The area of expertise all Americans have mastered is bargain hunting and bargain shopping. We have to, to survive. When we venture to the grocery store, we may purchase a can of house brand corn over the other brands; unless we are corn connoisseurs, and truly believe a certain brand tastes better, we are happy to salvage a few pennies.
Buying and selling a house is similar, though of lot more is at stake than in selecting vegetables. After buyers figure out what they want in a home, where they want to be located, and what the price range they want, they begin to research the best deals. With most subdivisions, the houses are built very much alike. Your home must have something to stand out from homes in your subdivision or your area. Instead of duplicating what everyone else has already done wrong, do your homework, and research! Sell it low!
Houses are sitting on the market and home owners have been dropping prices consistently trying to attract potential buyers. Once a house has been on the market too long, buyers may begin to think something is wrong with the home. If price keeps dropping the longer it is on the market, buyers assume it was overpriced.
Some steps you can take when setting your price is to first have an appraisal done. If you can, have more than one done by two different companies. This will keep you in line with the current market trends and prevent your agent from having to call 911 when you hear the value assigned by an objective third party. Once your appraisals are done, discuss pricing options with your agent, and consider dropping the initial starting price by at least 5%. This will show prospective buyers that your home is not overpriced, and you are competitive to sell.
When your home is placed on the market, make sure it is ready to go on the market. Always be one step ahead of what buyers will expect. Make sure all repairs are done, make sure your home is clean inside and out, and make sure everything is put away. This way, if you have to lower your price, you will be able to and you will still have your competitive edge. The market, unfortunately, is the worst it has been in 30 years, and if you are in a position where you have to sell your home, be prepared. Do your homework and research, and when you are ready - sell it low!
Sellers! There are two sides to every story. Your competitive selling strategy will help you sell your home more quickly so that you can take advantage of the great deals available to you as a buyer of your next home. Call Don Wenner today to discuss selling strategies in this tough market and locate your next Allentown home.
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