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
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.