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Money Matters Blog

Monday, April 30, 2012

Housing Market Update PT2: Tips for Preparing to Sell

Are you preparing to sell your house?  We recommend taking the time to prepare your house for the market.  Follow these three steps to get ready.

1.         Scope out the market.

Before putting a house up for sale, scope out the market to see what prices other houses in your neighborhood are selling for.  Be realistic in your assessment; the housing market changes frequently and a home is not likely to get the price today that it may have gotten several years ago.  Buyer tastes also change, so pay attention to what attracts today’s shoppers.

2.         Get ready to showcase the home. 

Buyers aren’t typically looking for a house that needs a lot of work, unless it’s a bargain.  The more prepared your house is for the next owners, the more attractive it will appear on the market.  Clean, improve and prepare the house before putting it up for sale.

3.         Set a realistic price.  

In a buyer’s market, realtors suggest asking for 3 to 5 percent above what you expect to get.  In a seller’s market, realtors suggest asking for 10 to 20 percent above.  Careful research is recommending for setting a realistic price.   To incentivize buyers, it can also help to be flexible about the move-in date or offer to pay for closing costs. 

Community Financial Credit Union offers a wide variety of mortgage options, low closing costs and competitive mortgage rates.  As a local community lender, we know the Michigan housing market and are here to help make home busing easier.  Click here to visit the mortgage section of our website or click here to apply online.

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

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