Lake Minnetonka home selling needn’t be a lengthy process. Pricing your home correctly will help it will sell quickly and at a good return on your investment. The best method to use to establish a price is to look at recent sales of similar homes in your market. This research along with the expertise of a knowledgeable real estate agent will prepare you for a successful sale. Consider these Lake Minnetonka home selling tips.
6 Lake Minnetonka Home Selling Tips
Look at recent comparable sales. In a changing real estate market, look for comparable sales occurring in the past three months. Sales much older than that may mean a contract was signed months earlier than the sale was closed. Generally, a sale that’s over six months old probably isn’t a good indicator of current market conditions.
Recognize that finishes and fixtures make a difference. Buyers today look for newer or renovated homes with neutral paint colors. They consistently sell faster and more often than older-looking homes that haven't been updated. Take that into consideration when comparing your home to renovated ones. If it doesn't meet the same standards, it probably won’t sell for as much. Consider renovations or upgrades. The difference in the sales price of a renovated home and one sold "as is" will be substantial. It will likely cost less to do the remodeling.
All homes are different. Just because your home is the same square footage and has the same number of bedrooms and baths as a home that just sold doesn’t necessarily mean your home will sell for the same amount. The floor plan, age, functionality and lot size will have an impact on what your home should sell for. Buyers are looking for livable floor plans and what designers call “flow.” A home with an open kitchen/living area with three bedrooms and two or three baths is more attractive than a home that’s chopped up, doesn’t flow well and has fewer bedrooms and baths.
Pay attention to the little things, they may affect price. When you’re weighing comparable sales, make sure they are really comparable. A home close to yours may not be in the same school district or on the same tax map, affecting the value one way or the other. A smaller home that sold for, say, 20% more could have been on a larger lot — or double lot — that may have been divided, making it more attractive to a buyer. Pay attention to prices that are too high or too low. With a little more research and with the help of your agent you may determine those homes are not true comparable.
Visit homes for sale. Checking out the competition in your market will help you greatly. Go to open houses and take sales tours. Ask questions to determine how the homes compare to yours. If you’re planning to list your home in April, visit homes for sale in January or February. They will likely be under contract or closed when your home hits the market. If they are still for sale, chances are they were overpriced.
Your agent is a valuable resource. The sooner you add a qualified real estate agent to your team, the better. Good agents show properties on a regular basis and are intimately knowledgeable about the local real estate market. They can also explain pitfalls to avoid and offer tips to stage your home to show best and ultimately sell quicker and for the highest price.
Remember, selling your home is ultimately your responsibility. Follow these Lake Minnetonka home selling tips. Use your agent for his or her expertise, but do you own independent research. You’ll be more confident in the process and happier with the outcome.