 Knowing the value of your home is the essential ingredient in generating a smooth and prompt sale. More than 60% of Davis listings are generated through Coldwell Banker Doug Arnold Real Estate. We are keenly tuned to our market, its properties, timing and flow. I can help you understand what your suggested listing price should be. Click here to receive an online analysis of your home. Once you have a general idea, let's look at the unique aspects of your property and fine tune the correct price.
I can offer you valuable advice about how to attract potential buyers - keeping your lawn trimmed and nice looking is an excellent start - as well as how to maintain the interior of your home to get the highest bid possible.
Setting Your Price
Think from your buyer's frame of mind when setting the price for your home. I will search for similar houses in your neighborhood that have sold lately, and homes that are for sale. This will help you set a comparable price that will get your house shown AND get you the money you deserve. There are a few things to consider in setting a price for your home:
If you set the price too high your house won't be picked for viewing, even though it may be much nicer than others in the area, potential buyers won't even see that because you didn't make their viewing list. You may have told your REALTOR to "Bring me any offer because I'll take less." But in their list of houses to view, your home simply looks too expensive to be considered and gets skipped altogether. Then when you lower your price you appear desperate to sell.
If you price too low , you'll short-change yourself. Your home will sell promptly, but before it has time to find the buyer who would have paid more. It's a delicate balance of supply and demand, and your Realtor is the expert in this area and has the available resources to provide this information.
NOTE: Never say "asking" price, which implies you don't expect to get it. Better to say "Offered at:"
To determine the proper list price, contact me today and I'll provide you with the following professional services:
• Comparable sales information : What are similar houses really selling for?
• Market conditions analysis : What is the supply and how long is it taking for homes to sell?
• Determination of incentives : paying closing costs, etc.
• Estimation of your net proceeds : How much money will you make if sold at this price?
The decision about how much to ask is always yours. The market information I provide will help you make a realistic and informed decision
Appraisals will be based only on past sales , unlike the CMA that uses past sales, current homes on the market, and homes that failed to sell. In addition, an appraisal is done for a fee while the CMA is provided by me as a tool to help you find the right listing price for your home.
If you have a unique property , or if there hasn't been much activity in your area recently, a formal written appraisal can be very useful in determining a listing price.
NOTE: If you do order a market value appraisal, make it clear you don't need an elaborate, or full narrative report--the kind that's complete with photos of the house and neighborhood, a map specifying the site, and floor plans is sufficient.
Net Proceeds
How much money they are going to get from the sale of your home? After you've been given an estimate of market value, you can then more accurately calculate the amount of profit you can realize. It can be particularly useful as you start looking for another home to buy, to figure out how much you can put down, or how much of your debt you can eliminate, which will allow you to qualify for more house.
No one can tell you exactly what your net proceeds will be due to the fact many of the costs won't be known until the process is underway, and the actual closing date has been set. The actual closing date will determine some of the fees involved such as taxes, insurances, and the ordering of some reports such as the Home Owners Association transfer and documentation preparation.
There can be numerous fees involved with the selling of your home. From the estimated suggested sales price, subtract :
- Payoff balance on your present loan(s)
- Any prepayment penalty on your mortgage(s)
- The broker's commissions
- Attorney's fees or escrow fees
- Any unpaid property taxes
- Title insurance
- Termite inspection
- Property ID report
- City of Davis resale report
In addition, I can tell you whether local laws require the buyer or seller to pay for the following items:
- Title insurance premium
- Transfer taxes
- Possible survey fees
- Possible repairs for termite damage
- Recording & documentation fees
- HOA transfer fees and document preparation
- Home protection plan
- Natural hazard disclosure report
Some of the payments of closing costs can be negotiated between you and your eventual buyer, some you are required to pay. I will help you in estimating your final closing costs.
Preparing Your Home for Sale
Getting your home ready for sale is a requirement . A prepared home can bring you thousands of dollars more and ensure a quick and smooth sale. A well-polished house appeals to many more buyers and will sell faster and for a higher price. Nothing turns buyers off quicker then dirt or clutter. Buyers are more comfortable purchasing well maintained homes because they assume that the things they can't see have also been well cared for.
Buyers want to imagine themselves in your home . For this reason, excess clutter of a highly personal nature - too many pictures, mementos, your toiletries - need to be removed to make space for the buyers imagination.
How much should you spend?
I want your home to "shine" for its potential buyers, but I don't want you spending a ton of money making it happen. There is a big difference between making minor and inexpensive "polishes" and "touch-ups" to your house, such as putting new knobs on cabinets and a fresh coat of neutral paint in the living room and clearing out clutter, and doing extensive and costly renovations, like installing a new kitchen. I'm familiar with local buyers' expectations in your area and can advise you on specific improvements that might need to be made.
How important is curb appeal?
The exterior is the first thing buyers see when they pull up to your home. It is just as important as the interior. If you can't get them through the front door, nothing you've done on the inside matters. So take some time, and get unbiased opinions of what needs to be spruced up, changed, or removed.
• Keep the lawn edged, cut and watered regularly
• Trim hedges, weeding lawns and flowerbeds, and pruning trees regularly
• Power wash exterior surfaces
• Check the foundation, steps, walkways, walls and patios for cracks and crumbling
• Inspect doors and windows for peeling paint
• Clean and align gutters
• Inspect and clean the chimney
• Repair and replace loose or damaged roof shingles
• Repair and repaint loose siding and caulking
• Add a few showy annuals, perhaps in pots, near your front entrance
• Re-seal an asphalt driveway
• Keep your garage door closed
• Store RVs or old and beaten up teens' jalopies elsewhere while the house is on the market
• Apply a fresh coat of paint to the front door
• Clean the area around the front door regularly
Preparing the Interior
Now that you've gotten the buyer through the front door, it's time to let the inside of your home shine. An unbiased opinion is very helpful here as well. It can tell you what should be changed, cleared out, and emphasized. Here are some pointers to remember:
• Give every room in the house a thorough cleaning, and remove all clutter. This alone will make your house appear bigger and brighter. Some homeowners with crowded rooms rent storage garages and moved half their furniture out, creating a sleeker and more spacious look.
• Have the windows professionally washed enormously increases the shine and glow of your home.
• Hire a professional cleaning service every few weeks while the house is on the market. This may be a good investment for owners who are busy elsewhere.
• Removing items from kitchen counters, closets, and attics, making these areas much more inviting. Since you're anticipating a move anyhow, holding a garage sale at this point is a great idea.
• If necessary, repaint dingy, soiled or strongly colored walls with a neutral shade of paint, such as off-white or beige. The same neutral scheme can be applied to carpets and linoleum.
• Check for cracks, leaks and signs of dampness in the attic and basement.
• Repair cracks, holes or damage to plaster, wallboard, wallpaper, paint, and tiles.
• Replace broken or cracked windowpanes, moldings, and other woodwork.
• Inspect and repair the plumbing, heating, cooling, and alarm systems.
• Repair dripping faucets and showerheads.
• Buy showy new towels for the bathroom, to be brought out only when prospective buyers are on the way.
• Spruce up a kitchen in need of more major remodeling by investing in new cabinet knobs, new curtains, or a coat of neutral paint.
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