For Sellers Archives | Smith Mountain Lake Real Estate – Debbie Shelton

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Winter Showing Tips

Winter Showing Tips

You may think that wintertime isn’t the best time to show your home, but you’d be surprised. Yes, winter days offer fewer hours of daylight for buyers to see your home. Sleet and snow make it harder for buyers to house-hunt. Even warm regions have challenges – the weather may be gray or rainy.

But winter has a unique appeal – gathering with friends and loved ones by a crackling fire, winter sports played in the backyard, walks on the beach without all the summertime tourists. So play up what’s great about your home.

Make sure the drive-up appeal is strong. Keep driveways and walkways clear of snow and slush. Put a nice, new welcome mat out for buyers and their agents to wipe their feet.

Leave all the lights on for showings and open the drapes to let in more light. Closed homes tend to hold odors, so open the windows for an occasional airing, and run the fans after cooking meals. Bake some cookies or bread. Boil some cinnamon and spices for a natural, wintry fragrance.

If you have a fireplace, turn it on, but low. Stage the scene with a comfy, holiday-themed throw blanket. Put some big fluffy pillows on the floor.

Don’t hesitate to contact me for more winter-selling tips!

Third Quarter 2016 Smith Mountain Lake Market Report

Debbie-Vicki_Market-Report-Ad_1st-HALF-2016

Single family homes and condo sales are still ahead over last years data, however the momentum has slowed down since the first half of 2016.

For all categories, we are still on speed  for a nice increase in total number of sales over 2015.

 

 

 

The Seller Who Tests the Market

The Seller Who Tests the Market

When you see the market rising, it’s tempting to price your home even higher than nearby homes that recently sold. So you tell your listing agent that you want to “test” the market to see if you can get even more for your home.

Sometimes, it’s appropriate to choose a list price higher than recent comparable sold homes, but that strategy seldom works unless the market is climbing rapidly. If you’re looking for a quick, hassle-free sale, you need to decide which is more important – getting more for your home or moving on to your new life somewhere else.

Let’s say your neighborhood’s highest, most recent home sale was $500,000, and your agent suggests a listing price of $510,000. You want to test the market at $530,000 – which is $20,000 more than your agent recommends, and $30,000 over the latest comparable.

Your home hits the market at $530,000 and has tons of showings the first week. Your strategy is working, except that you don’t receive any offers. By the second week, there are few to no showings. Agents are reporting back to your listing agent that their buyers said your home “needs work,” or that they “found something more suited to their needs.”

After months of making two mortgage payments, your home finally sells at $518,000. Meanwhile, you paid months of overhead to get $9,000. You actually lost peace of mind and threw away a lot of money.

Overpriced homes simply take longer to sell. If you’re tempted to “test the market”, remember that the market will test you.