Six questions to answer if you plan to sell your home in 2008

It’s hardly news by now – the real estate market has slowed down nationwide. Some areas are doing better, and we are in one of those areas, but it’s still harder to sell your home than it might have been two or three years ago.  

But what if you plan to sell in 2008 anyway? What can you do to tip the odds in your favor? Here are a half dozen questions to answer before you list your home:  

1. Where are you going? It may seem obvious, but if you’re moving away from your current hometown, you need to know where you will end up. Don’t wait until you have a contract on your house to begin researching neighborhoods where you plan to move. If your move is for business, take advantage of any help your employer can give for the relocation process. Or if you are retiring, take the time to visit the new area several times and get to know it before you decide on where you will live.
2. How quickly do you want or need to sell? If you need to sell quickly, you’ll want to let your real estate agent know that, and you will need to take that urgency into consideration in setting your asking price. Or, if you can wait six months or longer, that could change the way your home is marketed and priced.
3. Is your home ready for its close-up? Do not let anyone see your home until you have done all the repairs, clean up, painting, and so forth to make it truly sale-ready. In a competitive market, your home needs to be better than just clean and neat. It needs to be as close as possible to “model home” attractive. Your real estate agent will have advice on getting your home ready that may include removing many personal items and even storing some furniture to make the home appear more spacious. Listen to your agent’s advice – it could mean more money in your pocket.
4. Do you have a realistic view of the current market? With rare exceptions, the days of houses selling in a week or less are gone. Pricing your home realistically for the market that exists today will give you an advantage when compared with other homes on the market. Your professional real estate agent will know the market in your neighborhood; listen to your agent’s advice and discuss your financial needs openly.
5. Do you know your “walk-away” price? Before putting your home on the market, figure out what the minimum price is you will accept. This will depend on your mortgage balance and other factors such as your expected closing costs and concessions to the buyer. Since you can expect to be negotiating with buyers, it’s important for you to know the lowest price you will accept.
6. Do you have a full-time professional real estate agent looking out for your interests? There are many things you can do successfully yourself to get ready to sell your home. But when it comes to knowing the market, negotiating for your best deal, and handling the paperwork that will get you to settlement, you will come out ahead when you use a professional agent to represent your interests.  

With more than 20 years of experience in the local market, the "Special" Ed Haraway Team has knows how to help you sell your home and negotiate your best deal. We’ve earned the title of "The Realtors Who Treat You Special!"

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