Month: February 2017

What Is a Sellers’ Market?

What Is a Sellers’ Market?

A sellers’ market is a real estate buying and selling market where there are more people wanting to buy homes than there are actual homes for sale. This is to the advantage of the seller, as it helps increase the value of their home and what they can sell it for. They will be able to sell “as is” quickly at a good price with little to no repairs. Buyers will have a harder time buying a home as the competition will swoop in first with a higher bid and charm the seller with a better price.

How to Price Your Home to Sell in a Sellers’ Market

In order to price your home in sellers’ market, there are several things to consider. First take a look at your surrounding area. Much of the U.S. is in a sellers’ market right now, but pricing varies from locations to any homes for sale winter haven fl. Is your area growing? Desired schools and doctors help to value your home. Find out the average (DOM) days on the market for homes in your area. If homes are selling in 10 days or less, then you are in a strong sellers’ market and have more leverage. If homes in your area have been rising with the market curve, then it is suggested to start your listing with the market value. You will likely get your price quickly and possibly a higher price should you have multiple bidders.

How to Take Full Advantage of a Sellers’ Market

First thing of order is to get your home ready for sale. Give it a good clean up from top to bottom and get rid of extra junk and things you’ve been hanging on to. Worn carpeting won’t stop a buyer in a sellers’ market, but more often new carpeting sells as well as when it is mixed with hardwood flooring. Friday’s are a good day to go on the market. Upload virtual tours and pictures Thursday night so buyers can see you new listing first thing that day. Limit your showings of the house, you don’t want people to come sees your home at all hours of the day. When you limit the hours, more than one buyer is likely to show up at the same time. Let the bidding begin! Review all of the offers on your home. Consider the earnest deposit, is it cash or financed? How much of a down payment can the buyer afford? Are there waivers for inspections or a contingency on selling another house first? Consider the costs to you as far as closing and any requests or allowances regarding the house. If you’re not thrilled with an offer, counter offer to the buyer or to several buyers. Then ask them to resubmit their new best offer price for your home. If the buyer is going to finance, then your home price must meet the appraisal price of your buyer’s lender. Sold to the highest bidder

Don’t Do It Alone, Hire a Real Estate Agent

Don’t Do It Alone, Hire a Real Estate Agent

More and more people are trying to buy and sell their home themselves after doing a few google searches. They don’t understand why they need to hire any savannah ga real estate agents instead of just making the sale themselves online or through classified ads. While a few are able to sell themselves, most don’t have the same luck and are left wondering why they were having such a hard time selling their home. If you’re thinking about going about selling or buying a home alone, here are some things that you might want to consider before putting that “For Sale by Owner” sign in your yard.

You Won’t Have to Deal with as Many People Directly

If you’re selling your home, there will be a lot of phone calls and showings that you will have to deal with if you’re doing it by yourself. Many of these are from people that really aren’t that interested in buying your home but just feel like looking. If you are buying a home, you might have to deal with agents from the builders pressuring you into making a purchase. Hiring a real estate agent can put a buffer between you and these other people and will save you a lot of time and stress.

They Know Your Neighborhood

If you want to know about local schools or the different things that an area has to offer, a real estate agent can be extremely helpful in at least pointing you in the right direction. Real estate agents know some interesting insider information about the neighborhoods that they work in and can help you choose an area that is a perfect fit for you and your family. They can also give you information about other homes in the area to make sure that you are paying a good price for your new home. Information like which homes sold after being in escrow and what the actual sale price was can easily be accessed by your agent.

They Can Help with Pricing

While you may have fallen in love with your home and be emotionally attached to it and this can cause you to make some mistakes. It can be difficult for someone to put a price on their own home as they will always be slightly prejudiced about how good it is compared to other houses on the street. While they make sure that you set a fair price on your home, they are also motivated to sell for as much as possible as they receive a portion of the price.

You Don’t Have to Do the Negotiating

Selling a home can be exhausting and speaking to potential buyers is a big aspect of this. You become emotionally invested in the transaction as it is one of the biggest ones that you will ever make during your lifetime. A real estate agent can handle the sale objectively and keep the burden off of you while you focus on moving.