4 Market Misconceptions That People Often Believe
I’m revealing the truth behind these widely-held misconceptions about our market.
Want to Buy a Home? Search All Homes
We have a hot seller’s market, but there are four common misconceptions about it that I want to clear up:
1. You need to know where you’re going before you can sell. The problem with that is that home sellers are not accepting contingencies in today’s market. They’d rather sell to a buyer without any contingencies, of which there are many. To get around this, you want to negotiate favorable terms when selling your current home. You may be able to negotiate a leaseback agreement or an extended closing to give you time to find and close on your new home.
2. Your home’s condition doesn’t matter. You may be able to get away with a little more today, but you will get more money for a home in better condition. Go through your home with a trusted professional and see where it makes sense to spend a few bucks to get a few bucks more back.
3. You can price above the market. Appraisal issues are going to get in the way. Pricing above the market may result in buyers staying away. If you do price above the market, your home’s just going to sit there.
"You will get more money for a home in better condition."
4. Hiring a Realtor isn’t necessary. It’s tempting to try and save money, but are you ready to handle 50 offers in one weekend? How are you going to know which one is best based on all the complex legal language? How will you solve the issues that come up? It's wise to use a real estate professional for both convenience and to protect yourself.
If you have any questions about what our market really is like or anything else related to real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.