Welcome to the first of my weekly “Selling Your Home” blogs. It’s no secret that we are finding ourselves in an unfortunate economic situation in respect to housing. That is, selling a house. Buying, however, is a different story. It is a buyer’s paradise for those who can afford to buy.
Sellers are so desperate to sell in an economy where people can’t afford to buy that for those who can, they can pretty much walk away with any house they want for a song. So please, if you truly need to sell your house don’t make the mistake of allowing your emotions to get in the way.
You’ve just spent the past thirty years in your home. It was the first house you bought together as man and wife. You’ve raised your children there. Your grandchildren are now visiting you there. Your home holds some powerful memories along with a lot of personal belongings, photo’s and memorabilia.
There is a list of possible reasons why you now find yourself wanting or needing to sell it. Maybe you’re being transferred, maybe you’ve lost your job, maybe health issues are dictating the move or maybe it’s just getting to be too much for you to take care of. No matter what the reason, you have a lot invested in this home financially and emotionally and it isn’t going to be easy to let go especially for less than you feel its worth and there is where your problems begin.
A home’s worth is not based on the seller’s emotional ties or even how much money the owner has invested in it. It is based on the Fair Market Value (FMV). All the granite, hardwood and high end appliances in the world are not going to make your home worth more than its FMV. It will definitely make your house sell faster but will not insure a return on your investment.
You see the home selling shows on TV that show people putting all the bells and whistles in their home and they end up with multiple offers yielding more than their asking price. They are still not selling the house for more than the FMV. Your neighborhood, your city, and the economy dictate the FMV.
Listen to your realtor. They are not going to talk you into selling for less than your house is worth, that would be foolish on their part. The more your house sells for the more your realtor makes. The realtor does this every day. He/She knows what your house is worth better than you do….I promise you that.
Come back next Tuesday for some tips on preparing your house to be put on the market. Until then check out my website for some helpful tips as well. www.reutershomedesigns.com
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