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Getting Ready to Sell your Lake House
 

Getting Ready to Sell your Lake House

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Knoxville, TN - Selling your multi-million dollar lake home or property on Loudoun Lake takes preparation, organization and professional marketing. Use these tips to walk you through everything you ...

Knoxville, TN - Selling your multi-million dollar lake home or property on Loudoun Lake takes preparation, organization and professional marketing. Use these tips to walk you through everything you need to know to be fully prepared to sell your lake property in Tennessee, from understanding the Knoxville housing market to choosing a professional real estate agent that can handle your lake property listing.

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    Getting Ready to Sell your Lake House Getting Ready to Sell your Lake House Document Transcript

    • Getting Ready to Sell your Lake House lakeloudounliving.com /loudoun-lake-home-sellers/item/13-getting-ready-to-sell-your-lake-house Knoxville, TN - Selling your multi- million dollar lake home or property on Loudoun Lake takes preparation, organiz ation and professional marketing. Use these tips to walk you through everything you need to know to be fully prepared to sell your lake property in Tennessee, from understanding the Knoxville housing market to choosing a professional real estate agent that can handle your lake property listing. Select ing a List ing Agent A good real estate agent is worth his or her weight in gold during the home selling process. Be sure to choose an agent or even better — a lake property specialist who is an expert on all things real estate in your neighborhood and Loudoun Lake: the agent should know area lake communities, what home upgrades are necessary to attract buyers and all the intricacies of the transaction. The average agent won't have the detailed knowledge of waterfront properties in your area. From marketing your lake home for maximum exposure to negotiating a price and closing the deal, hiring the right agent for your needs will get it done right! Det ermining Lake Propert y Value Determining the right price to sell your lake property is much more a science than an art. If the price is too high, your house is passed over. Set too low and you stand to lose thousands on the sale. When setting the asking price for a home don't let emotional attachment and other factors unrelated to the home's true market value end up influencing your sound judgement. Letting emotion drive up your asking price is a mistake that can end up costing you big in the end. Some benef it s of pricing your lake propert y right include:
    • - Real estate agents will be enthusiastic about presenting your property to buyers - Selling faster (because it is exposed to more qualified buyers) - Doesn't become stale or lose its marketability The good news is that hiring a lake property specialist with knowledge in the local real estate market will give you the facts you need to know to make an educated decision on asking price. Lake Propert y Market Analysis Performing a Comparative Market Analysis (CMA) is crucial in determining the fair market value of your home. A CMA will not only provide you with everything you need to know about about your local housing market but will also include how much similar homes are fetching in your neighborhood and whether you're dealing with a seller's market. Prices for homes that have recently sold in your neighborhood represent what buyers are prepared to pay. Listings that have expired generally are overpriced or poorly marketed. Hiring a listing agent with years of experience and knowledge of the local housing market makes him or her best qualified to interpret the data and make sound recommendations. Calculat ing Expenses & Cost s Be sure to budget for all the expenses associated with selling a home. Typical costs besides real estate agent fees and the cost of a new home are legal fees and disbursements, utility and property tax adjustments, home inspection, repairs and renovations and moving costs. Have lake property in the Knoxville or surrounding area that you would like to list on the market? Give me a call today to schedule an appointment at (800) 485- 1290. Please share your thoughts and comments.
    • Staging Your Lake Home lakeloudounliving.com /loudoun-lake-home-sellers/item/16-staging-your-lake-home Actual SOLD Listing 5835 Russell Brothers Rd Sharps Chapel. TN List Price $949,000 Knoxville, TN - People don't buy houses, they buy homes. Did you know that a well- maintained and attractive lake home tends to sell more quicker and for a higher price? Home staging and makeovers aren't something new but it does make it more attractive for potential buyers to picture themselves living in your home. 5 Tips f or St aging your Lake Home The goal in home staging is to decorate your home to showcase it's best features and make it more attractive to lake home buyers. Creating a positive first impression is key when selling your home. A small investment in cleaning supplies, neutral furnishings and optimiz ing furniture placement can give you the edge over competing sellers in your market as well as add thousands of dollars to your property value. 1. Clean up - If you're planning an open house the home should be clean from top to bottom. Don't forget the garage as well as the patio deck and boat dock. Potential buyers should have a lasting impression when they visit your home. 2. De- clut t er and Dispose - It's important to create lots of space to make your house more sellable. Be sure to declutter and dispose of any items from your kitchen and bathroom counter- tops. Pull up old carpets or remove area rugs to showcase your hardwood floors. 3. Organiz e - Storage is a priority for many home buyers especially in closets and cabinets. Prioritiz e and re- organiz e by neatly storing all of your personal items to maximiz e space. Put away any clutter that may be hiding potential storage space. 4. Furnish Empt y Rooms - Too much space can sometimes work against you. Especially if home buyers can't get a
    • good sense of space with an empty room. Staging a room with the right furniture can make it easier for buyers to imagine living in the space. 5. Curb Appeal - The more inviting the outside the more likely and excited people will be to see the inside. Make sure the entryway to your home looks pristine. A well maintained lawn and a little landscaping from your local home renovation store can do some wonders.
    • Showing Your Lake House lakeloudounliving.com /loudoun-lake-home-sellers/item/15-showing-your-lake-house Actual SOLD Listing 5835 Russell Brothers Rd Sharps Chapel. TN List Price $949,000 Knoxville, TN - Having your lake house ready for open house viewings at all times will save you from last minute cleaning sprees and potential lost offers because of sloppy housekeeping. Use these tips and last minute ideas to ensure a perfect first impression. Preparing f or an Open House It's important to create the proper atmosphere that helps home buyers envision themselves living in your home. 1. Home St aging - Preparing your lake house for sale is beyond decorating and cleaning. Home Staging makes your house look bigger, brighter, cleaner and inviting to home buyers. It's all about the small details that highlight your home's best features. 2. Bright en t he Room - Make sure the lighting in the room is adequate. Turn on all the main interior and exterior lights and open drapes and blinds. Light filled rooms are always appealing and bring attention to your home's details. 3. Spark t he buyer's imaginat ion - Make your visitors feel welcome. Setup fresh flowers, light scented candles and provide refreshments and snacks to keep people at your open house longer. If you have pets put them in a fenced yard or have friends look after them.
    • Real Estate Tax Tips lakeloudounliving.com /loudoun-lake-home-sellers/item/6-irs-real-estate-tax-tips Looking for Real Estate Tax Tips? Did you know that a deduction of certain moving expenses can be claimed if you are moving to a new home because you changed a job location or started a new job? If you're moving into a new home you've just purchased here's a couple of tips that may put a little extra money in your pocket. Deduct ible Moving Expenses For 2012, the standard mileage rate for using your vehicle to move to a new home is 23 cents per mile. You may be able to deduct moving expenses whether you are self- employed or an employee. Your expenses generally must be related to starting work at your new job location. However, certain retirees and survivors may qualify to claim the deduction even though they are not starting work at a new job location. Also see IRS Deductible Moving Expenses - Publication 521 Sale of Residence You may qualify to exclude from your income all or part of any gain from the sale of your main home. Your main home is the one in which you live most of the time. If you sold your main home, you may be able to exclude up to $250,000 of gain ($500,000 for married taxpayers filing jointly) from your federal tax return. This exclusion is allowed each time that you sell your main home, but generally no more frequently than once every two years. Also see Sale of Residence - Real Estate Tax Tips Have a comment or tip you would like to share? Please feel free to leave us a comment!