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What's My Home Really Worth--- The Question We All Want Answered!

There are really just two major considerations when you determine the appropriate value for your Williamsburg VA property: market value and appraised value.
This is where many people get confused on value--- So many people will say, “The assessed value is X, so that is what it is worth”. This is so not accurate. Many times a house will sell more than the assessed value as the assessed value is what the city/ county taxes you on. I’ve seen houses sell 30,000 over their assessed value and no one wants to leave money on the table. Do you? I didn’t think so!
So let’s go back to the two values I was talking about earlier!
Market value is the value that a buyer…today…is willing to pay for your home. The most effective way to determine market value is to look through the prospective buyer’s eyes---they are the ones you need to impress. Positioning your home properly among competing inventory is a critical step, and it’s important that your agent devotes the time necessary to study current m…

3 Reasons Your Home is Not Selling


You've gotten your home ready to sell. You've painted the walls a neutral color, patched up holes or scratches in walls that have happened over time and replaced worn carpets. You've looked at comps from your neighborhood and decided on a price you believe will sell your home.

Showings start and your house sits without an offer. Unfortunately this happens. What are the most common reasons why your house isn't selling? I'm going to tell you why.

Price:

If you have chosen an agent to help you sell your house should have given you a reasonable price range on what your home will sell for. 

Did you listen and price accordingly? 

Legally an agent must price your home at the price you decide. You are the boss of your home sale--it is your house after all. If your price differs ask why they chose the price they suggested and look at the comps you were given. If you didn't initially go with the price suggested, the time is now to try it out. If you did agree on the price, the market may have softened and it's time to look at a new price.

If you have received any feedback from the showings, listen to them and take action. The feedback may be dumb to you, but agents work in this field everyday and know what sells a home. 

Go ahead and check out your competition. Ask your agent to show you homes you are up against, especially ones under contract. 

Condition: 

If price isn't the issue, the condition of your home could be the culprit. If you haven't replaced your worn carpets or painted your walls, get a quote and do it. Today's buyers do not want to put the sweat and effort into making their homes look like the magazines. They want a move in ready home. That is just today's market. 

Take a good hard look at your home. Are the knobs in the kitchen out of fashion? Replace them. Is your home untidy? Clean it up and give your home a good scrub over. A slightly outdated home in today's market will not sell in today's market. Does your home smell? Your friends are not going to tell you your home smells but your agent and other agents will. Open the windows and let some fresh air in. 

Changing Market:

Towards 2007 the housing market turned sour and by 2010 it had tanked. If you were buying in 2006 you couldn't possibly predict how selling a home in 2008 was going to be. 2019 has been a hot market but times change quickly and if the market is softening and you must sell, strap on and take an aggressive approach. Lower your price, improve your home, offer buyer incentives and concessions for closing costs. 

Revisit your reason why you want to sell and if you can't sell, staying in place or renting your home may be the best idea until the market turns around. 

Want more ideas on how to sell your home? I am happy to share my experience with you. Just ask!

Leigh Ann Fisher

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