Dave Grime shares his thoughts on this question.
January 30, 2024
Sellers have asked me this specific question so many times, that I needed to write a blog post about it.
For Sellers, much like Buyers, analyzing the market you’re selling in is key. For a Seller, a dream market is when we see very low inventory and lots of Buyers house hunting.
The laws of supply and demand come into full effect. You may expect multiple offers, and…firm offers in those market conditions…but stay tuned to another blog about the dangers of selling in an inflated overheated market. I’ll get to that later.
In reality, there is never a bad time to sell. You’ll just be selling in the current market conditions, and if purchasing, you’ll be purchasing in the same market.
In a slower market, where the buyers are in the driver's seat, you must price competitively, look at your competition, and make sure your home shows the best compared to the rest.
Make sure your realtor has a full-scale marketing plan in place, Professional photos, videos, social media and more. Everything is visual these days and that’s how to get people through your door.
Once a successful deal is made, you’re ready to purchase in the same market conditions. In an overheated market, you may gross a couple hundred thousand dollars more but may have to spend that extra money in order to secure a home for you and your family.
Stay tuned for advice on pricing your home, as well as how we look at multiple offers in an overheated market. See y’all soon.
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