Collins & Demac Real Estate



Posted by Collins & Demac Real Estate on 9/7/2017

Is now the right time to lower the asking price for your residence? If you've studied the housing market closely, set an aggressive price for your home and are still struggling to generate interest in your residence, the answer to this question may be a resounding "Yes."

Ultimately, there are many reasons why you may want to consider lowering the asking price for your house, including:

1. It has been many weeks or months since the last home showing.

Although your home listing initially may have stirred up plenty of interest, homebuyers have shied away from your residence over the past few weeks or months. Thus, there may be no time like the present to lower your house's asking price to widen your net of prospective homebuyers.

Reducing your house's asking price by even a few thousand dollars may help you generate interest in your residence. And in the days following a price drop, you may notice a significant increase in the number of requests for home showings as well.

2. Your home asking price no longer corresponds to the current real estate market's conditions.

A seller's market can quickly morph into a buyer's market. As such, you should evaluate the real estate sector regularly to ensure your home asking price corresponds to the current housing market's conditions.

Take a look at available houses that are similar to your own you'll be happy you did. This housing market data can help you determine if your house is priced appropriately based on the competition.

Also, examine the prices of recently sold houses in your city or town. That way, you can see how long these residences were available before they sold, find out whether you're operating in a buyer's or seller's market and plan accordingly.

3. You need to sell your house as soon as possible.

If you face a time crunch to sell your home, you should establish an aggressive price for your residence from the get-go. However, if you fail to generate substantial interest in your residence, you may need to act fast to lower your home asking price to meet your deadline.

For those who want to avoid the possibility of lowering a house's asking price, it often pays to work with a real estate agent. This housing market professional can help you establish a fair, competitive price for your residence, one that should help you stir up significant interest in your home.

In addition, a real estate agent will work with you throughout the home selling process. He or she will set up home showings, host open houses and negotiate with homebuyers on your behalf. Perhaps best of all, a real estate agent is happy to respond to your home selling questions and ensure you can make informed home selling decisions.

Before you lower your home asking price, consult with a real estate agent. By doing so, you can get the expert home selling advice that you need to determine whether to wait out the current housing market or reduce the price of your residence.





Posted by Collins & Demac Real Estate on 1/19/2017

Preparing to add your home to the real estate market? You'll need to price it accordingly to generate significant interest in your residence and accelerate the sales process. Finding the right price for your house, however, might make you feel like you're walking a tightrope. Of course, you'll want to maximize the value of your home. But at the same time, you'll want to ensure that you can avoid the dangers of asking too much or too little for your residence as well. So what does it take to price your residence effectively? Here are three factors you need to consider:

  1. Competition
Take a look at the prices of similar homes in your area that are currently listed on the real estate market. By doing so, you will be better equipped to determine the right price for your home. Active listings are accessible here on my website and can help you minimize guesswork during the pricing process. This information offers substantial value, as it gives you a glimpse into the current state of the real estate market in your area and where it may be headed. Also, you should examine past home sales data. This information can help you identify home pricing trends over the course of several months or years. It is essential to use home pricing and sales data to gain a leg up on your rivals. However, this information should serve merely as a starting point to help you get a better idea about what your home may be worth in today's real estate market. And ultimately, you should feel comfortable with your home's price, regardless of whether this price matches or varies from similar residences that are available.
  1. Homebuyers
How would a homebuyer view your house? Considering the buyer's perspective before you list your home is paramount, as this enables you to take a critical look at your residence's strengths and weaknesses and price your home appropriately. For example, if you recently revamped your home's kitchen, you can highlight your first-rate kitchen to homebuyers. This feature may help your home garner interest from large groups of buyers. Thus, it may be a good idea to consider the total cost of your kitchen renovations when your price your residence. Comparatively, a home that needs a lot of work, aka "a fixer-upper," may require a discounted price. You can market your residence as a fixer-upper to set the expectation that your house boasts a below-average price but may require significant repairs. Therefore, if you establish realistic expectations for a fixer-upper, you will be better prepared to garner attention from the right homebuyers consistently.
  1. The Real Estate Landscape
The real estate market constantly evolves, and those who study market trends can set the right price for their home at the right time. In a seller's market, you may be able to offer a higher price due to a limited supply of quality residences. On the other hand, in a buyer's market, you may need to set a below-average price to draw attention from homebuyers who can choose from a wide range of top-notch residences. Studying the real estate market can help you become an informed seller. As a result, you'll be able to determine the ideal price for your residence and improve your chances of speeding up the sales process.







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