High inventory lets home buyers be pickier, demand more
By Dian Hymer
We're in the midst of a challenging home-sale market in many areas. However, soft markets can provide opportunities for some home sellers. The trick is to price your home right for today's market.
The most difficult reality for most sellers to face is that prices in their neighborhood may have dropped during the last year or two. Some sellers will find that it may not make sense to sell if the probable sale price is too low.
If you have the luxury of waiting for a better market, stay put for now. Be sure to check with a knowledgeable real estate agent before you make a decision to move forward -- one who knows the local market well.
HOUSE HUNTING TIP: It is an advantageous time for move-up buyers, who may have to sell for less than they would have a few years ago. But, they may also pay a lot less for the home they buy.
A seller usually has an advantage selling when there isn't much competition from other listings. Even though the listing inventory was low in some areas at the end of 2007 and the beginning of 2008, anticipate that there will be more listings coming on the market in April and May -- the traditional home-selling season.
Today's home buyers are extremely price-conscious. If there is a lot to choose from, price will certainly be a big factor. A price that's too high for the market won't bring the desired result.
More... http://www.hankv4979.remax-midstates.com/remaxmidstates/modules/agent/agent.asp?p=story&id=66296
Wednesday, May 28, 2008
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1 comment:
We are constantly surprise with the price some homeowner ask for the property. We are double surprised that some agent will still take the listing. There are several listing in the area that are 30,000 or more over priced. Guess what these homes just sit.
Oh well - I guess the owner will catch on in a fw months.
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