Selling in Today's Market

Q: "We need to sell our house in Truro and we are wondering when is the best time to put it on the market. Should we wait until spring and how can we position it to move quickly?"

A: It is no secret that the real estate market is still adjusting. Those who don’t have to sell right now may be better off waiting until the market stabilizes. For those who ‘need’ to sell, don’t fret. Property is still selling and there are steps that you can take to maximize your chances of standing out amongst the competition in your price range.

1. TIMING: Should you list now or wait until spring? The answer is simple. List it now. Spring may be the ideal time to list a property in a primary home market, but in a second home market, buyers start looking in the winter so they can ensure that they will occupy the property before season begins. Another reason to list sooner than later is to get your property out there before all the others who think they have to wait until spring!

2. STAGING: Give your house the best odds to impress by making it as attractive as it can be. Clean it thoroughly, clear away unnecessary clutter, and light the rooms well. You would be surprised how many buyers are instantly turned off by an untidy or dark house and they dismiss a property like that within the first five seconds. Give your buyers a reason to look through the whole house. Prepare the house as if it going on a first date! It’s all about first impressions.

3. PRICING: We’ve saved the most important for last! It is critical that you price your property appropriately. Over priced homes are not selling in this market. Look at the comparable properties that have sold within the past few months and work with your Realtor® to price your property to sell. Resist the urge to listen to the opinions of your family and friends. Remember, your Realtor® is in tune with the market and knows the value of your house. If you want results, price the house competitively. Keep in mind that, for every month the house doesn't sell, you will pay carrying costs, and ultimately you must deduct those from any higher price that you may have achieved by waiting an extra year to get your price. Furthermore, with the current market conditions, there’s the risk that every month that passes may equate to a decrease in your home’s value. Can you afford to wait?

If you would like to sell, please contact us for a complimentary market analysis of your property.