Selling Your Home In Today’s Market: Price and Condition Rule

Home Selling Tip

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When preparing to sell a home few things, if any, can be more elusive than settling on the right price for the initial listing. Once working with an agent no other topic is more contentious. Historically it has never paid off to chase the market, and that is so true today as well. Time and again in our Northern Virginia real estate market, as well as DC and Maryland, homes priced at actual market value right out of the block are not only selling quickly but those home owners are consistently getting the best price in the end over those who price high from the start.

It is not uncommon for homes priced at market value to not only sell quickly, but to draw multiple offers, which heavy favors the seller when it comes to the contract itself and the negotiating power you now hold. Not only are you likely, then, to get full price for your home, but if you do get multiple bids there is a good chance you will actually receive offers that exceed your list price. Notice I am not suggesting a discounted list price, I am merely encouraging the pricing of a property at what the current market shows it will bear. Make sure you have a Realtor who is willing to tell you what you don’t want to hear when you have this conversation.

The other, very important side of this discussion is property condition. When combined with the right price, a home that is well updated, shows in a move-in ready way (ie, clean, neutral finishes, well staged), and is made readily available for showings (NOT appointment only 24hr notice stuff), it has a very good chance of selling within the first 30 days, and sometimes before the first Open House.

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