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Understand first of all that there is a difference between price and
value. Price is the amount you are asking for the property. Value
is buyer perceived, and this perception of value is influenced by
many factors such as location, features, condition, comparison to
other purchase option, etc. |
By attending to details that can have a positive impact on the value, sellers
can significantly increase their chance of attracting qualified buyers willing
to pay the asking price.
| SOME TIPS WE WILL PROVIDE YOU |
Perceived size impacts value, even more so than actual square
footage. Open floor plans make a room feel bigger than larger spaces
with smaller rooms. Showing property that is furniture free, or at
reduced clutter, helps to make the space feel bigger.
Vacancy increases sale-ability. Property is easier to show
and easier to sell, and quicker to take possession of when it is vacant
at the time it is offered for sale. Evidence of problems to take possession
of the property -- such as encroachments, or tenants who wont allow
buyer tours -- negatively impact value. Vacancy also helps the buyer
walk through the property imagining ownership. Sellers should remove
personal trinkets and family pictures as well as being conveniently
absent during a buyer tour.
Cosmetics are important.
Fresh paint will always add more value than it costs.
Clean or new carpet/flooring adds more value than it costs.
Landscaping adds more value than it costs. At the very minimum,
make the entrance area neat.
If you can, add some colorful flowers and new sod.
Take care of the obvious! The spot on the ceiling from the
roof leak takes thousands of dollars from the perceived value and
the offer price.
Condition affects value. Do a seller's home inspection to
identify and fix the problem BEFORE closing. No point holding up your
check a few extra days; plus a failed buyer's inspection could cost
you the sale. Buyers will often bargain down your asking price to
accommodate for property condition and repairs.
If you can, remodel/update the kitchen and master bathroom.
These two areas have a big impact on home buying decisions.
Strategic renovations impact value and your bottom line. Don't spend
more money to renovate the place than you can recapture in value on the
sales price.
Please click here to contact Marc Wizman & Associates
or call (310) 746-8444. Thank you and we look forward to hearing from you!
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