Are you looking to sell your home quickly in Denver, Colorado? While it might seem like a daunting task, with the right marketing strategy and a well-prepared home, you can increase your chance of selling quickly. In this article, we will discuss some tips and techniques that will help give you an edge in the current Denver real estate market and get your house sold fast!
- Buyers want turn-key homes that show well
Sell your home quickly by ensuring it looks its best. Attention to detail is key! Megan Ivy, Broker Associate at Usaj Realty remarked, “In my experience, buyers are willing to pay disproportionately more for homes that look ‘cute’ inside! Oftentimes, the updates to catch a buyer’s eye are simple and very cost efficient. Sellers should work with their agent to see if a fresh coat of paint, a new fixture or two, or some exceptional staging could take their home to another level.”
“Buyers love to see a home that feels like the seller has taken great care of it. Taking the time to do the small things like, touch up paint, minor repairs, and decluttering can pay off big. I always remind Sellers that their home doesn’t need to be perfect, but it should present as clean, cared for and organized as it can be.”
Jenny Usaj, Employing Broker at Usaj Realty said, “Don’t skip any steps! Give your property an extra edge with just a few touches! Adding a fresh coat of paint to the front door, simple curb appeal such as winter planters, and even something as small as a new welcome mat can help transform any space into one worth top dollar.”
Making those needed improvements can create a ‘turn-key’ property that will be highly sought after by potential buyers. You may even want to consider having your house inspected prior to listing – this way you know exactly what challenges must be addressed before selling.
If cash is an issue and your home needs an expensive repair like a new roof, consider offering the buyer a credit at closing so they can do the work themselves. Get a few bids on the necessary repairs before offering to reduce the selling price.
“Buyers love to see a home that feels like the seller has taken great care of it. Taking the time to do the small things like, touch up paint, minor repairs, and decluttering can pay off big.” — Megan Ivy
- Price it right
At Usaj Realty, we understand the local real estate market in-depth. With our help, we can determine a pricing strategy for your home that takes into account multiple aspects of value. From its location to its size and condition to amenities offered — all these features play their part in setting just the right asking price!
- Invest in Staging
Whether you choose to enlist the help of a professional home stager, or take on the challenge yourself – making sure your house looks its best for potential buyers is key. Home staging experts will not only know how to make an impression aesthetically but also maximize what it could sell for in today’s competitive market. To make your home show-ready, we’ve built an extensive network of local staging professionals. We can provide you with quality referrals and arrange each consultation swiftly.
And if going pro isn’t feasible, don’t worry! There are plenty of ways you can elevate & prepare your space without breaking the bank.
- Exceptional Marketing
“The first thing that buyers will judge a home by are the photos posted online. Sellers should be sure that their agent is hiring a professional photographer and videographer that will showcase their home in the best light and highlight the home’s most desirable features. This sets the stage for a positive experience and will attract the most potential buyers for a home. First impressions really do matter,” says Megan Ivy, Broker Associate.
At Usaj Realty, we have a week-by-week marketing strategy to get your home sold for top dollar, contact us to learn more about how we can help.
- Utilize Financing Strategies and Seller Concessions to Attract More Buyers
Last, but definitely not least, are some creative seller concessions.
“Currently, rates are still higher than they were last year at this time and buyers are sensitive to higher rates as it has a substantial impact on their monthly payment. As interest rates have gone up, it has meant that buyers either need to be able to increase what they are willing to spend on their monthly housing payment, or that they need to start looking at homes at much lower sales prices to keep their monthly housing payment lower. With the right lender and a motivated seller, we are able to collaborate to come up with a strategy that will allow buyers to still consider the higher price point homes while also achieving their desired monthly payment,” Ivy said.
Temporary Mortage Rate Buydowns
What are temporary buydowns? It’s a way for a seller to lower the mortgage rate temporarily for the person purchasing the property by paying a seller concession.
“Recently, we are seeing buyers utilize temporary buydowns more frequently,” Amy Ivy continues, “This strategy will allow them the purchase their desired home at the original sales prices while also keeping their initial monthly payment lower. A temporary buydown is an approach that will allow a seller and buyer to come together in a way that feels good to both parties in the transaction.”
The most common temporary buydown is the 2-1 buydown which can help a seller attract more buyers and potentially sell their home quicker.
By offering a concession to the buyer, a seller can effectively help reduce the interest rate on a mortgage loan for the buyer for the first 2 to 3 years which can make the initial payment more affordable and allow a buyer to purchase at a higher price point.
For example, you decide to list your home for $700,000 and offer a 2:1 buydown to the buyer, which would cost you about $14,000. The buyer will receive a 2 percent lower interest rate on the 1st year of owning the home and a 1 percent lower interest rate on the 2nd year of owning the home. With a 10 percent down payment, the home buyer would be paying about $3,000 a month.
In order to achieve this same payment without a temporary buydown option, a buyer would have to purchase a home at $557,000 vs. $700,000. So as a seller, a $14,000 concession paired with a 2:1 buydown will give the same result as a $143,000 price reduction. Clearly, the concession is much more advantageous for the seller than drastically having to reduce the purchase price.
“In short, a 2:1 buy-down in the current market is a really great strategy for sellers to consider as it will allow them to ease the initial cost for buyers without drastically reducing their sales price,” said Amy Ivy.
Contact Amy Ivy to learn more about obtaining a mortgage loan https://www.cherrycreekmortgage.com/profile/amy-ivy