THE SECOND STEP (SELLING YOUR HOME FOR MORE)
Prior discussion showed that there is no calculable certainty in setting the value of a home. There can be wide differences between the seller’s tax assessed price, typically only 70% of the market value, the asking or listing price (market value), what you hope to get, and the price at which the home sells (sale price), what a buyer is willing to pay for your home. Let’s turn to what the homeowner/seller can do to elicit offers at, or even above, the listing price in a competitive market. The seller’s time, effort, and investment are the most important parts of the process. The seller’s willingness to adequately prepare the home for presentation — and willingness to live in that pristine state for the time it takes to sell the property — will greatly affect both the sale period as well as the price at which the home sells. A market in which homes normally sell in no more than six months of listing is considered balanced or neutral, which means a good number of homeowners are selling and buyers are purchasing; therefore, neither has an upper hand. New Hampshire real estate currently is a balanced market now in 2023-2024. A variable, for instance, like a major company entering — or moving from — the area will tip the scale toward homeowners to make a swift market or toward buyers to make a slow market. The typical selling time in a swift market might be 30 days, while that of a slow market may be up to nine months. Currently, in 2023-2024, real estate in Connecticut and Massachusetts are seller's markets because there are several buyers looking to buy only a few available properties in that location, and therefore the homes sell in just a few weeks of going on the market. An exception to both market rules is outdated, unkept, homes in disarray that need several thousands of dollars
8
Powered by FlippingBook