My Neighborʼs House Sold for, hmmmm, a million six!

Having been a REALTOR in my area for 23 years now, you might imagine that I have seen about every kind of market and I believe that to be true, with minor differences.  The market today reminds me of the market in the Tulsa area, where I live, in the 80’s after/during the oil crunch.  Normally, at the average rate of homes being sold, we have approximately 6-7 months of inventory.  Over the last year or year and a half we have been averaging approximately nine months of inventory. That is what determines, a buyer’s market or a seller’s market. It’s all about supply and demand, remember?  So, would you agree, that if you are selling your house, one of two things need to happen:

1.) Your house must stand out above the competition or

2.) Your house must be priced below the competition?

Price is everything! If you want to get the highest price possible for your house, you really need to be studying my previous blogs for staging!  Many people buy a house, move in, have great intentions but never follow through. Follow through with? Well, it is a weekly event that I am contacted to advise homeowners on pricing their listing when they have owned the house for years and it has deferred maintenance. Many people schedule with me to see what they need to do to get their house ready to sell, since I became an accredited staging professional. Houses that have been lived in with deferred maintenance obviously bring less money. In appraisal, lack of normal upkeep is considered physical depreciation.

I say all of that to say this: regularly evaluate your home and determine if it has anything that needs attention. Outdated wallpaper? Cruddy carpet? Gold/brass light fixtures? Gold faucets? How are your countertops? Come on, you have probably seen plenty of tv shows -Extreme Home Makeover, HGTV, you get the idea! Do the updates regularly so when you are ready to move, you aren’t looking at all that expense plus the expense of selling. If you have taken care of your own american dream, you will need very little to make it happen.  If you haven’t and can’t do it to sell, don’t expect to get top dollar!  That’s just the plain facts.  I’m just sayin!


The URI to TrackBack this entry is:

RSS feed for comments on this post.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: