When it comes to selling your house, you want three things: to sell it for the most money you can, to do it in a certain amount of time, and to do all of that with the fewest hassles. And, while the current housing market is generally favorable to sellers due to today’s limited housing supply, there are still factors that can cause delays or even prevent a house from selling.
If you’re having trouble getting your house to sell in today’s sellers’ market, here are a few things to think about.
Priced Too High – Price It To Sell, Not To Sit.
Many sellers I talk with think today’s housing market is similar to two years ago. During those times, mortgage rates were low and buyers were rushing to buy. During those times, the housing inventory was low. Spoiler alert, the inventory is even lower. There were news reports after news reports how 10-15, sometimes 30 or more offers were submitted on one house. Those days are mostly gone.
Oh, there are still multiple offers increasing the accepted price, but not to the extent we experienced two years ago. At that time appraisers had a difficult time keeping up with the ever-increasing housing prices. Today, appraisers are more sober. Today, some houses are not appraising for the sales price.
Recommendation. Price your house to sell. Hint. To get more, price a little low.
If It Looks Good, It’ll Make a Good Impression.
When selling your house, the old saying “You never get a second chance to make a first impression” matters. Two years ago, a seller might not even need to vacuum to receive multiple offers. Today, not only is cleaning strongly recommended, but I strongly recommend “staging”.
For those not familiar with the term “Staging” let me briefly explain.
Staging is creating an environment that highlights the best features of your house and makes those features look even more desirable. Staging could be as simple as painting. It could mean new flooring is needed, or a temporary replacing your furniture with the Stagers carefully selected pieces. There is a cost for a Stager, but it’s been my experience that offers submitted are often thousands of dollars more than the cost.
Bottom Line
Follow the advice of experts, an experienced Realtor who knows how best to market your house. The experienced and full-time Realtor is keeping current with today’s housing trends