Saturday, February 23, 2019 / by Jennifer Gilbertz
Most homes that are priced right and in good condition are selling like hotcakes in this crazy seller’s market. I just read an article that said Spokane has surpassed the Seattle real estate market regarding housing demand. Its absolutely the best time to sell your home in Spokane’s history due to record low interest rates, buyer demand, home value escalation, and an influx of people moving to the area from other states and cities. However, there are a couple conditions that can make your home difficult to sell even in the best real estate market.
Over pricing your home in a seller’s market is the absolute worst decision that could end up costing you thousands of dollars in the long run. When I put together a comparative market analysis for home sellers I use comparable homes in the same neighborhood that are similar that have sold in the last 6 months and a large part of the consideration of these home comparables is to look and see what they originally priced their home at, how many days on market it took to sell, and what the final sold price is compared to the original list price. Time and time again the numbers show that overpricing your home originally will almost always cost you money in the end.
If you home is “custom” in the sense that you have unique tastes and have maybe DIYed a couple home projects that didn’t turn out Instagram worthy it might be hard to appeal to the general population of buyers. Most buyers in today’s market prefer turn-key updated homes that are move in ready and updated with today’s trends. Best advice would be to paint rooms a neutral light color so that buyers can envision themselves easily in your home. Also expect that if your home is “unique” it may take a bit to find a buyer that has similar taste or the money and gumption to alter your home to their liking.
Odors in the home may be hard to get rid of. Indoor smokers, pets (especially cats), or your families unique smells may be off-putting to potential buyers. Unless you are able to paint all the walls with an odor block paint and replace flooring that absorbs smells it may be really had to de-odor your home in time to list. If this is the case this may also delay have offers roll in immediately after your home newly hits the market. I did an open house for a co-worker awhile back and this house was GORGEOUS. It had beautiful woodwork throughout and an awesome layout. But it had one MAJOR issue. The house had a horrible lingering odor and even with candles and open windows the smell was overpowering. No matter the list price this house sat on the market for quite some time until the home sellers addressed the odor issue.
If you have the time, money, and gumption to tackle these items before listing your home, you will have a much better chance at selling fast and for more money.