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Sellers: It pays to be prepared

Sellers: It pays to be prepared

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Published by Tara Kelleher
RepRinted With peRmission - Quintessential BaRRington magazine - CopyRight © 2008

Re al Estat e

BY TARA KELLEHER

Sellers: It Pays to Be Prepared!
Spring is a great time to take stock of the state of your real estate and start preparing your home for sale. Considering the current climate, which includes a pent-up demand for housing, a market correction, and record-low interest rates, now more than ever it pays sellers to be prepared. Lawrence Yun, chief economist of the NAR (National Association of Realtors) reported earlier this year that he does not “…see any major existing-home sales declines from this point onward; however, it is difficult to say when we will see a notable pickup in home sales, but it will happen in 2008.” As a seller today, focusing on proper preparation and pricing at market value will make your home “stand out” in today’s market. According to the MLSNI (Multiple Listing Service of Northern Illinois), more single-family detached homes have been listed for sale in the Barrington area in April, May, and June than any other time of year. The largest percentage of homes have also sold during this same time period. Even amid the national market correction, homes here are selling every day. According to the MLSNI, ten percent of all single-family detached homes in the Barrington area sold in ten days or less in 2007. In the two years prior, 15 percent of all homes sold in the same time frame. One contributing factor to these statistics is likely the fact that the seller had been prepared and maintained a great home, which encouraged the buyer to see value in the price the seller was asking for it. If you currently have a home listed for sale or are looking to place your home for sale sometime in the future, there are several things you can do to help increase the value of your home and prepare it to sell more quickly.
RepRinted With peRmission - Quintessential BaRRington magazine - CopyRight © 2008

Re al Estat e

BY TARA KELLEHER

Sellers: It Pays to Be Prepared!
Spring is a great time to take stock of the state of your real estate and start preparing your home for sale. Considering the current climate, which includes a pent-up demand for housing, a market correction, and record-low interest rates, now more than ever it pays sellers to be prepared. Lawrence Yun, chief economist of the NAR (National Association of Realtors) reported earlier this year that he does not “…see any major existing-home sales declines from this point onward; however, it is difficult to say when we will see a notable pickup in home sales, but it will happen in 2008.” As a seller today, focusing on proper preparation and pricing at market value will make your home “stand out” in today’s market. According to the MLSNI (Multiple Listing Service of Northern Illinois), more single-family detached homes have been listed for sale in the Barrington area in April, May, and June than any other time of year. The largest percentage of homes have also sold during this same time period. Even amid the national market correction, homes here are selling every day. According to the MLSNI, ten percent of all single-family detached homes in the Barrington area sold in ten days or less in 2007. In the two years prior, 15 percent of all homes sold in the same time frame. One contributing factor to these statistics is likely the fact that the seller had been prepared and maintained a great home, which encouraged the buyer to see value in the price the seller was asking for it. If you currently have a home listed for sale or are looking to place your home for sale sometime in the future, there are several things you can do to help increase the value of your home and prepare it to sell more quickly.

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Published by: Tara Kelleher on Jul 24, 2010
Copyright:Attribution Non-commercial

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07/24/2010

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