Selling a residential home in our current economy has perhaps never been more challenging. The high level of unsold real estate inventory, coupled with low selling prices, means homes are selling over a much longer time period compared with 2002 to 2007. However, the real estate industry has historically been highly cyclical and one would expect home values will soon stabilize.
What Silvergate brings to the table?
Paul Muhlberger, Silvergate Realty’s Broker/Owner, has successfully listed and sold over 80 Charlottesville area homes since 2005 ranging from the mid $100,000’s to over $500,000. When selling a home with Silvergate Realty, you can anticipate the following steps:
- Comparative Market Analysis (CMA): after an initial consultation and walk through of your home, the Agent will promptly return with a CMA. This powerful professional tool will illustrate the price at which your home will likely sell, given factors like neighboring homes, similarly sized units available for sale, your home’s overall condition, comparable sales within a 6-12 month period, and the cost of borrowed funds (lending rates, etc.).
- Repairs or Modifications: If there are needed repairs or maintenance issues with your home, the Agent will assemble, coordinate, and manage professional trades people that Silvergate often uses for their Property Management Clients.
- Listing your home: Once we agree on a good list price and your home is ready to be offered for sale, the Agent will likely engage a professional photographer to best illustrate your home’s features.
- Showing your home: Now it’s time to show the buying public that you are prepared to sell your home. Perhaps the best means to facilitate this is to “list” your home on the Charlottesville Area Association of Realtors Multiple Listing Service (CAAR MLS). The public can search homes for sale through http://www.caar.com, and through our interactive property search on Silvergate’s website, which both list thousands of homes for sale in the Charlottesville region.
- It doesn’t stop there: Throughout the listing period, the Agent will continuously update the MLS information, while also getting the word out to other Realtors who represent Buyers. Further, we will hold a series of Public and Realtor Open Houses designed to increase awareness of your home.
- Getting an offer: When we receive an offer from a Buyer to purchase your home, the Agent will conduct a professional contract presentation complete with an assessment of current market conditions which may be dissimilar to when your home was initially listed. With this knowledge in hand, both the Seller and the Agent will work to develop the best response to the Buyer’s offer.
- With you until the end: From the time we agree to the Buyer’s offer until settlement, the Agent will coordinate the following activities:
- ensure the Buyer is diligently pursuing his/her loan application, if applicable
- if the Buyer professionally inspects your home prior to settlement and there are requests for repairs, Silvergate Realty will negotiate on your behalf
- if you agree to perform repairs, Silvergate will coordinate and manage all work to be performed
- ensure all necessary documents are distributed to your Settlement Agent
- remind you to transfer all utilities