Home Selling in Chester>Question Details

The Longs, Home Seller in Chester, VA

We are looking for a relocation package??

Asked by The Longs, Chester, VA Mon Apr 21, 2008

I few years ago, I remember seeing commercials about a realty company buying your house if it doesn't sell. I am looking at a VERY quick relocation and we have only owned our house for 1 year. Any suggestions? We live in a very nice neighborhood in Chester, but I am nervous about the market. We have also completely remodeled.

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Dear Long Family,
Jeanne and Evelyn both gave excellent answers. Most of those buyouts are designed to give a last resort catchnet to sellers who need to move fast and want to leave the area, knowing that the house they are leaving will not be hanging over their heads months down the road.--- but there is a cost! Usually structured at 75-80% of newly appraised value, with seller ordering & paying for a least one appraisal, and buy-out company paying for one.
You can do very much the same thing yourself by reducing the price for a quick sale right from the start. Contract with someone who you have seen selling homes in your area. Price it right!
Best wishes for a speedy sale and fair outcome.
1 vote Thank Flag Link Wed Apr 23, 2008
Pricing your home to sell quickly should be your goal. Overpriced homes tend to remain longer on the market, even after they are eventually reduced because buyers perceive that homes that are stagnant are not as desirable as the newer inventory. Given your situation, I highly suggest you work with an agent to comparatively and competitively price your home. The sooner you sell, the sooner you will be able to buy and relocate to your new home. You can visit my website for more information regarding the market climate in your county.
Web Reference: http://www.evelync21.com
1 vote Thank Flag Link Mon Apr 21, 2008
Selling after a year in this market is a tough situation. My advice is to keep the big picture in mind - depending on where your job move is taking you, you may very well make up what you give up on the sell side. Condition and price sell homes. If you have remodeled, your home will show well vis-a-vis the competition - that is a great start. Pricing it wisely right out of the gate is critical. The excitement of your home will be greatest when it is freshly listed - agents and buyers gravitate towards new inventory, if you are overpriced, you will be overlooked. Generally buyers do not bid on overpriced homes, particularly now. I have seen it play out time and again, sellers who price wisely do better - not worse - than those that start high. Work with an agent who is skilled with the analytics and committed to aggressively marketing your home using traditional and internet marketing. You'll find more helpful info at my website.
Web Reference: http://www.feenick.com
1 vote Thank Flag Link Mon Apr 21, 2008
Chester is on the rise, and nicely remodeled homes like the one you mention are a relatively rare find. Most of the properties on the market are in need of updating or rehabbing, so yours, being in good condition may sell more quickly, especially if you price it to hit the market rather than chase the market. In April (The latest month I have full stats for) showed 149 properties on the market, with 23 pending sales. this represents a 6.5 month absorption rate, which is only slightly leaning to a buyer's market. (the web reference below explains what Absorption Rate is, and why you should know it when selling your home.)

In addition, 3 bedroom homes that sold in April sold for an average of 90% of the original price, while the 4 bedroom ones averages 83%, and the 2 bedroom homes averaged only 50%!

I am personally involved with the Chester Community Grocery Co-op http://(www.chestercoop.com) and am very familiar with the specific challenges of marketing properties in Chester. Please let me know if I can provide you any further assistance.
0 votes Thank Flag Link Sat Jun 7, 2008
Dear Long family:
Being with a company that specializes in relocation and in Morris County, NJ you need to speak to an expert in that field to visit your home, give you a marketing and merchandising evaluation and a clear plan to get your home sold for the highest price the market will bear.
The renovations may help out the pricing and give you an advantage, but a sit down with a Realtor will give you the answer.
You can call me at 973-538-5555 x302 if you need some assistance.
Jeffrey Halpern, PNJP
0 votes Thank Flag Link Wed Apr 23, 2008
In this market keep in mind what Andy Rooney says:
"1,001 Tips to Sell A House?
There's Really Only One"....
People send me a lot of books. Most of them come from authors or publishers. They send them to me hoping I'll mention the books on television. The fact that I have never suggested you buy a book doesn't seem to deter them...What I get most is self-help or "How to" books....
.....You don't need "1001 Tips on Buying and Selling a Home".
"Just Reduce The Price" _______________Andy Rooney
0 votes Thank Flag Link Wed Apr 23, 2008
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