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Having realistic expectations of our housing market is absolutely crucial when looking to list your home and even in the home purchasing process. You see, as buyers, I can completely understand that we want the biggest home for the least amount of money- I’m a millennial, trust me.. it is anything to save money! As a seller, we see the value in our home because of the blood, sweet, tears, and memories that we have put into our first family home- believe me, I’ve been there too! When we look at buyers and seller’s opinions in this light, we essentially get a game of teeter totter and have a difficult time to find ourselves meeting at mutual acceptance- c’mon people, we all have one goal and it’s to sell your home or find your a new one. Feelings and emotions run extremely high when it comes to both purchasing and selling, so this week I’d like to focus on finding realistic expectations for sellers. next week, we will touch on buyer expectations.
Dear Seller,
Your home is perfect, absolutely perfect for that one or many special buyers. Your home is worth its weight in gold in regards to memories made, holidays spent, or updates you may have done to your kitchen or bathroom. Trust me- we see this and can absolutely appreciate it. Our market is currently extremely demanding of more inventory- have you thought about selling your home? It definitely should be something that is on your radar. Who knows, you could get more than you expect for your precious home. When you decide it is time, we need to keep a couple of things in mind. If you home is ready and priced appropriately, it will sell- maybe even in one day. What do I mean by priced appropriately? I mean, while you have great upgrades, we need to look at what is selling around you. Pricing to meet neighborhood expectations is absolutely crucial, because if we over price people tend to shy away. My biggest suggestion is to price realistically and avoid giving much negotiation room. Our goal as Realtors is to get you the best price for your home and to make your home selling purchase a smooth transition. How do we look at pricing? Typically we look at comparable homes in regards to home size, lot size, location, year built, layouts, and take updates into consideration. A good way to explain pricing is if we have two homes right across the street from each other that are identical and one has a traditional septic system and the other has an extensive and expensive system- which one is worth more? Neither- both would price out the same due to comparable homes in the neighborhood. This is just a rough scenario, but I would be happy to further clarify.
My ultimate goal is basically to clarify that market data and demand truly dictates what homes are worth in current market times. We are seeing a shift in the paradigm where seller’s are becoming highly sought after because of our low inventory, but keeping realistic prices in mind is absolutely crucial when introducing your home to such an aggressive market. To chat more about your home value, please do drop me a line so we can discuss a marketing plan for you!
Best,
Kele Osborn
Windermere/ NCW
509.630.9696 | kele@windermere.com
*Licensed in the state of Washington*
