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Archive for June, 2009

When selling a home, especially in the current economic climate, the most crucial feature is always the asking price. This may sound obvious, but it’s remarkable how many owners are currently burying their heads in the sand and sticking with a price which may have been realistic 18 months ago, but which is now seriously overvalued. Anybody who is serious about a home sale, never mind a Quick Home Sale needs to accept that the value of their home is currently about 25% lower than it was at the peak of the market in mid 2007.

So calculating the right price is essential. Buyers are now coming back to the market in adequate numbers to ensure sales are going through, but no buyer will pay a 2007 price for a home bought in 2009. If you want to Sell Property Fast you have to be aware of that.

Some rules of thumb in estimating what you can expect to achieve:

1. Are there any similar (or preferably identical) properties nearby which are currently for sale? If so at what price? These are your competition and to ensure yours sells before theirs you will need to undercut their price. You must have an aggressive “Sell House Fast” strategy

2. Have there been any recent sales of identical or similar properties to yours. Authentic sale prices are a reliable pointer, they tell you what people are actually willing to pay. The sales are all recorded by the land registry as a matter of public record, they can best be accessed via the Rightmove website, by clicking the “house prices” tag on the top menu then typing in the postcode.

3. You can adjust actual sale prices made some while ago using these simple rules: houses are currently worth about 25% less than in mid 2007 and prices are approximately the same as they were in mid 2004.

4. If you would like a more accurate prediction from historical sold prices then go to the Nationwide Bank website. They provide a value calculator where you can key in the value achieved and the date achieved, the calculator automatically calculates the current value.

5. If you can remember the price you paid for your home then it can again be useful to put the valuation and date into the Nationwide calculator and again it will calculate a forecast current value.

6. Do not be tempted to over value your home because you have spent money on it. Prepare your home well, and be realistic about the price, and you certainly can achieve a Quick House Sale even in the current credit crunch. In particular, bear in mind that new kitchens and bathrooms do not add to overall value. That’s because most buyers expect that these items will have been kept up to date and overhauled from time to time during your ownership.

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Categories : Sell My House
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