seller advisory

Are you looking to sell in the next 30 days? The next few months? Or even considering selling sometime this year? You may want to sit down with a professional Realtor and devise a plan. The market is changing and if you are holding out for the right time to buy or to get that extra money due to the market increases over the past year you may want to make sure that you are fully informed on what the market holds in the future of 2013.
2012 proved that low inventory and a saturation of serious buyers were bidding up homes that hit the market. However, what you need to decide is what your motivation for selling really is to allow you to make the most informed decision about when to sell, how much to list and the reality of how long your house may be on the market before you see that check in your bank account.
Doing broker price opinions since 2008 and more heavily in 2011 and 2012 I have seen the changes in price and days on market. From March-Oct 2012 the prices of homes listed were at a constant climb and the days on market were under 30 for most homes out there. However, in recent months since about mid-Oct prices have not climbed as high and asking prices are a lot higher than most recent sold comps causing homes to be on the market at a more normal rate of 90-120 days verses 1-30 days.
The increase in days on market is often followed by an eventual price decrease in order to go under contract and in some cases more than one. So if you are wanting more money for your home and you are holding out to get it, just be prepared that the higher the price you ask the longer your home will probably be for sale and may even have to be reduced more than once to sell. If you are looking to sell in 3-6 months you may consider getting started with the process soon. The amount of price reductions before October was around 2% of homes on the market having to reduce their price to sell. Now it is up around 15% of the homes having to decrease price in order to go under contract.
For more information on the market or to get a free market analysis on your home contact me today.