FROM THE BUYERS PERSPECTIVE

As a seller, you have the ability to control three factors that can have a direct impact on the sale of your home:

*  The home’s condition

*  Asking price

* Marketing strategy

However, it’s important to understand that there are several other factors that can influence a buyer, and you should understand these consumer trends when you enter the market. The more your home satisfies these qualifications, the more competitive it will play out in the marketplace.

Location

The most influential factor in determining your home’s appeal to potential buyers is something you have no control over: its location. According to the National Association of REALTORS(r), neighborhood quality is the No. 1 reason buyers choose certain homes. The second most influential factor is commute times to work and school.

Size

While some buyers want to simplify their lives and downsize to a smaller home, home sizes in general have continued to increase over the decades, nearly doubling in size since the 1950s. Homes on the smaller size generally appeal to first-time home buyers & “empty nesters”.

Amenities

Preferences in floor plans & amenities change over time, and your real estate agent can inform you of the “hot" items that are desirable in your local market. If your home lacks the general desirable features, you can consider renovating as needed to increase its appeal.  However, it may not always be necessary.  Its important for your Agent to review sales data specific to your local area and see what type of condition and features were included in the sales of comparable homes.  You can then appropriately asses whether an investment is likely to help or be a waste of time and money