How to Sell Your Home in this Market

  The latest figures from the Rhode Island Association of Realtors released on Monday show single-family home sales were up nearly 15% in the third quarter, while multi-families were up 6%, and condominium sales remained flat   compared to the same time last year.  Across the board prices have declined but we are also seeing fewer distressed sales. While it still  isn't  easy to sell your home these days, momentum is building and homes are selling.   The trick is to make your home the most marketable product that you can.   The first step is staging; making your home look stylish and inviting to potential buyers will leave a lasting impression. De-clutter, arrange the furniture to open up the space and create good flow, and then add some warmth and a little wow factor. Potential buyers become their own contractors when looking at houses and certain deficient conditions send up red flags that your home might be a money pit. Next you have to be realistic about your asking price, if you can’t or don’t want to price your home   close to market value or even slightly below, you should not list it at all.  The market will tell you in the first week if you have properly priced your home. The average days on market for active single family listings statewide last week was 140 days, while the homes that sold did so in 94 days. If you are getting showings and offers, you have hit the button, if you are getting showings but no offers, you are probably within 12% of market value, but if you get no activity you are more than 12% over. Make your home as accessible as possible to potential buyers. The key is to get as many potential buyers through your door. It is hard to keep your home show ready 24/7, but you should make it as easy to show as possible. Take 15 minutes every day to make the beds and tidy up; you don’t want to turn down a showing because your home is too messy. Lastly, remember the proverbial bird in hand wants to buy your home and the last negotiation of your first offer is often the best. Don’t get stuck on minor issues; if the buyer wants the washer and dryer, are you really going to risk the $500,000 offer for $1,000 worth of appliances? Sometimes a small concession can go a long way. This week’s Real Estate Insight: Selling your home in the shortest time possible will get you the best price.   Today more than ever you need an experienced Realtor with great web presence to expose you home to the greatest number of people possible. And remember to keep the big picture in mind during   negotiations.   It is difficult, but   you can’t let your emotions get in the way of a sale.