What to Know Before Selling Luxury Homes in Granby
In the aftermath of the 2008 housing crisis, many luxury homeowners in Granby found themselves with a tough decision. Even if they had reason to move on, they had to weigh whether it would be wiser to delay until a market rebound brought prices back to reasonable levels.
The recovery has progressed for a while, buyers have returned, and prices continue upward — including those for luxury homes. If you are one of those who have been thinking about selling their own upscale property, you may have concluded that this Fall and Winter it’s finally time to act. If so, it’s worth remembering that yours is a specialized market segment. See my strategy here: http://bit.ly/HQ1oki or at www.StephenSimard.com
-Patience is the Key
As elsewhere, luxury homes in Granby require a marketing strategy that differs from traditional real estate. It takes longer to connect with the right kind of buyer for these homes — so it’s important to practice an extra degree of patience.
-Find the Right Real Estate Representative
It is absolutely essential to work with an agent who has wide experience in the luxury market — one who understands the ins and outs of moving a luxury property. Quite often, they will already have a network of potential buyers who have shown interest in Granby high-end properties. Choosing an agent who offers a tempting commission discount (but who has little to no experience with luxury homes in Granby runs the risk of being penny-wise and $$ foolish.
-Selling the Lifestyle
Luxury home sales are driven by a clientele who can afford to support a distinctly high-end lifestyle. That is why emphasizing lifestyle can be as important as the home itself. It means that the staging of luxury homes calls for special care — making sure that every detail inside and out is immaculately presented. It means a bit more work for the homeowner…earning an ample reward at the end of the day.
If you are a homeowner whose property belongs in the Granby luxury homes arena, and you have been waiting to sell, it’s time to contact me. I can offer you the guidance and experience you are looking for!
Stephen Simard is a Realtor with Alliance Realty in Granby Connecticut. Contact him at 860-919-0991 or at www.StephenSimard.com
Advantages to Selling Your Home in the Granby and Simsbury area this Fall Two Culprits That Make Selling Your Granby or Simsbury Home Tougher Selling Your Home in Granby and Simsbury Can be a Fall Success Story
Whenever a home lingers on the market, the likeliest two culprits are either a price that’s too high to be competitive, or a home that’s not in top showing condition. If you were unsuccessful in selling your home in town this summer, it would be particularly disappointing given the strength of the selling season. The NAR reports that in July alone, sales of existing homes jumped 17.2% compared with July 2012. At the same time, some sellers reported the reappearance of multiple offers.The good news? Selling your home in the fall or winter is not as difficult as most people commonly assume. In fact, selling your home in the Granby and Simsbury area during the coming months can offer certain benefits. In what many people assume is an “off season,” fewer homes are on the market — less competition. At the same time, buyers in these seasons tend to be more serious about buying. Pricing is almost always the overriding issue. Home values haven’t fully recovered from the peaks registered before the residential housing crash. Nationally, median prices are on the rise…but even so, they are still 7.3% below the high water marks reached in 2006. If you bought or appraised your home in 2004 – 2006, you might have to set your asking price slightly lower than the number you heard then. Selling your home with dispatch might depend on it.Showing condition matters, too. Selling a home is different from living in it. To be competitive with the other Granby and Simsbury homes for sale, the property should be spotless for every showing. Removing excess furniture, art, and personal items such as family photos or trophies is important for creating a home that appears spacious and airy. It also lets buyers more easily imagine their own families living in your home.Don’t let the lack of a summer sale discourage you. When you set your asking price correctly and provide an immaculate showing environment, you’ll give yourself a strong chance of selling your home in the Granby and Simsbury area during the cooler weather months. If you would like to talk strategy, call me today for an in-home assessment!
Stephen Simard is a Realtor with Alliance Realty in Simsbury, lives in Granby, and is proud of the great schools and towns in the Farmington Valley. Contact him at www.StephenSimard.com
Whenever you hear that a neighbor’s house is on the market, the same question flashes through nearly every homeowner's mind: how much are they asking?
That's because of the nature of residential markets: our own homes' real estate values (in fact, all Granby Real estate values) are connected with one another, and that asking price is an estimate of the current state of affairs. It has to be reasonable in order to attract the attention of serious buyers — but if it’s too reasonable, on closing day the seller will walk away with a lighter bank account than necessary.
Real estate values in Granby are determined in large part by what other similar homes have recently sold for. These comparable sales show what a real world bank was willing to lend, and how many dollars a real life buyer was willing to pay. “Comps” are to real estate values what the Dow Jones is to securities: a trustworthy reality check, no kidding around.
How 'comparable' a comp is depends on a number of factors to be taken into account:
· The structure
The structure of a comp sale will have similar square footage, number of bedrooms, etc. Its condition is a value judgment best made by professional appraisers. Amenities can include everything from upgrades in a development to added features like central air conditioning or a Jacuzzi. And location means a great deal (is it in a high crime area?) — as does the similar but more precise neighborhood (are the neighbors taking care of their yards? Are the schools first-rate?).
Ultimately, when determining real estate values for Granby, appraisers take into account much more than just the house itself. That’s why when you set out to find a home for your family it’s important to look beyond the physical facets of the house alone: should you later decide to sell it, the whole host of factors will come into play. Whether you are buying or selling a home in Granby this fall, contact me today for a pricing evaluation.