Why do some homes sell faster than others?

(Tampa, FL)- Why do some homes sell faster than others?  Everyone buying or selling seems to think they have the answer.  One always hears location, location, location.  We also hear schools, schools, school.  Beyond that, are there many good reasons why your home is not selling as quickly as your neighbors?  Hedstrom & Stamm’s home solutions team did some research to tally up what most experts say.  We came up with a top five list to share.

Top 5 things to do to make YOUR home sell faster:

Curb Appeal

A study by Zillow shows that realtors named curb appeal as the number one factor affecting the amount of time your home is on the market.  This means sweeping the front porch, replacing light bulbs in exterior lights and clearing the front porch can make all the difference. As the Real Estate Agent is gaining access to the home the buyer has time to look around. You can be sure they are noticing if the exterior is clean, and the plants are well cared for. This will leave the impression that your home is cared for inside and out.

Differentiate From the Neighbors

According to Investopedia, in order to attract attention and to make your home more memorable, consider custom designs or additions, such as landscaping, high-grade windows or a new roof. This can help improve the home’s aesthetics, while potentially adding value to the home. Any improvements should be practical and use colors and designs that will appeal to the widest audience. In addition, they should complement the home and its other amenities, such as building a deck or patio adjacent to an outdoor swimming pool.

However, while it can pay to spice up your home, don’t over-improve it. According to a 2013 article in Realtor Magazine, some renovations, such as adding a bathroom or putting new shingles on a roof, might not always pay. The data suggests that the nationwide average amount recouped for a bathroom remodel is about 58%. For a new roof, it’s even less. If you’re going to invest in home improvements, do your research and be sure to put your money into the things that are likely to get you the best return. In addition, if you have added any custom features that you think buyers will be interested in, make sure they are included in the home’s listing information. More than ever, in a down market you should take every small edge you can get.

Quality Photos and Videos
A study by Trulia.com shows that listings with more than 6 pictures are twice as likely to be viewed by buyers as listings that had fewer than 6 pictures. It is so important to have quality photos that really tell the story of your home.  A Redfin study says that: Homes that are marketed with professional photos sold faster, and for $3,400 to $11,200 more than homes presented through amateur photos.  This is good food for thought!

Staging

At the very least, you MUST declutter your home.  It’s not easy but it’s a must do.  Buyers want to be able to picture themselves living in your home.  There is a method to the madness when your realtor asks you to take down personal photos.  Ask your agent if they offer a staging program to help you make the most of your home’s looks. Florida Realtors recently published an article stating that “staged” homes spend 73% less time on the market than non staged homes.

Proper Pricing

Today’s buyers are very educated about the comparable sales in the area, which heavily influence the fair market value of your home. And they also know that they’re in the driver’s seat, according to a recent Reader’s Digest article.  To make your home competitive, have your broker or agent get you the sales prices of the three most similar homes that have sold in your area in the last month or so, then try to go 10-15% below that when you set your home’s list price. The homes that look like a great deal are the ones that get the most visits from buyers and, on occasion even receive multiple offers. (Bidding wars do still exist!)

Still have QUESTIONS about your home?  CONTACT US….We can Help

About Toni Hedstrom

Toni Hedstrom is founder of GoToni.com and partner of Hedstrom & Stamm Home Solutions LLC.