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sell quickly

Learn what to do if you need to sell your house quickly

Do You Need to Sell Your Home Right Now?

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When it comes to selling your home, timing really can be everything. Whether you have a deadline related to a family matter, job change or other milestones, sometimes, the sooner the better is driving when selling your house. Here are a few things to bear in mind as you to speed up the time of selling your home right now.

Price Competitively

Of course, as a seller, you want top dollar for your property. But from the buyer’s perspective, who are aggressively looking to buy they know a good value when they see one. If a quick sale is what you’re after, get the data on home that sold in your neighborhood area in 30 days or less. There are price points and sales that are supported by home where you live. The right real estate agent will help you determine the sweet spot that gets buyers through the door – and depending upon the market, might inspire an offer. You should not have to offer a “super low price” to sell quickly unless you have a compelling strategy for a “bidding war.” My advice is set a price that will get at least two offers.

Make Your Home Shine

Buyers want a pretty home that looks well kept and maintained. Improving curb appeal and decluttering your home buyer interest that will ultimately lead to a sale. If you have time to sell consider hiring landscapers, professional painters, and cleaners, so you can get the place to tip-top shape and let your listing shine from the first showing. (You might want to read Clean Up Your Act: Get Your Home Ready to Sell or The Home Seller’s Guide to Decluttering Your House.)

Have Disclosures and Reports Ready

Any good listing features the home’s strong points up front, without creating unrealistic expectations that may lead to false starts. Once you have an interested buyer or two, their main concern will be any underlying problems the property may have, such as HVAC issues or spent roofing. Having potential buyers go through the process of hiring their own home inspector, only to discover deal breakers, is a waste of everyone’s time. Consider hiring your own home inspector to do a check on your house so you can either resolve outstanding issues or bring them forth to your buyer. The sooner you as the seller can get on the same page as your buyer, the better your chances of making a smooth, efficient sale.

Sale-derailing deal breakers are a surefire way to slow down any offers or completing the sale. Being upfront with Buyers about any underlying problems the property may have creates trust that in my opinion will allow minor issues to not become deal breakers.

Let Your Friends Know You Are Selling

Posting on social media is one of a few great marketing strategies for selling your home. It can be a good way to spread the word to your personal network and beyond. Sometimes, a buyer could be closer than you think in the form of a friend, neighbor or relative, or someone in their social spheres. The more eyes on your listing, the better. (See also Accelerating Your Home Sale with Social Media.)

The Right Time To Sell

With the current market where inventory of homes is at a premium, today is a good time to sell. When the market changes (inventory  of homes for sale is at least 3 months) putting your home on the market in spring or before June is almost always preferable to starting any other time of the year. If you can wait until the first six months of year, you’re more likely to get more showings and move through the sale more quickly than when there are fewer buyers. If you can’t wait, there may be other options you should discuss or consider.

The time is right, price it right and do it up right, and you should be on your way to the speedy sale you’re after. Remember to set your expectations with careful research and decisions, approach the process with the goal to get you to where you want to live next.

Why-is-my-House-Not-Selling

Your Home Is On Market – No Showings or Offers

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Tic Tock Tic Tock

Your home is listed, and you did your list price homework with your agent. It’s on the market, but is it the right price? There was all the pricing tactics and strategy ad nauseum of setting the right listing price. Now it’s showtime, and decisiveness based upon showing activity of your home, goes a long way to ensuring a successful sale of your home. Here is the infamous fair market pricing pyramid for selling a home.

The Right Price Maybe…

A good real estate agent has a process for setting the market price. Unfortunately, most of the time real estate agents ultimately defer to the seller’s wants and specifically the price the seller wants to sell the home for. If the agent doesn’t see the price the same as the seller, the Seller will find an agent who will list the home at the seller’s price. This seller price is often influenced upon a nearby sale, or home pending, or just a feeling that the seller’s home is worth more. In the end the right price is validated by an offer. In order to sell any home, a listed home needs showing, the more showings, the more validation that the pricing is often right. Sellers are often faced with the big challenge in a hot market of the extremes of no showings or plenty of showings but no offer or. These all are major indicators of the interest and willingness to make an offer on your home. However, please be aware that the only showing that matters are the one that makes an offer.

Indicators of the Incorrect List Price

A “hot” seller’s market is often thought of as multiple offers over listing price. This is not necessarily true. It’s often too many buyers and too little inventory driving the activity. In real estate agents talk about the “pricing” pyramid. Another pricing concept is the higher the price the fewer the buyers. Right now, a home priced under $620,000 (This is driven by conventional loan limits) will have an accepted offer/pending sale in less than 15 days. The 30-day in contract is the key metric Seller’s should be aware of. For the next pricing tier, $620,000 to $1,000,00 the Seller should have an accepted offer in 30 Days. For homes over $1,000,000 the home should be in contract in 45 days. If you’ve missed these metrics, not only have the buyers passed on your house. You are now chasing the market.

Days on Market for an Accepted Offer Based Upon List Price

List Price Pending Sale Within
Under $620,00015 Days
$620,000 to $1,000,00030 Days
$1,000,000 and Over45 Days

No Showings after 5 Days or Open House

This is a red flag you have missed the price in a hot market. As a seller you need to talk ASAP to your real estate agent and discuss a price reduction or incentives to sell your home (pay for closing costs, repairs, Seller credit). If your home is being sold “as-is” you may want to temporarily take it off market and address issues that you think are hurting buyers from viewing your home.

Too Many Showings With no Offers

If you receive over 3 viewings without an offer by qualified buyers in the current market in South placer, you have missed on the price. If you had an open house with great turnout (5-10 groups of buyers per day the house was open) your listing price is too high. What is a qualified buyer? Your agent should be asking buyers agents or perspective buyers their qualification to buy a home in your price range (are they approved, how will they purchase), why the interest in your home (number of bedrooms/features are a match), and timeframe to buy (ready buyer).

Too Many Offers on Your Home

If you have more than two multiple offers over the listing price in the first week of being on market you have “underpriced” the home. Granted that homes under $300,000 in South Placer will more often than not receive multiple offers are they over asking the asking price? The challenge with multiple offers is who is the best buyer? If often not who offered the most in price. Your real estate professional should be able to help you determine who the best buyer is looking at the terms and conditions for the purchase. Verification of funds, and other qualifications of the buyer matter. Contingencies also have to be carefully considered. Choose carefully and be aware too many offers especially above listing price is not necessarily the “right” price for your home.

Contingent Offers

Contingent offers are often made on homes that are not priced correctly of have been on the market for thirty days without an accepted offer (pending sale). These offers in general are not necessarily bad offers but the contingency if accepted may keep your home off the market too long (60 or more days) and if the Buyer doesn’t perform you may have fewer buyer available if the home goes back on market. In general, if the contingency is over 30 days, it’s an offer that may not perform (the contingency to sell a home is often this big issue for performing). Again, a good real estate agent should be able to help you make the right decision.

Incorrect Listing Price Impact – Chasing the Market

Chasing the market is when a home’s days on market is greater than the pending sale status, i.e. overpriced. Now the seller is competing with every new listing and being compared to every sale for a house that was on the market too long. This will often result in offers that are 10s of thousands of dollars less than the list price. In the age of the internet, the homebuyer is updated within minutes of a new listing being available. These buyers are willing and able to purchase your home. Don’t disregard this important metric, at this point, the best buyers have passed on your home. Price is the now the only factor that will drive the activity and an offer. You should be seriously considering a pricing reduction strategy to incrementally lower the price until you receive an offer. Accepting this strategy is extremely painful to do, but the “watchers” of your home online will eventually see the price as an opportunity to view and make an offer.

Hope is the 4 Letter Word ….

That should never be used in conjunction for selling your home. Sellers and their agents shouldn’t hope that it sells. The goal is to get your home on market and to get the best ready willing and able buyer to make an offer and complete the purchase. In a hot seller’s market like South Placer, showing activity leads to offers. The buyers are there especially in the bottom third of the home pricing pyramid (Under $620,000 list price), and the right price is the one that receives an offer. Just be sure to realize that a hot market only means that a home will sell in a more reasonable amount of time. It doesn’t mean multiple offers, over list price, and a seller can place conditions to sell the home than creates a long escrow. If you have questions reach out to your real estate professionals and guide you selling in any real estate market.

Curbappeal

Selling Your Home? Curb Appeal Matters

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I often tell clients that people look at your home based upon curb appeal and then buy what’s pass the front door. Your realtor has probably taken some great photos of the outside of the house (It’s the most important first picture on the listing by the way). Nothing is more disappointing to a prospective buyer than doing a drive by and seeing the home has little to no curb appeal. I tell sellers if the buyers love the outside of the home your almost halfway to an offer. What can you do to help make your home pop? Here are some suggestions for maximizing the curb appeal of your home for sale.

1. The Front Door

The first thing a buyer sees, and touches is the front door of your house. If your door looks dingy and old replace it with a new door. If your newer door is weathered, get it painted. New hardware and especially a keyless lock make a statement too. Make sure the doorbell works too.

2. The Garage Door

Sometimes it’s the first thing potential buyers see when they drive up to your house. If the garage door is dirty, worn, and hanging from a hinge, replace it. A new garage door can help you sell.

3. Wash the Windows

If you don’t do windows, hire someone who does. Clean windows show potential buyers you take good care of your house. Repair or replace any damaged windows and window screens. This attention to detail makes them want to see the inside.

4. How is Your Roof?

This is a big one. Roofs are expensive; buyers know that. But a leaky roof can end up costing even more. Buyers always, always ask their agents how old the roof is. If you can replace it, it’s the right thing to do and always helps sell the home. If you can’t replace it, have a roofer patch spots that show wear and save the work order. It’s best to get any repairs for this big-ticket item done before you sell or list the home.

5. Clean the gutters

If your gutters resemble potted plants, it’s time to clean them. If they hang lower than the roofline, reattach them. A cluttered gutter signals to potential buyers that you’ve given up, and they likely will, too. Painting gutters and fixing any leaks, making sure any downspouts are functional and attached. Check the drains and make sure they are clean. Buyers are drawn to a house that is loved and maintained.

6. Paint the exterior

New paint always makes a house pop (unless its safety orange). Stay safe with the color. If you can’t afford to paint, consider power washing the exterior. Another approach is having the entry area repainted since it makes a good impression on the buyers when they come to the front door.

7. Do the Yardwork

Mow the lawn, do the edging, trim the hedges, plant flowers and trim trees. A well maintain yard matters and no one want to buy a landscaping project. If it’s a lot of work to get it right, ask your realtor or friends to recommend a landscaper or yard maintenance company to get it ready in a day or two. Its money well spent.

8. Power wash the walkways/porch/courtyard/deck

A well-maintained home will sell itself. Making your home appear well maintain helps buyers focus on living in your home not all the work they need to do after they buy it.

9. Leave the lights on

Leave the outdoor lights on into the evening (9PM local time). The lights on the front facing rooms help as well as outdoor walkway and landscaping lights. Make the house look as good at night as it does during the day, then watch (from a distance) as buyers line up to attend your first open house.

Pro Tip: Don’t be overwhelmed by the work to make the home’s curb appeal shine. Look at your home like a buyer and do what you can to show your home in the best way possible. If you think it needs addressing, it surely will matter to the next owner. Buyers aren’t afraid of updating and making your home their home after they buy. However, they want to know you were a good owner and took care of the home.