Thursday, October 27, 2022

5 Ways To Sell your House for More Money

Article credit: Realtor.com 

5 Ways To Sell Your Home for More Money (Without Spending Big Bucks)

 By Kathleen Willcox

Aug 31, 2022Envelope

Real estate over the last two and a half years can really be summed up by one phrase: Epic seller’s market. We’ve seen countless people list their homes and receive multiple offers over asking—all while doing the bare minimum to fix up or market their property. Home sellers, we have to be honest here: you’ve had it made in the shade.

And while the current real estate market still technically favors sellers, experts see a balance on the horizon that’ll put buyers and sellers on more even ground. The result? Home sellers can no longer bank on getting a bunch of offers over asking.

So if you’re about to list your house and want to maximize your profits (who doesn’t?!) there are plenty of strategies you and your real estate agent can employ. Here’s how to get a higher price for your home—without spending a penny more than you initially planned for.

1. Price your home competitively

Few people are going to want to buy your house if the price per square foot is more than 10% higher than similar homes for sale in your neighborhood.

“You should base your home’s listing price on recent sales of comparable homes,” says Marty Ford, the president of BulletRoof Systems in Raleigh, NC. “If you overprice your home, you may miss out on potential buyers who are window shopping in your price range.”

Want to sell faster? You might also want to consider setting a price that’s lower than comparable homes.

“Many real estate brokers advise pricing the property slightly under market value,” says Tiffany Payne, chief marketing officer for a New York home repair company, iFlooded Restoration. “This can make active purchasers who are familiar with the market feel pressured to make a bid, and the likelihood of receiving multiple bids rises.”

2. Price your home strategically

It’s an old retail sales trick, but studies show that prices ending 9, 99, or 95 make things seem less expensive.

“Using a slightly lower price point—like $499,999—may create a sense of urgency and generate more interest in your home,” Ford says.

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Selling your home?

3. Market smart online

Are you putting your best foot forward online?

“The majority of purchasers will first view the home online before visiting it in person,” says Payne. “Buyers will assess whether your house is deserving of an in-person viewing with only a few mouse clicks.”

That’s why it’s important to only post top-notch, high-resolution videos and images online. Spend some money for professional photography to show off the house in the best possible ways—cellphone pictures generally look like casual (and poorly lit) snapshots.

4. Think like a buyer

Spend some extra time on the property details of your online listing. You want to spotlight the best parts of your home so you can attract a broad swath of buyers.

“You can get a lot of value from including key selling points in your listing, even if they’re not relevant to you,” says Martin Orefice, CEO of Rent To Own Labs in Orlando, FL. “A home that is close to a school, public transportation, park, or a major employer can be much more valuable. Likewise, make a point to mention if your home is pet-friendly because of a fenced-in backyard, or conducive to aging in place because it’s a single-story structure.”

5. Clear out clutter, closets, and personal touches

You’ve heard this before, but we can’t emphasize it enough: Minimize your presence in the home as much as possible so buyers can imagine themselves in the space when they tour it.

“It can be hard for new buyers to see themselves in a home if the space is overly personalized or full,” says Kristen Reyes, an interior designer and the CEO of Sey Interiors in Dallas.

Pack away bulky, personal, or unnecessary items. And focus on clearing out closets, she recommends—because buyers are sure to zero in on them.

“A great rule of thumb is to clear 75% of the items out of the closet,” Reyes says. This will show the utility of the closets while showing buyers how much space is in there.

“Depersonalize your home,” says Dennis Shirshikov, strategist at Awning.com, a real estate investment company based in California. “Take photos of your family down; put away all the personal decorations you think look so great. Buyers don’t want to feel like they are buying someone else’s home. Leave the bare minimum in terms of furniture to help them understand the space—but that’s it.”


Read the Article Online

https://www.realtor.com/advice/sell/how-to-sell-for-more-money-over-asking-price/?identityID=6197485&MID=2022_0920_NL_Multi_Article&RID=4271428462&cid=eml_promo_Marketing_PRSL_MultiArticleNL_cons.15717302_2022_0920_NL_Multi_Article-article1-blogs_sell

3rd Quarter 2022 MLS Statistics for Brevard County

 

Information derived from the Space Coast Association of Realtors


A quick recap of the Brevard County Residential Report for Q3 2022: 



·    Closed Sales are down -12.8% for Q3 2022 in which the number of units closed was 2,777 compared to 3,183 in Q3 2021, with a decrease in cash sales of -12.7%.

·    New Pending Sales are down -16.4% and New Listings are down -0.2%.

·    The Median Sales Price for Brevard Single Family homes is up 14.9% to $370,000 compared to a year ago, which was $321,995.

·    Months' Supply of Inventory is up 81.8% to 2.0 months, from 1.1 months in Q3 2021.

·    Traditional Sales are down -12.3% with a median sales price of $370,000.

·    Foreclosure/REO Sales are down -70.4% with 8 closed sales and a median sales price of $200,000.

·    Short Sale Closings are 0.0% with 2 closed sales and a median sales price of $189,400.

 

A quick recap of the Brevard County Townhouses/Condos for Q3 2022:

 

·    Closed Sales are down -18.4% for Q3 2022 in which the number of units closed was 669 compared to 820 in Q3 2021, with a decrease in cash sales of -12.0%.

·    New Pending Sales are down -22.2% and New Listings are down -9.9%.

·    Median Sales Price for Townhomes/Condos is up 16.1% to $290,000 compared to a year ago, which was $250,000.

·    Months' Supply of Inventory is up 35.7% to 1.9 months in Q3 2022 from 1.4 months in Q3 2021.

·    Traditional Sales are down -18.1% with a median sales price of $290,000.

·    Foreclosure/REO Sales are down -60.0% with a median sales price of $230,000 and 2 closed sales.

·    Short Sale Closings are down -100.0% with 0 closed sales in Q3 2022 and 1 closed sale in Q3 2021.


JoAnn Young


Florida Real Estate Broker

Young & Young Properties

321-243-4917

JoAnn@MyFLDreamHome.com 



Tuesday, August 23, 2022

MLS Statistics Brevard County, FL for July 2022

 

From the Space Coast Association  of Realtors:

A quick recap of the Brevard County Residential Report for July 2022:

 

·    Closed Sales are down -16.5% for July 2022 in which the number of units closed was 890 compared to 1,066 in July 2021, with a decrease in cash sales of -6.6%.

·    New Pending Sales are down -12.2% and New Listings are up 6.1%.

·    The Median Sales Price for Brevard Single Family homes is up 13.1% to $369,900 compared to a year ago, which was $327,032.

·    Months' Supply of Inventory is up 72.7% to 1.9 months, from 1.1 months in July 2021.

·    Traditional Sales are down -15.8% with a median sales price of $369,950.

·    Foreclosure/REO Sales are down -83.3% with 2 closed sales and a median sales price of $139,000.

·    Short Sale Closings are N/A with 1 closed sale and a median sales price of $148,800.

 

A quick recap of the Brevard County Townhouses/Condos for July 2022:

 

·    Closed Sales are down -22.7% for July 2022 in which the number of units closed was 204 compared to 264 in July 2021, with an decrease in cash sales of -29.3%.

·    New Pending Sales are down -5.4% and New Listings are up 2.0%.

·    Median Sales Price for Townhomes/Condos is up 26.0% to $302,450 compared to a year ago, which was $240,038.

·    Months' Supply of Inventory is up 28.6% to 1.8 months in July 2022 from 1.4 months in July 2021.

·    Traditional Sales are down -22.8% with a median sales price of $304,900.

·    Foreclosure/REO Sales are 0.0% with a median sales price of $265,00 and 1 closed sale.

·    Short Sale Closings are N/A with 0 closed sales in July 2022 and 0 closed sales in July 2021.


JoAnn Young

Young & Young Properties

321-243-4917

JoAnn@MyFLDreamHome.com