Home Inspection Tips and Selling a Home in the Long Beach Island Real Estate Market
The LBI real estate market has been witnessing a period of strong growth. Both the number of homes sold in the average sales price have been on the rise. Over the past six months, the average price of a single-family home on Long Beach Island has been approximately $1.1 million, or about $550 per square foot. With such high numbers, it is clear that buyers are willing to invest in the Long Beach Island real estate market, so it is important to make sure that your home stands out. One of the best ways to do this is to adhere to these home inspection tips for LBI real estate sellers and be proactive when putting your house on the market.
Home Inspection Tips for LBI Real Estate Sellers
Years ago, home inspections were not the common event in a real estate sales transaction. Now, they are more or less commonplace for any buyer who is intending to use the home in the immediate future. Since a home inspection is most likely inevitable, there is real value in a seller taking a proactive measure in conducting a home inspection first. By ordering an inspection before listing a home on the market, a seller will incur the field inspection (usually around $500), however this expense can have some immediate positive results.
- A home that has been through inspection can be repaired prior to listing the home for sale
- A home that has undergone an inspection can advertises fact and may be enough to sway a buyer to purchase a home
- Understanding the overall condition of your home, it may be priced accordingly market and should sell more quickly
It is important to remember that a home inspection is technically considered opinion and therefore a potential buyer may still wish to conduct an inspection. Many deals fall apart in the LBI real estate market due to an inspection even when the repairs are relatively minor in nature. When a seller takes the first step and conducts an inspection prior to listing, they will be in a better position to negotiate any requests for repairs. In addition, they will be able to repair any damage to the home and remedy any safety were structural conditions thus eliminating much of anxiety for a buyer. This alone may be enough to keep the deal together and get a home sold. In addition, understanding the overall condition of a home allows for proper pricing in the LBI real estate market. This will make a home more attractive to buyers and should result in a quicker sale. Speed matters when trying to sell a home, as every day has a cost associated with owning a home in the form of taxes, insurance, and other expenses. By removing one potential roadblock, a sales transaction may close more quickly and end up with a higher net proceeds to the seller.
Selling a Home in the LBI Real Estate Market
It is a bit of an oversimplification, but there are three main reasons homes do not sell. They are pricing, condition, and marketing. If a home is priced incorrectly or is not marketed correctly, it will not entice a buyer to make an offer. Proper pricing and marketing are therefore essential steps to selling a home. That said, even if the home is priced correctly and marketed well, it is important addition a deal may not close. By being proactive in conducting a preliminary home inspection, a seller can ensure that condition issues may be remedied by their home will appear better in the LBI real estate market. For more information about home inspection tips for LBI real estate sellers or the LBI real estate market in general, contact me and I will respond right away.
By : Nathan Colmer | The Van Dyk Group
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