As always three factors govern a sale: location, condition and price. If you are a seller in Fountain Valley and your home has been on the market for more than 30 days without an offer, it’s time to examine the reasons why and take action. If your house has an interior location in the tract and does not back or side to a busy street, then you have a good location. A cul de sac is a premium location.
Do you wonder why some homes sell and others don’t? In the last nine months I have listed and sold three homes within 45 days that had languished on the market for 9 months, 8 months and 6 months respectively with other agents. The houses had been priced correctly and each had an excellent location. In each case the condition of the homes was a negative factor. It wasn’t that the homes were in bad repair or needed paint or new flooring, oftentimes it was just a matter of removing clutter, re-arranging furniture, removing wallpaper and de-personalizing the home. By depersonalizing the house the buyer can then focus on the amount of space available for their furnishings. There is a difference between livability and marketability. When you place your house on the market, it becomes a product. It’s important that you divorce yourself from the emotions connected to the house and focus on the business of selling it.
Sellers must employ the 6 “p’s” in this slower market. Proper prior planning prevents poor presentation. I educate my seller clients about the importance of seeing the house through the eyes of the buyer. Staging a house prior to putting it on the market will generate more agent and buyers showings. The end result is that the house will sell faster, for a higher price and oftentimes with multiple offers. I will happily share my list of staging companies and tips for preparing your home for sale. Once the house is in escrow, it’s the appraiser’s estimated value that will determine the amount the lender will provide the buyer for the purchase.
The criteria the appraiser will use to assess your home’s value will include homes that have sold within a mile of the subject property. He or she will also compare square footage, usually using properties that are within 200 square feet of the home for sale and he will compare those homes that have sold within the last six months. The appraiser will also factor in upgrades to the property. It’s always a good idea to keep your receipts and provide a list of any major upgrades or remodeling to the appraiser.