Selling a House? – 5 Mistakes to Avoid
“What should I do to sell my house?”
It’s a common question.
Selling a house can really be emotionally draining when you consider it in the first person – Sell My House. Continue reading to uncover 5 common mistakes people make when tackling exactly this.
Potential buyers, who will mostly be strangers, will come and invade your personal space, after which they will find each and every fault with your house.
If you’re a first-time seller thinking of how you start to sell my house, there are lots of mistakes that you are likely to make.
Read ahead to discover how to avoid these pitfalls and sell my house fast.
1. Emotional involvement
As soon as you decide that you’re going to sell, detach yourself emotionally. Morph from homeowner to business man. If you look at the sale in a purely financial way, you’ll be able to avoid emotional distress.
Remember that you’re not only selling a house. Buyers will be looking for a certain image and lifestyle.
Try your best to project the image you think buyers will want to see. Put in extra money and effort to stage your house; it’s going to be worth it.
Estate agents will always take a huge chunk of your sale price, but they’re well worth the cash. A lot of newbies try to avoid agents in order to save money; this never ends well.
An agent will be able to find out a competitive price for your house. Agents look for people considering the question to sell my house & can also help you detach yourself further from proceedings by dealing with all clients themselves.
Estate agents will have more experience with pricing and are likely to get you more money than you would have on your own. They will also help you deal with any unforeseen problems that may come up during the transaction and will smooth the entire selling process.
It’s not a MUST that you get an agent!
Lots of people are able to go through the process of looking to sell my house without any outside help. It won’t be easy, but you can become one of those people. You’ll need to put in a lot of time and effort into the process, but it’s doable. You’ll have to put your house up on the MLS (Multiple Listing Service) of your area. You’ll also have to show the house to potential clients and negotiate the terms of the sale with the buyer’s agent.
If you decide to sell the house yourself, you should hire a real estate attorney who will guide you through the transaction’s finer points. Even if you pay the attorney, you’ll probably still end up saving thousands of dollars.
Many first-time sellers overprice their houses due to the sentimental value they attach to them. However, buyers don’t care about sentimental value and will simply walk past if they think the price is too high.
Unless there’s a housing bubble, you simply won’t be able to sell an overpriced house.
Don’t expect to get exactly what you wanted for your house.
Every buyer will try to haggle and bargain, and you’ll have to play along if you want to sell your house. Let your house’s listing price be at a point from which you can negotiate while still making a good profit.
However, the amount of money you’ll get depends largely on the market state and how you’ll have staged your house.
Why Buying Houses in Denver is Expensive.
Today we are witnessing an upward growth in the Denver real estate listing prices.
Buying houses in Denver is increasingly becoming more expensive.
In 2015 the average home prices increased by 11% to clock in at $ 310,000 according to Colorado Association of Realtor’s.
Homes in Strawberry Park Court; one of the suburbs in Denver, are among the priciest houses in the United States averaging at $12.5 million.
Herein are several factors that are responsible for this real estate boom.
1. POPULATION GROWTH IN DENVER.
In recent years Denver has experienced an influx of more people moving in than relocating. Colorado recovered fully from the recession and subsequently Denver witnessed a growth in job creation.
Younger professionals migrated there to find lucrative careers. Denver is an appealing city to many people and is becoming a hub for the tech industry.
It always features in the top areas to live in the United States. This is because Denver has a rich history and culture with a diverse population. Another reason why we buy houses Denver companies have made an increase in numbers throughout the State
Additionally, its public transport system is well developed giving home owners easy access to the amenities in downtown Denver. With a rise in population comes a subsequent rise in demand for housing pushing real estate prices up.
2. BIDDING TENDENCIES – DENVER HOUSES
With the influx of people willing to buy homes in Denver, home buyers don’t have the option of bidding under the listing price. Most real estate agents in Denver do not bargain or negotiate as a result (we buy houses Denver companies struggle because of this). They most probably have numerous competing offers over the average listing prices.
Denver’s listing service reveals that homes there today sit on the market for an average of 21 days. In early 2015 the average sitting days was 26 days. This shows that more people are buying houses in Denver despite the spiking prices. Shorter market sitting days push the prices up.
Moreover, Denver offers a wide range of architectural designs including condos, lofts, detached houses, old brick houses and mid-century type houses.
3. INCREASE IN DENVER RENT.
According to Ron Thoupe, the average rental prices in Denver have increased by 26% in the last 3 years. This can be attributed to the remodeling and redevelopment of the city suburb neighborhoods. Newer residents prefer renting to buying. Higher rent has pushed the listing prices.
The average rental price for a 3 bed roomed single detached house is about $1,700 going by a report compiled by Real Property Management Colorado.
What this means is that investors are quickly buying houses in Denver to convert them into rentals and this practice further increases the listing prices. Vice president of Coldwell Banker Residential Brokerage Kevin Risen says, “We buy houses Denver and get numerous offers when we convert them to rentals.”
4. LEGALIZED MARIJUANA.
The state of Colorado legalized marijuana in 2012. This has had an effect on Denver’s economic boom by creating more jobs further increasing its population. There has been a rise in growers, dispensaries and green house businesses drawing in more millennials to the area.
Considering their housing needs had to be met, the listing prices in Denver inevitably shot up. However, this is not a stand-alone factor but it has significantly contributed to the skyrocketing home prices.
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5 Tips For Selling Your House Quickly
If you are moving out of the area due to a job relocation, or you are simply retiring and you would like to sell your home so that you will have money to use in your golden years, selling a house as quickly as possible, for an amount that is reasonable, is actually very easy to do.
It really doesn’t matter what the market is, as you will always be able to find a buyer that is willing to work with you.
The goal is to find the right buyer, and someone that is willing to pay you what you are asking for the home that you are selling right now. You could go through a realtor, market this on your own, or hire someone else to do this for you.
There are tips that you need to use, strategies that will weigh the odds in your favor of getting your house sold as quickly as possible.
Here are five tips for selling your house quickly, ones that you can use starting today that can help you sell your home regardless of where you live.
Set The Right Initial Price
The price that you initially offer the home for may help you sell it very quickly. As most people know, you need to price it a little bit higher than what you actually want because the buyer is always going to try to haggle you down.
If they feel that they have gotten a great deal, or have their way with you through their feigned negotiations, it is very possible that they will be able to come up with the financing and give you exactly what you want for the house that you are selling, even though you priced it a little bit higher.
Improve Your Curb Appeal
Another tip that can work for generally anyone is to improve the way that their house looks when people drive by.
Curb appeal is what typically locks people in, makes them interested about what is on the inside, which can lead to an eventual sale. These can be very simple strategies such as mowing the yard regularly, trimming the bushes, or even adding awnings to your windows.
You could plant a flower garden, pave your walkway, decorating it with solar powered lights on either side. A more expensive solution would be painting the home, getting a new roof, or even adding vinyl siding.
All of these tips will help you improve the first impression that people will have of your house when they first see it, something that can motivate them to buy.
Improve The Interior
Although an entire home remodel project is not necessary, it is it a good idea to improve certain areas of your home.
A very simple idea is to get paint, and a couple relatives and friends together, so that the entire interior can painted right away. You could add new carpet, although this is very costly, but wallpaper in strategic locations can also improve the overall appeal.
You could get throw rugs for the hallways if you have hardwood floors, and add pictures to walls that are usually bear, making it look much more appealing.
Eliminate All Clutter
If you have a garage or two, and they are filled to the brim with all of the things that you simply cannot part with, and might be time to rent some storage space. You can also have a yard sale and quickly get rid of everything that you do not need, and free up all of that interior space.
You may have rooms that are dedicated to capturing everything that you really don’t use, but you can’t bear to part with at this point in time. Once all of this is cleaned up, your house will appear much bigger on the inside, something that people will definitely notice when they come over to do a walk-through of this house that you want to sell.
On top of using a realtor which will list your house, putting it on the MLS listings, you can do a little bit of marketing on your own. You can put a classified ad in the local newspaper, but an even better decision is to market your home on the Internet.
Although advertisements on Google can be very expensive, you can create a fan page on Facebook and do a Like campaign to get visitors to see pictures and videos of your home that may interest many people.
Social media has a way of helping people advertise, specifically when people like something and then share it with the people that are following them. You could create something very viral, and through this additional low-cost advertising, you can easily get more people looking at your home than by simply having it listed with a realtor.
These five tips should help anyone that is trying to sell a home quickly find the right buyer.
They will allow you to not only attract the right people, but to instantly impress them on the outside and the inside.
By pricing your home at a higher price point, this will give you the ability to get the price that you want, all the while making the potential buyer happy with their negotiations.
The strategies can work in any marketplace, regardless of where you live, helping you to sell your home as quickly as possible.
Here is a YouTube video outlining a few real estate selling tips – for this video, it is using your porch.