Sellers

Important Things Every Home Seller Should Know

Helping You Choose the Right Time to Sell Your Home

Times are changing and you’re thinking about moving the family into a new home. But before you start searching for your next dream home, Salt Pond Realty LLC can help you figure out when you’re going to sell your existing home.

The decision is a complex one, especially considering the unpredictable economic environment you’re living in. And while there’s no magic formula for determining the best time to sell a home, there are several factors you should consider.

The Wrong Time to Sell

The Best Season for Selling

Conventional wisdom dictates that spring is the best time to sell a home. In spring, the holidays have passed, the new school year is still a while away, and gardens and other outdoor spaces tend to look their best. And while spring is the season that sees the largest amount of buyers, it’s also the season when inventories are highest. This means lots of competition, so if you’re going to sell in spring, you really need to get your property to stand out with effective marketing and staging.

The Best Day for Selling

According to research, Thursday is the best day of the week to list your home for sale. By listing your home for sale on a Thursday, you can make it available immediately for weekend showings. Come Saturday - the busiest day for real estate - your home will have only been on sale for two days, which is great for attracting full-price offers. In general, the shorter the amount of time your home remains on the market, the higher the offer you’ll receive.

Four Questions to Ask Before Selling Your Home

Selling your home is a big financial and emotional task, which requires lots of planning. So before you decide to put your home on the market, here are four questions to consider.

What Is My Home Worth?

Several factors go into determining your home’s market value. These include the condition of the property, square footage, location, amenities, as well as recent comparable property sales. For a snapshot of your home’s current value, you can enter your address into a free online value estimator tool.

Alternatively, you can look at a recent property tax bill to get your home’s tax assessed value, which is a percentage of your home’s fair market value. If you know your state’s assessment rate (which is usually between 80 and 90 percent), you can estimate fair market value by dividing your tax assessed value by that assessment rate.

How Can I sell at the Highest Price Possible?

There are several simple, low-cost things you can do to boost the value of your home. These include eliminating clutter, washing windows and walls, and installing higher wattage bulbs to create a brighter environment. Larger projects, like adding bedrooms and renovating kitchens and bathrooms, typically yield more substantial increases in the sales price. Staging your home, which helps paint a picture for how buyers will use their new space, can also add value.

How Long Will My Home Be on the Market?

The time your home spends on the market depends on several factors, including location, how competitively your home is priced, and how aggressively your home is marketed. Statistics show that if a home is properly priced, an offer should come in within the first 12 showings.

If you want to speed up the sales process, don’t underestimate the value of staging. Research shows that well-staged homes can sell up to 32 percent faster than homes that aren’t staged.