How to sell my updated 60's colonial when I am competing with the newer construction homes? We are in a great

Asked by Shanna, York, PA Fri Nov 30, 2007

neighborhood near York Hospital, we have a big lot with mature trees and we have (or will have by sale time) updated the kitchen and all baths plus new paint, light fixtures hardware etc. throughout home. I know many buyers look for the newer homes- how do I get them to consider my home?

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Edmund Choi, Agent, Paoli, PA
Fri Nov 30, 2007

Although I am not an expert in York, I have found that not all in the buyers are inclined to buy new construction. New construction often lacks "character" , while older homes lack "amenities". A buyer will determine which home will meet their needs and wants. Don't forget: unlike other products offered in a marketplace, real estate only needs one.

One thing-make sure your home is in in tip-top marketing condition so that it will have impact from day 1. If you need to delay a day, week, or even a month, wait until it is sparkling before introducing it to the buying public.
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Jessica Klein, , New Rochelle, NY
Fri Nov 30, 2007
Hi Shanna,
You want your house to stand out among its competition. You should first check out your actual competition by visiting them with your realtor. That will tell you exactly where you stand and what needs to be done.

Next, have your home staged by a staging professional. This is the best edge you can have in today's market. It sounds like you are on the right track already.

Good luck.
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Phil Fowler, Agent, Brandon, FL
Fri Nov 30, 2007
You answered your own question...... You market your home as an established home with mature landscaping. Highlight all the updates. Have your agent take lots of pictures and a visual tour of not just your home but also the neighborhood. Put it out on different websites. Have business cards made up with a picture of your home and contact info and hand out to friends, family, business assoc., local stores. Market to the medical community at the hospital. Have a loan office come on board with perhaps some special loans for medical professionals. We do that in Florida and it helps those people who help us. Keep the price real and make some allowances for the age. Hope this helps.
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Durenda Fach…, , Coastal Tampa Bay area. Pinellas and Pasco Counties.
Fri Nov 30, 2007

That is a great question.

Many builders put additional lighting in their models.
Buyers "fall in love" more easily in light bright homes.
In an existing home, a seller can create similar by increasing the wattage of their lights to the maximum allowed by the fixture, buying a lamp for dark areas, then when the property is being shown, turning on ALL lights, open blinds etc

Pricing agressively at value is extremely important.

Many lenders these days are requiring appraisers to use comps no older than 3 months.

In pricing your home, if you use sold comps no older than 2.5 months, and then price your home at value you will position yourself well for the buyer to make an offer on yours first.

Many sellers think they need to price at value + to leave room for negotiating.

Buyers are out there, and they have been and are buying.
But they are looking for the best deal they can get.

As a seller, if you price at value, you stand a better chance of the buyer choosing your home 1st to make that offer.

Of course the buyer will come in with an entry offer below your asking price, but when you counter, they will know it is a justified counter.
Typically they have seen tons of comparable properties priced at value +.
And It is much easier for them to justify, in their mind, taking your counter.

Best of luck in the sale of your home
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Bill Seufert, Agent, Lancaster, PA
Fri Nov 30, 2007

Great question. I would say it sounds like your doing the things you should do to make your home appeal to as many people as possible. I have many buyer clients that are not interested in new homes. Quite a few people prefer the older homes with the mature trees in neighborhoods that exude "character".

Give me a call if you would like some advice.

Good Luck!!

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