OK, it’s time to return to Real Estate 101. The biggest reason that homes remain unsold is that they are overpriced.
For many sellers, this lesson is only learned after it’s too late, resulting in frustration and finger pointing. Let’s try to put the record straight. Many markets have experienced extremely high levels of activity over the last few months. Inventories adjust as the number of eager and willing buyers drops off. Simply put, buyers are becoming choosier.
Sellers must look around them and take note of homes currently for sale on the real estate market, similar homes that have recently sold, and homes that have languished or expired on the market without selling. In other words, look at those prices and learn from the experiences of those who have gone before you and save yourself a lot of heartache.
A primary rule of Real Estate 101 is that a home’s value is determined by the buyer, not the seller. That means today’s buyer, not yesterday’s buyer and not tomorrow’s buyer.
Buyers are in fact plentiful, but they’re just as tuned in to the media’s scare tactics as the sellers are. If you want to sell your home to “today’s” buyer, consult with an experienced, real estate professional and follow their advice. Get your home in the best condition possible, get your inspections completed and the habitability repairs completed, get all the extra “stuff” out of your home and stored off site, and most important of all — price your home competitively against your rivals. Do all these things and you’ll be a winner.
Contact the Kathy Henne Team RE/MAX FINEST by calling (937) 778-3961.
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