It all depends on how you price and market your house, the market has improved. I just recently sold a house for a client for $7000 less than what it was bought during the market hype at the end of 2005. They were expecting to get a bigger hit since the market has not fully recovered. If you would like free market analysis of your home, please call me at 540-737-8150 or you can fill out the form in my web site www.buyorsellfredericksburg.com for free Comparative Market Analysis.... more
In regards to your price question: If you have the stomach for it, consider this - Look around at the comps in your neighborhood/area. Find the lowest priced home that is comparable to yours, then price your home at 85% of this number.
Sounds crazy? Well, as a buyer in this market, I'm looking for the best deal, which means I'm looking from the bottom up. I might not even consider visiting your home if there are 2 or more homes similar to yours in the neighborhood going for 10k or more less. Would you?
The objective with this method is to get an enormous amount of buyers looking at your home and writing up offers. Then your sale becomes a high stakes ebay auction so to speak. Buyers who take the time and energy to write up these offers are more willing to negotiate and go above and far beyond asking price (at 85% of lowest comp) because there is now a sense of competition and even excitement.
The best day to sell your home has already past (that would be the first day on the market) - because that's when it is fresh and also gets populated into all the buyers emails who have signed up with other agents for that service.
A listing can become stagnant after too much time and buyers will begin to wonder "what's wrong with this house? Maybe I can low ball it"
Two other ideas to help you along:
1. Consider getting a professional inspection ($250-400 normally) - as a interested buyer , if you presented me with a recent home inspection and there were no major issues, I would be much more inclined to make you an offer. I would still get my own done by a professional of my choosing if my offer was accepted (I mean, you could have got Billy Bob your brother-in-law to do it for all I know), but at least it would give you an extra edge in this hard market.
Plus, since they are probably going to get an inspection done, and if there are issues, wouldn't you rather know now rather than 20 days from closing?
2. Offer a home warranty ($410) with the sale of your home- This covers major systems like HVAC and your major kitchen appliances (Fridge, Dishwasher, Stove) for the new owners for a year and is renewable. Who doesn't like a little free insurance ?
Good luck with the sale of your home, I wish you continued success!... more