Traditional Sellers Information
This area is for Owners that are selling the old fashioned way. What does that mean??? It means that you have equity in your property or owe nothing to a lender for your home and you do not need a bank or mortgage lender to help you decide how much you are going to ask for your property. In this market full of short sales and REOs (bank owned property) you are a welcome sight! Buyers want to buy from you in lieu of the banks/lenders. It doesn't mean you should over price your property, But it does give you a bargaining advantage.
Pricing your home appropriately becomes more important then most sellers realize. Pricing your home too high might seem like a good idea since you have determined that you can always lower the price later, but "later" may be too late. Once the home has been viewed in the market for more then a month, it will become stale inventory. Buyers and Realtors will have seen the home and know that it is overpriced. Many realtors specifically search for homes that are no more then 45 days on the market and specifically look for properties that are either new or reactivated on the market after seeing everything that is active on the market. Sellers take the risk of lowering their price too little, too late in trying too chase the market down. Once this starts to happen, the seller continues to stay behind the price curve and is forced to take less then they would have if they had priced it correctly to begin with.
Your home is either priced to sell or priced to keep. An over-priced home will get stale in a hurry. The best thing that can happen to sellers in a down market is that they get amnesia. Sellers need to forget what thier home was once worth, Because that high price will not return for a very long time. So, until there is consistent upward pressure on price, Sellers need to be very careful about pricing thier properties too high or risk keeping them. Let's keep in perspective that if an owner is not in any type of hurry to sell and is willing to list his property for a at least 6 months to a year in order to feel he is getting the best deal. That is totally understandable and I will back him up on that plan. But keep in mind that interest rates are low now, government programs and lender incentives and free money grants to purchase homes are available now. A year from now all these factors can change and can make it much more difficult to find a good buyer.
I can meet with you and discuss your desires, goals and time frame for selling. We will review any repairs that need to be made, and discuss any other other issues that may affect values such as location, age of property, proximity to other negatives such as high traffic or near commercial buildings. By way of various tools and data, I will evaluate your property and show you the value range where I think it will sell. You can decide if it is a good time to sell your home. If you would like to have a conversation about what your home is worth and would like me to prepare a FREE home market analysis for you, give me a call at 773-573-9798 or send me an email to firstname.lastname@example.org
Real Estate Broker
7020 W. Higgins Ave., Chicago, IL 60656