Annemarie Torcivia - RE/MAX  Trinity



Posted by Annemarie Torcivia on 7/17/2017

Being a first-time home seller can be exhausting, especially if you want to maximize your house's purchase price. Fortunately, we're here to help you understand what it takes to succeed as a home seller, regardless of the real estate market's conditions. Here are three factors that every first-time home seller needs to consider before adding his or her house to the real estate market: 1. Your Home's Condition You've completed many home improvement projects over the years, and as such, you may have boosted the value of your house. However, despite these improvements, there may be a lot of work that needs to be done to ensure you're able to generate plenty of interest in your residence among prospective homebuyers. Getting a home appraisal often serves as a great first step on the home selling journey. A home appraiser will be able to give you a better idea about your house's worth as well as potential areas of improvement. As a home seller, you'll need to consider the value of any repairs you complete. Ultimately, a home improvement project may help you boost the value of your house, but it also may mean that it takes longer for you to add your house to the real estate market. Consider the pros and cons of home improvement projects. And if you need extra support, be sure to consult with an experienced real estate agent. 2. Your Home's Price Are you selling your residence in a seller's or buyer's market? Ideally, you'll want to be able to offer your house in a seller's market, i.e. a period in which there are more homebuyers than home sellers. Conversely, even if you're selling your house in a buyer's market (a market that includes more home sellers than homebuyers), you may be able to make your house more attractive to potential buyers if you offer a competitive price. Look at what similar homes in your area have sold for over the past few months. Also, be sure to work with a real estate agent who can provide insights into home selling and homebuying trends in your area. By doing so, you'll be better equipped to list your house for a fair price and improve your chances of a fast sale. 3. Your Post-Sale Plans If a homebuyer makes an offer on your residence that exceeds your expectations, how will you proceed? You'll need to consider your post-sale plans, as this will ensure that you're ready for any home selling scenario that comes your way. You may want to de-clutter your home as much as possible to make it easier to finalize a sale and relocate to a new address. In addition, you should try to work with a real estate agent who can help you sell your current home and find a new one that meets your needs going forward. Just because you're a first-time home seller doesn't mean you can't prepare like a pro. Consider the aforementioned home selling factors, and you may be able to improve your chances of optimizing the price of your home and speeding up the home selling process.





Posted by Annemarie Torcivia on 9/1/2014

Is it a seller's market? A buyer's market? Depends on the day and which media outlet you happen to be listening to. One thing is sure the market is changing. Here are some ways to know what kind of market it is: These are the signs of a buyer's market High inventory or more than six months of inventory currently on the market. Sale prices are higher than active listing prices. Lower closed sale numbers. Declining median sales prices. Higher DOM or days on the market. Here are some signs of a seller's market Low inventory or less than six months of inventory currently on the market. Sale prices are lower than active listing prices. Higher closed sale numbers. Increasing median sales prices. Lower DOM or days on the market. These are signs of a balanced market Three to six months of inventory is currently on the market. Sale prices are similar to active listing prices. Stable sales numbers. Flat median sales prices. Days active on the market are approximately 30 to 45 days. If you want to know how to figure out the months of inventory there is a simple way to do that. Take the total number of active listings and the total number of sold or closed transactions on the market last month. Divide the number of total listings by the number of total sales, which results in the number of months of inventory remaining. Then you can determine what type of market it is.