Pricing Your Port Orchard A Home To Sell – Making Smart Decisions In A Buyer’s Market
In the process of selling your Port Orchard home, the single most important item to address is pricing. Pricing your Port Orchard home has several factors which must be addressed in order for the outcome to result in successfully attracting a buyer. This is especially true due to the fact that most local markets are experiencing what is termed a “buyer’s market.”
A “buyer’s market” is, in simple terms, one in which there are more homes for sale than there are buyers for those homes; basically a glut on the market. This can occur when the banking industry experiences a record number of homes they have in foreclosure. In this case, these foreclosed homes have saturated the real estate market, increasing inventory beyond the market. Another factor may be that people who are currently renting are hesitant to commit to a long term mortgage, even at lower interest rates, because of job instability.