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.
Taking the Fear Out of the Mortgage Process
Taking the Fear Out of the Mortgage Process A considerable number of potential buyers shy away from the real estate market because they’re uncertain about the buying process – particularly when it comes to qualifying for a mortgage. For many, the mortgage process can...
Buying a home can be SCARY…Until you know the FACTS
Buying a home can be SCARY…Until you know the FACTS Some Highlights: Many potential homebuyers believe they need a 20% down payment and a 780 FICO® score to qualify to buy a home. This stops many people from even trying to jump into homeownership! Here are some facts...
What credit Score Do You Need to Qualify for a Mortgage
What FICO® Score Do You Need to Qualify for a Mortgage? While a recent announcement from CNBC shares that the average national FICO® score has reached an all-time high of 706, the good news for potential buyers is that you don’t need a score that high to qualify for a...
Should You Use Your Equity to Move Up
Utah Realty News
What Is the Cost of Waiting Until Next Year to Buy?
What Is the Cost of Waiting Until Next Year to Buy? Some Highlights: The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices and interest rates were to increase over a period of time. Freddie Mac forecasts interest rates will...
Utah had the second highest house-price appreciation of all states in the second quarter year-over-year
Utah had the second highest house-price appreciation of all states in the second quarter year-over-year Utah had the second highest house-price appreciation of all states in the second quarter year-over-year, according to a new report by the Federal Housing Finance...
What Will Home Prices Look Like Over the Next Few Years
What Will Home Prices Look Like Over the Next Few Years? September 19th, 2019 Home prices will continue to rise throughout 2023. This means that now is a great time to sell! If you're thinking of listing your home, let's get together to determine your best move.
4 Reasons to Sell This Fall In Utah With Utah Realty
Utah Realty 4 Reasons to Sell This Fall Some Highlights: Buyers are active in the market and often competing with one another for available listings. Housing inventory is still under the 6-month supply found in a normal housing market. Homes are still selling...
Three Benefits of Growing Equity in Your Home
The Benefits of Growing Equity in Your Home Over the last couple of years, we’ve heard quite a bit about rising home prices. Today, expert projections still forecast continued growth, just at a slower pace. One of the often-overlooked benefits of rising home prices is...