Can You Compete?

The last few years have been tough on traditional home sellers. Downward pressure on pricing has made it very hard for many people to compete against the large numbers of bank-owned and short sale properties. Unfortunately, many home sellers price their home for what they “should have sold for” when they first thought of selling. Over-pricing a home can be a huge mistake. In order to price properly, you need to take many things into consideration. Location, features, competition, and several other key factors should be considered when looking to sell. The fact that you “need” to get X amount of money isn’t always the most realistic place to start. I hate to tell people that, but it’s the truth.

In the current market, buyers are looking for a deal. Obviously buyers have always wanted a deal, but with media reports of homes being sold for pennies on the dollar, people have been told that foreclosures and short sale homes are a great way to go. Let’s face it, for the average buyer, many things go into a decision to move. But with interest rates bordering on ridiculously low, and prices many thought they wouldn’t see again, people are looking for a deal as much as a home. A recent report from the National Association of Realtors tells us that first-time home ownership is way up, and I have seen lots of smart people moving up into larger homes in better areas to take advantage of the current market. Fortunately, competing with the banks in today’s market may not be as hard as you think. As long as the correct value is in place, many buyers are looking to avoid the short sale process and the headaches that can come from bank contracts. A traditional sale sounds pretty darn good to many people in the market to buy that may have had a bad experience with a short sale or a bank transaction. As a seller, you can compete – you just might need to have someone on your side to help you through the process. 🙂

Bottom line is this… If you have questions about buying or selling real estate, "Just Call Nick!"