There is a common body of knowledge among real estate professionals that indicates that the longer a home is on the market, the lower the price will be. Many sellers discount this belief in the beginning because they feel confident their home will sell quickly.
Lowering the price is the most obvious thing that can be done to encourage buyers but it might be good to look at what builders do. Builders offer a variety of incentives such as upgrades, seller-paid closing costs, interest rate buy downs, washers, dryers, refrigerators or big screen TVs.
Interestingly, much of the resale market doesn’t employ these techniques. According to the latest NAR Home Buyers and Sellers Profile, 64% of sellers did not offer any incentives at all.
21% of sellers offer a home warranty. 16% of sellers offered assistance with closing costs and 6% offered credit toward remodeling or repairs.
The attached chart indicates that while 80% of sellers were not willing to offer incentives in the beginning of their marketing period, as weeks passes and their home hasn’t sold, closer to half did add incentives.
The ideal outcome is to maximize proceeds in the shortest time possible with the fewest unexpected issues. This involves having a firm understanding of current, local market conditions and crafting a marketing plan that will insure results.
There is so much at stake, the value of a trusted real estate professional is essential.
Author:Duane Caraballo Phone: 720-371-8629 Dated: January 27th 2017 Views: 242 About Duane: ...
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17 years of diverse residential sales experience from corporate relocation to millennial, high tech, socially-driven entrepreneurial clientele. Lifestyle architect and matchmaker for your dream home & cultural experience here in the Boulder area. Enamorate yourself with fine-food establishments, friends, arts, fun & the vibrant downtown energy living in Boulder has to offer along with a home that reflects your image, style and needs.
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""Duane Caraballo is an outstanding realtor. He is an easy-going, fun person to work with. His knowledge of the Colorado Front Range, the extremely competitive Boulder housing market, and genuine interest in our needs and desires made buying our property a fantastic experience. Duane was patient, extremely attentive, and offered sound advice during the entire process. We couldn't be happier with our investment or with the service we received from Duane. Truly, I am convinced that if it weren’t for Duane, we would never have been able to purchase and close on this Boulder property. We would certainly recommend Duane Caraballo and Re-Max realty to others. Thanks so much for everything!" 6/5/16"