Selling Your NC Home in 2010 Part II
Selling your NC home in 2010 part two.
With inventory levels still very high in my local market and demand weak , especially for homes over $225,000 what does a seller to do?
- Answer this question truthfully to yourself.” Do you have a compelling need to sell at this time?” If the answer is “NO” then quit reading this and enjoy where you are staying.
If you answer “YES” to question 1…read on.
- Are you prepared to do what you have to do to get the house sold?
- Will you be willing to listen to a REALTOR®, who is FULL-TIME, and knows the market?
- Is it in great condition? NO, deduct $ or fix it up quick
- Is it going to show well, can it compete with new construction or do you have pop-corn ceilings. dark stained trim and shag carpet. If the answer is “NO” on part 1 and “Yes” on part 2 of this question… deduct $
- How many homes are for sale in a 5 mile radius that would get your attention if you where a buyer(including your home of course)?
- How many homes have sold in the same 5 mile radius in the past 3 months? Let’s assume you have to be in L.A for a new job in 3 months.
- Are you ready to price your home so you will be at the front of the line and can sell in 3 months?
This is kind of hard and unemotional but this is the current market. Be prepared to be “low- balled ”on price and have a knowledgeable REALTOR® who knows the market and can help you get all you can. Don’t get offended by a low offer, it sure beats no offers. You can always try to negotiate a low offer but you can’t negotiate a nonexistent offer.
Surprisingly enough many homes that go on the market priced too high for the market based on competition and poor condition end up unsold, maybe a short sale or worse, a foreclosure.
These are just some of the things you’ll have to consider to get the job done. This market is not getting better and we’ll address that in part III.
Shoot me an email if you want to talk more about the local eastern NC residential housing market. homerray@c21zr.com
