Using the Internet to Increase Your Home Value

Article submitted by Diane Harsanyi, Senior Real Estate Specialist, at Realtors' Morristown East Office.
For more information, she can be reached at 973-539-8000, extension 146.

Attention Seniors:

The Internet is a Great Tool for Increasing the Return on Your Biggest Investment, Your Home.

With home sales remaining at record levels, if you are thinking of downsizing, it is a great time to sell your property and cash out on your investment. According to the National Association of Realtors (NAR), homes are posting the highest sales pace ever. Existing-home sales are forecast to rise 1.6 percent to a total of 6.89 million this year from a record 6.78 million in 2004. In addition, the Association recently announced that national median existing-home price for all housing types is expected to rise 8.8 percent in 2005. This is great news for senior homeowners looking to make a change.

The question is, what is the best way to get the most out of your sale? In what David Lear, the NAR's Chief Economist, calls an "exceptional housing market," the Internet is a great tool for marketing your residence. According to a survey by the NAR, three out of every four consumers use the Internet as a key search tool. In fact, 72% of homebuyers drove by or viewed a home that they saw on the Internet and 51% walked through a home they viewed online.

Despite the tremendous popularity of online house hunting, the Internet can be overwhelming and consumers often may feel information overload. Using a large broker with a strong Internet presence is essential to effectively market your property and optimize the return on your investment.

When getting ready to sell his home of almost 30 years, Eugene Church found that utilizing Internet tools and a large broker who could effectively put those tools into action was extremely helpful in his home selling process. He enjoyed the advantages of communicating with his real estate agent, Diane Harsanyi of Weichert, Realtors by e-mail when it was more convenient than meeting in person. He was also pleased that his home was listed on Weichert.com, a state of the art Website where thousands of buyers could view his property inside and out. He described his selling experience as "smooth, efficient and very favorable."

The Internet, partnered with a great agent, is a tremendous tool for selling your home. From e-mail, to Internet listings and resources, seniors can get the most out of their sale with the help of the World Wide Web.