Selling your home is one of the most stressful undertakings a person can do. It's right up there with death and divorce! Much of the stress comes from the combination of the unknown and the fear of costs associated with getting help when selling from a great Boise real estate agent. FEAR can be an acronym of "False Expectation Appearing Real." When it comes to Nampa ID homes for sale, they all pretty much face the same challenges and processes. In fact, there are 5 things every home seller must do to sell their home.
1. Get Your Payoff Amount From Your Mortgage Company
Before you begin the process of selling your home you should at least know what the total amount is. You should know that the amount you owe on your mortgage statement isn't the exact amount that you actually owe. If you want to get more exact numbers you'll need to call them and request a payoff amount. This will cause them to send you a letter giving you the actual balance as of a certain date. If you're ok with estimates then your statement should be a good enough number to work with.
2. Check The Nampa or Boise Real Estate Market
Getting an overview of the real estate market can really help you get an idea of what's going on. Look for the median price point of Boise homes for sale. Where is your hopeful price for your home on this scale. This will help you figure out if your home will sell faster or slower than the average days on the market. The more local the information the better. Sales data from your neighborhood is going to be much better than just using Boise. This is why using a real estate agent can be so helpful early on. They have access to the data more easily.
3. Look At The Homes In The Price Range You Want To Sell In
See what your competition is up to. If you are selling your home for $265,000 then look at homes around that price. Look $10,000 above and below. Would your home beat the homes in that price range? Are you the best on the market. Here again, real estate agents like Sweet Realty Group have this information and have been in many of these homes and can help you.
4. Be Ready To Upgrade, Repair Or Reduce
For higher returns, repair only what's necessary and upgrade areas of your home that offer the most return during your sale. Address issues like leaks, water stains, peeling paint and scratched up wood flooring. Update grout, an outdated kitchen, and bathroom fixtures. Avoid a full renovation to avoid overcapitalization, where the sale value of your home is less than what you've spent renovating it. This is where paying attention to your competition comes in handy. If your competition has marble countertops and you still have tiled countertops it's probably time to update to a stone countertop.
5. Set a competitive asking price
This means your listing price should be close to that of comparable homes on the market but slightly higher to make a good profit. To get this right:
- Look into comparable listings and sales within a ¼-mile to a 1/2-mile radius. Also, look for homes that sold in the last 6 months.
- Check out homes that have been sold and compare final sale price vs. original list price
- Dig into the history of listings that have expired or have been withdrawn and ask yourself why? (hint: It's usually price)
- Look into prices of active listings and pending sales (as suggested above)
OR Hit the "EASY" button - Let a real estate agent help
There are a lot of factors that go into the sale of a home. Many people might choose to do this on their own. According to the National Association of Realtors, about 8% of homes sold in 2016 were through For Sale By Owner (FSBO), with yard signs as the most effective method. Not only that but those that did sell their home this way often sold for 12% less than if they hired an agent. See, that FEAR is false! Moving isn't going to be easy no mattter what happens, but the most convenient way to sell your home is always going to be hiring an agent.
When choosing an agent, make sure they are:
- Experienced and well-versed in the local real estate market
- Has a proven track record of getting positive results fast
- Always has a direct line of communication
- Most importantly, work with someone who will take care of you from the beginning of the sale right until a deal is closed.
The professionals at Jeff Sweet Realty at Silvercreek Realty Group will do just that. Contact Idaho’s top real estate brokerage company today to get started.