Buying and selling a home are both emotional events, but selling a house in our Sacramento real estate market and any other market is even more emotional, as sellers put their heart and soul into their homes, remodeling, improving, and leaving behind indelible memories. With our low housing supply inventory that will continue in 2017 sellers rejoice in their opportunity to sell their homes for top dollars with little hassle and even with multiple offers. Yet, pricing your home right in a hot market is still key and Realtor.com offers some great advice and six rules on pricing your home right. http://www.realtor.com/advice/6-rules-follow-pricing-home/
Pricing Your Home Right
DO PRICE YOUR HOME RIGHT! When it comes to pricing a home, the majority of the sellers feel that their house is worth so much more than the rest of the homes that have sold recently. https://www.houselogic.com/sell/how-much-is-my-home-worth/?cid=pm_ps_bing_cac
DON’T FOLLOW YOUR FEELINGS; FOLLOW THE DATA! My duty as a real estate broker and professional is to present all the data, such as recent comps of other similar homes that sold in the neighborhood, statistics, and market analysis, which will help my sellers decide upon my suggested listing price. Thus pricing their home will be done based on carefully researched data and not emotions, feelings. By relying on the most current market data, sellers will avoid pricing their home too high. Also according to local appraiser Ryan Lundquist, it is important to http://sacramentoappraisalblog.com/2017/01/03/trends-to-watch-in-real-estate-in-2017/ choose similar homes to the one the seller has to sell, instead of focusing on the highest sold in the neighborhood and have appraisal issues later on during the escrow. Lundquist also points out that just because our housing inventory is low does not mean that sellers should command unreasonably high prices, which is also my position as a real estate broker. I like to be honest and upfront with my sellers during the listing appointment and not create false expectations.
Reasons Your Home is Not Selling:
- Home is overpriced.
- Home is outdated.
- Home is over-improved for the neighborhood.
- Home has been nicely updated and remodeled, but price is too high and buyers are not willing to pay for it.
- Few, or no showings at all is a clear indication of the house being overpriced.
- Plenty of showings, but no offers is also a sign that the house is overpriced.
- Price is king!
Top Cures for not Selling:
- Be proactive, not reactive, which simply means not waiting months and months before dropping the price and selling your home at what the market will bear.
- Do not wait till you receive a bunch of low ball offers; instead, adjust the price accordingly to attract those highly motivated and well-qualified buyers.
- Do not let too much time elapse in between price adjustments, or buyers will think there is something wrong with your house.
- Enhance the curb appeal on a budget and make things inviting, so buyers can feel at home.
- Work with highly reputable, honest, and experienced agents who can aggressively market your home and get it sold.
Besides having a three-page marketing plan for my sellers, I also market their homes on the radio show Real Life Lending on 105.5 FM And least, but not last, remember that buyers today have so much more information at their fingertips and they are not willing to overpay for a house, so evaluate the recent sales and price your home to sell and you might even get more than asking price with the right marketing strategy.
For more info on running and real estate, whether buying or selling, please e-mail me at carmenmicsa@yahoo.com, or call me at 916-342-2446. Running for real estate with joy!