Can You Please Sell My House For $65,000 More Than My Neighbors?
This weekend, I decided to preview homes for sale in the Point of Woods neighborhood in Cherry Hill, NJ. In order to not be biased, I made appointments without viewing the listing price. Here are some of my general observations of one of the homes I previewed.
The front yard was landscaped with tall grasses. The right side of the yard had a tree stump that was 5 feet in diameter. I later read in the listing that this was "unique" landscaping. The landscaping hid the house and decreased its curb appeal. Many buyers will not get of the car if they don't like the house from the car (trust me; I have had more than my share of buyers in this category). My advice to sellers:
Tone Down Your Landscaping.
Simple and clean is better. What is unique to you may be considered a disaster to buyers.
As I toured the home (circa 1970), it had some wonderful features. The home featured new windows, a remodeled kitchen, 2nd story deck, 5 bedrooms and a dry basement. However, what struck me in a negative way was the amount and placement of the furniture. The formal living room was packed with furniture. It was very difficult to move around the room. The dining room had a very large table (with 2 leaves inserted). The family room also had a lot of furniture plus a treadmill and several other pieces of exercise equipment. Two of the bedrooms on the second floor were being used as offices. The offices were stuffed to the gills with professional journals, the desk was messy and again there was a lot of "stuff" in the rooms. The bedrooms were clean and neat.
My advice to home sellers;
If You Are Moving, Then Move Already.
What I mean is this. The home you are selling is no longer your home. You are showcasing this home in order to find its new owners. The best thing sellers can do is rent a storage unit and move 25-40% of the items out of the home. The formal living room does not need a sofa, loveseat and two chairs. Put the couch in storage. Use only the love seat and maybe 1-2 chairs. You want the room to feel open and spacious. Take the leaves out of the dining room table. Again, you don't want the room to feel cramped. Exercise equipment - In most homes I visit, the exercise equipment is covered with 6 layers of dust. So for the sake of selling your home, put it in storage. The same thing goes for magazines, books, knick knacks, your kid's trophies, pet toys and miscellaneous stuff.
When I walked around this house, I noticed that it had been painted badly. If you are going to sell your home, fresh paint goes a long way towards finding a buyer.
If You Can't Paint, Hire Someone Who Can.
There are plenty of unemployed painters on craigslist looking for a couple of days work.
Now, let's get to the point of this whole story. The listing price of this home was $65,000 more than comparable homes in the neighborhood. Did you hear me?? $65,000 more than comparable homes in the same neighborhood. This home was in one of the worst locations (backed up to a main street and it was noisy). Even though the condition was decent, homes in much better condition were listed for $65,000 less.
Sellers, in today's market, your home will probably not sell above market value. If homes in your neighborhood are selling for $300,000, you will not get $400,000 for your home (I don't care how much you spent in improvements). First of all, buyers will go around the corner and look at the less expensive homes (everybody wants a bargain). Secondly, $400,000 buyers will be shopping in a $400,000 neighborhood.
Finally, as your Realtor and Real Estate consultant, I would refuse to list your house at $65,000 above similar homes. What would that accomplish? How would I be looking out for your best interest? Several months later you home will more than likely not be sold. You will be frustrated and certainly will not want to entertain a $65,000+ price drop. My job as a Realtor is to explain to you the current market. We will get in the car and go look at our competition before we decide at which price to list your home.
Good Luck to all home sellers during this unique market. If you are looking to sell in Burlington or Camden County, NJ, call me and let me explain how I as your Realtor can help make your dreams come true.
Have a Great Day
Make This YOUR Best Year Ever
Leander McClain, Burlington /Camden County, NJ Realtor & Real Estate Consultant, Keller Williams Realty, 1814 Route 70 E Cherry Hill, NJ 08003 856-685-1677 Direct
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