Continuing this series, we share some basic information about marketing homes; for more, or to find out what Sandy & her team can do for you, get in touch with us! Sandy@exactrealtywa.comor 206-369-6240.
Part III of IV
How Long Has Your House Been on the Market?
Professional appraisers sum up their entire body of knowledge in three words: "Buyers make value." Your home is worth as much as a buyer will pay for it.
Three things that are irrelevant to the market value:
1. What you paid for it.
2. What you put into it
3. What you'd like to get out of it.
If your home has been on the market for months, it’s a clear message that the property may not be worth what you're asking for it. This is particularly true if there haven't been many prospects coming to see it. What you do at that point depends on whether you really need to sell, and whether you're working with a time limit.
If you're not really motivated to move soon, you can always wait - years if necessary - and hope inflation will catch up with the price you want. The problem is that in that time, your home begins to feel shopworn. Buyers become suspicious of a house that's been for sale for a long time.
If you really do need to sell, discuss a schedule for gradually dropping your price until you find a level that attracts buyers.There's no point in saying, " We simply can't sell our house."
Anything will sell if the price is right.