Sell your home quickly, while interest rates are still low, don’t sit on the fence and wait for Spring – the good news for home sellers is that the serious buyers are still there, and there are fewer time-wasters.
This time of year typically sees a shortage of houses on the market with well-priced mid-range homes very scarce and still a number of active buyers ranging from families hunting for three/four bedroom houses in good locations to first time buyers needing a one/ two bedroom house or flat. Government planning guidelines have failed to tackle the undersupply of homes and the restrictions from lenders have starved the market of enough first- time buyers. David Cameron’s announcement of 95% mortgages for first time buyers, as well as further investment in the building industry, will bring new buyers onto the market and not just for starter homes. The bottleneck at the lower end of the housing market should clear allowing buyers, who have secured a sale on their own property, to move up the ladder.
Price your Home to Sell it
Market your house at a realistic price to secure a sale. It is very unlikely that prices are going increase in 2012 and, according to Capital Economics, they could fall by 7% in the next twelve months. Given that you can’t wait for the market to catch you up if your price is too high start with a realistic price, when your house first comes on the market. This will make it stand out from similar properties for today’s canny buyer.
Monitor the response
There is no point in your house sitting on the market for weeks on end. Refrain from starting at an inflated price. This is not a good strategy in the current market. Be frank with your agent and if you do try with a small premium have a clear price reduction policy. If the interest is low decide on the minimum offer you can realistically afford to accept and aim for a guide price slightly above, taking into account the performance of similar properties in your area. Aim to find a buyer sooner rather than later and remember if you put buyers off, you may end up taking a much lower offer in six months’ time
Promote your Home
Online agents will offer the same marketing package for a small upfront fee (www.move4us.co.uk have a lowest fee of £399 plus VAT). These kinds of savings on estate agency commission fees, could be taken into account when pricing your home.
Think of all the positive attributes about your home and don’t forget that location is still an important factor. Ask people viewing your home what it is they are looking for in order to adapt to their requirements; could an extra bedroom solve their need for a teenage den or is your home easy to extend? If you find that the road and rail links near your property, add convenience to your commute to work, it is worth pointing out the benefit to prospective buyers unfamiliar with the area
Presentation of your Home
Your home needs to be free of clutter, so that the size of the rooms can be clearly seen, before you have the marketing photographs taken. Photographs are extremely effective to get buyers browsing online, via property websites such as Rightmove, Zoopla, Primelocation and FindaProperty. You should be able to get the photography, floorplan, particulars and energy performance certificate provided through an online estate agent, within a few days, and uploaded to the internet.
Try to engage with people viewing your home in a friendly manner not just to understand their needs but also their motivation, if you do end up considering two offers, your knowledge will be a big help to decide who’s offer to accept.
Be Positive about Moving House
Remember it is a relative market, if you need to lower your expectations on the price you achieve, expect to pay less for the home you purchase.