SELLING? WHERE DO YOU
BEGIN...
Generally, the first questions that come to mind are...
"What can I get for it?"
and "How fast will it sell?"
Property
values on and around Lake Gaston are always unique, and always
changing. For current and accurate valuation of
your property, you owe it to yourself to talk to a professional.
And not just any professional. You need a certified
appraiser (for an Appraisal) or an experienced Realtor®
for a CMA (Competitive Market Analysis) who works full time on Lake Gaston.
The first choice costs money, but the second does not.
Knowing what
your neighbor's house sold for is in no way indicative of fair market value for
your property, especially on Lake Gaston. The Appraiser's market
value (appraisal) is based on history... and the average of what three other buyers have
paid for a property similar to yours within the past 6 months or so.
The Appraisal and CMA should also reflect those
sales of like properties, and include such
factors as neighborhood, location and amenities, type, size & quality of construction and improvements,
age, replacement costs, characteristics of lot, etc. If waterfront, it
will also consider the body of water, view, water depth, amount of usable shoreline, etc.
This foundation for the Market Analysis assures that the buyer's financing will
not eventually be declined because the appraised value was less than the
contracted selling
price.
Because
of these factors and because of increased buyer awareness through technology and
the internet, it is important for you, the seller to price your property
correctly IF you want sell and close in a reasonable amount
of time.
Market
values are NOT dictated by what you have invested in the
home (after all... it could have been given to you!), nor by what you need
to receive from the property (buyer's don't care about your child's college
fund!) These factors should not be the driving force when determining
a sales price. What should be the major factor is the current
market's condition... supply vs. demand... and especially your competition!
In the
Lake Gaston market, the greatest exposure by far of your property to potential
buyers comes from Realtor® showings. And professional agents quickly learn if
a property is listed at an excessively inflated price. Through comparison
shopping, it doesn't take the Buyers long either to understand the market, and
it's much harder to encourage a reasonable offer on an unreasonably priced
property.
In this
ever-changing market, valuing a property is certainly not a precise science.
There are other factors that play into the pricing
decision... the competition. It is my job, my profession as a Realtor®...
to assist you, the seller, with determining value and price based on my experience and
knowledge of listing and selling Lake Gaston area real estate. I will also
provide you with suggestions and recommendations for making your property more
appealing than your competition.
Visit the
"Getting Ready" and "Shore Appeal" Links for other reasons why properties DO sell
quickly.
Visit
this link for excellent ideas.
Getting your house ready to sell
AND...
here
are some reasons why properties do
NOT
sell
as quickly as we might like...
"LOCATION,
LOCATION, LOCATION:"
Let's be honest.
maybe... just maybe...
the property doesn't pass "the
test" because
it is not in a location (or on a lot) that is considered desirable
by most buyers. For waterfront property on Lake Gaston, it is usually because the property lacks a
nice water view... or because the lot is too steep for the kids or grandparents,
or because there is no possibility of constructing a pier, boathouse, the
neighborhood is a bit run down, etc..
If so, these "location issues" could present a real challenge in
holding out for a higher price, especially if there is nothing you can do to change those
conditions... (or is there?). Have no
fear... there IS a buyer for your property... if it's priced right.
CONDITION:
About
half of the Lake Gaston properties are purchased as vacation homes, and a
majority of the rest are purchased as retirement homes. The
"weekenders" and the retirees just don't have the time, energy or resources to
"work" on a property as soon as they move in (unless, of course, the price is
right). Does your home need a "freshening up"? Will $1,000
you spend
today return $5,000 next month?
FIRST IMPRESSIONS:
There is
no second chance to make a good first impression! You might love the 100
collectibles and knick-knacks that Mom passed down... or the dog's favorite lounge
chair... but your Buyer won't "relate." You will have to pack it all
up anyway when an offer comes in... so why not now? Declutter and
Depersonalize!
AVAILABILITY:
Having your house on the market and always "ready" to show is no fun to be
sure... but if you
opt for convenience and only allow your house to be shown during "this time or
that"... you may eliminate a fair percent of potential buyers.
It's safe to assume
that a buyer has to see your house before they bring you an offer.
The Lake Gaston
real estate market does not have many "drive by" shoppers on their way home from
work. Some families come from hundreds of miles to spend just 1 afternoon
looking at yours and many other available houses.
Maybe next time... Realtors and
agents do their best, but with 350
miles of Lake Gaston shoreline, it can be difficult running from one end to the
other. If your property can't be shown until "this time or that"... your house might
have to be saved for the next time. Other "next
time" reasons include difficult showing demands, such as the listing agent must
be present at all showings, or seller will not allow a lockbox for easy or
"short notice" access by Realtors whose customers change their mind at the last
minute. That would be your loss... of a potential buyer.
TERMS:
Buying and
Selling homes certainly has an element of emotion. But basically, the
transaction is a business deal ... and a matter of reasonable compromise,
hopefully. For example, if you will not agree to possession until after your new
home is built, you would discourage an offer from another "new home owner" who wants
their new
home... now. Or let's say the home inspection was a surprise... and
you don't want to spend yet another $200 fixing a problem you didn't even know
existed. Let's weigh the pros and cons with our business hat on!
CURRENT
MARKET &
PRICE:
Last, but not least!
The asking price may be too high for the property... or for changing market conditions.
Unfortunately, I can't
control those... but YOU
can!
Now...
Here is THE reason why properties DO sell
quickly...
I can assure you that ALL of my associate Realtors® and my Agency will be hard
at work for YOU!
So let's talk and I'll tell you more... give me call or send an email.
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