Home Selling Tips

Your property has many values — one to the tax assessor, others to your lender and insurance company and yet another value to you, the owner. It also has distinct values to prospective buyers depending on their needs, desires and financial resources.

Ultimately, buyer value or market value will determine the selling value of your property. At Premier Properties, we help you determine the value of your home based on its own merits, not what the house down the street sold for or how much square footage it has. It is a skill where experience and judgment are of fundamental importance – a skill we have developed over many years serving sellers of fine homes in a variety of price ranges. Some of the factors that can determine the value of your home are:

Location

• Location can be the single greatest factor affecting value. Urban or rural settings, quality of school districts, and local amenities are just some of the determining factors of location

Competition

• Buyers compare your property against other properties offered in the market place

Timing

• The current real estate market may reflect either a buyers’ or sellers’ market
• Market conditions cannot be manipulated; an individually tailored marketing plan must be developed accordingly

Condition

• Property condition affects price and speed of the sale
• Optimizing physical appearance and preparing in advance for marketing maximizes perceived value

Value is in the Eye of the Beholder

Determining the list price is the most important component when putting a home on the market. Setting the price too high can discourage prospective buyers and could prolong time on the market, making your home seem less desirable. Pricing the home too low will result in losing money on your investment. Many factors contribute to a home’s value, including location and market value. A Realtor can help you arrive at a fair market price.

There are several ways to help accurately determine a home’s value.

• Comparative Market Analysis. A Realtor can provide Comparative Market Analysis (CMA). This report helps establish the relative value of your home by comparing homes in your area that are currently on the market and recently sold properties with similar characteristics. Comparables include neighborhood, number of bedrooms and baths, lot size and certain amenities (e.g. pool, garage space).
• Appraisal. For a fee usually between $200 and $400, a professional appraiser looks at several factors to determine a home’s value. Appraisers research the current market value of similar homes in your area, fluctuations in the real estate market and previous sales and tax records of the home, as well as compare census data regarding local home sales.
• Buyers hold the cards. Ultimately, buyers create the value of a home. The value can vary, depending on supply and demand in the market. Both a CMA and an appraiser help sellers to find out market ranges for a home’s listing price, but no two homes are exactly alike and therefore no two will sell for the exact same price.

A new city, new job, new friends, new neighborhood, and new home – an adventure is about to begin. Selling your current home and moving can be an exciting and wonderful event, but before you reach your new destination there are many things to do. And, of course, moving can be a stressful experience. However, reducing your stress level is possible with forethought, organization and planning. You should begin preparing for your move as soon as possible. Those who plan ahead, are organized, and have a positive attitude adjust much quicker to their new lifestyle and usually become active members of their community.

This moving checklist will help you prepare for your relocating adventure.

Moving Checklist

As soon as you know you will be moving:

• Begin planning your move to eliminate as much stress as possible.
• Contact a Realtor for selling your current property and buying a new home.
• Reserve a moving truck. They are often booked two months in advance.
• Find out what expenses your employer will cover.

Four weeks prior to moving:

• Check the registration procedures for enrolling children in school. Obtain copies of children’s transcripts. Ask teachers for a statement describing the student’s achievement level and written descriptions of any unusual courses taken.
• Request copies of all medical, dental, and veterinary records and ask for referrals.Notify the post office of your new address. Send change of address cards to friends, subscription services, creditors, and insurance companies.
• Purchase moving supplies, such as boxes, tape, and bubble wrap.
• Begin packing seldom used items and dispose of unwanted items through charities. (Get receipts for tax purposes.)
• Contact the IRS for forms and regulations regarding tax-deductible moving expenses.
• Transfer or arrange for insurance in your new city to cover your home, furnishings, and automobile.

Three weeks prior to moving:

• Arrange to have appliances, utilities, phone, Internet and cable TV disconnected. Coordinate the final readings for gas, water, telephone, etc. Check on deposits. Set up connections at your new home.
• Review details with your mover: insurance coverage, packing and unpacking labor, arrival day, directions, shipping papers, time and method of expected payment.

Two weeks prior to moving:

• Handle bills, stocks, investments, and banking transfers. Arrange for check cashing in the new city.
• Make special arrangements for transporting pets.
• Clean cupboards.
• Plan remaining meals so you can pack what you don’t need.
• Update your pet tags and licenses with new address information.

One week prior to moving:

• Discontinue delivery services, such as the newspaper.
• Clean out your safety deposit box and place all valuables and documents together.
• Either carry them with you or send them ahead by registered, insured mail.
• Reconfirm your moving and delivery dates with your mover.

Two days prior to moving:

• Defrost and dry refrigerators and freezers.
• Arrange for traveler’s checks for trip expenses and payment to the mover upon delivery.
• Reconcile and close checking account and withdraw savings.
• Conclude any financial matters relating to the lease or sale of your home.
• Set aside items you will need immediately upon arrival – a few dishes, towels, soap, bedding, light bulbs, flashlights, and toilet paper. Clearly mark the boxes.
• Leave forwarding address to new tenant.

Moving day:

• Pay close attention to the mover’s paperwork. You will need to sign it upon completion of loading.
• Supervise the movers to make sure your instructions are understood.
• Double check your residence for forgotten items before leaving.
• For emergency reasons, alert a close friend or relative of the route and schedule you will travel.
• Leave keys and garage door transmitters for new owners.

Working with a professional Realtor to sell your home is a good idea for severalreasons:

• They will present you with a custom marketing plan for your property
• They will provide you with a current Competitive Market Analysis and will assist you in determining the most effective list price for your property
• They are familiar with the process of selling a home and can explain all the details and paperwork to you
• They will place your property on the Multiple Listing Service and promote your property to all Premier Properties sales associates as well as other professional brokers
• They will make information on your property available to local and out-of-town buyer prospects
• They can set up appointments for potential buyers to see your homes
• They can develop a plan to enhance your property’s ability to attract buyers
• They will prepare a negotiation strategy.
• They will help you complete all the necessary paperwork when it comes time to accepting an offer.
• They will monitor and inform you of the progress of the purchase agreement.
• They will be there at closing to answer your questions and make sure everything runs smoothly

Selling your home can be a time-consuming experience. Working with a professional Realtor will make the process much more efficient.

Since most people spend a fair amount of time with their Realtor, it’s important to choose a Realtor you feel comfortable with, and one who is responsive to your needs. The following questions will help you decide if a particular Realtor is right for you:

• Do they return your phone calls?
• Do they ask you questions to determine your specific needs?
• Do they provide you with a Competitive Market Analysis?
• Do they explain things clearly?
• Do they suggest specific marketing strategies?
• Do they seem knowledgeable about the market?
• Do you feel comfortable spending time with them?

Premier Properties is a full service real estate firm that has been assisting home sellers in the Michigan area for over 30 years. With superior market knowledge and a wide range of services, our dedicated agents maximize the efficiency of your home sale by acting as trusted guides before, during, and after the transaction.