Rates are rebounding back to the low side after a bump last week. We are looking at a 12-15 month backlog of inventory in most markets so it continues to be a raging buyer’s market.
Does that mean you should stop listing homes or trying to sell yours?
Absolutely not!
Homes that are priced properly, prepared professionally and proffered passionately will pend promptly! Whew… sorry.
Let’s break that down a bit. Priced properly means that you have reviewed the most similar homes in your area that have sold within the last six to twelve months. You have then made adjustments to those values for amenities that are different than yours. For example, if you have two full baths and the comparable has only one full bath you should adjust the value of the comparable property UPWARD so that it would be comparable to your home. I know that seems backward, but it is the way professional appraisers do it and it makes sense once you realize that you are trying to make the other property look like yours, not the other way around. Then look at your competition and price JUST UNDER the other active listings unless they are all out to lunch! Your solds tell you the best story.
Professionally Prepared – Curb appeal, interior paint, carpet, cleanliness and staging all go into making your home stand out. Scrub it down and paint everything that has ever had paint on it. Think of it this way, you want to attack all five senses. Visual, audible (put on some Jazz), Smell (bake some Oatmeal cookies – they are my favorite) touch (set your thermostat to the most comfortable setting) and taste (invite potential buyers to eat your freshly baked oatmeal cookies).
Passionatley Proffered – Let the whole world know your home is for sale. If you are selling “by owner” you should expect to spend about 1% of your home’s value on marketing.
Selling your home in this market is NOT impossible, but it is a challenge. If you are doing it “by owner” then try it for about 30 days, then hire a professional, experienced Reator who will have access to the 2000 + agents that are dying to sell your home for you and are feeding their children on the premis that it can be done!
