Why Home Pricing and Condition Are So Important Right Now

You will have seen from our recent monthly local real estate market updates that, although homes are still selling in good numbers, the continuance of high mortgage rates, in particular, is making things challenging for buyers.

So what does this mean if you are planning to list your home soon?

Pricing and condition are absolutely critical to the current home selling process. In a sense they always are defining factors, but right now they are arguably even more important.

Some sellers like to adopt the philosophy of starting with a high price and seeing how things go. This is never a smart strategy, but is even worse at the moment when buyers are struggling to obtain finance and won’t even look at homes that are above what they can afford in monthly repayments.

It’s therefore necessary to engage with a highly experienced agent who knows current market dynamics inside out and can suggest a list price that is most likely to attract buyers and ultimately achieve the best returns.

Likewise, condition of the home is very important when more homes are on the market, as we have seen lately, due to lower overall sales levels. Very simply buyers have more choice and therefore the most well presented homes in any sector stand the best chance of attracting interest and being sold.

Just as we can ensure accurate pricing, we can also advise on the best ways to stage your home for buyers. The really good news is that, in the majority of cases, it’s more a question of presentation of the property, rather than a need for wholesale redecoration. But, again, agent experience counts for so much in terms of understanding what the key condition triggers are for buyers and how to address them.

For expert advice and best results, call Jim today for a consultation – 415 492 0100.