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Tag Archives: list price

Let’s Sell Your Home this Spring

25 Wednesday Feb 2015

Posted by Mary Anne Walser, REALTOR in real estate

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home buyer, home selling, homeowner, inventory, list price, market, real estate, realtor, sellers, spring cleaning

We have had one of our busiest winters ever in the Atlanta real estate market.  With prices rising, many sellers realized that they again had equity in their homes and were ABLE to sell.  So those who had waited through the depressed housing years (since 2008) were suddenly in a position to be able to move.  Buyers were eager to purchase before home prices rose even more.   As a result, we had record home sales.  Demand in many areas of Atlanta exceed inventory, so some sellers who didn’t want to turn down  a great offer for their home even moved into a rental when they couldn’t find the “right” place to move into.  So there’s much pent up demand for homes to purchase this Spring.

If you are thinking of selling your home, there’s no time like the present.  The sooner the better, for many sellers wait until the Spring to sell – and as the season proceeds, you’ll have more and more competition.  We have a lot of “shadow inventory” poised to hit the market in late Spring and Summer; you’d like to avoid as much of that extra competition as you can.

Even with the buyer demand high, no one wants to overpay for a home so pricing is KEY.  We see competing offers for some homes, but those that are priced too high are receiving no offers at all and actually eventually net LESS.  The longer a home sits on the market, the less it is worth in the eyes of a buyer.  We can work with you to determine the ideal initial list price to bring you the highest return.

To prepare for listing, remember that first impressions are key.  A buyer will often decide from the street that they love or dislike a particular home; in fact, they will often tell us to “keep driving” if they don’t like the curb appeal.  So trim your trees and bushes and pressure wash your driveway, front walk, house, and deck or patio.  Clean and even repaint your front door and make sure the key works easily.  Have a nice, fresh welcome mat.  Buyers will linger with us at the front door while we open the lockbox for access, and they have extra time to notice these details.

Do your Spring cleaning NOW if you haven’t already.  And declutter, declutter, declutter.  Go through all your furniture, decorative items, and closets with a ruthless eye.  We have stagers and declutterers who help us prepare your home for sale – but start with the initial sweep immediately.  The savvy seller will remove half of all items in a closet and have nothing on the floor, for instance.  It sounds drastic, but it works.  Pack up everything you want to keep and take it to a storage unit or call in a company that will deliver a storage pod and then take it offsite for you.

Repaint to freshen up where needed; if you have any carpeting, get it cleaned.  If you know that a home inspector is going to find anything that needs to be fixed – go ahead and fix it now.  We have great contractor references if you need them.  It makes more sense to do the repairs first – a buyer may end up asking you to spend $300 on a repair you can do now for $100.

CALL US NOW if you are thinking of selling your home.  We can help you through the preparations and price your home correctly to sell at top dollar – it’s what we do!  And we’d love to hear from you.

 

Mary Anne Walser is a licensed attorney and full-time REALTOR, serving buyers and sellers in all areas of Metro Atlanta. Her knowledge of residential real estate and her legal expertise allow her to offer great value to her clients. Mary Anne serves on the Committee that drafts and reviews the contracts utilized by all REALTORS in the State of Georgia. In addition, she is a member of the Atlanta Board of Realtors, the Georgia Association of Realtors, the State Bar of Georgia and the Georgia Association of Women Lawyers. Contact Mary Anne at 404-277-3527, or via email: maryannesellshomes@gmail.com.

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HIRING AN AGENT

24 Wednesday Jul 2013

Posted by Mary Anne Walser, REALTOR in real estate

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agent, atlanta, buy, buyer, closing, home selling, housing, list price, listing, market report, move, neighborhood, real estate, realtor, sellers, selling, selling a home

Image

So you have decided that it is time to sell your home and move on to a smaller home, a larger home, or just greener pastures.  How do you find an agent?  You might ask your friends and colleagues who they recommend; you might decide to hire the “neighborhood expert”; or you might already know a great agent you would like to use.

If you are not certain who you want to use, it is time to call in several agents, meet with them and have them look at your home, and then decide who you are most comfortable with.  There are many factors to consider and questions to ask:

  • Is the Realtor a FULL TIME agent?  You do not want to hire anyone who only does real estate part time – they cannot give your home the attention it deserves.
  • Is the Realtor with a reputable company, and are they well connected/well liked among other Realtors?
  • Does the Realtor have an assistant to help with marketing efforts so that if the Realtor is very busy someone is still marketing your home full time?

Hire who you are most comfortable with, not necessarily the agent who gives you the highest suggested list price.  Some agents will give you an inflated price to entice you to list with them.  Overpricing your home can be deadly, since the longer a home sits on the market the less desirable it is to buyers and the less you will ultimately get for the home.  Go for the agent who is the most knowledgeable and realistic about your home’s value over the one who gives you a high price just to get you to sign the agreement.

Ask what services the agent offers as part of the listing – among the things a great agent may offer are professional photography, staging services, full color professional brochures, agent caravans, and videography.  Let the agent know what you expect from them – some sellers like to be contacted by the agent as much as possible, while others just want a phone call when an offer comes in.  Let your agent know what works best for you.

And as the listing moves forward, let the agent know whenever you are unhappy about anything and give them the opportunity to rectify it.  Most of us will bend over backwards to make a seller happy, and to sell the home.

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How do you know when the PRICE IS RIGHT?

06 Wednesday Feb 2013

Posted by Mary Anne Walser, REALTOR in real estate

≈ 1 Comment

Tags

agent, buying, comparable market analysis, dollar, home, house, Just Listed, list price, market, mortgage, property, real estate, right price, selling

House Price2

What’s the “right price” when you’re selling your home?  The longer your home sits on the market the less you’ll ultimately get for it, so you want to sell fast at top dollar; everyone does (and should).  How can we do that?  What’s the ultimate list price to accomplish your objective?  It’s a little trickier in the current environment, where we are low on housing inventory and it’s turning into a seller’s market.  It’s tempting to overprice.  But the key is to determine what price will draw those eager buyers and still get you top dollar for your home.  That’s where we step in.

First, remember that the list price should not be based on what you paid for the property, what you need to pay off the mortgage or what the price to rebuild the home would be today. What truly sets the right price is what a willing buyer is willing to pay RIGHT NOW and quickly, afraid that if they don’t buy it right away someone else will.  So the right list price takes into account a number of factors, including what other homes are out there that you’ll be competing with, and what’s sold recently in your neighborhood.

We do a comparable market analysis (CMA) for your property to help find this value. The CMA will compare your property to similar properties in your area that have sold in the past 6 months. This analysis takes in to consideration size, condition and improvements. Then we take a look at what is currently out there – the homes you are competing against.  Are you the best at the price you are asking?  That is what we are striving for.  You can see from the chart below that CONDITION is as much a factor as pricing.  You want to be the home that’s in the best condition at the lowest price – and that’s how you get “chosen” by a buyer.

Chart 1 - In market

In order to steal buyers’ attention from all the other listings you have to be better than the rest at the price you’ve chosen.  Listing your property as little as 10% above your determined market value will mean that that you will lose many potential buyers (according to the chart below, seventy percent!) who won’t even see your home because it’s overpriced.

Chart 2 - Triangle

The third and last step to price your property “right” is to take FULL advantage of the first 30 days that your property is on the market. Do not fall into the trap of “trying out” an above market price for a few days just to “see if it sells”. Many sellers make this mistake and end up selling below market value. Your listing attracts the most buyers when it first hits the market. All buyers are on the lookout for “Just Listed” properties every day. If your property is listed above market value from the start, it will be missed by all those potential buyers. After even the second week of listing, property showings begin to drop.  So if you don’t have ANY showings the first two weeks, you are clearly overpriced and should drop immediately – it is already almost too late!

Chart 3 - bar graph

If you are ready to sell fast and get a great deal on your property call me today.  I will provide you with a thorough CMA specialized for your unique property so we can determine the “right” price and sell fast.

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Mary Anne Walser, Realtor & Licensed Attorney

Keller Williams Realty
3650 Habersham Rd.
Atlanta, GA 30305
404-277-3527

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