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You better be the pick of the litter, not the mangy mutt down the street if you want to sell your home in New Milford, CT. After all, it is a buyers market in New Milford, CT. You need to sell your home in New Milford, CT. It is a buyers market, there is no doubt about it. Although the absorption rate is getting better (absorption rate it how long it will take the current inventory to sell) in New Milford, CT it is still a buyers market. We are at a 12 month absorption rate for New Milford, CT, better than the 24 month absorption rate we showed last year at this time. (At 6 months we are in a "balanced market", anything under that is a sellers market, over that, buyers market.)
You want to sell your house in New Milford, CT. What should you do? So, you contacted local Realtors® to do a market analysis for you. As you sit and listen to each one your eyes glaze over. The bottom line, the price is too low, you don't even hear the rest of the conversation, each Realtor® starts to sound like the adults in the "Peanuts" movies. Like a saxophone with a mute on it. Marketing strategy? What difference will that make? The price is too low.
Consider a few things.
Overpriced listings don't sell. For every month your house doesn't sell add up your expenses. Your monthly nut to live in the home, then subtract that from the price you think you should get for your house. If you have signed a 6 month listing, times your monthly nut by 6. If you signed a 12 month listing, figure it out. You just lost all that money.
Overpriced listings don't sell. If you are in danger of falling behind on your payments if you don't sell, you can pretty much count on falling behind on your payments because... overpriced listings don't sell.
Condition is KEY. If you can't do the work needed, price it accordingly. De-cluttering and cleaning, a bit of elbow grease goes a long way to making your house look better.
The Realtor® who gives you the highest price for your home may not necessarily be the one that is going to help you get it sold. (We call that "buying a listing") The Realtor® who explains the current real estate market conditions in New Milford, CT, who gives you a fair and honest price for your home, who has valid suggestions about how to get your home ready for sale, the Realtor® who will market your home in the best light, this is the Realtor® you want to pick.
For more information check out the following:
Remember, if you want to sell your home in New Milford, CT you better be the pick of the litter instead of the old mangy mutt that has been on forever. If you want to find out how to be the pick of the litter, give me a call. I would be happy to map out a marketing strategy for you based on current market conditions as they relate to your house and give you a realistic price as it relates to the current real estate market conditions in New Milford, CT.
This is a buyers market in New Milford, CT, no doubt about it. As a result it is imperative that your home be ready to sell. Before you sell you should be aware of what issues may prevent the sale of your home, or prevent you from getting the best price possible. You see your home one way, a buyer sees it in another light, and you can take that to the bank... (or not).
With current market trends issues or potential issues should be addressed prior to placing your home on the market. Lenders are reading the disclosures and listings, they are also reading the inspectors reports. Have you done renovations yourself? Did you get the proper permits as needed?
You may have owned your home for a few years and not even realized there is an open building permit at the town hall for work started by the prior owner. This can really cause problems for you if you wait until you have a buyer for your home.
Your Realtor® should be checking for potential issues at the town hall. Don't hold your breath and hope no one notices. Someone will notice and it will cost you in the end. Cost you $$, cost you the sale, cost you in many ways.
You may not have the money to hire an inspector, and with the economic climate this is understandable. But you can eyeball a few things and point them out to your Realtor® as they walk around your property with you getting ready to list your home. This will NOT replace a full inspection, but it may bring to light some obvious issues you need to think about. If you can hire an inspector pre-listing, even better!
Some very common issues that pop up today are:
- No permits or CO's for decks or additions.
- No permit for new roofing.
- No permits or CO's for anything that it was required for actually!
- Decks improperly built. If you are able to walk under your deck, do so and LOOK UP. Are there joist hangers? Is the deck bolted to the house? Of course standards change, and your deck may have been built with older standards, but if there are apparent structural issues, if the wood is rotting, if the deck wobbles, if the railings are loose it will be a problem.
- Electrical issues. I have an unnatural fear of electricity, looking inside a box gives me instant stomach churn. However I know enough that if I see exposed wires or a rusty box there may be bigger problems. And if you can't turn on the hair dryer and the microwave without tripping the circuit breakers then you already know you have a problem. And if you don't even have circuit breakers, this will be an issue too.
- How about your roof? If there are 3 layers of shingle on your roof that is it, the next time all that has to come off and it will cost big bucks. Are the shingles loose? Are they looking old and worn? And more importantly, does your roof leak? If you can get upstairs to your attic, look up! Are there water stains on the underside of the roof?
- Clogged gutters, missing gutters, loose gutters. This is not only unsightly but it can cause so many problems.
- Is your basement wet? Does it get wet on a regular basis? Address the issue!
- Check your home with your nose! Pet smells will deter buyers, a mildewy smell will raise a red flag. Mold is a big problem for homes. Find out what is going on. If you see a bit of mold on the outside of the wall you may have a far larger problem behind the walls. A note, please don't try to attack this yourself, mold spores are very small and will spew into the air and travel all around the house!
- If you are on well water, take a water down to be tested. There are many places that do this testing and they will tell you how to pull the water for the test.
- On the well issue, look at your well head cover, if it is close to the ground that may not fly. Is the cover cracked? Broken?
- When was the last time you had your septic pumped? In older systems I find a big problem is there is no riser installed, the opening is buried beneath current standards. Since 2000, no matter how old your system is, access to the tank for clean-out cannot be more than 12 inches below the surface of the ground. If it is, risers must be installed.
- How does your heating system function? Do you get your furnace/boiler cleaned regularly? Have it cleaned and checked. Buyers and agents check the side of the furnace/boiler for information telling how regularly it has been serviced. Something that looks like it came out of the dark ages will scare the pants off a buyer!
- If you still have an in ground oil tank this will stop a sale dead in its tracks. This is something that must be addressed, speak to your Realtor® immediately for solutions to handle this issue if you don't have the resources to pull the tank right away.
- Check under your sinks for leaks. If the cabinets are moist, if there are stains on the wood get it addressed!
Remember, you are not a licensed home inspector, electrician, carpenter, plumber or septic installer. But you and your Realtor® certainly can look around for potential issues before you put the house on the market. And sometimes you just know there is something wrong. Face it head on, don't put your head in the sand!
As I said, it is a buyers market in New Milford, CT. Not only does your home need to look good visually, it needs to be in good "working order". And if you can't address some of the issues you know about, make sure you price it accordingly and that you disclose potential issues up front.
Andrea Swiedler, Realtor®
Prudential Adams & Associates, REALTORS
337 Danbury Road, New Milford, CT 06776
Cell: 203.460.1775 Email: andrea@andreaswiedler.com
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Greater New Milford, CT area information. Litchfield County at its best.
Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover. - Mark Twain
© 2009 Andrea Swiedler. Unless otherwise noted, the content, both written and in pictures, is the property of Andrea Swiedler. If you wish to use something you see here, please email me at andrea@andreswiedler.com with your request. Most likely I will oblige, with a link back to my original content as well as an acknowledgment. Although imitation is the highest form of flattery, please let me know before you decide to bestow this form of flattery on me! Thank you.
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