Sunday, May 4, 2014

Should I Sell My House This Year?? Or Wait for a Better Housing Market?

Should I Sell My House This Year??
Wait for a Better Housing Market?

Every year many homeowners wonder if this is the BEST time to put their house up for sale.  They go back and forth with all the pros and cons of the housing market before them.   Is this the year and season that will yield the best return for my house.   Should I wait till next month, season, year? If you are one of the sellers on the sidelines waiting for the perfect market here are some tips that will help.  When should I list my house for the best return? There are many factors to consider when answering this question. Remember real-estate sales is basically controlling as many variables as possible in the sales process and then sprinkling some luck on top.      The most important factor to consider is the current local housing inventory in your market, snow, holidays and rainy season the buyers are out there.  If you are in a sellers’ market (lower inventory) you have more potential buyers looking to buy increasing your chance of getting the best value for your house.  Houses will and do sell in any market but supply and demand will have some say in your closing price.     What would be the best price to list it for?  Should I list high and reduce my price as my house sits or list low and lose money I could have earned if I listed higher?  I have had this discussion many times with sellers.  Everyone wants the most money they can get for their house. The big question is how to achieve that.  Price to high/low and you scare potential buyers away.     Put yourself in the buyers place.    If you know the recent sales of all the 3Bdrm, 2Bth houses in Plainview, Syosset, Hicksville, Bethpage, and Old-Bethpage N.Y.  Why consider anything out of that range???       Do your homework and review the last three months of comparable sales and current listings then decide where you want to be in that sub-group.    Remember like insurance companies control health costs, banks will not give a mortgage on a house with an agreed upon price that is out of the market.  Should I fix-up my house before listing?    Yes!  Buyers want houses they can feel comfortable living in with their family and that first impression means a lot.    Things like painting the front door, cleaning the house and yard, removing clutter are just a few quick fixes.  Should I hire a Realtor or go For Sale By Owner?      I can discuss the pros of having a professional help in the sales process of your home all day.    Think of this when deciding to use a Realtor the past owner of one of the largest For Sale By Owner companies in the U.S. hired a real estate sales agent to list and sell his house.  You do the math on that one.    Why is my attorney an issue when I am trying to sell my house?  I know him for the past 20yrs and he helps me with all my legal issues.  The best attorney for real estate sales is one who specializes in the process and is willing to work with the sales agent/broker to help the process move forward.     Weather you decide to list with a broker or go FSBO when your house is on the market you have to allow people to view it.  That means being home as much as possible if selling yourself or giving your agent access for showings to allow buyers to see what could be their most expensive investment.   All these controlled variables plus some good luck coming your way will help you yield the best price for your house in the current market.