As a seller in a "Buyers" market, you may find yourself asking, is it worth putting my home on the market right now? For some, you may not have a choice and for others you would rather capitalize on being able to move up and purchase at a lower price or maybe downsize but pay less for higher quality. Whatever the reason may be, you're still stuck with the decision to sell your home.
Making the choice to sell your home is never a decision taken lightly but in todays economy and market with such job uncertainty it is more important now than ever before to be well educated and make sure you are going to be able to sell your home for top dollar in the quickest amount of time.
In the current inventory for the York, Lancaster and Chester counties we are sitting on a 17 month inventory of homes. What does that mean for you as a seller? Well if we stopped listing any new homes on our MLS today, it would take 17 months to sell everying thing we have. That is fierce competition for you as a seller. That is why it's so important for you to be educated on selling your home and who you hire to represent you as your agent.
It can often be tempting to go with the Realtor with the most expensive marketing plan or the Realtor that offers you the highest listing price for your home but this can sometimes end up being the downfall and costing you more and profiting less than you would had you priced in competition with the market.
What do I mean by pricing in competition with the market? When listing your home, one of the most important steps is to anticipate the market and place yourself ahead of the market. Depending on your time needed to sell you may want to place it slightly ahead of the market if you are not in a rush to sell but still want to receive top dollar for your home. Or if you need to sell quickly, you may price it well ahead of the market and create buyer competition for your home achieving a quick sell with high buyer competition and top dollar received.
Have your Realtor, preview all the homes available in your market at a price that you would list in a normal market. Next look at what your estimated days on market would be for your home slightly ahead of the market and then if you placed it well ahead of the market. Placing it ahead of the market may mean your home is priced lower netting you less money but take into concideration your mortgage payments you'll be making for the extra months you'll be on the market if you don't price it ahead of the competition. It is your Realtor's job to know the market and property price and market your home, but this is YOUR home, it is a team effort to sell your home!
There are many more factors in selling your home quickly for top dollar but pricing is something you can control, make the right decision for you!