Price vs Value-What's important for Twin Cities Home Sellers to know in Saint Paul, Minnesota

You've heard the news that homes values are up 14% over last year in the Twin Cities real estate market. Now you're wondering, is it too late to list my home this year? To answer that question, you have to ask, are there still buyers out there that want to buy my home. The easy answer to that question is yes. I know this because with all of my new listings, we have many showings in the first week or two before we get an offer. So if you are seriously considering entering the Twin Cities real estate market soon, you have the important decision about setting the price of your home. It's helpful to keep in mind that there is a difference between "price" and "value." Price is the amount that a seller asks for their Twin Cities home -- it's that number at the top of the listing that tells the buyers what you think your home is worth, in comparison to the other homes on the market in your area. The fact is, the price is different from the value. Value is the amount the property is worth. The value is based on many factors, among them location (neighborhood and placement within the neighborhood), current market supply and demand, condition, special features of the property, and more. You can't change the location of a home, nor the current Twin Cities Real Estate market conditions, however, by improving the property, a savvy Twin Cities seller can increase the value of his or her property. Dian Hymer is a nationally syndicated real estate columnist who has often written on the subject, cites one example of location as a value determinant, "An incurable defect, like being located next to a freeway or on a busy street, is something that can't be corrected." On the other hand, she points out how other factors, like details maintenance that has been deferred, are correctable. That is why the advice about the importance of improving a property before it comes to market are so on-target; deep clean the home, correct deferred maintenance items, clear out clutter, de-personalize, re-paint, re-fresh, re-organize. Some elements of property value can't be changed, but a smart Twin Cities home seller can still materially raise that value, which is the real secret to fetching a higher price.If you are looking to sell your local property this fall, The Rochelle Allison Real Estate Team, Twin Cities Real Estate Specialist team with Keller Williams Realty has a marketing plan that can start right now to help bring you top dollar. Call us today to get a free, no obligation market analysis of the value of your Twin Cities home!