Thinking of selling? Sell your home with The Cascade Team
Do your research, choose your listing price, and watch the home buyers line up.
Unlike the cost of a gallon of milk or a flat-screen television, a home’s price can be hard to pin down. It’s complicated because each home is unique and has its own story to tell.
When it comes to setting the price of a house, the only thing to do is to look at the recent sales and active listings of similar homes in your area. Combine this research with the inside market knowledge of a local real estate agent, and you can confidently choose your list price.
Here are some guidelines to keep in mind when determining how much to ask for your house.
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When doing your real estate research make sure to look at recent comparables
Markets change fast, so it’s best to find comparable sales within the past three months. If you go back too far, you will see homes where a deal might have been made many months before it closed.
Real estate markets can turn on a dime, so a deal put together more than six months ago isn’t applicable. Pending sales are can be an indicator of the current market’s conditions. However, sold properties are more accurate numbers when determining what price to list your home at (including the condition of your property)
Understand that fixtures and finishes matter in real estate
Let’s face it, home buyers prefer a tastefully renovated home with neutral finishes and fixtures over an unrenovated home, one stuck in the ’80s, or one with outlandish decorations.
When looking at comparable houses online, you must be objective. If your home isn’t updated, it’s not going to sell for as much.
Here’s the good news: The amount of money it would cost to upgrade your house is probably a lot less than the difference in value. Be open to making some small changes before listing.
When you’re ready to list your home, your real estate agent will work with our coordinator team to secure any needed home renovations. Payment is deferred until home closing, or 180 days and escrow will deduct costs from net proceeds to pay for services rendered.
Preparing your home for sale is essential to capturing the highest offer, fastest. Simple steps like fresh paint before an open house can increase offer amounts by 10% vs. homes with no work done. And with prices averaging over $1,000,000 we’re talking some serious return on investment!
Simple kitchen and bath improvements are what home buyer shoppers desire the most, according to a new analysis released today by home-buying platform Knock. Although the housing market is fiercely competitive, an updated home still tugs at buyers’ heartstrings, selling an average of 30% faster than a home without improvements.
“Getting a home ready for sale can be a stressful experience, and the supply chain constraints and contractor backlogs brought on by the pandemic have made it even more difficult to get work done,” said Knock co-founder and CEO Sean Black. “Three years ago, homeowners had to put a lot more work into their home before listing it. However, even in the current market with homes selling in record time, the data continues to support the benefits of getting your home show-ready.”
The analysis found that homes with modern renovations sold in an average of four (4) days, compared to 12 days without improvements. Homes with two or more improvements sold two times faster – in an average of two (2) days.
Interior and exterior paint is the most common home improvement with 70% of sellers opting to refresh their walls at an average cost of approximately $6,500. However, prospective home buyers crush the most on freshly painted kitchen cabinets, a project that can be completed for $1,319 on average.
No two homes are alike
The 2,000-square-foot, 3-bedroom, 2-bath home with two-car parking on a quarter acre down the street just closed for $500,000. That means your home — also a 2,000-square-foot, 3-bedroom, 2-bath house with two-car parking on a quarter acre — is also worth $500,000, right?
Not so fast. What you don’t realize is that the other home’s three bedrooms are not all on the top floor, and that the home lacks an en-suite master bathroom, its kitchen is closed off from the living areas, and the layout is choppy.
Home buyers pay more for better floor plans and flow. Your home, with an open concept kitchen/living area and three bedrooms all near each other, is much more valuable.
Small nuances in the real estate market will affect price
Understand that each comparable home requires some serious research before calling it a “comp.” A home down the block may seem like it’s the same location as yours, but it could be in a different school or tax district, which will affect its value.
A smaller home may have sold for 20 percent more than yours, but maybe it was on a double lot that could be split, which makes it more valuable to a builder or developer.
If you see a nearby home with a price that seems off the mark, there must be a reason. Dig deeper to uncover what it is, and realize that the home may not, in fact, be a comparable one.
Go see homes for sale
Rarely does anyone decide to sell overnight. Once you realize a sale is in your future, get out and see what’s in your market. Check out open houses nearby to see the interiors for yourself.
Homes you see in January will likely be pending or closed by the time you list in April. Or they may still be on the market, which is an indication of poor pricing.
Check out the different floor plans, finishes and fixtures of nearby homes for sale, and consider whether each is more or less valuable than yours.
The best home seller is the informed one. So don’t rely solely on your real estate agent’s word about a particular house, or the market in general.
The Cascade Team provides a full-service experience that is a step above; by executing a marketing plan that is unique to your home, rich in technology and high in service. We leverage the most innovative technological tools to provide the most exposure possible for your home to increase the communication and service to you, our client.
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More local real estate market knowledge
Our local real estate agents are market experts and possess the critical local market knowledge to both price and market your home more effectively than any other brokerage. We pride ourselves on living and working in the communities in which we serve. Backed by our proprietary “Push-Pull” technology our professional real estate team is here to serve you…. The Results speak for themselves!
Use your real estate agent as a resource
The earlier you bring a local real estate agent into the fold, the better. A good real estate agent will tour properties regularly, and know their market inside and out. They can likely explain the seemingly inexplicable, and offer tips to help make your home more valuable.
A good real estate agent has the inside knowledge on pending homes sales and their finger on the pulse of the market 24/7.
Amazing real estate marketing & 1% listing commission for home sellers*
The Cascade Team real estate is a company like no other because of the marketing, service, and home seller savings we provide. We understand that in today’s real estate & home selling environment, we need to provide a high level of real estate service and widespread marketing of the home for sale, utilize technology to keep our home seller clients in the communication loop and provide added value to both home buyers and home sellers in the real estate transaction. The effective use of technology tools allows our real estate agents to focus more of their time on servicing our clients and finding home buyers for your home, all the while providing the most comprehensive real estate marketing program available. In the end, you get the perfect combination of online real estate tools and personal service in the home selling process.
You want to make sure you are receiving the most out of your investment. You want a real estate agent who is focused and determined to not only meet but exceed your expectations. And more importantly, market your home the right way to help you get your price that you envisioned for your home. Not only will The Cascade Team marketing plan help set your home up for success, but we will also save you thousands of dollars - $$$ Calculate Your Savings $$$
*1% Listing Fee + Buyer Agent Commission
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