Now that the market is finding a more natural balance, we’re seeing homes sit on the market longer and price reductions happening much more often. Buyers have quickly gained back much of the ground they lost when the market was white hot a few months ago. If you’re selling your house, the rules have changed. Here’s some advice:
Stage it. This can be as easy as removing a few pieces of furniture or applying a new coat of paint. Have your realtor of other neutral third party have a walk through your home and point out some things that might be changed. You’ve lived in the house for a while so you’re used to the way it is. Potential buyers will see your house with a more critical eye. At very least de-clutter and depersonalize.
Have your home inspected and fix anything that needs fixing. Offer this inspection free of charge to potential buyers. They’ll appreciate saving the $400 and the peace of mind an inspection brings.
Price it right. Get a comparative market analysis done. Find out what’s sold recently, how much it sold for and how long it was on the market. Avoid the temptation to overprice your home by 10% just to “see what happens”.