Decide Which Size Fish You Want to Be

Reblogger
Real Estate Agent with Virginia Capital Realty

This is one of my favorite blogs because it summarizes and speaks to the main points I always review with my sellers.  

Your house has to stand out and be above the competition in terms of condition and price.  Reducing price rarely brings an offer on a house that is tired, outdated and basically needs a lot of work.

There are few buyers and even fewer "move-in" ready, repaired homes...so if a seller is prepared to spend a little to bring the house up to buyers' demands, while keeping price in check,  they will have a quick sale.

 

 

 

Decide Which Size Fish You Want to Be

 
 
   
"It is better to be a big fish
in a small pond, than to be a
small fish in a big pond "
 
The Galveston Daily News, June 1881
 
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     It was reported recently by the  National Association of REALTORS  (NAR)  that "median existing single-family home prices are rising in more metropolitan areas, but a lack of inventory  -  notably in lower price ranges  -  is limiting buyer choice in an increasing number of markets around the country".  (Latest Quarterly Report)             
 
     They have evidence of rising home prices too.  Prices rose in 110 out of 147 metro areas.  And another statistic of interest that configures into the overall picture on current market status is this ... Distressed homes (foreclosures and short sales) accounted for 26% of recent sales.  That percentage being down from 33% a year ago.
 
     Many other news and housing data sources report much of the same.  Housing inventory is down in many markets.  Selection is suffering.  Look at these examples:
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     And while inventory definitely influences purchases and housing prices, other things, such as Buyers' ability to purchase, also are playing a big part.  Recent indications show that current home buyers are now proving ample income and can meet down payment requirements when seeking financing for their new home purchases.  Don't forget too, interest rates are at historic lows, and monthly payments on home purchases remain favorable to home buying.
 
    So ... what should all these reports and facts mean to someone thinking about SELLING their home?

     It means, if you're contemplating a sale, NOW might be the time to act.  It means, that the old adage shown above ... "It is better to be a big fish in a small pond, than to be a small fish in a big pond" ... could definitely work in your favor as you list and sell your home.

     How?? As I see it, it boils down to this:  Choices.  Which size ... and what kind ... of home-selling fish do you  want to be? 

  •  Do you want your home to stand-out?  Create curb appeal.
  •  Do you want potential Buyers to imagine themselves living in your home?  Make any needed repairs.  De-clutter, clean, and stage your home well.  Modernize.  Make it appealing.
  •  Do you want Buyers that fall in love with your home .. and then act decisively, and respond quickly with an offer?   Price your home realistically.
  •  Do you want to be the best and most desirable home in your area's "pond"?  Act now to take advantage of current low inventory levels.  Contact an agent today.
 
     I can tell you, as a  Mortgage Lender,  what I'm hearing backs-up the stats and news articles currently being reported above.  I'm hearing complaints about home inventory and property choices all the time, from both home buyers and agents alike.  Good condition, well-priced homes are scarce. 

     But I'm also hearing ... Good condition, well-priced homes get attention.  Good condition, well-priced homes sell quickly.  And I know for a fact that ... Good condition, well-priced homes arrive at their new Buyer's Closings successfully.  They appraise out.  Underwriters find fewer issues to raise.
 
    "Good condition, well-priced".  Does that describe your  home?  It can, if you prepare properly for your sale.  It can, if you listen to and follow  the experienced advice of your real estate professional.
    
         Now is the right time to list and sell your home. Recent NAR reports and statistics back that decision up.  So do others.  They also prove the wisdom of the old saying,   "It is better to be a big fish in a small poContact Gene Mundt, Mortgage Lender for an Agent Referral todaynd, than to be a small fish in a big pond."

 
   You as the home seller just need to wisely ... "Decide which size fish you want to be" ...
 
 
 
 
 
 
 
     * Hoping to become a successful home seller in  Will County, Chicagoland, or elsewhere across our nation?  In need of a referral for an experienced, successful real estate agent to help you sell your home?  Contact me  today.  I'll be happy to refer you to the best in the business.
     I can be found at any of the following:
Cell/Text:   708.921.6331 
Email:  genemundt
Skype:   630.219.1316 
Mobile:  m.genemundt.com

    

   
 

 

 

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Comments (4)

Gina Tufano
Ask Gina & Company with Pearson Smith Realty - Sterling, VA
Ask Gina & Company, Northern Virginia Real Estate

Great choice of reblog. Sellers definitely need to have an idea of where they want their house to stand among the competition. 

Aug 14, 2012 07:17 AM
David Popoff
DMK Real Estate - Darien, CT
Realtor®,SRS, Green ~ Fairfield County, Ct

A little elbow grease goes a long way, first impressions are lasting, if you selling present it that way.

Aug 14, 2012 08:00 AM
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Athina:  Thanks for re-blogging my post today!  Much appreciated.  Hope it proves very beneficial to all those that read it. 

Gene 

Aug 15, 2012 12:07 PM
Athina Boukas
Virginia Capital Realty - Richmond, VA
Certified Residential Specialist (CRS)

Thanks Gene! And thanks to David and Gina for dropping by.  

It is an easy read and catchy. Hope more sellers catch on.  Good homes are hard to find for buyers that just want to move into a "clean slate".  No one wants someone else's honey do list or a tired looking home to deal with after scrimping and saving for the downpayment and closing costs.

Aug 15, 2012 12:24 PM