower offers. They become stale listings and buyers wonder what is wrong with them.
- Spring is the best time to sell: Typically spring & summer were known as the selling season. However, given the lack of homes for sale, any time of the year can be the best time.
- If you get an offer right away then the house was underpriced: A correctly priced home will receive offers right away. After all, isn't the goal to sell the house and not have it sit on the market for weeks on end? Buyers are online constantly looking and are ready to jump when something comes on that fits their needs.
- Homes don't need to be prepped for sale: This couldn't be further from the truth. Most buyers want move-in condition homes. Houses that are decluttered, cleaned, and staged sell faster and for more money.
- Good marketing includes open houses: The reality is only 7% of buyers find their home through an open house.
Contact me for more professional advice on the right way to sell your house.
Donna ForestM: 603-731-5151donna@donnaforest.com Follow her on Facebook |
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What is a seller’s market? Historically a balanced market has a 6-month supply of homes for sale in which there are enough homes available for active buyers. The most recent report (Jan.) from The National Assoc. of Realtors (NAR) shows the US inventory at just a 3-month supply. NH has about a month’s supply but at least new listings are up 26% YTD thru Feb. compared to 2023. As a result of the low level of housing supply, properties sell quickly and for much higher prices. Currently there are only 975 homes for sale in the whole state of NH. Sellers are in prime position to best negotiate price and terms favorable to them. The median sales price in NH (thru 2/2024) is $460,000, up 9.5% for the same time frame last year. Will it last? Looking at the predictions of 7 home price forecasters, they are predicting, on average, a price appreciation of 3.2% for 2024.
If you are considering selling, contact me to find out why this is the ultimate time to be a seller!
Donna ForestM: 603-731-5151donna@donnaforest.com Follow her on Facebook |
If you are thinking about selling in the next few months, you can increase the value and desirability of your house by making upgrades and changes now. Here are a few proven strategies to help get you started.
- Decluttering and cleaning are two of the most important and cost-effective ways to increase value. If you do nothing else, do this!
- Kitchen and baths sell the house. Consider replacing dated light fixtures, adding a new bathroom vanity, changing out old appliances for stainless steel, updating cabinetry hardware, etc.
- First impressions count. The landscaping & exterior appearance should be attractive and welcoming.
- A simple and worthwhile improvement is to freshly paint rooms using neutral colors and high-quality paint.
- Energy efficient upgrades like adding new windows and more insulation can help you net a higher sales price.
Contact me if you want more tips on how to increase buyer interest and resale value of your home.
Donna ForestM: 603-731-5151donna@donnaforest.com Follow her on Facebook |
It’s Still a Seller’s Market
By: Donna Forest, Broker Associate
If you are in the market looking to buy this year, you’ve probably noticed the lack of homes for sale. Case in point, there are only 9 houses for sale in the combined towns of New London, Newbury and Sunapee – and 3 are to be built (as of 4/19). New listings in the state of NH are down almost 20% compared to the first 3 months in 2022. When the supply of homes for sale are so low it creates increased competition among purchasers and keeps upward pressure on prices. And houses tend to go under contract very quickly once they hit the market. Not unsurprisingly, sales thru March in NH are down 19.7% yet the median sales price is up 3.6% to $430,000. Sales in the 3 combined towns are down 26% compared to 2022 and the median sales price is up 8.5% to $558,250.* So, should you wait to buy until prices come down? Data shows prices are increasing in much of the country and experts project home prices will rise steadily and return to more normal levels of appreciation after this year. Whether buying or selling, contact me for the latest insights into our local market.
* Figures are based on information from the Northern New England Real Estate Network, Inc. for the period 1/1/ - 3/31/22 and 1/1/-3/31/23
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News * News* News
Now is the Time to List Your Home
According to the National Association of REALTORS, job growth and lower home prices resulted in increased contract signings in all four major US regions for two consecutive months (Dec, Jan).
New England contract signings are up 6%.
January was the largest month-to-month gain since June 2020.
This tells us: Now is a great time to list your home.
Here’s why: The inventory remains low – so listing prices are stably high. Stable mortgage rates are inviting more buyers to enter the market.
You will need a savvy real estate agent to set an attractive sale price. And buyers need a savvy real estate agent to find the perfect budget-friendly home.
Call The BHG Milestone Team today and find out why we're The Best Team in Town!
Photo courtesy of Keeping Current Matters