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Selling Your Home
HOW LONG WILL IT TAKE?
If I
quote you the average time it takes to sell a home in your price range
and location, I would have to point out that some are sold in one week,
others in 15 weeks, and some didn't sell at all. There are many
variables. Here are some of the most important:
1.
TIMING. - Timing is everything. Supply and Demand make real estate
sales. Builders and developers make new supply; when they don't build,
buyers seek existing housing. Timing is not always seasonal. I try to
find buyers to match your TIMING needs.
2.
COMPETITION. - The rapid real estate sale occurs because the product
beats the competition. What else is on the market when your "For Sale"
sign is posted? Buyers are comparative shoppers. They are about to lay
out a big portion, or all, of their life savings and are not usually
impulsive. They may lay awake several nights before making the big
decision. How does your home usually compare with the competition?
3.
PRICE. - The selling price is an agreement between the seller and
buyer as to value. Many things contribute to the final agreement
(including TIMING AND COMPETITION). What is the right price? The right
price is the sale price. If the comparable properties are selling at
a lower price and your home is gathering dust on the shelf of
inactivity, then the price is wrong,
4.
PHYSICAL CONDITION. - On occasion, some Sellers forget what it means
to be a Buyer. They are afraid to spend $500 for a needed job that would
yield $1,000 to them. Where the property shows poorly; where there is
excess wear and tear; where there are big deficiencies they cannot be
"swept under the rug". In such cases, one of two things is needed to
make the sale happen; one, repair it; or two, reduce the price to
compensate. Remember that buyers tend to expect BIG reductions for SMALL
deficiencies.
5.
FINANCING. - An adverse financial atmosphere will delay the sale.
The cost of using other people's money is a barometer that reflects the
health of the economy. High interest means higher payments. Qualifying
is a skilled analysis, balancing income and outgo, with lenders having
the final say. I can recommend alternative financing you may consider to
make your financing package viable to a qualified Buyer.
6.
MARKETING. - The wide exposure of the REALTOR Multiple Listing
System (MLS) plus the market effect of correctly applying the preceding
five factors, will help reduce the time required for a sale.
The
inclusion of a well designed MARKETING PLAN executed by a professional
like me is what results in the best price, in the shortest time, with
the least inconvenience.
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