Price it well and watch it sell!

By
Real Estate Agent with The Creig Nothrop Team of Long & Foster

Price it well and watch it sell!  Sometimes you only need a few words to get your meaning across.  If you need or want to sell your home you need to first do some homework.  Most people do not realize just how much prices have gone down in the past several years.  Although it has been all over the news casts, When the average consumer decides to sell their house, they are in denial.  Most prospective sellers are under the inpression that this doesn't apply to them.  Well I have news for them.  IT DOES!  In January of this year the median sold price of a home in the Mid-Atlantic region was $235,250.  the average days on market was 100 days http://www.rbintel.com/statistics . In Anne Arundel county, MD Median sold price was $299,950.  with an average of 136 days on market.  http://www.rbintel.com/statistics/anne-arundel-county-md.             

                                        If you want to sell your house, you need to look at the stats, shop the competition and then get real! Selling your home is the same as selling anything in the stores with the aspect that if the guy down the street is selling his home for X amount of dollars and the house is the same as yours, this is your competition!   When you find the realtor that you would like to work with, you need to sit down with them, go over the comparables and then maybe even look at some homes on the market that are your competition. When the homes that are already listed for sale seem to have an updated kitchen & maybe baths and yours doesn't, then you need to realize that this home may sell for more then yours. 

Make sure that your home looks nice and clean at all times and possibly update kitchen and baths to at least some extent.  You will not believe the amount you can get in return for your investment.  As stated in this aricle http://www.msnbc.msn.com/id/36699743/ns/business-real_estate/ Any house can be sold if it is priced & staged correctly.  Most buyers, after listening to the media, are looking for a deal.  If you Price it well, you can watch it sell.  But remember to keep it nicely decorated and clean also. 

The experience I have had with my buyers today is that they don't really want to do much work and they want it for a great price. So, if you don't really need to sell and you want to get a great price for your home, you just might want to wait for the market to snap back.  This could be quite a few years!

Want a marketing anaylsis on selling your home, contact our office at 410-544-8500 or go to www.cbrhomes.com.  

 

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Rainer
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Nancy Fraser
Exit Realty Premier - Massapequa Park, NY
Realtor, Massapequa Homes for Sale 516-729-0278

Excellent post Joyce. In this market the homes need to be compelling in price and sometimes the owner will have multiple offers to negotiate up.

Feb 24, 2011 01:51 PM #1
Rainer
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Joyce Gebhart
The Creig Nothrop Team of Long & Foster - Severna Park, MD

Great point Nancy, I forgot to mention that a good low price could possibly bring price wars!  Thanks.

Feb 24, 2011 02:26 PM #2
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Rainer
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Joyce Gebhart

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