Because of the current climate in the real estate market, the most important factor in preparing to sell an Estate property is a realistic and competitive pricing strategy. While every seller clearly wants Probate Real Estate to get as much as they can when selling Estate property, it's critical to remember that a property is only worth what a potential buyer is willing to pay. It is recommended to be aggressive early! Statistically, the longer a house is on the market, the less you'll eventually receive for it. Your property will get the most attention from buyers during its first month of being exposed to the market. It has been shown that you have the greatest likelihood of receiving the highest price during the first month. buyer is willing to pay for it. Much too often, heirs set an asking price based on what the property used to be worth or the price they would like to get rather than what a prospective buyer would be willing to pay. Mistakenly setting an asking price too high leads to a property sitting unsold on the market and, ironically, even deeper price cuts down the line!
Years of studies have proven that starting with competitive asking prices leads to HIGHER sales prices and SHORTER sales periods! It can be tempting for sellers of real estate to list a property with an unrealistically high asking price. Heirs and estate representatives often forget that simply asking for a certain amount hardly guarantees they will ever get that amount, no matter how long they wait. In today's real estate market, buyers have a sea of options and will not even look at properties priced higher than other homes in the region. As you can see in the chart below, pricing property even 10% over current market value means only 2% of potential buyers will even look at the property. Even at just 5% above market value, 70% of potential buyers will refuse even considering it!
Buying a residence at any age can be quite an ordeal, but when over the age of 50, it can be especially exciting and daunting. The excitement stems from anticipating new beginnings in a fresh environment. It can be daunting because there are so many residential options, finite resources and sometimes emotional hurdles to overcome.
Realtor John Bodien can sit down with you to discuss needs, outline options and help you determine a gameplan for selling your home and finding the very options for a new residence. John will use his experience and network of professionals to find properties, determine appropriate offers,and negotiate purchases on your behalf. When necessary, John can utilize his network of experts, such as home inspectors, movers, attorneys, and CPAs, to ensure that the purchase of your new residence, and the move, proceeds smoothly.
It is recommended to be aggressive early!
Statistically, the longer a house is on the market, the less you'll eventually receive for it. Your property will get the most attention from buyers during its first month of being exposed to the market. It has been shown that you have the greatest likelihood of receiving the highest price during the first month.