Pricing your home to get the highest offer

The best way to get the most money for your home is to price it right at the start. Today’s buyers are discerning. They have the information at their fingertips to pay what they believe your home is worth. Ultimately, a home’s value is what a buyer is willing to pay rather then what the selling thinks their home is worth.

Here are 10 benefits to right pricing:

  1.  Each new listing creates a buzz in the local real estate community. The right price will generate more calls and inquiries, and attract more Realtors to show the house.
  2. The right price will send the message to buyers that the price is based on actual value rather than sentimental value.
  3. Homes tend to sell closer to the asking price during the first few weeks on the market, resulting in a higher price in a shorter time.
  4. Fewer mortgage payments and less interest paid means more money in your pocket.
  5. The right price sends the message to the buyer that your home is a better value compared to others on the market.
  6. Less time on the market means less time keeping the home ready for showings.
  7. In a fluctuating market, it is better to sell now as prices may decrease even more.
  8. The longer the house sits on the market, buyers may think there is something wrong with the house.
  9. Keep your ultimate goal in mind – selling now means moving on with your life.
  10. There is never a second chance to make a good first impression.
Selling a home in NW Wisconsin? Send me an email or give me a call at 218-590-6634. I’ll be happy to provide a current price analysis to give you an idea of what your home will sell for in the current market.
 

6 ways to make a great first home selling impression

You won’t have a second chance to make a good first impression. When everything in the front of the house is in perfect repair, buyers will think your house is obviously well cared for. 

  • Your front door can be your home’s focal point. Replace an old door with peeling paint or dated hardware with a new steel door. Or, salvage the door with a fresh coat of paint and new hardware. Satin nickel, black, and bronze are the trends.
  • Wash windows inside and out and remove screens for added sparkle.
  • A garage can make a big impact. Replace or paint the door.
  • Don’t overlook the front porch. It’s an iconic symbol of American living. Stage a rocking chair or outdoor table and chairs.
  • Driveway. Repair cracks and clean up oil stains. If budget allows resurface the driveway.
  • After dark. Portable outdoor lights aimed at the house or a beautiful tree offers a low-cost, high-impact effect.

Selling a home in NW Wisconsin? Send me an email or give me a call at 218-590-6634. Or, email me: jeanhedren@edinarealty.com. I’ll be happy to provide a current price analysis to give you an idea of what your home will sell for in the current market.

Examples of green home features to help sell your home

The U.S. Department of Energy lists several key features of an energy efficient home. Home sellers, be sure to highlight these features to attract buyers. The infographic at the left (courtesy of National Association of Realtors) shows how buyers rate the importance of green and energy efficient homes.

  1. Appliances and electronics – shop for appliances with the Energy Star logo. Energy Star brand offers a higher energy efficiency rating than the government standard.

2. Insulation and heating/cooling temperature control. The Department of Energy has determined that 56% of home energy costs go to heating and cooling. Improving the insulation in your home and installing a programmable thermostat can be an energy cost saving.

3. Water heater. Keeping the water heater in good working order, or replacing  with an energy efficient model can have a positive impact on your utility bills.

4. Lighting. By switching all lighting to LED or CFL lights, you can use half the energy of incandescent bulbs for 10 times the life.

Selling a home in NW Wisconsin? Send me an email or give me a call at 218-590-6634. Or, email me: jeanhedren@edinarealty.com. I’ll be happy to provide a current price analysis to give you an idea of what your home will sell for in the current market.

Tips for a NW Wisconsin real estate market in transition

I have several buyers who are patiently watching the MLS listings for an especially good deal.  I’ve also been passing along listings that seem like a good fit.  Sometimes buyers have been ready to move quickly, and that’s paid off.

Other buyers were busy with work and family commitments, and they needed to wait a couple weeks before we could schedule a showing.  Sometimes that still works out.  But other times I’ve requested a showing and learned that another buyer has just made an offer that’s already been accepted.  Notice a pattern here???

I’m a Realtor, and of course you’d expect me to say that right now is a great time to buy or sell.  But the thing is, right now that’s especially true.  Consumer confidence is up, we’ve been seeing some promising economic indicators, interest rates are still low, and our Northwestern Wisconsin real estate market is moving faster than the snow was melting this spring.  (April 25 update: snow is gone, lakes are mostly open.) That’s good news for buyers and sellers alike.

If you’re a seller, you’ll still be facing some competition.  There’s a lot of inventory out there, and it’s important to have realistic expectations about what your home, cabin, or land is actually worth in today’s market.  But prices are more stable; homes priced correctly for the local market are selling quickly. Homes priced on the high side are languishing.

And if you’re a buyer, here are some tips to keep in mind during this transitional market.  Even if our market here in NW WI isn’t white hot, it’s at least warming up enough so you’ll need to let go of certain assumptions that are no longer valid.  If you find something you like and it’s a good value, don’t assume no one else has noticed it and come to a similar conclusion.  Instead, please call me so we can schedule a showing now.

If we go take a look and you like what you see, don’t assume you’ll be able to think things over for even a couple weeks before you take a second look.  Someone else with similar tastes may have also seen this home or cabin for the bargain it is.  By the time you’ve taken two more months to think it over, their moving van could already be backing up to the front door.

Finally, here’s one last bit of advice.  Pursue perfection, but prioritize your wants and needs.  Now, not all of my buyers have the same dreams.  Some, for example, want a sandy beach, while others want a small quiet lake that’s better for fishing and watching wildlife.  But when you do find the location that’s just right for you, you can always remodel the bathroom or replace that pink carpeting in the guest bedroom.  Know what matters most, and know what you want so you’ll be ready when you see it.

Thinking of buying or selling real estate in NW Wisconsin? Call Jean Hedren, Edina Realty NW Wisconsin, 218-590-6634. Email: jeanhedren@edinarealty.com.

10 reasons to hit the right home selling price

Pricing your home right from the start can result in a quicker sale. 

  1. Strategic pricing that’s based on a thorough, up-to-the-minute market analysis. If our price is too low, we leave money on the table. If our price is too high, we leave your home on the market unsold. Later, it’s likely to sell for less than it would if we priced it correctly from the start. A strategic, fact-based listing price that helps your home get noticed and sell more quickly for the best possible sale price.
  2. Each new listing creates a buzz in the local real estate community. The right price will attract more Realtors to show the house. The right price will generate more calls and email inquiries.
  3. Homes tend to sell closer to the asking price during the first few weeks on the market, resulting in a higher price in a shorter time.
  4. Fewer mortgage payments and less interest paid means more money in your pocket.
  5. The right price sends the message to the buyer that your home is a better value compared to others on the market.
  6. Less time on the market means less time keeping the home ready for showings.
  7. In a fluctuating market, it is better to sell now as prices may decrease even more.
  8. The longer the house sits on the market, buyers may think there is something wrong with the house.
  9. Keep your ultimate goal in mind – selling now means moving on with your life.
  10. If there are no showings, the price is too high. If there are several showings but no offers indicates good marketing, but buyers will react to overpricing when they step into the house.

Request a free home evaluation. 

12 interior home remodeling projects with highest returns

If you are thinking of selling your home and need to do a few updates first, The National Association of Realtors Remodeling Impact Report of 2017 offers data on the 12 interior projects worth doing that will result in the highest return on your remodeling dollars.

Complete kitchen renovation, kitchen upgrade, and bathroom renovation rank the highest of most likely adding value to the home for sale.

 

Rank of projects highest to lowest (2017 Remodeling Impact Report):

  • Complete kitchen renovation
  • Kitchen upgrade
  • Bathroom renovation
  • Add new bathroom
  • New master suite
  • New wood flooring
  • HVAC replacement
  • Hardwood flooring refinish
  • Basement conversion to living area
  • Attic conversion to living area
  • Closet renovation
  • Insulation upgrade

Thinking of buying or selling real estate in NW Wisconsin? Call Jean Hedren, Edina Realty NW Wisconsin, 218-590-6634. Email: jeanhedren@edinarealty.com.

How do I prepare for a home showing?

What is a home showing?

During a home showing, buyers can tour each room of the home, and they may even peek into closets or check that light switches and other appliances work. It can feel invasive, but it’s important to remember that each person who enters your home is considering a major investment. By allowing them access to each room and space, you may help them get closer to bidding on your home.

Who is present during a home showing?

The buyer and their agent will typically attend a pre-scheduled home showing. In some cases, the seller’s agent (also called the listing agent) may be there to let them in.

More commonly, your listing agent may provide access to buyers and their agents using a secure lockbox. This allows your listing agent to accommodate more showings than if they needed to be physically present for each one.

How long do showings last?

If a buyer is looking for a certain feature that your home doesn’t have — like a split-level floor plan or a master suite with a walk-in closet — they may simply walk in and out in a matter of minutes.

However, today’s buyers are tech-savvy and the vast majority are looking at homes online before viewing them in person — and ruling out homes before they ever enter them. As a result, many buyers who attend a showing at your house will be quite familiar with the property’s layout and features from the listing photos. They may be there to explore specific areas they liked, or to verify the house is as great as it looked online.

If a buyer is seriously interested in your home, they may spend up to an hour in your home as they:

  • Tour each room, nook and cranny
  • Explore the attic or basement
  • Measure rooms to see if their furniture would fit
  • Discuss options for renovations or small upgrades
  • Begin to determine how each room would be used

It’s also common for early-stage buyers to schedule several back-to-back showings, knowing they will schedule a second showing for the homes they like best. So as a seller, don’t be too discouraged if a potential buyer is in and out in 20 minutes. They may just be getting a feel for the market — and they may be back if they find your home stands out among other contenders.

How do I prepare for a home showing?

You’ll already have prepared your home’s interior and exterior before listing so it’s mostly a matter of tidying up the house so it looks as good as your listing photos.

Consider writing out a quick checklist for each room, including:

  • Bedrooms: Make the beds, empty the hampers, clear surfaces, leave nothing on the floor
  • Bathrooms: Tidy countertops, empty the trash, hang fresh hand towels, clean the toilet
  • Living room: Remove clutter, rearrange pillows and throw blankets
  • Kitchen: Tidy countertops, empty the trash, no dishes in sink or dishwasher
  • Entryway: Have a designated place for visitors to place their boots and jackets, if you’re selling in the fall or winter
  • Exterior: Clear driveway and sidewalks from snow and ice, turn on exterior lights
  • Daytime lighting: For daytime showings, open up your curtains to let in natural light
  • Nighttime lighting: If they’ll arrive after dark, turn on interior and exterior lights

Ready to sell? Looking for help?

If you’re ready to sell your home, reach out any time to get the process started.