Real estate values are not that hard to determine for most
residential properties. Simply take a look at the homes recently sold in your
neighborhood and compare those selling prices with your home's features and you
will get very close to what your home could sell for today. Commercial
properties are a bit more difficult as there are fewer "comps" to use as
examples. Pricing your home though should not be a "do it yourself project",
especially in this market.
Fortunately right now, home values are starting to level off
which makes for some great market conditions for the balance of 2009. There is a
lot of pent up demand for real estate but as confidence builds in the economy
those people that were on the "fence" will now rush to buy before prices start
to climb yet again. This has been the historical cycle of real estate and not a
cycle to be ignored. Why buy after the market is totally recovered when you can
get the home of your dreams now while prices are at all time lows.
Looking ahead in 2009 we see the upward trend building
throughout the year. Timing is everything so be sure to sell your home at a fair
price but then also buy your new home at a fair price as well.
A professional real estate agent specializes in doing both
market research and being up to date on the ups and downs in the market place so
the realtor can give some accurate advise to those people that are looking to
sell their home. Being in real estate full time also helps the real estate agent
as they may already have a client in mind for your property which helps
determine the best value for your property.
The goal in any market appraisal is to price a property as
accurately as possible based on the homes location, style, features and
condition. Once you have that figure then the "client needs" come into play. If
you are moving because of a job transfer you may want to establish a price that
we would call aggressive or simply a bit lower than the actual analysis would
indicate. This works very well as everyone likes a good deal and today's home
buyers are very aggressive in seeking out that perfect house with the best
price.
Why use Prudential for all of your real estate
needs? Prudential has long been a leader in residential and commercial real
estate in Norwich, Ledyard, Groton, Waterford, and the rest of Southeastern Connecticut. Knowing the market and the trends give our
customers the power to make the best decisions regarding their real estate
needs.
Staging a home
"Staging a home" is a real estate term that simply means
marketing your home in it's best light. We caution our clients not to over do
this in their desire to move the home quickly. The most basic feature of staging
a home is to keep it neat and clean. Washing the windows, raking up the yard and
removing any un-necessary clutter is simple, easy and free. If your countertop
is in bad condition it would be a good idea to replace it. If it is in good
condition though it is not a good idea to replace it with an expensive piece of
granite because you were told that is the popular countertop right now. It is
far better to adjust the price from the market analysis to account for a
laminate countertop over a home that recently sold in your neighborhood that had
a granite countertop.
When staging a home it is a bit of a balancing act to get the
right mix of jobs to be done verses the value you will receive on the sale of
your home. We always recommend that our clients do any necessary repairs when
listing their home with us. In the early days you simply put your home on the
market and a buyer would come along and buy it and everyone accomplished their
goal. Today in the industry we have what is called the "home inspection". After
someone makes an offer on your home that is accepted they will have a
contingency as part of the purchase and sale agreement that the sale is subject
to a home inspection. This is a good thing for a buyer as they may not know a
lot about furnaces, roof, or home construction. The down side of the inspection
is the inspector will check everything in the house from window and door
operation to how well the toilets flush. The inspectors report is then used to
either have those items repaired or have the buying offer reduced to offset
those costs.
Prudential Real Estate of Southeastern
Connecticut opens many doors for homeowners, investors and developers.
The real estate market in Southeastern Connecticut is very diverse. From
a nice beachfront cottage in Groton Long Point to a major development in
Ledyard you can count on the Prudential Real Estate Team to both sell
your property or make your real estate purchase a reality.
Let us open that door for you today!
The best way to avoid the reduced home offer is to give your
house a tune up. Fix the tile grout, replace the torn window screen, put new
washers in the kitchen sink faucet. In most cases these costs are very low but
result in much more profit on your home sale.
Allowances
Allowances are a great tool for covering those big home repair
items. Often we will have a client that wishes to put their home on the market.
They know the furnace is old on their home and needs to be replaced. Reducing
the price of the home so the buyer will save money to replace the furnace
is not the way to go. The buyers will rush to put in an offer because the price
is so good and then after the home inspection come in with their alternate offer
to cover the cost of the new furnace. The ideal situation is the home
owner replacing the furnace before the home listing takes place but in many
cases this is not practical. A new furnace could cost $5000 to $10,000 which the
home owner may not be able to afford. In that case it is far better to list the
home at it's best market value and add an allowance specifying it is for the
furnace replacement. "For sale by owner" people always get trapped on the
adjusted offer. FSBO clients can tell some really odd stories about their
attempts top sell their home themselves and the range of emotions in play when
they thought they had a good deal only to find out they had a horribly bad deal.
Knowing the home buying public market demands up front and how today's home
buying is done will get you the best results with a much easier transaction.
New Listings are always needed so if you are
planning to sell your home let us put the power of our professional REALTOR
services to work for you. Our buyers are always looking for a good home
investment or neighborhood just like you now have so be sure to give us a call.
Finding a REALTOR
Starting the process the first step is to find
a REALTOR or real estate agent. You want to buy a new home or sell a home. That
is the simple part. A REALTOR is a good member of your team to have on board
sharing your goals. This saves you a lot of time and certainly helps sort
through all of the properties on the market. We hope you select us but the main
thing is to partner up with a real estate professional that will get you the
best value and ensure that your new home has those home features that are most
important to you. Location, home setting, schools, plenty of acreage or just a
one acre building lot are all elements that your REALTOR will need to know about
your home goals to fine tune those properties that you should see or go to on an
open house and see. Buyers know the home they want to buy is out there. A
REALTOR can be your best source for finding that dream home. Our job is to use
the tools we have to do that home search activity for you.
In real estate sales Prudential Connecticut real estate is the
leader in real estate listings, "new homes sales", and commercial real estate
listings. When looking for a real estate broker for maximum results select the
broker with the best "real estate agent" team as those real estate agents will
provide you with the fastest results in a competitive real estate market.
Your real estate agent should be well versed in not only the "homes for sale"
market but the luxury home real estate, investment real estate and our growing
commercial real estate markets as well. Prudential's real estate agents are part
of the Prudential team so by selecting prudential you get the expertise needed
to accomplish your real estate goal to find your dream home, build a new
business or rent the ideal home, apartment or condo. Count on Prudential real
estate agents to provide you with all of your real estate information, cma
(comparative market analysis), mls (multiple listing service) comparison, real
estate market trends and conditions and more.
Connecticut real
estate listings for "homes for sale" are many. Look to Prudential Real Estate
agents as your best source to sell a home or buy a home. Make Prudential your
real estate agency or broker. Prudential means "real estate" in the Northeast
and Nationwide
Prudential Real Estate of Southeastern
Connecticut opens many doors for homeowners, investors and developers.
The real estate market in Southeastern Connecticut is very diverse. From
a nice beachfront cottage in Groton Long Point to a major development in
Ledyard you can count on the Prudential Real Estate Team to both sell
your property or make your real estate purchase a reality.
Let us open that door for you today!
What is your home worth in today's market? Give
us a call for a free comparative market analysis.
860-303-6442
Thank you for visiting with us. We look forward
to being your Connecticut real estate source for success.
Carol Sormrude
Cell 860-303-6442
Office 860-572-9414 Ext 312
Office Address:
Prudential Connecticut Realty
62 Greenmanville Avenue
Mystic, CT 06355
First time buyers qualify for an $8000 tax credit for a new
home purchase!
The price of energy in the Northeast has created a strong demand for highly
energy efficient homes. The highest home value, resale and low cost of operation
comes from todays new modular homes. To learn more just follow the links below.
CT modular homes are available statewide through a network of approved builders.
How
much is your home worth?
