The real estate market in the Iowa City area is doing very well. Does that mean all homes sell quickly and for a good price? Some houses do. Some don’t. Why is that? Why do some homes sell quickly and other homes take forever or fail to sell at all? How can you as a seller avoid those pitfalls?
What to Think about Before Putting a House on the Market
1. Decide How Much You Want to Move
If you’re relocating out of state there’s no question you’re motivated. Selling your house is a job that needs to get done. For sellers thinking about upgrading or downgrading it’s a completely different story. They might need to get “x” amount for the house before moving. That in itself is something to think about. It’s an exercise in futility to list your home at the price you want without first checking to see whether the market will bear that price. Neither sellers or their agents determine what the market will bear. That’s something that needs to be established by taking a long hard look at recent sales data and how the real estate market is trending.
2. Know Your Competition
When it comes to listing a house, looking at recent home sales in the Iowa City area is the first step in the listing process. What’s equally important to recent home sales in the neighborhood is also to know what’s currently on the market and what kind of competition your house has. One thing to keep in mind is that 94% of buyers are online and the way they search for homes is by plugging in a price range. They may narrow the criteria down after that, but the first thing they do is put in a price. Pricing a house higher than other comparable homes may mean that it never gets seen by the right buyers, because they’re simply not looking at homes that are priced $20,000 more in the same neighborhood.
3. Pricing Your Home Right
To get your home sold in the Iowa City area it needs to be priced right from the start. By looking at the competition for comparable properties you’ll have a good idea where you need to set your price. Times have changed since the advent of the Internet and “testing” the market won’t work if you think your house is worth more than what the market tells you. With huge amounts of data available to buyers online the chances of them overpaying for a house are slim. And even if buyers don’t know where to find that information, they have buyer’s agents that do, so there’s really very little chance of them paying more for your house than for a similar one down the street.
Selling a home in the Iowa City area means going into it knowing exactly what to expect. Preparing for the sale of your home is your recipe for a successful real estate transaction. Setting up your expectations in line with the market is a good first step. A good real estate agent will help you through this part of the process. She’ll guide you on the best plan of action on how to price your house or condo right for the market and how to get from listing to sale in the shortest and most efficient way possible.
Are you looking for the right Realtor to help you navigate the complexities of the real estate market, all the while looking out for you and your money? Sound advice and guidance is just a phone call, text or email away. Call Denise now at 319-400-0268.