Why Some Homes Sell – The REAL reasonsAugust 3, 2009
I recently read an article on REALTOR.com which listed six reasons a home sells and to be honest, they were all good reasons. But I don’t think they are the MAIN reason homes sell in this market.
The article contained “ideas” about helping a home to sell such as freshly painted front door, fix all leaks, etc. Basically, the same old and tired news. But honestly, in this market there are TWO reasons a home sells.
1. IT IS PRICED right. No amount of fix up is going to get you top dollar in this real estate market. Recently I sold a house that was absolutely stunning and totally renovated. It shined. But when the appraiser got involved it turned into little more than an “outhouse” in his narrow vision of value. The appraiser didn’t care about the renovations and the pristine condition. He cared about the foreclosure down the street which now jeopardized the value of this home. It was a fight but we got it sold. So I would say, PRICE IT FOR THE MARKET and be prepared to fight for your value.
2. LUCK – Short and sweet. Plain and simple – you need a little bit of luck on your side. In todays market all the rules and all the reasons are thrown out the window and are replaced by being in the right place at the right time. You are lucky. You have a willing seller (realistically priced – see #1) and a willing and READY buyer and the great good fortune to have a contract. Take the deal and run. You have, in essence, won the real estate lottery.
There you have it – a Reader’s Digest version of the reasons a home sells. GOOD LUCK.