Sonia Rollins
EXIT Premier Real Estate | 781-454-6043 | [email protected]


Posted by Sonia Rollins on 1/26/2020

If you've lived in your home for more than a couple years, chances are you've grown rather attached to it. Whether you're selling your house because your family has outgrown it or your company has transferred you to another location, you're probably attaching a lot of sentimental value to the price tag. Unfortunately, sentimental value does not translate into dollars and cents in today's real estate market.

The emotions of prospective buyers will often play a role in their decision to make on offer on your house, but they're probably not going to pay more than the market value for your property -- unless there's a bidding war situation going on. One of the best ways to determine a fair and reasonable asking price for your home is to have it appraised by an experienced real estate agent. Their appraisal will be based on objective data, such as the selling price of comparable homes in your area. The location and condition of your home will have a bearing on pricing your home effectively, as will the prevailing market conditions and other factors. Although online estimates can sometimes give you a ballpark figure of what your house may be worth, a local appraisal is more accurate

A common misconception among homeowners is that a $10,000 home improvement expenditure should justify a $10,000 increase in the selling price of a home. Although that concept may seem logical, it unfortunately doesn't work that way in the real estate market. An updated kitchen, bathroom, or roof may make your house more appealing to prospective buyers and help it sell faster, but it probably won't have a dollar-for-dollar impact on the price buyers would be willing to pay. Since each selling situation is unique, however, your local real estate agent is the best person to consult regarding a fair asking price for your home.

Avoiding Home Seller Mistakes

In addition to overpricing their home, another mistake home sellers make involves three related activities: decorating, staging, and attempting to create curb appeal. In spite of a homeowner's best intentions, their decorating and home staging ideas may clash with those of the house-buying public. When you attempt to tackle home staging on your own, several things could go wrong.

  • You could either spend too much or too little on making repairs and sprucing up your home's appearance.
  • You could spend your time and money upgrading inconsequential features of your home, while overlooking the real important changes that need to be made.
In either case, you're missing the mark when it comes to maximizing the marketability of your home. That's why it pays to take advantage of the knowledge, expertise, and objectivity of a professional real estate agent. Their recommendations on pricing and home staging will be based on experience, best practices, objective criteria, and current market conditions.





Posted by Sonia Rollins on 12/10/2017

Is now the right time to lower the asking price for your residence? If you've studied the housing market closely, set an aggressive price for your home and are still struggling to generate interest in your residence, the answer to this question may be a resounding "Yes."

Ultimately, there are many reasons why you may want to consider lowering the asking price for your house, including:

1. It has been many weeks or months since the last home showing.

Although your home listing initially may have stirred up plenty of interest, homebuyers have shied away from your residence over the past few weeks or months. Thus, there may be no time like the present to lower your house's asking price to widen your net of prospective homebuyers.

Reducing your house's asking price by even a few thousand dollars may help you generate interest in your residence. And in the days following a price drop, you may notice a significant increase in the number of requests for home showings as well.

2. Your home asking price no longer corresponds to the current real estate market's conditions.

A seller's market can quickly morph into a buyer's market. As such, you should evaluate the real estate sector regularly to ensure your home asking price corresponds to the current housing market's conditions.

Take a look at available houses that are similar to your own you'll be happy you did. This housing market data can help you determine if your house is priced appropriately based on the competition.

Also, examine the prices of recently sold houses in your city or town. That way, you can see how long these residences were available before they sold, find out whether you're operating in a buyer's or seller's market and plan accordingly.

3. You need to sell your house as soon as possible.

If you face a time crunch to sell your home, you should establish an aggressive price for your residence from the get-go. However, if you fail to generate substantial interest in your residence, you may need to act fast to lower your home asking price to meet your deadline.

For those who want to avoid the possibility of lowering a house's asking price, it often pays to work with a real estate agent. This housing market professional can help you establish a fair, competitive price for your residence, one that should help you stir up significant interest in your home.

In addition, a real estate agent will work with you throughout the home selling process. He or she will set up home showings, host open houses and negotiate with homebuyers on your behalf. Perhaps best of all, a real estate agent is happy to respond to your home selling questions and ensure you can make informed home selling decisions.

Before you lower your home asking price, consult with a real estate agent. By doing so, you can get the expert home selling advice that you need to determine whether to wait out the current housing market or reduce the price of your residence.







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