It’s tough being the seller in a buyer’s market. But with the right research and knowledge you can be successful.
First you must recognize that housing markets are local. Home prices are very different in different areas. Whether it be from state to state or town to town.
Demand will change depending on the price range and even the neighborhood. You need to become knowledgeable of your neighborhood and current values of the surrounding homes.
Make sure you are taking notice of whether prices are going up or down, how many days are homes staying on the market, and is the area seasonal. Analyze who is buying and selling in your market.
Most homes are selling for 5% less than the list price in this market, so price your house accordingly so it doesn’t sit on the market for a year and get passed by.
Working with a real estate agent will help you find that price point and educate you on the conditions of the real estate market so you are better positioned when your house goes up for sale.
With all your research, and knowledge from you real estate agent you’ll have the competitive edge over the guy who’s dropping his price every month, without the air of desperation. Plus, in a market where prices are not rising, you’ll make more money if you sell quickly.
