It’s a whole new world for home sellers. So, how do you make your house stand out so it will sell when sales are slow?
Price your home correctly. When mortgage rates are low and buyers are chasing too few houses for sale, sellers can ask high prices and get them. Even when houses are overpriced for the market, sellers are likely to receive some offers, as buyers are often desperate to find a home that meets their needs.
But, when things are slow, pricing is absolutely critical. Instead of pricing your home aggressively high or low, you should consider pricing your home no higher than the middle of the range for homes comparable to yours. And if you need to sell your home quickly, consider pricing your home in the bottom 25 percent of comparable homes. Why? With few buyers chasing many homes, you need to quickly get the attention of those who are serious about buying. If your home is priced too high, you many never get buyers to even consider looking at your home.
As real estate professionals, we strive to keep in touch with my clients and provide them with information that I hope they will find useful. This Blog gives us an opportunity to let you know about the state of the market and current trends. It may even touch on ways that you could enhance your home’s value. I hope the market data will help you with understanding real estate today and help you with your real estate decisions. If you have any questions, please do not hesitate to contact us.