When selling your home, some factors are outside your control…but they do play a key role in selling your home. You should understand what they are and how they impact pricing your home.
MARKET
Market conditions play a critical role, and it is vital that you have an understanding of not only what is happening in your metro area, but also in your community…and for your type home. In the same neighborhood there could be a shortage of houses but an overabundance of condos, resulting in very different market conditions for different properties in the same community.
LOCATION
There is nothing you can do about location, it is what it is…and location exists on different levels, both area and specific home setting. Keep in mind that every home has a buyer, regardless of location, but commonly preferred locations are always in higher demand and less desireable locations usually require lower pricing to fnd a buyer. Also keep in mind that what may be a negative for one person could be a positive for another.
STRUCTURE
If you are selling you are not likely to be doing a total home renovation so the structure is what it is. If you did recent updates, know that you will likely not recoup all your investment. You will have a big challenge if there are many properties similar to yours on the market in your area. It will be more important than ever to set your property apart from the rest…looking the best for the best price in both your style and condition categories. Patience is also necessary…as is being responsive to feedback (or lack thereof) and making changes as indicated. If you aren't having any showings, that's also a sign that something should change…but don't give up. Don't forget…it only takes one person to buy.
Sharlene Hensrud, RE/MAX Results - Email – HomesMSP.com
I agree with this Market conditions play a critical role, and it is vital that you have an understanding of not only what is happening in your metro area