Friday, January 27, 2017
General Real Estate Advice
We are in a strong Sellers’ Market as a result of a low inventory of available homes for sale. This real estate market can be welcome news to homeowners considering selling. However, the lack of homes for sale can also be frustrating for potential buyers who may be faced with multiple offer situations, bidding wars, reduced time lines for consideration of options, and the prospect of unconditional offers. We have also seen some properties not sell in this buoyant time period and the questions is asked….why??? Doesn’t everything sell in this kind of market? The answer is no…not always. Unfortunately, some homeowner’s expectations may be out of line with value due to media hype or lack of local information.
Selling your home should not be seen as “winning the lottery”…generally, your home is your most valuable asset….do not gamble with it. The key to achieving the highest and best price in this competitive market place is to choose your listing price very carefully after considering all the various statistics available to you through a well informed Sales Representative. Your initial list price should be in the range of value that attracts potential buyers but does not leave any money on the table. If you come to the market with an over priced listing of your home, you may discourage potential buyers from even looking at the home and may have to subsequently reduce your price moving forward …. thus opening the table for further negotiation and possible disappointment.
Where is the “sweet spot” in a listing price? What is the range of value which could potentially attract multiple offers, not leave any money on the table, and achieve the best result. There are many strategies…some better then others.
Call our office for a complimentary “Opinion of Value” and a discussion of the best approach to achieve the best results.