Is Your House “Priced to Sell Immediately”?
In today’s real estate market, more houses are coming to market every day. Eager buyers are searching for their dream homes, so setting the right price for your house is one of the most important things you can do.
According to CoreLogic’s latest Home Price Index, home values have risen at over 6% a year over the past two years, but have started to slow to 3.6% over the last 12 months. By this time next year, CoreLogic predicts home values will be 5.4% higher.
With prices slowing from their previous pace, homeowners must realize that pricing their homes a little over market value to leave room for negotiation will actually dramatically decrease the number of buyers who will see their listing (see the chart below).
Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price their house so demand for the home is maximized. By doing so, the seller will not be negotiating with a buyer over the price, but will instead have multiple buyers competing with each other over the house.
The secret is making sure your house is Priced To Sell Immediately (PTSI). That way, your home will be seen by the most potential buyers. It will sell at a great price before more competition comes to the market.
Bottom Line
If you’re debating listing your house for sale, let’s get together to discuss how to price your home appropriately and maximize your exposure.
It’s a Great Time for Your House to Shine
It's a Great Time for Your House to Shine April 30, 2021 Today's housing market makes it easy to win as a seller. Let's connect if you're ready to make a move this year.
Utah Housing This Isn’t a Bubble. It’s Simply Lack of Supply
This Isn’t a Bubble. It’s Simply Lack of Supply. [INFOGRAPHIC] Some Highlights In a recent article, Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), discussed the state of today’s housing market. When addressing whether or not today’s high...
Endless Utah Real Estate Possibilities
Top 4 Reasons to Own a Home
Top 4 Reasons to Own a Home Owning a home can have an incredible impact on your quality of life. Let's connect if you're ready to make your dream of homeownership a reality.
4 Major Reasons Households in Forbearance Won’t Lose Their Homes to Foreclosure
4 Major Reasons Households in Forbearance Won’t Lose Their Homes to ForeclosureThere has been a lot of discussion as to what will happen once the 2.3 million households currently in forbearance no longer have the protection of the program. Some assume there could...
Don’t Sell on Your Own Just Because It’s a Sellers’ Market
Don’t Sell on Your Own Just Because It’s a Sellers’ MarketIn a sellers’ market, some homeowners might be tempted to try to sell their house on their own (known as For Sale By Owner, or FSBO) instead of working with a trusted real estate professional. When the...
Top 10 commercial real estate markets for 2021
NAR Study Puts Salt Lake in Top 10 Commercial Markets The National Association of Realtors® identified the top 10 commercial real estate markets for 2021. They are: Austin-Round Rock, Texas; Cape Coral-Fort Myers, Florida; Charleston-North Charleston, South...
What It Means To Be in a Sellers’ Market
What It Means To Be in a Sellers’ Market If you’ve given even a casual thought to selling your house in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate sellers’ market and the optimal time to make...
2021 Real Estate Myth Buster
2021 Real Estate Myth BusterSome HighlightsThere are a lot of misconceptions about buying or selling a home today, making it challenging to know exactly how to navigate the current real estate landscape.Here’s a little clarity when it comes to 5 common myths about the...
What Credit Score Do You Need for a Mortgage?
What Credit Score Do You Need for a Mortgage? According to data from the most recent Origination Insight Report by Ellie Mae, the average FICO® score on closed loans reached 753 in February. As lending standards have tightened recently, many are concerned over whether...