Amy Miller's Blog
Although a slow, gradual approach to selling a house often proves to be ideal, there may be instances when you need to work quickly to list your home. In fact, some of the primary reasons why an individual may try to accelerate the home selling process include:
1. You are planning to move to a new house right away.
If you recently submitted an offer on a house that is contingent on selling your current residence, you may need to act fast to sell your present home. Otherwise, you may miss out on the opportunity to finalize the purchase of your dream residence.
For home sellers who face a time crunch, there is no need to worry. If you collaborate with a real estate agent, you can get the help that you need to enjoy a quick, seamless home selling experience.
Typically, a real estate agent will learn about your home selling goals. This housing market professional then will craft a strategy to help you sell your house within your designated time frame. That way, you can boost the likelihood of getting the best-possible price for your residence, regardless of how much time is at your disposal.
2. You know exactly what your house is worth.
A diligent home seller likely knows all about the condition of his or her residence. Thus, this seller should have no trouble setting a competitive price for his or her house, increasing the possibility of a fast home sale.
To determine a "fair" value for a home, it generally helps to conduct a house appraisal. During an appraisal, a property expert will examine a residence and provide a valuation. Next, you can use this valuation to establish a competitive price for your house.
Also, it may be beneficial to complete a home inspection prior to listing a residence. An inspection will help you identify any "hidden" home problems and ensure you can address these issues before they escalate.
3. You understand the local housing market.
The real estate market can be complex, particularly for home sellers who face pressure to sell their residences as quickly as possible. Luckily, a home seller who knows the ins and outs of the housing market can improve his or her chances of achieving the best-possible results.
To learn about the housing market, you may want to consult with a real estate agent. In addition to guiding you along the home selling process, a real estate agent can teach you about the local housing market. By doing so, a real estate agent can help you make informed decisions at each stage of the home selling journey.
Furthermore, a real estate agent is available to respond to your home selling concerns and questions. And if you're ever uncertain about whether to accept an offer on your house, a real estate agent is happy to provide expert recommendations.
Want to list your house? Plan ahead as much as you can, and you can quickly navigate the home selling cycle.
You may think of downsizing as something that makes sense when you have an empty nest. Larger families do, of course, need more room. Downsizing can also be financially strategic and rewarding for you and your family if you have the opportunity to do so.
How Much Is Your Home Worth?
There comes a point in your life when the amount of money that your home is worth is very important. Maybe you need the money for retirement and are looking to move to a cheaper city or state. Maybe it’s time for you to pursue your goals and dreams. Whatever the reason, your home is a very large asset.
If you downsize, you’ll have a bit more money available to invest for your future. You may even consider buying an investment property. If all of your money isn’t tied up in a home, you’ll have a bit more freedom to do other things with your money.
A Smaller Home Means Smaller Expenses
When you downsize your home you end up with much lower expenses for your housing. You’ll save big on both utilities and home maintenance. You’ll be surprised as to how much extra cash you’ll have each and every month that you’ll be able to use for other things like investing, travel, or other expenses. You’ll have the ability to do things beyond simply achieve that one dream goal of home ownership.
What If You Don’t Already Own A Home?
There’s a lesson to be learned here for renters as well. If you’re getting ready to buy a home, you may want to think small. A smaller home that can suit your needs will allow you to save thousands of dollars over the life of the mortgage on your home. Remember that a mortgage payment is more than just the cost of the home. You’ll need to include things like taxes, insurance, mortgage insurance, heating, electricity, and more. The smaller the house that you buy, the less all of these things will cost. Think of what you could do if you invested that extra money that you saved on all of these things each month.
What Would You Do With The Money You Save?
Having a big, beautiful home is a fantastic goal to achieve. You may have other dreams that you want to pursue in addition to owning a home. While downsizing isn’t for everyone, many people use the money they save to do some pretty incredible things like:
- Go back to school
- Buy a vacation home
The Negatives Of Downsizing
If you move into a smaller home, there are a few drawbacks. For one, you’ll have less storage and will actually need to downsize your amount of belongings as well. You’ll also have less room for visitors if hey come to stay. If grandkids frequent your home, you may be hesitant to sell and find a smaller place. It may also be difficult to find what you’re looking for at a certain price in a specific area. Think carefully before you decide to downsize and see if it has the right benefits for you.
Let's face it – selling a home in a buyer's market is far from ideal. In this scenario, a home seller likely will compete with many property sellers to promote his or her residence. And despite a home seller's best efforts, there are no guarantees that he or she will be able to maximize the value of a residence.
A buyer's market often is a dream come true for property buyers and a worst nightmare for property sellers. Lucky for you, we're here to help you navigate a buyer's market and ensure you can get the best price for your home.
Now, let's take a look at three tips that every home seller who is operating in a buyer's market needs to know.
1. Complete a Home Appraisal
A home appraisal offers a valuable opportunity for a home seller because it enables this individual to identify a property's strengths and weaknesses. That way, a home seller can find the best ways to enhance a residence and help it stand out from other available properties.
Typically, a home appraiser will inspect a residence both inside and out. After the evaluation is completed, the home appraiser will provide a home seller with a report that describes problem areas that were identified during the assessment.
A home appraisal report can make a world of difference for a home seller, particularly in a buyer's market. With this report in hand, a home seller can work toward enhancing a house's interior and exterior.
2. Establish a Competitive Price for Your Residence
What you paid for your home a few years is unlikely to match the value of your house today. Meanwhile, a home seller should set a competitive price for a residence to ensure that his or her house stirs up plenty of interest from homebuyers.
To determine a competitive price, examine the prices of comparable homes that are currently available in your area. This will help you establish a price range for houses similar to your own.
Furthermore, check out the prices of recently sold homes in your city or town. This housing market data can help you make an informed decision about how to price your residence.
3. Work with an Experienced Real Estate Agent
An experienced real estate agent is unafraid to list a home in a buyer's market. In fact, this housing market professional knows exactly what it takes to sell a residence in any real estate market, at any time.
Thanks to an experienced real estate agent, you can streamline the home selling process. This real estate professional will showcase your house to the right groups of property buyers consistently. He or she also will set up home showings and open houses, negotiate with property buyers on your behalf and do everything possible to help you optimize the value of your residence.
Take the guesswork out of selling a home in a buyer's market. Use these tips, and you can keep things simple as you sell your residence.
As a home seller, there is always a chance that you may receive a lowball offer on your house. When this happens, you might feel disappointed and frustrated and be ready to move on to the next offer. However, a lowball offer may set the table for a negotiation, particularly for a home seller who knows how to respond to this proposal properly.
Ultimately, it is important to assess any offer on your home, even if this proposal fails to meet your initial expectations. And even though it may be tough to take a lowball offer seriously, you'll want to consider the pros and cons of it before you make your next move.
What does it take to assess a lowball offer on your home and counter it accordingly? Here are three tips to help a home seller do just that.
1. Stay Focused on Your Goals
For home sellers, you want to sell your home, maximize its value and move through the home selling process as quickly as possible. As such, you'll want to keep these goals in mind any time you receive a lowball offer.
If you receive a lowball offer, remain focused on your goals, and try not to get too emotional about it. With this approach, you'll be able to remain calm, cool and collected and respond to the proposal without the risk of burning any bridges between you and a potential homebuyer.
2. Respond to the Homebuyer's Offer
What you might consider to be a lowball offer may be a fair proposal in the eyes of a homebuyer. Thus, you should respond to a homebuyer's proposal, regardless of whether you consider it to be a lowball offer. By doing so, you may be able to open the lines of communication and help the homebuyer better understand what you consider to be a fair price for your residence.
After you receive a lowball offer, you may choose to pass on it and can relay your decision through your real estate agent. In this scenario, you can let the homebuyer know that you appreciate his or her offer but are going to pass on it. That way, you can decline the proposal politely and await offers that fall in line with your expectations.
Comparatively, you might decide to counter a homebuyer's initial offer, and your real estate agent can pass along the information about what you would be willing to accept for your house. By countering a homebuyer's offer, you may be able to begin a negotiation that could help you accelerate the home selling process.
3. Establish Realistic Expectations
Pricing your home competitively from the get-go is paramount for any home seller. With a competitive price, you'll be able to set realistic expectations for homebuyers and may be able to avoid the risk of receiving a lowball offer entirely.
When it comes to determining a fair price for your house, consult with your real estate agent. Remember, your real estate agent possesses industry experience and can help you set a fair price for your house based on the current real estate market's conditions.