As the market begins to show an increase in available inventory, it’s important for everyone to recognize that in a “normal” market, houses sell because they are:
Priced right.
Meaning comparable sales need to be 60 days or less, preferably 30, & sellers cannot “reach” thinking they can squeeze another $10,000 out of the large pool of buyers. The buyer pool is very nervous, & with interest rates exceeding 6%, consumers will need time to adjust to the rapidly increasing mortgage rates.
Showplace Pretty
Home sellers must prepare their homes to look better than the competition, & accede to at least some of the buyers’ demands after inspection.
The overall market will be fine, as there are more buyers than sellers, but how we prepare our clients for the buy or sell must include a discussion of expectations.
Novella Real Estate