3 Things To Know Before Putting Your House On The Market
There are a few key things to think about before you put your house on the market. Learn more here.
The question of the day that I plan to answer for you is, “What are some things I need to know before deciding to sell my home?”
Here are a few key points to keep in mind when you’re thinking of selling:
1. Know your competition. Review all the comparable properties that are currently for sale in your area. How many bedrooms do they have? Are their kitchens and bathrooms updated? Do they have a garage? Looking at other homes that are currently for sale will help you appropriately price your home so that it appeals to buyers.
2. Know the current absorption rate. The absorption rate is the number of houses that are selling in your area each month. This rate is also based on price points: Homes priced at or under $250,000 typically sell in under 30 days in the current market; homes priced above $250,000 will typically sell within a three- to six-month marketing timeframe. The absorption rate is very important to consider when thinking about how quickly you want or need to sell.
3. Price your home based on your circumstance. If you need to relocate or sell your home quicker, you’ll definitely want to price your home more aggressively. If you have some time to wait, then you can price your home appropriately based on the current market status. Never overprice your home: Buyers tend to lose interest, and as a result, sellers will, unfortunately, ride the market down.
Hopefully, you found this information helpful! If you have any questions about today’s topic or suggestions for future videos, don’t hesitate to reach out to me. I’d love to hear from you!