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”→
If you’re thinking about selling your home or holding onto it and becoming a landlord, you’re not alone. Whether to keep a home as a rental investment or to sell it is a common question. Oftentimes, the decision to sell or rent the home comes down to finances. If you’re planning on buying a new home your lender may require that you sell your home. Here’s what homeowners who are thinking about selling or renting need to know and what they need to consider.
Having your home prepared for home your home inspections will make the process go more smoothly and prevent some easily avoidable delays. When an inspector is unable to inspect certain items due to lack of access the inspector may need to come back for another visit, for example. Here’s a list of common items that will help you to have your home ready . . .
There’s a lot to balance when buying and selling a home at the same time. And, there are plenty of things to take into consideration. The most important piece of the puzzle will be to find out if you’ll need to sell your current home in order to get a mortgage for your new home. Many homeowners won’t qualify for their new loan until their current home is sold. This often means that the sale of the current home and the purchase of the new home have to happen on the same day.
Many who are looking for a new home and currently own a home begin the process by searching for their next home before listing the current home for sale. This approach often leads to weeks or months of searching for the right home only to find out that they’re not ready to make a serious offer when that perfect home goes on the market. Few sellers will consider an offer that’s contingent on the sale of a home that isn’t on the market yet. They simply don’t know if that home will sell and, if it doesn’t, the sellers will have taken their home off the market and missed other opportunities to sell.