Selling an Everett Home

Understanding the Market

Most likely a property will sell at its fair market value; however, a property's market value is determined by what buyers are willing to pay. So, understandably, in a buyer's market (where the supply of housing is greater than the demand) buyers can find better deals than in a seller's market (where the demand for housing is greater than the supply).

The first step to determining a fair price for your home is to get a Competitive Market Analysis (CMA) of recently sold homes in your area. This report compares similar homes in your neighborhood and the price they sold for recently. Most Realtors offer CMAs for free. Just give us a call and we'll prepare one for you. For a more accurate valuation of your home, we can come out and take a quick look, which will give us a better idea of your home's condition and features.

There are many factors that affect the market value of your home. Some are within your control and some are beyond your control.

Factors within your control include:

• listing price
• terms offered
• condition of the property

The factors outside your control are:

• location and size of your home
• current market conditions
• other homes for sale

Is there a best time to sell?

Usually late spring is a good time to put your home on the market because many buyers are looking for homes at that time so they can purchase a home and move their families before school starts. But it’s always a good idea to put your house on the market as soon as you're ready so that it has time to sell. Houses sell year round and during a slower period, there is generally less inventory to compete with.

How long should it take to sell?

Average listing times can vary widely by neighborhood, price range and inventory level. Your Realtor can advise you on what to expect in yours. Once your home is in contract, currently it is normally 45-60 days until the closing. This time frame is established during the contract negotiations.

Pricing my home for sale

Pricing a house is one of the most important parts of the marketing process. You want to get as much for the property as you can, but if you set the price too high, you can turn away qualified buyers. Your real estate agent can tell you the selling price of homes comparable to yours. Pricing strategy depends on market conditions, and it is different in a buyers market than it is in a sellers market.

If your home is overpriced, the marketplace will reflect that to you. When a property fails to sell in a reasonable period of time, you and your real estate agent should have a frank discussion to determine whether too high a price tag is the reason. When your home is on the market for a while, people tend to think there is something wrong with it. Your real estate agent will also be getting feedback from other agents who have shown your home.

Make your home as appealing as possible

Make sure your home shows in its best possible light by creating curb appeal, cleaning and staging it for optimal attractiveness. Don't start any major renovations. You will not be able to recoup the costs. Do, however, fix anything that needs repaired.

The real estate market is hard to predict but following this advice will make it easier to sell your home in any market condition.