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- What you should look for when choosing an Events Planner
- Your Dream, Your Way Made Easier With a Professional Bridal Consultant
- REAL ESTATE
- How to Get a Pre-Crash Price for Your Lynchburg Home Sale Now
- 2008 First Time Home Buyer Tax Credit
How to Get a Pre-Crash Price for Your Lynchburg Home Sale Now
05/08/2009 - By ARA Lynchburg Real Estate
No argument -- the Lynchburg real estate market is tight. But home sales are still happening because people will always need a place to live.
Buyers snapped up more than 4 million homes in 2008, despite a down Lynchburg real estate market. If you’re selling, you know that every dollar counts when it comes to getting top dollar for your home, and keeping as much of the sale price as possible.
Since it is a buyer’s market where there are plenty of homes available, it’s important to be aggressive and make your home stand out. Here are some tips:
Price it Right
Price your home aggressively. In this market, buyers are looking for the best deal possible so the more competitive you can be at pricing your home, the quicker it will sell. Homes that go on the market priced above similar homes tend to take longer to sell. So make sure you price your home right to move it fast.
Remember, the market dictates the price of your home, not what you think it should be worth. Use the Internet to research the sales amount of similar homes recently sold in your neighborhood. Get an online appraisal to give you a solid idea of where your home should be priced.
Make a Great First Impression
Today’s buyers are attracted to open, clean, spacious and updated homes. Remove personalized items such as family photos and clear all clutter from countertops, closets, tables and floors. Simple improvements like fixing broken tiles, cleaning carpets and repainting walls in neutral colors can greatly enhance the appeal of your house.
If you’re having an open house, remove all evidence of pets (dog kennels, cat boxes, hamster cages) and make sure the house smells great by baking a batch of cookies or lighting a scented candle. If ever there was a time for a thorough top to bottom cleaning, this is it.
Consider Your Selling Alternatives
Recent studies from Northwestern and Stanford Universities have found that “by owner” sellers are as effective as agents in maximizing a home’s sales price. After commissions are factored, the studies reported, these sellers are able to retain more of their home’s equity than those who sold with an agent.
Furthermore, Consumer Reports magazine found that “for sale by owner” (FSBO) sellers are more likely to get their asking price.
Using a service like ForSaleByOwner.com helps you avoid paying an agent’s commission while still getting support every step of the way. The site is one of the largest and fastest growing Lynchburg real estate websites with thousands of buyers visiting it each day. Using ForSaleByOwner.com also allows you to advertise your property on Realtor.com, the country’s most popular Lynchburg real estate website with more than 5 million monthly visitor.
It is also wise to hire an experienced Lynchburg real estate attorney to help you evaluate complicated offers, act as an escrow agent, review contracts and handle your home’s closing process. Unless you’re significantly experienced in the home selling process, having a Lynchburg real estate lawyer on your side ensures that someone is looking out for your best interests. A lawyer will only cost a few hundred dollars and, as Healy advises, is money well spent.
