Thursday, December 12, 2019 / by Pamela Glende
What are today’s home buyers most interested in?
The answer may surprise you. While location, amenities, updates, and the layout of the home are important the biggest thing that concerns them is the price. While searching for a home the first thing they look at is the price. No matter how perfect a home is, if it isn’t their budget and you miss their target even by a thousand dollars you could miss out on an entire pool of potential buyers.
One of the biggest mistakes you can make is to over price your home. Overpriced homes sit on the market and statistics show these homes net less than market value in the end. The longer they sit on the market the more potential home buyers feel that there must be something wrong with the home. You’ll have to do price drop after price drop until an offer comes in. The offer most likely will be far less than your lowest price drop. The reason for this is that the potential home buyer feels they can get a deal and that you may be desperate when they look at the number of days the home has been on the market.
Another thing to consider is let’s say a home is priced at $258,900 you may want to list at $250,000. The reason I suggest this is that home buyers tend to look at home in their search at increments of $25,000. Also, if the price is slightly underpriced then there is a good chance you could start a bidding war and end up with thousands above your listed price. Here in the Spokane Real Estate Market we are in a strong seller’s market.
Everyone thinks their home is special and worth more than their neighbors. Both Real Estate Professionals and potential home buyers do their homework. They look at comparable homes in your neighborhood. Home buyers are smart these days and they do their research.
While the internet may tell us that our home is worth more, you’ll need to be careful. The internet has not been in your home to check out the condition, quality of updates etc. While it is a good place to start you really need to leave it to the professionals. Enlist the help of a qualified Real Estate Professional.
Real estate professionals will factor in many different factors when pricing your home. These will include things like location, is it on a steep hill, noise or busy traffic, updates and quality of those updates, and condition are just a few of the things they look at.
When listing a house to sell and pricing your home to sell for the most enlist the help of a professional. Interview at least 3 and make your choice as to which you feel has your best interest at heart, their experience and make sure you do your homework and read their reviews.
I’m Pam with Haven Real Estate Group in Spokane WA.
Thanks for reading.