What Factors Affect the Sale of Your Crofton Home?

Home Value

There are quite a few factors that could affect your home’s value.

There are several different factors that could affect the sale of your Crofton, Maryland home. Some of these factors are out of your control while others can be helped with wise decisions. Let’s take a look at some of these factors that influence the sale of your home.

Things You Can’t Control

People often use the phrases “buyer’s market” and “seller’s market” no one really tells you how this could affect your home’s sale. A buyer’s market describes a market that favor’s the buyer in terms and pricing. Homes in this market tend to stay on the market longer than at other times and you should adjust your pricing based on the inventory on the market. A seller’s market favors the seller. Homes may sell faster and even sell above the listing price. Interest rates also affect the marketplace as lower rates spur buying while high rates can buyers to wait for the former. Another factor that is out of your control is the pricing of other homes on the market. It is important to compare your homes to the other homes on the market in a comparative market analysis in order to get an idea of how your home will fare on the market.

Things You Can Control

One of the things you can control about your home’s sale is your listing price. Your Simply Referable real estate agent will talk to you about the competition on the market. After talking about the comp prices, we will come to a mutual decision on the pricing of your home, being careful not to overprice it. Another item that affects the price you can control is the terms and conditions of the sale. Not all buyers can purchase a home without conditions being met. Buyers need financing, time to sell their own home, and usually request a repair or two. Keep an open mind when selling your home and be as agreeable possible. Helping with closing costs, agreeing to a shorter or longer closing, or offering a home warranty on your property can help it sell more quickly.

Important Factors

Some other factors that affect the price of your home are the location and the condition of your Crofton home. The location is one of the most important factors when selling your Crofton home. Schools, neighborhoods, and conveniences can affect the price of your home as well as how long it takes to sell the home. This is one of the most stable factors in selling your home and can add or subtract value to your home. Being near a top rated school can boost sale prices astronomically. While the condition is important to a home, so is the age. A historic home in fair condition can actually pay more than a mid-century home in move-in condition.

There are many factors that affect your home’s price. For more information on these factors or for help selling your Crofton home, call Simply Referable today!

Working with Simply Referable!

The small team of realtors at Simply Referable is deeply focused on creating a memorable selling experience for you and your family. Each of our team members has an area of expertise, and we strive to form lasting bonds with each of our clients. We want to be your go-to realtors every time you or a friend wants to make a change. With local experience, our realtors can help you choose a house that is just the right fit for your family, now and forever. Contact us online or give us a call at 410-983-9045.