Selling a home in many areas of the USA at the moment is a gamble. It is difficult to decide whether or not to sell, whether to list at what you feel is the market price, or whether you should undercut the market price.
If you are planning to sell your home in Austin, one of things to ponder first is: do I really have to move? Is this a good time to move out of my house? If you are planning the move because you have to move right out of the area, then the choice is out of your hands.
But if you are planning a move because you need more space – can you extend your house? Can you build a garage with a room over top and run up a staircase outside? Would a sun trap conservatory satisfy the need for extra space – these are easier to pass through the planning permission process. Does your yard allow for a two story house extension to be built, it need only take up a small space in your yard. One large room and staircase going up to one other large room is ample for most people. You can always ‘knock it through’ to the main house and make the final adjustments after it is completed.
This type of extension is very popular with owners of the older one story homes, and the construction does not interfere in any way with your life (until the last phase). There is no plumbing or sewage work required, so it is not too expensive.
If none of these options work for you, and you need to move, then you must do some investigating into Austin real estate in your area. The real estate experts at Forte Properties will help you with this. When you contact us, we will let you know right away if we are working as the Buyer’s Agent for any home buyers looking in your neighborhood. You will need to know this, as some clients think this might create a conflict of interest for the agent if we are working for the buyer and the seller.
After you contact us, we will check through the listings for comparable homes in the immediate area. (Request a FREE Austin Home Market Analysis here.)You must take into account the yard, the condition and decor of the interior and exterior, the number of bathrooms and bedrooms and the newness of the appliances and accessories in both the kitchen and bathroom. Forte Properties has local experience and market knowledge to help you come up with a fair market price.
Some other factors will make a price difference such as vinyl clad windows, condition of the roof, also double glazing and whether there is a garage etc.
Once we have checked over several homes that have sold in your are and a few other factors, we will have an idea of the price that would be fair for your home. Another check that we will do for you is to see how far below the original listing price each property sold for. This gives you an indication of whether or not you can expect the same kind of discounted offer. We also take in to account the absorption rate of the neighborhood. The Absorption Rate is the ability of the real estate market to absorb or sell all of the houses for sale in a given amount of time in a particular neighborhood.
We always recommend listing your home at a realistic price to start with, than to have to reduce the price two weeks after it is on the market. If we don’t have at least 12 showings in 2 months, chances are the price of the home needs to be reduced drastically. Incorrect overpricing of real estate is the #1 reason why homes do not sell. (View Article: How to sell your Austin house fast… Realistic Pricing!)
When you get an offer in, do not feel insulted if it is too low. Often a prospective buyer will come in low, just because the first offer is one way to get the negotiating started. If you want to more or less stick to your asking price, you can ‘counter-offer’ with a price that is only $500 or $1,000 less than your asking price; your real estate agent will probably be able to advise on the prospective buyer’s situation. However, the agent does not know everything, and often a buyer can suddenly come up with more cash! The Certified Negotiation Experts at Forte Properties know exactly how to negotiate a real estate transaction to ensure you receive the best terms possible.
Another point to remember is that sometimes a buyer will leave the bargaining table, but after a check around the market, he or she may well come back and re-enter the fray!
If a sale looks imminent, but is failing to complete for the lack of a few funds, ask us to explain to you about ‘seller’s contribution’. Sometimes it makes sense to bend a little and secure a definite sale in this unstable housing market! Especially if it could make the difference between no sale and the payoff you’ve been looking for.