SPRING, IT'S CLOSER THEN YOU THINK “Oh the weather outside is frightful, But the fire is so delightful, And since we’ve no place to go, Let it Snow! Let it Snow! Let it snow!” Hey I know Christmas is over, but heck we live in New England and its January. If you are thinking about putting your home on the market in 2006, you may think that this is the wrong time to get things going. However, this is the ideal time and I’ll explain why you need to call me now to perform a Competitive Market Analysis (CMA) and develop a proper selling strategy.
There’s a lot that influences the Real Estate Market. Interest rates, unemployment rate and economy are but a few. Regardless of the external forces and conditions one thing will hold true and that is the spring real estate market will be active. And if you are thinking about selling your home spring is closer then you think. It will be those individuals that begin preparing now that will be the ones that maximize their sale price and profit. During presidential elections you often hear, “it’s all about the economy,” with selling your home its all about the location, selling strategy and the condition of your home. Of course the location is fixed, but selling strategy and condition of your home are variables.
With regards to the condition of your home, there are several things that a Seller can do to make their home more appealing. First, a good thorough cleaning and removal of clutter is important. A Buyer needs to visualize themselves as the homeowner and I can tell you that there’s no bigger turnoff then dirt and clutter.
Secondly, a fresh coat of paint can work wonders. I know those designer colors that you choose years ago are near and dear to your heart, but moving towards neutral colors actually widens the pool of potential buyers. Even if you have a large area to paint, if you are handy with a paint brush this could cost no more than $100 or so. If you are not handy, this may cost hundreds to maybe a few thousand dollars.
There are many other things that can be done. I have had Sellers add ceramic tile, refinish hardwood floors, change the carpets, and add granite counter tops just to name a few. Some Buyers will actually hire an Interior Decorator or contract someone to stage their home. The important thing here is the cost benefit ratio or the return on investment. Cost benefit ratio is the net present value of an investment divided by the investment's initial cost. For example, let’s say you add granite counter tops to your kitchen. If the initial cost was say $5,000 and all other things being equal, your home sold for an additional $10,000, the cost benefit ration would be 10,000 divide by 5,000 or simply 2. And that’s good. Cost benefit ratios above one mean that you made a profit on your initial investment, while a cost benefit ratio less than one mean you did not recoup your initial investment.
In summary, if you are thinking about selling your home this spring, give me a call. I will prepare a CMA and set a selling strategy tailored to your needs. Remember, it may take a month or more just to get your home in the proper selling condition. Anything from a good cleaning to adding granite counters; my goal is to maximize your selling price while minimizing the number of days that your home is on the market.
Whatever Nancy touches turns to sold. Call me at 508-389-1902 or by e-mail Nancy.Russell@NeMoves.com . Visit my website for more information www.nancyarussell.com |
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