Thursday, June 8, 2023 / by Makayla Santa Ana
Homes For Sale In Manassas VA
While some people choose to live close to work, most of us want our lives to be more balanced. We desire to have homes that are near parks so we can spend time outside, schools that are easy to get into because we will parent soon, and maybe even an organized soccer or basketball team!
There is one major downfall to having these types of residences in your area- overpriced houses. In fact, there are many areas of the country where you would have to look hard to find a house under $200,000. This article and discussion will talk about some strategies to help you find your dream home, including how to buy a home with less than $15,000 in cash!
Reminder: If you make an offer without knowing what you are doing, the seller may reject it and negotiations could end early.
What is a home sale?
A home sale or closing is when an investor (or seller) brings down their house to make room for a new one. This can be due to buying or building a newer house, moving into a larger area, having a baby, etc!
A homesale usually happens within 30 days of you registering your property with us here at Move4Free Realty LLC. We have a team of professionals that help facilitate this process for you!
The people involved in a homesale are called stakeholders. They include lenders, tax agents, title companies, surveys, insurance agencies, etc. These individuals all play a role in making sure everything goes as smooth as possible during the homesale.
We take care of most of the stakeholder relations so that you do not have to worry about them. We also handle the negotiations between the sellers and buyers, which makes it easier for both sides to come to a happy conclusion.
What is the difference between a listing and a home sale?
There are two main reasons that your house will not sell quickly. One is because there are no offers, and the other is because you as the seller cannot reach an agreement on how to market your house.
As a homeowner, it can become really frustrating when potential buyers drop out due to lack of interest or negotiations breaking down.
This happens more than most people realize!
When this occurs, the sellers broker must decide whether to list the property with another agent, try to get individual agents to represent the buyer, or if they want to give up and move onto the next listing.
Brokers spend hours every day talking about houses, so they usually have a good idea what types of homes appeal to different people. Finding a new representation can be quite time consuming, so their best option may be to look at giving up and moving on.
What is the difference between a listing and a sold home?
A homes SOLD status means that the property has been transferred through a sale transaction. This occurs when either the seller or the real estate agent lists, finds a buyer, and then completes the sale.
A listed home does not have an end date set until it sells, which can be weeks, months, or even years down the road!
Once a house has SOLD, it no longer appears on most listings search tools like Zillow, Redfin, and others. These sites will still show past transactions, but they will state “this property was last listed as” followed by the previous listing information.
This happens because these websites use historical data to determine if a new listing is similar to one that had recently sold (within the past few days-weeks). The same thing applies to checking if a house is under contract – there must be some kind of agreement about where to meet after the initial contact, otherwise it cannot be considered contracted.
How can I get my house ready for sale?
While it’s not advisable to put your home up for rent, there are ways you can prepare your property for potential renters or even buyers. Removing personal items such as decorations, clothes, and jewelry is one of the best things you can do.
When selling a 1-2 bedroom home, leaving the house empty may be the best way to go. You can let the sellers take away their belongings, and then when they list the house, they won’t have to pack all of their stuff up again.
By having someone else remove all of the pieces of furniture and other materials, you will free up some room to include in the listing!
Removal of personal items is very important since most real estate agents require proof that you owned the home before presenting it to possible future owners.
Also, make sure to leave the house clean and organized.
How much is my home worth?
While having an open house may seem like a good way to showcase your home, there are some drawbacks to doing this. One of these is that many potential buyers will not be able to make it during their visit because they have other commitments.
If you’re hosting an open house, then you should definitely check out The Richmond Real Estate Group’s tips before opening up your home to the public!
Another drawback is that while most people agree that listing your house at its highest price isn’t necessarily a bad thing, sometimes going lower is as important as going higher.
By understating how much your house is really worth, you could lose money by selling it. And even if you don’t, you might get less than you expected.
Many savvy sellers hire professional help to assess the value of their homes. Unfortunately, this cost money, which can cut into your profits when you sell yours.
Fortunately, there are ways to come close to knowing what your house is truly worth without too much expense or time. Here are three easy methods to do just that.
What locations are most popular?
Location is one of the biggest factors when it comes to choosing where to live in any community, including affluent communities like The Woodlands or Chantilly in Prince William County or Sunrise in Fairfax County.
People choose to live close to work because being closer to your workplace means less time spent in transit. It also helps with after-work activities as well as daily routines such as running errands or taking children to school.
A lot of people enjoy living near their extended family members or friends who they meet at church or through other groups. Finding good public transport can be difficult in more urban areas, so this factor goes into deciding where to call home.
Overall, people love living around other people! This includes friends you make at work or outside of work, relatives that grow up and move away, and even neighbors that stay put year after year.
What types of homes are available?
Townhouses and attached apartments are both considered as an entry level property type since they contain individual rooms instead of separate spaces shared with another person.
These units are typically rented out separately but there may be some common space like a kitchen or washing machine area. They are great if you want to save money on monthly rent while still having access to basic amenities.
What is the average sales price?
While having lots of homes listed can be fun, it also creates some challenges when trying to determine what the market value of each home is.
Most real estate agents have an estimated list price assigned to each house they represent, but how many people actually use that number as the selling price?
Many sellers will go beyond their listing prices to try and get more money for their houses, especially if it is a higher priced property. Others will underestimate the true value of their home, thinking it is too expensive so they decide not to put up any signs or make any other changes to it. This then puts pressure onto the agent to find a buyer quickly, which sometimes means taking less than you would like.
By using recent comparable sold properties as a benchmark, we are able to establish an accurate price estimate for every home on the market. Using these benchmarks as a starting point, our experts take into account all of the features of the home, its location, and condition to produce a close approximation of what the home should sell for.
From there, we apply appropriate adjustments to arrive at a final sale price. These include things such as whether the seller requires a quick sale, whether they will accept a lower offer, etc. — factors that typically influence the price someone is willing to pay for a property.
The average cost to assess a home is 1% to 2% of the total sales price.
What should I set as my selling price?
When it comes to home sales, your house will most likely be listed with a real estate agent. As discussed before, having a high quality listing video is key to getting lots of interest in your property.
With that said, how you choose to list your home really does make a difference in how many offers you get!
Some things to consider when choosing your sale price are: The current market value, what similar homes have sold for recently, and/or online listings.
We recommend being willing to reduce your price slightly- maybe by a thousand dollars or two- but make sure it’s not because you don’t want to sell, you want to keep this home at this price. Pricing too low could mean losing money.
Also remember that some expenses (like homeowner’s insurance) aren’t adjusted for in the “market value” calculations, so they’re already accounted for in your sale price.