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How Selling Your House Is Like Making Lasagna

How many layers are there in a lasagna?

There’s no right or wrong answer to that. Other than, “more than one” probably. Even two is pretty skimpy.

So, let’s say three is minimal for argument sake. (But, four or more is better.)

This isn’t a lasagna lesson.

And, there really isn’t any rule that you can’t have a one or two layer lasagna. So, you’d be “right”.

But, this article isn’t really about lasagna, it’s about real estate. Specifically, the critical “layers” you need to have when you list your house for sale.

Like we were talking about above with lasagna, for the sake of argument, you definitely need three layers. More would be better.

So, let’s look at the three most important layers when listing your home for sale.

The 3 layers

The three “layers” you need to have when you list your home for sale are:

1- Price
2- Exposure
3- Ease of access

Price

The price of your home is the first, and most critical layer when you are listing your home. If you don’t nail the pricing, the next two layers won’t matter a whole lot. It won’t matter how much exposure your home has if the price isn’t in line with the market. Buyers have a good handle on values, and they won’t waste their time looking at a house if the price is way out of whack. There’s certainly a little room to be on the “high” side. You don’t need to “give your house away”. But, you really need to be priced well against the current competition, and justifiable against similar homes to yours which have recently sold.

Exposure

Exposure has gotten easier over the years because of the Internet. But the easiest way to ensure you reach every single buyer in the market is to make sure you’re on the local multiple listing service (MLS) .Beyond that, you want to make sure your listing “populates” or “syndicates” to all of the real estate sites out there. Again, the easiest way to do this is typically to list your home on the local MLS. Most agents have a system that then allows your listing to be picked up by more real estate websites than you can imagine.

But the bottom line is this – your home needs to be easily found. And since most buyers are actively looking online, make sure it’s on there as “everywhere” as possible.

Ease of access

Your home needs to be easy for buyers to come and see.

Sounds simple enough…

You want your home sold, so of course you figure you’ll make it easy to come and see. But not everyone does. More people than you can imagine make real estate agents and buyers jump through hoops to schedule a showing. Saying no to a showing, or trying to corral every showing into a tight window of time during the week is going to hurt you. So, just make sure you keep your house ready to show at any given moment, and say yes to any request to come see the house. (Within reason, of course…)

If you just do all three of those things, you’re in pretty good shape to get your home sold for as much as the market will bear, in as short a time as possible.

But, it won’t necessarily be as good as it could be if you were to add just a few more layers to your “listing lasagna”.

The “extra” layers

While the first three layers are more or less non-negotiable, and will most likely get you as close to the highest offer as possible, as quickly as possible, you may want to consider these extra layers. Adding these into your mix will increase your chances of getting the highest and best offer possible, as quickly as possible.

1- Hiring an agent who knows and understands the market.
2- Hiring an agent who is a strong advisor.
3- Hiring an agent who can negotiate.
4- Hiring an agent who keeps things together.

Knows and understands the market

It’s easy enough to hire a real estate agent. There’s plenty of them. But, you should really make sure to hire one who truly knows and understands your local real estate market.

You want one who can analyze the activity on your house, and the overall market, so that the agent can…

Advise you

There’s a lot of talk about selling homes “as quickly as possible”. The key words there are “as possible”.

Sure, you and your agent want your home to sell, and sell quickly. But “quickly” depends on the market. And you want an agent on your side who, after analyzing the market and activity, can advise you on what to do… Should you stay firm on your price and just be patient? Should you lower your price? If so, how much? Is there something you can change about your house that buyers are getting hung up on? If so, is it worth doing, or will the cost be too much for it to make sense?

There’s way more than that to list, but those are just a few examples of advice your agent should be relied upon for, and be able to provide to you.

Negotiate

This is another thing that gets a lot of lip service. But an agent who negotiates well is a huge asset. Sure, you want one that will negotiate a “win-win” enough to make a deal come together. But, you really want one that gets you the fatter end of the win. And that isn’t always just about price.

A good negotiator will get you the best price and terms. And, more importantly, it’s important to have an agent who will…

Keep the deal together

There’s a lot of time, and a lot of things that can lead to a deal falling apart between signing the deal and a closing.

Having a strong agent on your side, who can almost predict and nip problems in the bud before things get out of control, is a huge layer to add to your listing lasagna. And, if things do get dicey, you want an agent who can wrangle it all in and get things back on track.

Looks can be deceiving

People often look at selling a house as pretty simple. And the truth is, it is pretty simple…in terms of the first three layers.

But that doesn’t necessarily make the best “lasagna” possible. It might look OK enough to be called lasagna, but it’s not gonna be quite as tasty as it could be, if you take enough care to add the next four layers.

 

*Article provided by the Lighter Side of Real Estate

When is the best time of year to buy a home?

One question that pops up constantly from both first-time and seasoned homeowners alike is “When is the best time of year to buy a home?” Potential homeowners want to know the best time of year to get the best home for the lowest price – and ideally, at a time that makes sense for their life.

It would be great if there were a simple and straightforward answer, like “the best time of year to purchase a home is between April 1 and April 7.” But unfortunately, it’s not that simple.

Let’s take a look at the factors that play into answering the question “when is the best time of year to buy a home?”

Convenience

The first factor to consider when buying a home is convenience. This is particularly important if you have a family.

If you have school-aged children, you ideally want to move in between school years, so sometime between May and August. Pulling a child out of school in the middle of the year can be challenging, and children might have a hard time to adjusting to a new school in the middle of the year.

However, because so many potential homeowners have families that want to move during this time period, it drives up the prices, making the summer the most expensive time a year to buy a home.

So, if your main concern is convenience for your family, then summer is a good time to buy – just be prepared to pay a higher price than you would at other times of year.

Inventory

If your top priority is having a lot of houses to choose from, you’ll want to buy a house during the time of year when the most homes are on the market. That way, you’ll have your pick of multiple properties and are much more likely to find a home that has all the items on your wish list.

In most areas, the highest inventory peaks in the spring, right before the end of the school year. Inventory stays high throughout the summer and then starts to fall in early autumn, with the lowest inventory happening in late autumn and winter.

If you want a variety of homes to choose from, look to buy in the spring.

Price

If your main goal is to get an amazing home at a low price, the best time of year to buy is when competition is low. When there aren’t as many people looking to buy, it drives down the prices of homes, and you can purchase property at a significantly lower rate. On average, *homes cost 8.45% less in January and February than they do in June, July, and August.

If you were looking at purchasing a $500,000 property, that would bring the price down $42,250 for a sale price of $457,750. That kind of price drop could save you a significant amount of money over the course of your mortgage and lower your monthly payments.

If you’re looking to get the most house for your money, purchasing a home in the winter is definitely your best bet.

The best time of year to buy a home is largely dependent on your needs and priorities. If you’re looking to buy at a time that’s most convenient for your family (and in particular, your children), buying during the summer is a great option. If you want to see as many homes as possible in order to find a property that has everything you’re looking for in a home, you’ll want to buy a home in the spring, when inventory is at its highest. And if your bottom line is you want to pay the lowest price possible, purchasing a home in the winter, when prices are significantly lower, will be the most advantageous.

Just keep in mind that finding and purchasing a home takes time; while it happens, the chances of finding a property during the first week of looking for a home are slim. On average, people spend 30 – 60 days looking for a home and another 14 – 60 days from contract to close, so make sure to give yourself plenty of lead time to take advantage of the time of year that’s best for YOU to purchase.

https://www.marketwatch.com/story/the-best-time-of-year-to-buy-a-home-2016-10-10

**Article provided by Lighterside of Real Estate