A fast sale doesn’t necessarily involve significant price reductions. Granted, for most home owners, selling my house fast means selling cheap. But that doesn’t necessarily have to be the case. The real estate market is on a slow but steady pace of recovery and there are clever ways of ensuring that you don’t lose out on a good deal.
Having an honest discussion with a SellMyHouseDallas.com professional can offer you a lot of insight into the entire home selling process. Even so, it’s always good to come prepared and proper research is paramount when planning to sell your home.
Selling My House Fast: Explore the Real Estate Market Critically
Home sellers and buyers turn to real estate websites for valuable information. Yet this information has to be accurate and timely for home sellers to actually benefit from their visit. The question is whether home sellers should turn to local or national portals when conducting this research.
Become acquainted with median home prices and average listing prices
Average home listing prices map, image courtesy of Databison
In most of the US, home prices are on an upward trajectory and even in the last months of 2015, they seemed to be continuing their growth. Despite this trend, Texas is still among the five lowest-cost metro areas with a median price for a single-family home in the fourth quarter of 2015 not exceeding $101,900.
Base your research on timely and correct listings
Redfin ran a massive data quality study focused on answering this precise question and concluded that out of a sample of over 6,400 home listings in over 30 zip codes and 11 metro areas, local brokerage sties were more accurate, more complete and presented new listings much faster than national websites. In fact, newly-listed homes are featured on local brokerage sites 7-9 days faster than national portal sites. So if time is of the essence, you’ll be better off using local listing sites to get a feel of the market.
Take so-called “bargain deals” with a grain of salt
Now, when determining the value of a home, you’ll also be looking for information about the sold properties in your target area. Just knowing the median sales price for a home in Dallas ($134,200 for January 2016) isn’t enough. You’ll have to be thorough and not be fooled by so called “bargains” which are often nothing more than a smoke screen. In fact, a study conducted in the Denver area proved that 45% of bargain listings come with no difference in price, yet the mere term “bargain” could set your home’s value back a at least 10-20K. If you’re set on lowering your home’s price, remember that real estate agents are motivated to set a competitive price (since they will be commissioned in accordance to the house’s selling price). SellMyHouseDallas.com professionals will help you decide on a price that is fair according to the current conditions of you house.
Minor Improvements for Major Returns
Home buyers will gravitate towards homes that are maintained and well cared for and, even if they don’t care to admit it, they do judge on first impressions. For eager home owners, “selling my house fast” rarely translates into home improvement, however, there are minor improvements that can significantly increase a house’s selling price.
- Get people through the door by updating your home’s exteriors
For people to visit your home, you’ll have to ensure that it is appealing on the outside. Now, this doesn’t mean that you have to undergo massive remodelling, but applying a fresh coat of paint, keeping your lawn lush and green, and trimming overgrown trees and bushes- these are all tiny improvements that go a long way. Also, consider a bit of landscaping: freshly planted flowers and a beautifully staged porch will look immensely inviting to potential buyers.
A before and after shot showcasing the effects of minor landscaping on a property’s curb appeal (image courtesy of Infotube)
You can also consider professional roof cleaning services to help liven your home and give it a fresh look. Our consultants at SellMyHouseDallas.com will be more than happy to discuss what improvements could work for your property.
A before and after picture showcasing the importance of a fresh-looking roof (image courtesy of OvertheTopRoofCleaning)
- Strive for an immaculate kitchen
The kitchen is the heart of a home and, as such, it should receive preferential treatment. Now, this doesn’t mean that you should go all out on renovations but make sure that there’s no chipped paint to be seen, that appliances are spotless and that the room feels spacious and inviting (make an extra effort to reduce clutter, store appliances away and leave the counters clean and open).
- Consider partial renovations when necessary
There’s no need to gut an entire bathroom, however, refacing your tub is a low-cost, high-impact move that could win you a lot of points with prospective buyers.
Before and after shot of a bathroom resurfacing (image courtesy of UniqueStoneResurfacing)
Similarly, instead of replacing old cabinets, you could simply improve the countertops- a low cost improvement that will surely look wonderful.
Home Staging: The Unsung Hero of Fast Home Selling
At the end of the day, it’s all about profit and, in that case, home staging is worth considering. Statistics show that staged homes sell for 6% more than the asking price and spend half the time on the market. A survey conducted by Coldwell Banker Real Estate Corp. concluded that home staging (an investment of approximately 1 percent of the home’s asking price) results in an 8-10 percent return of investment. More importantly, a staged home sells in half the time of non-staged homes. That’s certainly a win-win.
Another 2011 study sought out to investigate what would happen if 174 unstaged homes would be staged and relisted. The unstaged homes had spent, on average, 156 days on the market. After staging and being relisted, the homes sold in an average of 42 days. That’s 73% less time on the market. Factor in mortgage and utility costs and you’ll notice that you can save over $2,000 from just staging the home prior to listing (source).
Sell Your House Now!
No matter the reason why you’re seeking to sell your house fast, SellMyHouseDallas professionals will ensure that you strike the perfect balance between quickness and a fair price. So skip the hassle of selling a home by yourself and don’t fall into the common pitfalls of a customary home sale. Help us help you by getting in touch today.
It only takes a couple of seconds to fill in your information and you’ll be able to gain access to experienced Home-Buying Professionals, plenty of educational resources as well as a vast pool of investors seeking prime properties. Our representatives analyse each case individually and come up with the best solutions for you. For an even faster services, visit our website at SellMyHouseDallas.com or call us at 972.412.8100.