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Health & Fitness

A Price War and a Beauty Contest!

Local Realtor Comments on How to Prepare and Price Your Home For Sale in a Buyer's Market

If you are planning to sell your home now or in the near future, there is something you should know and accept before you take the plunge: be prepared to list your home at a realistic price!  Realistic means what the market will bear.  Realistic does not mean "what you want," "what you need," "what your best friend says it's worth," "what you put into it," "what you bought it for," or "what you owe." 

An overpriced home in today's market gets passed right over.  There are oooodles of homes for sale in every price range.  So, how do you get your home sold in a Buyer's market?  By making your home the best value!  Buyers have so much inventory from which to choose, that they are just not going to get bogged down with an unrealistic seller.

The new paint, the family photos, the ceiling fans in every room and the heavy duty nails that were used in construction will NOT add value to your home!  What adds value?  A state-of-the-art kitchen, updated bathrooms, hardwood floors, central air conditioning, a large family room are some attributes that will add dollars.

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What will help your home show well?  De-cluttering is number one!  Get rid of the old magazines, the knick knacks, every kitchen gadget on the counters, make-up, perfumes and hair products on bathroom sink areas and magnets on the fridge from every city you have visited during the past 17 years. Pick up the carpets to show off hardwood floors if they are under carpeting.  If you have a pet, it is crucial to make certain there are no pet odors - and for goodness sake if you are a smoker, you'll have to take it outdoors!

Pricing a home correctly right from the start is critical.  "We should list high - we can always come down" is not the way to go.  Market time will be against you and then you will get into the worst ride of all - chasing the market!  In a declining market (such as the one we are in) every time you reduce your price to be more in line with the market, the market will have dropped again, and you will again be too high.  See the illustration showing how you will always be out of the market.  It will be extremely frustrating and your home simply will not sell.

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Marketing a home in today's market is considered a price war and a beauty contest.  Your home must be priced more aggressively than the others on the market and must show like it is being featured in "House Beautiful."

For more information on marketing your home, visit Catherine's website, www.yournewstamfordhome.com or call Catherine, 203-504-5331.

 

 

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