Cynthia Owens - Five College REALTORS ®



Posted by Cynthia Owens on 10/8/2020

As you get ready to add your house to the real estate market, you likely will consider high and low initial asking prices. However, it is important to remember that no two residences are exactly alike. And much in the same vein, the initial asking price for your home may vary from that of a similar residence based on your house's condition, age and other factors.

Ultimately, a diligent home seller will allocate the necessary time and resources to determine a competitive initial asking price for his or her residence. This seller will be able to establish an initial home asking price that hits the mark with buyers, and as a result, stir up plenty of interest in his or her house.

Determining the ideal initial home asking price may seem tough at first. Fortunately, we're here to help you set a competitive price for your residence, regardless of the current housing market's conditions.

Now, let's take a look at three tips to help you establish the ideal initial asking price for your residence.

1. Assess Your Home

The present condition of your house may have a major impact on its value. Thus, you should perform a home inspection before you list your house to identify any underlying problems and address such issues.

A home inspection is generally requested by a buyer after a seller accepts an offer on a residence. Conversely, a seller who wants to go above and beyond the call of duty may perform an inspection to take a proactive approach to home improvement projects. This approach may help a seller mitigate potential home problems before they are discovered later in the home selling process.

Thanks to a home inspection, a seller can establish home improvement priorities. Then, this seller can perform myriad home improvements and move closer to maximizing the value of his or her residence.

2. Evaluate the Housing Market

Operating in a seller's market is far different from selling a house in a buyer's market. If you review the real estate market, you can gain the insights you need to establish a competitive price for your home.

Take a look at the prices of houses in your area that are similar to your own residence. This information will enable you to understand the price range for comparable houses in your city or town.

Also, evaluate the prices of recently sold residences in your area. This housing sector data will allow you to determine whether you are operating in a buyer's or seller's market.

3. Collaborate with a Real Estate Agent

A real estate agent knows the ins and outs of selling a home in any housing market. He or she can offer a wide assortment of housing market data. Perhaps most important, a real estate agent will make it simple for you to establish a competitive price for your residence and reap the benefits of a fast, profitable home selling experience.

Want to add your house to the real estate market? Use the aforementioned tips, and you should have no trouble setting a competitive initial asking price for your house.





Posted by Cynthia Owens on 9/17/2020

Getting the best price for your residence can be easy, particularly if you allocate the necessary time and resources to become a smart home seller.

What does it take to become a smart home seller? Here are three tips to help you do just that.

1. Analyze the Housing Market Closely

The housing market can be tricky to navigate, especially for a first-time home seller. Fortunately, those who spend some time reviewing the real estate sector closely can identify housing market patterns and trends and plan accordingly.

For example, a home seller should check out the prices of comparable houses in his or her area. This will enable a property seller to understand how his or her home stacks up against the competition.

A home seller also should review the prices of recently sold homes. This will allow a home seller to differentiate between a buyer's market and a seller's market.

2. Take a Look at Your Home – Both Inside and Out

When a homebuyer views your house for the first time, will your residence make a positive first impression? If you're unsure, you may want to conduct a home appraisal as soon as possible.

A home appraisal allows a property inspector to examine your residence both inside and out. That way, you can identify any potential problems with your residence and make home improvements as needed.

There are many quick, simple ways to enhance your property's appearance without breaking your budget too.

For example, mowing the front lawn and trimming the hedges can help you transform an ordinary home exterior into an exceptional one.

Or, if you want to upgrade your house's interior, eliminating clutter usually is a great idea. Removing unwanted items from your house will help you free up space so you can show off the true beauty of your residence's interior.

3. Work with a Real Estate Agent

No one should be forced to navigate the home selling journey alone. Lucky for you, real estate agents are available who can help you seamlessly add your home to the housing market and optimize your residence's value.

A real estate agent will meet with you to understand your home selling goals. Then, he or she will help you map out a home selling journey, one that guarantees you can generate plenty of interest in your residence as soon as it becomes available.

Usually, a real estate agent will help you get your home ready to add to the real estate market. He or she will offer honest, unbiased home improvement recommendations so you can upgrade your residence in no time at all.

Perhaps best of all, a real estate agent will set up home showings, promote your residence to homebuyers and negotiate with property buyers on your behalf. And if you ever have home selling concerns or questions, a real estate agent will be happy to respond to them instantly.

Take the guesswork out of selling your home – use the aforementioned tips, and you can become a smart home seller.





Posted by Cynthia Owens on 7/16/2020

As a home seller, receiving the first offer on your residence can be an exciting experience. However, the initial offer on your home may prove to be insufficient for a number of reasons, including:

1. The offer fails to meet your expectations.

Ideally, a home seller will allocate the necessary time and resources to fully analyze a house before adding it to the real estate market. This will enable a home seller to establish realistic expectations for his or her house and price it accordingly.

Conducting a home appraisal offers a great starting point for a home seller to determine the true value of a residence. This appraisal ensures a home inspector will examine a residence's interior and exterior. Then, the inspector will provide a report that details a house's strengths and weaknesses.

With a home appraisal report in hand, a home seller should have no trouble establishing a "fair" price for his or her residence. And if an initial offer falls short of this price, a home seller can politely decline the proposal and wait for additional offers.

2. The homebuyer has submitted a "lowball" proposal.

In some instances, a homebuyer may submit a "lowball" offer in the hopes of acquiring a terrific house at a budget-friendly price. If a home seller cannot differentiate between a reasonable offer and a lowball proposal, he or she risks missing out on an opportunity to optimize the value of a residence.

An informed home seller should examine the prices of available houses that are similar to his or her own. By doing so, this property seller can see how his or her residence stacks up against the competition and map out the home selling journey accordingly.

Moreover, an informed home seller will mow the front lawn, trim the hedges and do whatever it takes to enhance a house's curb appeal. This home seller likely understands the importance of making a positive first impression on homebuyers, and as a result, will perform assorted home exterior improvements to help reduce the risk of receiving a lowball initial offer.

3. The offer does not correspond to the current state of the housing market.

For a home seller, it is essential to work with a real estate agent who can provide full details about the current state of the housing market.

A real estate agent can help a home seller differentiate between a buyer's market and a seller's market. Plus, this housing market professional can provide honest, unbiased recommendations about whether a home seller should decline an initial offer on a home.

Many real estate agents are available in cities and towns nationwide, and these housing market experts are happy to help home sellers in any way they can. If you employ a real estate agent before you list your home, you can reap the benefits of unparalleled guidance at each stage of the home selling journey.

There is no reason to settle for a subpar initial offer on your residence. Instead, consider a first offer closely, and you can make an informed decision about whether to decline or accept it.





Posted by Cynthia Owens on 7/2/2020

If you receive an offer to purchase your house, determining how to proceed with this proposal sometimes can be difficult. Ultimately, a home seller needs to weigh the pros and cons of accepting an offer to purchase. And if the pros outweigh the cons, it probably is a good idea to accept the homebuying proposal.

When it comes to reviewing an offer to purchase, there are many reasons why a seller should accept this proposal, and these include:

1. An offer to purchase matches or exceeds a home seller's expectations.

If a home seller receives an offer to purchase at or above the initial asking price for his or her house, accepting the proposal likely is a no-brainer. In fact, a seller may want to provide an instant "Yes" to this offer so he or she can quickly move on to the next step of the property selling journey.

Of course, it helps to establish realistic home selling expectations before listing a residence. If a seller sets a competitive initial asking price that corresponds to his or her home selling expectations, then this individual may be better equipped than others to enjoy a seamless property selling experience.

2. An offer to purchase falls in line with the current housing market's conditions.

If you're selling a home in a buyer's market, you may pounce at the opportunity to accept any offer to purchase that comes your way. Comparatively, if you list your house in a seller's market, you may need to consider all of your options closely before you accept an offer to purchase.

As a home seller, you should evaluate the current state of the real estate market. If you allocate time and resources to learn about the housing market, you can gain real estate market insights to help you determine whether to accept an offer to purchase.

3. An offer to purchase enables a home seller to speed up the property selling process.

If you're operating on a tight home selling timeline, you may be more inclined than ever before to accept an offer to purchase, even if it falls below your initial expectations. Conversely, if you plan ahead for the home selling journey, you may reduce the risk of facing a time crunch to sell your house.

For home sellers, hiring a real estate agent is key. This housing market professional can help a seller prepare for the real estate market and ensure that a seller sets a competitive price for his or her house. Plus, a real estate agent will set up home showings and open house events to showcase a residence to prospective buyers. And if a seller receives an offer to purchase, a real estate agent can provide a recommendation about the best way to respond to this homebuying proposal.

Ready to add your house to the real estate market? Collaborate with a real estate agent, and you can boost the likelihood of getting an offer to purchase your home that allows you to maximize the value of your property.





Posted by Cynthia Owens on 6/11/2020

Curb appeal is a difference-maker during the home selling process. If you understand how to upgrade your residence's curb appeal, you may be better equipped than ever before to enjoy a fast, profitable house selling experience.

Now, let's take a look at three tips to help you improve your house's curb appeal.

1. Prioritize Lawn Care and Maintenance

If your lawn is covered in weeds and high grass, it may be overdue for a trim. Fortunately, you can mow the lawn, trim the hedges and perform assorted home lawn care and maintenance tasks to upgrade your residence's curb appeal in no time at all.

Of course, if you want expert lawn care assistance, you can always hire a home landscaping company. A typical home landscaping company employs friendly, knowledgeable lawn care specialists who can help you improve your lawn and bolster your house's curb appeal.

2. Eliminate Clutter

Lawn decorations may help you differentiate your home from others in your neighborhood. At the same time, these decorations may actually diminish the appearance of your home in the eyes of potential buyers. Also, lawn decorations may make it tough for buyers to envision what life may be like if they purchase your residence.

Remove lawn decorations, because if you have a clutter-free lawn, you can show buyers the true size and beauty of your lawn. And as a result, buyers may fall in love with your residence as soon as they see it.

3. Perform Home Exterior Repairs

If you notice cracked or chipped siding or other home exterior issues, don't wait to correct these problems. Because the longer you wait to perform home exterior repairs, the longer it may take to sell your residence.

For those who are uncomfortable about completing home exterior repairs on their own, it may be beneficial to hire a contractor. This professional will dedicate the necessary time and resources to ensure your home's exterior will impress buyers.

As you search for ways to improve your house's curb appeal, you may want to hire a real estate agent as well. In addition to offering recommendations about how to bolster your home's overall appearance, a real estate agent can serve as an expert guide along the property selling journey.

A real estate agent is happy to help you list your house, promote it to prospective buyers and host home showings and open house events. Plus, if you receive an offer to purchase your residence, a real estate agent can provide recommendations about whether to accept, reject or counter this proposal. A real estate agent will even negotiate with a buyer's agent on your behalf so you can maximize your house sale earnings.

Spend some time upgrading your residence's curb appeal – you'll be glad you did. If you can improve your home's curb appeal, you may be able to stir up lots of interest in your residence and reap the benefits of a quick, seamless house selling experience.







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