I just read an article that stated the market was turning in 2018 (if you can believe such forecasts) to one that is balanced if not shifting to favor buyers.
Another article I read suggested sellers move their home (get contract signed in 2017) this year because the new tax bill in process addresses changes regarding capital gains. (As proposed, owners must live in their house at least five years out of the last eight; currently, the requirement is two years out of the last five.)
Regardless, here are some cold hard facts every seller needs to understand before putting their house on the market.
- Your house is really not that special! The sad truth is no house is as special to a stranger as it is to the owner. No house is worth as much to a stranger as it is to the seller.
- Lower available inventory does not mean buyers will overlook material deficiencies.
- Buyers will necessarily accommodate your restrictive showing conditions. If you really want to sell then accommodate reasonable showing requests. A twenty four hour advance notice is not accommodation - unless there is a real reason such as medical or child care issues. Even with these there is a chance the buyers will skip your house.
- Price is still king. Even in a tight market the philosophy of "if you will price it they will come" is faulty.
- While a seller may look for reasons to get more buyers will always look harder for reasons to pay less. Make sure your house is ready for the market on day one. If something is in need of repair do it before the sign goes up!
- Don't expect to price high and negotiate down a lot. An unreasonably optimistic price is often a sign the seller will be unreasonable in negotiations. While a seller may set a list price it is the market that sets the real price. Buyers have a lot of resources available - especially local knowledgeable real estate agents. They will know when the price is overly optimistic.
- The first ten seconds will set the tone of the entire viewing. Like your mother said...first impressions matter. First impressions are rarely changed - except with a big price reduction!
Selling your home can be an exciting time but it requires work - on your part and on the part of your Realtor.
Preparing to sell a house begins on day one when its purchased. A house must be maintained through out its entire life to maintain its value.
Thinking about selling your Viera, Florida home? Call or text me at 321-693-3850 to discuss market values, the process of selling (and costs).