What is my Home Really Worth?
There are a number of methods to determine the value of your home. I have listed the top three below to review.
Appraisals
You can hie a professional appraiser. A qualified appraiser will prepare a report based on a visual inspection of the property, using recent sales of similar properties, current market conditions and certain features of the property. The expense ranges from 350.00 to 800.00 depending on the size and location of the property. The value of a property can vary depending on a number of factors. A few factors include, age of home, condition of property, location of property, square footage, recent home improvements and curb appeal.
Tax Assessments
A local tax assessor will value your property based on other sales in your area. The local jurisdiction will use tax assessments to determine your yearly property tax. Historically, tax assessments are not a tried and true value and can be higher or lower than the true market value of the property
Comparable
Multiple Listing Services are private databases that are created, maintained and paid for by real estate professionals to help their clients buy and sell property. A comparative market analysis can be generated to determine the value of your home. The value is based on certain criteria your home possesses and is compared to other homes in your immediate area that have common characteristics. Generally, comparable sales are used that have sold in the past 3 to 6 months.
How Do I Get Top Dollar?
Selling your home is a big decision.
In order to receive the highest price for your home, the property needs to be in pristine condition. Most buyers want the home to be MOVE-IN ready condition. Basically, they want to place the groceries on the counter and get back to work.
It can take time, effort and a substantial investment. You will need to spend money on renovations, marketing, staging and professional photos to show your home in the best light. In addition, you will need to keep your home clean, decluttered and be ready for the potential hassle of surprise visitors wanting to view the property.
Realtors can play a role to assist you in preparing your house for sale but be prepared to pay high commissions at closing. Realtors charge between 5 - 6 % commission which can cost you thousands of dollars. In addition, you will have closing costs which can be very expensive in this area.
Clean the Whole House
After the de-clutter process has been completed, make sure that your home sparkles. Clean windows, floors, carpets, appliances. The act of cleaning your home can literally be the make or break from someone making an offer. Studies have shown that buyer make a buying decision within one minute of entering a home for sale. If the house is cluttered and dirty, the decision not to buy has been made within the first minute of the showing. In addition to the initial cleaning, it is important to maintain the cleanliness of the home throughout the selling timeframe which can be 60-120 days.
Renovate Home
Kitchen and baths sell houses. To maximize value, kitchen and baths may require updating. Updates include new cabinetry, countertops, appliances, vanities, lighting and tile. It has been proven that updating kitchen and baths allow sellers to command higher prices for their property. Other updates include, flooring, interior and exterior painting and professional landscaping. All systems in house including HVAC should be operating and in good working order. Other items often overlooked but are often discovered in home inspections include, wet basements, old roofs and faulty plumbing and electrical systems.
Declutter Everywhere
It is amazing how much stuff we accumulate in our homes. It seems like the larger the home, the more stuff piles up. De-cluttering can be time consuming but is necessary to highlight the home features. Focus on closets, shelves, playrooms, garages and basements. New buyers want a sense of space and light so pack up items and donate anything that is not needed in the new home. The less stuff you have in closets, shelves, countertops the larger the home feels. You want new buyer to imagine living in the space so decluttering can take time in effort, it will be worth it in the end.
Stage your Home
As I mentioned before, most buyers begin to search for a home to buy online. Staging your home will help your home stand out and capture the interest of interested buyers. A good stager will be able to create a flow that is beneficial to potential buyers. When buyers can see how space is used, they are less likely to focus on a small floor plan or a different layout. It has been found, that staging can increase the sale price and create more offers on a property.
Take Professional Photos
If you can afford the expense, hire a professional photographer to take pictures of your home. Most buyers search online for houses so having bright well taken photos is extremely important to get traffic thru your home. If you cannot afford a professional, take time and make sure your photos represent the most spacious view of each room. Take time to edit and crop your photos to keep the pet or wandering child out of the pictures. This can take time but will be invaluable if you want to maximize the sale price. In some cases, realtors can assist you with photos but often they are not professional and only devalue the listing with dark, unprofessional photos of your home. In addition to photos, you might consider shooting a 3-D tour of your home so prospective buyers can walk the property before they arrive. This takes time and effort but can add value to your listing
Sell your Home with Less Effort
Fortunately, there are alternatives to remove all this work and still sell your home for the highest and best price. Profitable Property can buy your home AS-IS for ALL CASH!
Benefits of selling your home off-market include speedier closing times and fewer financial considerations. You’ll be able to avoid real estate commissions, closing costs, and pricey repairs if you go this route.
You do not need to clean, take pictures or declutter. Just take what you want and leave the rest.
If our home needs work or if you want to sell faster, Profitable Property can offer you an alternative solution. We buy AS_IS so we are not concerned with needed renovations or amount of clutter in your home. We can close in as little as 10 days or on your preferred timeline and offer you up to $2500.00 to offset moving expenses.
I can visit your home, evaluate fair value home, and make you a CASH OFFER right on the spot.
Contact Profitable Property today if you would like to consider this option.