Okay, there are four factors, and THE most important is:
ATTITUDE. Are you ready for the house to sell? Are you excited about a new venture? Are your boxes packed? Have you mentally and physically started moving out? The way you feel about selling your house will be felt by prospective buyers and will determine your outcome. Be excited to move out, so the new buyer can be excited about moving in.
As we head into the autumn months the next three items are just as imperative as your attitude.
PRICE. Yes, your house needs to be priced according to the following (the neighborhood you live it will dictate the order):
- Market Value
- The Absorbtion Rate of your neighborhood NOT the United States or Denver
POSITION. The inventory has been rising for the past 3 months. Are you really the best looking and feeling house not only in your neighborhood but in your price range?
- I’m not asking for your opinion here, I am asking if a BUYER would think this
- Good news – if you aren’t the best looking this is easily fixable
- Hire an expert to make you the best looking house BEFORE you put it on the market. Save yourself the brain damage of wondering what a buyer wants, we know what they want. Felicia Moon is an expert I trust for staging and remodeling suggestions.
SALABILITY. First question a REALTOR® will try to answer is will a bank lend on your property and if so, what kind of loan will a buyer need to obtain to purchase this property. A REALTOR® is looking at this to determine the pool of buyers they are going to market to.
- Unusual properties, that don’t quite fit into the banks “box”. The property will have hurdles to overcome and it is better to know those hurdles before you put the house on the market then for it to fall out of contract and potentially not close after everyone is emotionally invested
- Condominiums and lofts were hit pretty hard by the new FHA guidelines this past winter, most of the details have been worked out but the lingering effects of the stigma of units not selling isn’t helping buyer confidences. So you just need to be clear if your condo is on the FHA approved list.
- Know who your market is, we have seen cash this past year, which means banks opinions don’t matter, but cash buyers still want the house to appraise for what they are paying.
These factors will determine the time your house is on the market. With threats of more inventory coming from the banks, don’t let your “hopes” under mind your reality. If you want reality, please contact me, I will be glad to help.
P.S. Wonder what homes in your neighborhood are selling for? Check out the Search for Homes button and start looking.
If you know someone who is looking to buy or sell a home in Denver, please share my information and call me and let me know how I can help.