We are currently in the most wild Sellers market I've seen in the 2 decades I've been selling homes. I watch the prices of homes coming on the market and closing escrow....and I shake my head. Literally say WOW so many times during the day.
I saw someone yesterday on Instagram with a picture of herself holding a sign that said "Sold Over List Price". I almost laughed out loud.
EVERYTHING is selling over list price in my community. Well, almost everything....
I took this picture of my computer screen this morning. Closed sales in my market area in the last 24 hours. Notice all those blue up arrows? Those are the ones that the price increased at closing to higher than the original list price.
But, see? Even in a Sellers market, there are 3 that have red down arrows. In 3 different price ranges too. Those closed for less than original list price.
Now, you're thinking well that one had this problem, or that one backed a busy street, or the other one had a home of choice contingency.....blah, blah, blah.
Price the house right from the start and you won't see red down arrows next to your home....lord have mercy, particularly in a Sellers market!
Be wary of the agent you hire to sell your home. Don't list with one just because they say your house is worth 50k more than all the rest. They Are Wrong. The sales data does not lie.
Price your home where the sales data says it should be. Then, and only then, the buyers will come in droves and you'll end up with a lovely blue up arrow next to your home in the MLS when it closes escrow.
Trust me, even though pouring through multiple offers is a helluva lot of work? It's appropriate to price right, get those offers, and pick the cream of the crop from one of them vs. taking the only one that wrote on your over-priced home.
Food for thought. Feel free to ask my anything!
~ Lauren@KeepYourWitz.com ~ www.KeepYourWitz.com ~ (661) 313-5470
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