Is It Time for a Price Reduction on Your Home?

If your property is currently on the market, how do you know if you need a price adjustment?

There are obviously a lot of variables involved in attracting buyers to a property. The three things buyers consider when looking at a home are condition, price and location. You obviously can’t change location, but you do have control over price and condition.

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Price is just one variable buyers look at.

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If you’ve been on the market long enough, listen to what your Realtor is telling you about the feedback received from all the showings because the market will respond accordingly. If you’ve been on the market for a long time with a number of showings and no offers, you’re basically getting rejected by the market.

You and your Realtor need to evaluate the market rejection along with those other variables to see if it’s time to drop the price, or decide if the price is really the issue. There may be other objections to the property, like a water tower in the backyard or proximity to an expressway. You can position the home at a level that will overcome all buyer objections if you’re willing to come down below what you might think is a fair value.

If you have questions about pricing, or you’re thinking about buying or selling a Grand Rapids home, give me a call or send me an email. I’d love to work with you.

How to Increase Your Curb Appeal

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A lot of people here in Grand Rapids have been asking me how they can boost their curb appeal. We've moved from winter to spring, so now is the time to start thinking about this before you list your home for sale. 

• Replace your exterior lights to give your home an extra glow. Buyers love well-lit homes.
• If your front door is a bit old, now would probably be a good time to replace it with a new one. This tends to set a good first impression with a buyer.
• Also remember to declutter.

• What I mean by this is that you need to rid your home of unnecessary distractions like collections, awards, trophies, artwork, or anything else that will distract the buyer inside of your home. Your home should look like it came out of a magazine.
• A good rule I use is that roughly 50% of the things on your shelves should be taken down and stored elsewhere for a good decluttering. You want your home as clean and neat as possible. 
• Kitchens and bathrooms are key. Potential buyers like to see updated kitchens and bathrooms. Usually kitchens are major selling points, so be sure to highlight all of the positive aspects of your kitchen. Remodeling doesn't always add value to your home, but usually repairs to kitchens and bathrooms pay off in the long run. It doesn't mean you need to spend $10,000, but you'll want it to look good.

Hopefully these tips can aid you when you list your home for sale this spring. If you need any extra help, please contact us and we can refer you to a good home stager.

As always, if you have any questions about the real estate market in Grand Rapids, please be sure to contact my team. We're always happy to help you!