This is a great posting by Holly Kirby! Once again, we know everyone falls in love with their home and we think it is worth more than any other home in the neighborhood, but it is very important to price our homes with the market and also consider condition.
Holly Kirby Weatherwax--Your Realtor® in Northern VA
The Northern Virginia real estate market is not dead. Ask any Realtor who pays attention, and they will tell you that homes are being listed and homes are going under contract. It is not what it was, but it is 'alive.'There is, however, a segment of the market that has no pulse. These are the homes where the homeowners are unwilling, or unable, to take the advice of the professional Realtor and set a reasonable and realistic sales price.Buyers are looking for a deal. They may not be able to get the deal they hope for, since many homes that are priced correctly spur competition. What this means, however, is that buyers will just skip over a house that is priced higher than recent comps. There are plenty of others for them to view.When you determine your price, there are many factors to consider. Some of these include:
- Recent sales of comparable homes
- Condition of the property
- Urgency to sell
- Motivation to sell
- Location of the propertyThe one I give the least amount of consideration to is 'Motivation.' You might 'need' to get a certain amount out of the house to retire. You might 'want' to move to a different neighborhood. You might be in 'no hurry.' In the past, these factors might have factored into your price. No more. The buyers DO NOT CARE why you are selling or what you must get in order to sell--unless it benefits them.Your sales price must say to the buyer, 'I am interested in selling and I am being realistic.' If it doesn't say this, you might as well not prepare your house each morning for showings. The Buyers will not show up.It is not entirely a buyer's market. I think that it is moving toward a 'fair market;' one where each side gives a little to get the outcome they desire.If you want to sell your home, make sure your price lets the buyers know--otherwise, don't waste your time!
I believe that buying or selling real estate should be a GREAT EXPERIENCE. If I can help you, your friends or family buy or sell their next home in Northern Virginia, please let me know!
If you need help with a home outside of Northern Virginia, I have an extensive network of referral agents and will make sure you are working with the best!
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