With average home prices back where they were 10 years ago and sales still sluggish, it seems as if sellers can’t catch a break. But if you want to sell your home this year, there are glimmers of hope. The National Association of Realtors recently reported that sales of existing homes nationally rose slightly from the year before. Plus, the inventory of existing homes for sale fell 21 percent from the year before.
Contact the appraisers at www.scappraisals.com to assist with pre-valuation of your home. Remember a sale could fall through if the property does not appraise for the mortgage. Cost does not always equal value.
But even if you have less competition and better prospects, today’s buyers are still a tough bunch. They’re nervous and risk-averse. They want a home in move-in condition, with all the upgrades completed, because they know they can’t count on a quick increase in the home’s value to help them recoup money they spend on improvements. “You must find a way to improve the condition or lower the price until a buyer pulls the trigger,” says Leigh Brown, an agent with Re/Max in Charlotte, N.C.
How long will it take to sell your home? You can get a rough idea by looking at the average “days on the market,” preferably for your neighborhood and price tier. You’ll find that and other market statistics on the website of the local Realtors association or from an agent. You may have some advantage if your home is in a desirable location because, say, it’s in a good school district or close to jobs.
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