Do you live in Maumee Ohio? Have you been considering buying or selling a home here in the near future? Well, here is a quick summary of single family homes that have been listed or sold with Realtors in Maumee since the first of the year.
Since January 1, 2007, there have been a total of 178 homes that were listed to sell. During the same period of time 64 homes were sold. On average it has taken 117 days on the market for them to sell.
What does all this mean and how should it effect what you are planning do to this spring? Well, for every one home that was sold, just about 2.78 were listed for sale. Consequently, there is a backlog of inventory available to pick from.
For those buyers with good credit and no home to sale this is an excellent opportunity to take advantage of favorable interest rates and reduced expectations from sellers. Media outlets across the board have been focusing on the housing bubble bursting and now sellers are becoming more realistic to these new market realities.
Now is the time for buyers get their "financial houses" in order and straighten out anything negative that might be on their credit reports. Get in and meet with a reputable mortgage loan officer to get "pre approved" for a loan.
Home sellers need be aware of the excessive amount of competition and:
- Price their home correctly from the start!
- Rely on most recent comparable sales in their area to set a price. I suggest within the past 3 but no longer than the past 6 months.
- Realize that you have one chance to make a good first impression. Remember, buyers right now are in the driver's seat and they have plenty of homes to choose from.
- Sweat the details ahead of time. Paint, Clean, Repair, Plant Flowers.
- Consult a professional ahead of time.
I've heard it said, and I believe it to be true that, "if you have the brightest bulb in the box, and it is priced correctly, it will sell"!
If you've been considering making a move and need help navigating through this changing marketplace, please contact me at http://www.rickturner.com/ I'd be glad to help!
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