If you plan to sell your home you may be wondering how to sell your home ‘as-is’ and if that’s even possible to do. The answer is that it really depends on the situation. The most common situation is a home that’s in need of major repairs or a complete remodel. This type of home is commonly sold ‘as-is’ because the buyers for these homes plan to gut the home down to studs and rebuild. The more common scenario is the typical homeowner who wants to sell ‘as-is’ because they don’t want to negotiate repairs or make any repairs to the home. Oftentimes, these sellers simply want to avoid getting a list of unreasonable demands from a buyer after inspections or from having their sale fall through during inspections. It’s a totally valid concern. It’s less common to be able to sell a typical owner-occupied home ‘as-is’ but there are some strategies that can make it easier which we’ll take a look at below.
Do you really need an Open House when selling your home? If we lived in a world without the internet then home buyers may have trouble finding homes for sale. They’d ask their friends and neighbors if they knew anyone who was selling a house, they’d go to a local real estate office and ask which homes are for sale, or they’d drive around on Sunday afternoons looking for “Open House” signs in hopes of finding a home that matched their needs and budget.
We don’t live in that world. Every potential home buyer is looking online for their next home. Most get automatic listing alerts from 2-3 sites like Zillow and Realtor.com. The most serious buyers are also getting updates of new listings from their real estate agent. It’s pretty much impossible to keep a home a secret.
There’s nothing more daunting than not knowing where to start, especially when it comes to big house projects… right before you plan to put your home on the market. Tackling the long to-do list of cleaning the house, purging the items you don’t need, and organizing the ones that you do can seem unmanageable, especially on top of the whole selling your home thing but it doesn’t have to be.
Take a deep breath (really, do it right now) and think about the end goal of selling your home. Then, grab a pen and paper (or use your phone) and start making a list of every task. The satisfaction that comes with crossing something off your list is like no other, and the more accomplished you feel, the more ready you’ll be to tackle the next item on the list.
Are you thinking about putting your home on the market but you’re not sure where to start? Here are inexpensive things that you can start on today to help you get your home ready to sell.
Make the Right Decisions
Deciding where to start when getting your home ready to sell can be overwhelming. And if you watch a lot of HGTV you might be under the impression that you’ll need to remodel your house from top to bottom to sell it. The reality is homes sell every day in every possible condition, from homes that look like they could be featured in Architectural Digest to homes that haven’t been updated in 40 years and everything in between.
When deciding what to do to get your home ready to sell you’ll need to make good financial decisions. You wouldn’t want to make a $5,000 upgrade to your home if it only increases the value by $2,000, for example. You’ll also need to factor in how much time you have to get your home ready and your budget. A short window to prepare may mean that you can only tackle the basics. If you only have a week to get your home ready to sell you may only be able to do a little bit of organizing and cleaning given the time restraints.
Homeowners face a lot of unknowns when it’s time to sell their home so there are a lot of questions. You’ll need to know how much your home is worth, how much it will cost to sell your home, how to get your home ready to sell, how to reach buyers, what happens after a buyer’s offer is accepted, and whether you should list your home for sale first or find your next home first. Here you’ll find the answers to 9 of the most common questions that I hear from home sellers. This is Part I of a three part series.
This is Part II of a three part series. This section covers getting your home ready to sell, leaving negotiation room in the asking price, and whether or not you’ll need to have an Open House. Part I of this series covers determining your home’s value, online estimates, and the costs of selling a home. Read Part I. Part III of this series covers what to do if your house doesn’t sell, what happens after you’ve accepted a buyer’s offer, and what you’ll need to know if you’re planning on buying a new home at the same time that you’re selling your current home. Read Part III.
This is Part III of a three part series. This section covers what to do if your home doesn’t sell, what to expect after you’ve accepted a buyer’s offer, and timing the sale of your current home with the purchase of your next home.
1. You Don’t Get a Second Chance to Make a First Impression
Photos will be the first thing potential buyers see. Since home buyers are shopping for homes online, and getting alerts of new listings that match their criteria, the first time any buyer or agent will get a glimpse of your home will be the listing photos. Most people are perusing listings while they’re doing other things like standing in line at the store, riding the train to work, or watching TV. People will typically make a decision about whether or not they like a house within just a few seconds, often after seeing only 3-5 photos. If the photos don’t catch their attention they’ll simply swipe the screen and move on to the next listing. A professional photographer who understands lighting, angles, and composition will ensure that your home looks it’s best in the photos.
In January 2019, 38 homes sold in Roxborough and Manayunk. The same number of homes sold in January of 2018. We should expect to see a similar number of homes sold in February. In March, we can expect to see the number of homes sold double which makes February a very good month to put a home on the market since sold homes are an indication of buyer activity within the month or two before those sales are completed.
Home Values Are Up
The median sales price of re-sale homes sold in January 2019 is $238,250 compared to a median sales price of $225,000 in January of 2018, a 6% increase over the same time last year. The number of active listings decreased significantly from 251 active listings in January 2018 to 143 active listings in January 2019. These are indications that we can expect to be in a seller’s market over the next several months if things continue on the same path. Last Spring we saw a moderate seller’s market and the indications are that this coming Spring will be a strong seller’s market.
Sid and Joe were getting ready to sell their home near Gorgas Park in Roxborough and were looking for a Realtor® to help them through the process. In our first conversation Sid had told me that she had seen my video on the Upper Roxborough Reservoir Preserve and reached out to me because they wanted to work with someone who knows and cares about the neighborhood and who does things like using video to help promote the neighborhood to the people who are most likely to love living in the area. Continue reading “Sid and Joe | Roxborough Home Sold”→
Jon Miller is a resident of the Roxborough-Manayunk area and a Realtor® with Compass Real Estate. Each week Jon puts together a list of the best local events and activities which you can find here.
Center City | 1601 Market Street, 19th Floor, Philadelphia, PA 19103| O: 267.435.8015
Northwest Philadelphia | 8236 Germantown Ave, Philadelphia, PA 19118 | O: 267.380.5813
Jon Miller is a real estate licensee affiliated with Compass RE. Compass RE is a licensed real estate broker and abides by equal housing opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.