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      Blog :: 05-2021

      3 Things To Prioritize When Selling Your House

      3 Things To Prioritize When Selling Your House | MyKCM

      Today’s housing market is full of unprecedented opportunities. High buyer demand paired with record-low housing inventory is creating the ultimate sellers’ market, which means it’s a fantastic time to sell your house. However, that doesn’t mean sellers are guaranteed success no matter what. There are still some key things to know so you can avoid costly mistakes and win big when you make a move.

      1. Price Your House Right

      When inventory is low, like it is in the current market, it’s common to think buyers will pay whatever we ask when setting a listing price. Believe it or not, that’s not always true. Even in a sellers’ market, listing your house for the right price will maximize the number of buyers that see your house. This creates the best environment for bidding wars, which in turn are more likely to increase the final sale price. A real estate professional is the best person to help you set the best price for your house so you can achieve your financial goals.

      2. Keep Your Emotions in Check

      Today, homeowners are living in their houses for a longer period of time. Since 1985, the average time a homeowner owned their home, or their tenure, has increased from 5 to 10 years (see graph below):

      3 Things To Prioritize When Selling Your House | MyKCM

      This is several years longer than what used to be the historical norm. The side effect, however, is when you stay in one place for so long, you may get even more emotionally attached to your space. If it’s the first home you purchased or the house where your children grew up, it very likely means something extra special to you. Every room has memories, and it’s hard to detach from that sentimental value.

      For some homeowners, that connection makes it even harder to separate the emotional value of the house from the fair market price. That’s why you need a real estate professional to help you with the negotiations along the way.

      3. Stage Your House Properly

      We’re generally quite proud of our décor and how we’ve customized our houses to make them our own unique homes. However, not all buyers will feel the same way about your design and personal touches. That’s why it’s so important to make sure you stage your house with the buyer in mind.

      Buyers want to envision themselves in the space so it truly feels like it could be their own. They need to see themselves inside with their furniture and keepsakes – not your pictures and decorations. Stage, clean, and declutter so they can visualize their own dreams as they walk through each room. A real estate professional can help you with tips to get your home ready to stage and sell.

      Bottom Line

      Today’s sellers’ market might be your best chance to make a move. If you’re considering selling your house, let’s connect today so you have the expert guidance you need to navigate through the process and prioritize these key elements.

       

       

      The Home Owners Association

       

      The Home Owners Association is something all condominium or co-operative buildings are certain to have. Gated and Golf communities have one too. Some love them and some loathe them. Who likes to be 'controlled'? I am a huge fan of the H.O.A.....the PRACTICAL, honest, ethical, proactive, empathetic kind.

       

      The other night I was on a ZOOM call for the H.O.A. meeting for our weekend home....yes, we have a weekend home in Greenwich, CT that has HOA and I am SO thankful for it. We bought in a 'gated community' something I thought I'd never do.... ours has a 10-acre minimum lot size which allows it to feel much more like a countryside experience. Here are some of the advantages I find most valuable:

      1.  We have a 'doorman' service - a security guard - that accepts packages, deliveries, and does a whole host of other things that are difficult to accommodate when you are not a full-time resident. It's sheer bliss. And we don't have to manage the staffing. The HOA and management do.

      2.  Consistency of quality. Most neighborhoods have outstanding zoning requirements. Buildings and home community HOA's are often much better equipped to enforce the consistency of quality in design, maintenance, landscaping, etc. More importantly, they have effective recourse for those that break the 'rules'. And they enforce them. Laws are useless without honest enforcement.

      3.  A well-run building or housing community with consistent quality attracts people who value and appreciate this. Most have pride in their homes and neighborhood/building. Our 'community' is over 1,400 acres in size so the consistency is remarkably impressive. This too keeps valuations healthy.

      4.  Every time I visit Nantucket I am blown away by the incredibly consistent design/landscaping/building code, etc. This fuels enjoyment - especially visually - for all, owners, renters, and visitors. It is unusual. This is good too for retail, restaurants, and commerce too. I used to have a weekend home in a town that allowed certain homes to go into deep decay....it brought the entire neighborhood down. It detracted visitors. It depressed valuations for all. A community with a good HOA protects you from town/city negligence.

      5.  A good HOA always focuses on the greater good, that which benefits the majority of homeowners. Working in the interests of one or two owners at the expense of others is terrible. I like dead trees removed. Hallways cleaned. Lightbulbs replaced. Lawns mowed. Lobbies updated. Staffing well trained and dressed. Almost all other owners do too. Yes, management companies and superintendents do all this work, but the oversight of a good HOA can make a huge difference.

      6.  A good HOA forces you to meet and get to know your neighbors. I like a sense of community where I live both in the city and the country.

       

      Naturally, I could write a long list of some of the negatives of poorly run, corrupt HOA's. It is always wise to not only understand the 'house rules' of an apartment, condo, or home with an HOA, but also how those rules are being enforced, the quality of the financials, and meeting notes. Do they meet consistently? Do they care?

       

      The other day I visited a building where I used to live in and was on the board. The lobby's flowers were mostly dead. When I was on the Board I would NEVER have allowed that to happen.... maybe I am old-fashioned, but these things matter to me....and to most of the homeowners and their visitors too!

       

      Have a WONDERFUL Wednesday!

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