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Pricing Your Home for a Fast Sale

Sold Home Image on NWISeniors.comPricing your home for a fast sale is important.  A good real estate agent will know how to price your home correctly. If you’re selling your home yourself, you may want to price higher than the market will pay.  But that often backfires and leaves your home unsold.  Both buyers and sellers want a fair deal and using the right pricing strategy can make the difference between a fast sale and an expired listing.  This Senior Citizen tip is on pricing your home for a fast sale.

Pricing your home for a fast sale uses science and a little art.  Science because realtors use market history to decide the best price.  A good realtor will pull recent homes that are active, expired, and sold.  The homes will have similar features in number of bedrooms, bathrooms, square footage, style, and age.  Realtors look for similar homes in your subdivision.  If none are available, they’ll do a radius search.

It’s important to remember price and time are usually opposite.  In other words, homes priced higher than the market will sit longer and risk not selling.  In comparison to homes that are priced right or lower, these homes sell faster.

Sellers should get the most money out of their home.  But senior sellers must stay realistic about the results of pricing too high.  Any home that stays on the market too long raises red flags with buyers. Eventually, you may need to reduce the price drastically to sell your home.

Improvements Help in Pricing Your Home for a Fast Sale

Sellers often believe any improvement raises the selling prices.  But not all improvements are equal.  Buyers expect basic items to work in any home.  Before you sell your home, your furnace, air-conditioning, appliances, roof, electrical and plumbing, and structure of your home should be checked and in good working order.  Buyers expect this.  But you can use recent improvements in pricing your home for a fast sale.  Including these improvements in marketing your home can help persuade a buyer to view and buy your home.  If your neighbor’s home is for sale and had no improvements but you recently added a roof and new air-conditioner, most buyers would buy your home because these items won’t need improving for some time.  Compared to your neighbor’s house where they may need to make repairs soon after the sale.

Keep in mind not all improvements increase the price of the home.  And sellers often think their home is worth more than a buyer will pay.  Your realtor will share pictures of the comparable homes used in your pricing strategy.  Seeing these pictures will help you set a realistic price for your home.  If your improvements are better than other similar homes, you may get a higher price.  But if you haven’t improved your home in decades, you may need to set your price lower for a fast sale.  Relying on the expert opinion of a realtor helps set realistic expectations for pricing your home for a fast sale.

Are you a senior or senior helper in Northwest Indiana needing to sell your home or move?  Contact Georgene or call her today at 219-315-6569 to find out what your home is worth and ask about her value-added services.

For more tips on real estate, aging-in-place, and not outliving your money, request a copy of our free book, The Northwest Indiana Guide for Seniors.