A lot of attention is given to the first-time homebuyer, but what should you know if you are selling your home for the first time? During the housing decline, a lot of homeowners dreamed of becoming move-up buyers but were held back by negative equity and a slow market. Selling a home in the Libertyville, Illinois area still takes a lot of insider knowledge of the local real estate market. Sheryl Allen, an experienced Coldwell Banker real estate agent, has been guiding first-time home sellers through what some call the real estate jungle. According to a recent article by Bankrate.com, the housing market today is significantly different than that of your parents or grandparents. Some sellers today may have to consider paying money at closing, throwing in buyer incentives to sweeten the pot and investing in staging or renovation so the house is camera ready. When it comes to selling your home in the Libertyville area, there are ways to get an edge over the competition as inventory of available homes continues to increase.
Setting a realistic price
Sheryl Allen can recommend a realistic price so you can take advantage of the rush of interested potential buyers in the first two to three weeks of listing the home. Some first-time sellers make the mistake of asking too much for their homes and losing the momentum created when a new listing first hits the multiple listing service systems. The realistic market value of your home isn’t tied to the assessed or taxable value of your home, but is influenced heavily by the pattern of sales in your neighborhood.
Throwing in the extras
Buyer incentives can attract more prospective buyers to your home showings and open houses. Sometimes, it may pay to price your home slightly higher, but throw in buyer incentive such as assistance with closing costs, new appliances or a decorating allowance. Some first-time sellers throw in fun items to attract younger buyers such as flat-screen televisions or even a car. If you own a starter home, you may want to consider incentives that would appeal to your typical buyer.
People who have bought and sold homes several times already know the drill. It’s essential to clear the clutter, do deep cleaning, get pets out of the house and remove anything too personal. First-time sellers can have some fun by helping to stage by putting out cookies and fresh flowers or creating little vignettes such as a game of chess in progress. When arranging furniture and decorating, focus on cozy instead of cramped.
Sheryl Allen provides one-stop real estate services in Libertyville as well as Grayslake, Buffalo Grove, Vernon Hills, Lincolnshire, Lindenhurst, Gurnee, Mundelein, Long Grove and other areas. For advice on how to spend your renovation dollars to improve the market value of your home and how to get your home sold quickly, please contact Sheryl today.