Zillow has revealed that 1 in 4 sellers are reducing their asking prices
...and it's not because of the election …It’s not because of the assassination attempt a few weeks ago… …It’s nothing new with interest rates (they’ve actually gone down in the last few weeks)… 1 in 4 home sellers have reduced their price based on… …It being a typical summer market. Sorry…I know we have a natural (or conditioned) attraction to big news and big stories. If you want perspective from someone who’s been in the market every day, 365 days a year for the last 8 years then this is what I’m going to tell you… If you want to know what to do if you’re thinking about buying a house right now…I’ll tell you that too. If you want to know what to do if you’re thinking about selling a house right now…I’ll tell you that too. The market starts to slow down every year in July… People still want to move…they’re just not looking as actively due to summer vacations, graduation parties, work outings, baseball tournaments, and a number of other distractions. If you want to know what happens next…the number of price reductions is going to continue to go up through August and September. People will still be buying, you’ll see the number of days on the market going up. Keep in mind 3 days on the market is not considered “normal” in the real estate business. 30-45 is still considered good in a sellers market. Some houses will continue to sell in the first weekend, if they have what buyers want… By October most of the houses listed in July-September will be sold. Typically we see a spike in activity in October from people who still want/need to buy and sell before the holidays or before the end of the year. If you’re looking to buy a house… this can actually be a great time to do it. More time on the market is a good thing for you and if you can find the right house you’ll have a better chance getting the terms you need opposed to buying in the spring. If you’re looking to sell a house… you don’t have to wait until spring. Buyers are still out there and demand is still high…You just have to be more aware of what buyers are looking for (checkout some of my other recent videos)… …and you have to price your home according to the current market… …this could mean listing for 1-2% less than the highest priced sale in the neighborhood that was on the market mid-April and closed in May or June. That 1-2% usually equals less than what it will cost you to keep the house another 6-8 months just to sell next Spring… Especially if you also need to buy a house also… Of course, there’s a lot of other factors specific to you and your needs that will dictate what’s a fair price and when is the right time for you… …If you have questions and want to hear from someone who has been in the business for 8 years and watched the seasonal sales cycles, election cycles, and multiple economic cycles then reach out on our website.
Pittsburgh Homeowners: Get the Most Money When Selling Your House
Here's the top 4 improvements/updates I recommended making to maximize the value of your home before selling in this latest video on our Youtube channel- Moving To Pittsburgh. 1. Landscaping - first impressions are important when buyer's are looking at your house. 2. Paint - Most sellers assume the buyers will want to paint themselves so they can pick their own colors. Most buyer's today want everything done for them. 3. Flooring - Carpet cleaning generally isn't enough. Buyers want LVP or refinished hardwoods where ever possible. 4. Repair any broken items and complete any other unfinished projects. ... I generally advise against expensive kitchen and bathroom remodels unless everything listed above has already been done. If this is too much I have two pieces of good news: 1. You don't HAVE to do any of these - There's a buyer for every house regardless of the condition. Just let me know and I can get you estimates for your house's AS-IS value and your ARV (after renovation value) to compare your options. 2. We have a contracting company we partner with who can do all of the work above, and more if needed. They will manage the project at no up-front cost to you and accept payment at closing after the house is sold. We wanted to publish this for you because a few people have told me this was the main thing they were struggling to figure out before hiring us...
Your Offers Are Hiding
I know websites like Zillow will tell you how many people have “viewed” and “saved” your listing. A lot of people I talk to think those numbers look pretty good and yet they wonder where the traffic and the offers are hiding. Those numbers measure your exposure and like I’ve said before there’s more important things than exposure. Your listing may be a perfect example of why Connection is so important. There’s 3 reasons why your exposure numbers aren’t leading to a Connection between you and the buyers. Buyers like the product and yet they’re unsure, unaware, or lack confidence in taking the next steps. You would think all of this knowledge would be self explanatory and yet it’s not to everyone, and it may not be common knowledge for your ideal buyer. Buyers are clicking links, and buttons on your listings website and it’s connecting them to a real estate agent who might be taking them to see other homes. This is actually how Zillow makes their money. Their help in listing your home for free turns out not to be free after all. Those “buyers” may be window shoppers and not buying at all. People generally have alot of questions and concerns. Especially when it comes to making such a large purchase as buying a home. Even though they love it, they’re not sure it’s the best choice for them because they aren’t sure about your product in comparison to others. You need them to connect with you or someone else who can answer their personal questions, reassure them, and affirm their decision about not only YOUR product, but THEIR purchase in general. Not only that, when it comes to buying a house there’s no checkout button, so the purchasing process itself takes a significant amount of knowledge and trust to navigate to completion. So what are the solutions? You need the ability to reach out to them and not wait around for them to reach you. (This could pertain to the initial conversation or it could be a follow up conversation as you take the buyer through each step of the process.) You need to know the steps yourself and you need to know what to say to get them to take the next step. (Don’t assume your ideal buyer is already on step 3 or 4 before they come in.) You need to be able to qualify them to make sure the people you’re spending time connecting with are real buyers. (Hint: asking for a preapproval isn’t the best way to do this either) There are a lot of ways to achieve those solutions. If you're interested in selling your home and you suspect that you might be running in to one of the problems we've talked about in this and other posts on our blog, our team would be happy to talk more with you and create a strategy that will work to get your home sold with the best possible outcome. Reach out to BryanR@MyHomeReality.com
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