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Marketing your Home for the Holidays

Marketing Your Home for the Holidays

The holidays can be an ideal time to market a home. Families spend more time together, and sellers making a move during fall and early winter tend to be highly motivated.

Also, companies transfer employees according to need, and January is one of the busiest times of the year. When relocating transferees often have only a few weeks to find a home so make sure your house stands out with a few well-placed holiday decorations.

Consider asking your Berkshire Hathaway HomeServices network sales professional for some staging advice to help you strike the right balance between inviting and memorable.

Your agent will certainly tell you not to clutter tabletops, mantles or countertops or put holiday decorations out too soon. Wait until after Thanksgiving and take them down by the first weekend in January.

This may not be the year to put up a big tree because it can make a room appear cramped. The number one reason buyers choose a home is to have more space so let them look around without stepping around gift packages or avoiding fragile ornaments.

If you want a live tree, make sure it’s watered so the tree won’t turn brown or drop needles. Use fresh garlands to decorate mantles and doorways, and you can throw them away after the season.

Your time is best spent cleaning, staging and packing nonessentials in preparation for moving. Your home will show better and you’ll feel less stress if you don’t take on too much.

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.