It’s the price. No big surprise, but here’s the proof that pricing your home right will get it sold for the best price in the Seattle-eastside real estate market. The price you choose to ask for your home and how long you are at the original asking price will make a difference in how much you actually sell your home for and how long it will take.
How many times have you heard these comments?
- I don’t want to give my house away.
- My neighbor’s home sold so fast, it must have been underpriced.
There’s a common misconception that homes that sell quickly must have been priced too low. Yet, when you look at the chart above, the homes that sold quickly actually sold closer to their original asking price than the homes that stayed on the market longer.
Longer market time = a lower sales price and less money in your pocket.
What have you seen out in the real estate market with the pricing of homes vs. the sales price?
Since I’ve been busy telling people now is the time to sell a home if planning to sell in 2010, I thought I’d bring up a friendly reminder about some of the top things to do around your home before you go on the market. This is by no means a complete list, but it focuses on some of the most obvious structural items both buyers and building inspectors will notice about a home. This list also is separate from a list of strictly cosmetic suggestions such as updating carpet and flooring or painting walls. Many blog posts could be written about the items you should check when preparing your home for sale, but this list is a good start.
Here’s my top ten list, with an added #11 thrown in because I’m dealing with it right now:
1. The Condition of roof – Does it need to be cleaned? Repaired? Replaced?
3. Deck material rotted? Railings, steps, deck boards, joists, beams, etc.?
4. Electrical – Non professional work? Panel breakers match wire size? Non grounded outlets?
5. Handrails Are they secured to wall? Are they installed where they should be?
6. Shower tile grout and sealant conditions?
7. Condition of the bathroom floors at tub/shower and toilet?
8. Smoke detectors? Are they working? Do they need batteries?
9. Furnace Has the furnace been serviced recently? Does the filter need cleaning or replacement?
10. Crawl space? Is there moisture in crawl space? Is a vapor barrier installed? Ventilation adequate? Wood scraps or debris which needs to be removed?
11. My new personal favorite is to check your chimney and fireplace. Hire a professional if you have not had your chimney checked or serviced. Make sure it is safe to use. (I’m having some fun doing this now and will fill you in at a later date as to what is involved.)
What other things should be checked out before a home goes on the market?