-Be Sure Your Home Is In Good Condition
During the pandemic, buyers overlooked a lot as they were looking to take advantage of low interest rates and move to satisfy a different set of lifestyle issues. Now we are in a housing recession, as many experts say, driven by interest rates that are double what they were during the pandemic. Buyers are hesitant especially as they see homes in disrepair that need additional cash for renovation/repair.
A presale home inspection may be important as it will show areas in most need of repair. Addressing glaring, easy-to-fix issues as well as deep cleaning your home, adding some staging techniques and creating great curb appeal by not neglecting the exterior approach to the home will entice buyers to bid higher.
Be Realistic With Your List Price
In this changing real estate market it is now more important than ever to price your home correctly to sell. Having an in-depth analysis done to understand the months of inventory available for sale is crucial. Is there an oversupply or undersupply of homes in the neighborhood? Next, look at recent sold comparable sales but don’t ignore those homes currently for sale in competition with yours. How does your home compare – location, features, size, condition – and are these homes lingering on the market
unsold – rejected by buyers. Pricing aggressively will attract more buyers and with that competing bids, bringing about a quicker sale. National Association of Realtors statistics show that homes on the market for 45 days lose 8% from their original asking price. Buyers and agents start to question what’s wrong with the house.
With fewer buyers feeling confident to purchase now it’s especially important to accommodate agents and their buyers – even with last-minute showings. Have your “ready–to–show” plan in place so you’re easily available for all requests to show. Also be willing to negotiate, if not on price then on certain points that encourage a good buyer to move forward. It’s certainly different from the dynamic, fast-paced market of the pandemic, but this is our new normal, and best to adapt in order to accomplish your goals.
Choose A Highly Experienced Real Estate Agent
Most agents, unless they’ve been in this business since before the financial crisis, have not experienced a difficult, constantly changing market. A great agent is able to interpret the market for you and give accurate guidance and advice, ultimately saving you time and money. Your home sale represents one of the larger financial transactions of your life and you need an agent with an outstanding track record to represent you.
For more information on selling your home, relocating, or finding your next home, contact us today!
Helen Keit | Licensed Real Estate Broker www.KeitTeam.com firstname.lastname@example.org 917.887.4924
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