Q & A – What if we don’t get any offers?

 

 

 

 

 

 

My clients are full of questions.  People I meet socially are full of real estate questions.  Everybody has a question about real estate.  Here's a good one with a simple answer.

 

 

Q:  Sometimes you have a fabulous house, priced where the market statistics tell you it should be, and there is a steady trickle of showings, but no offers.  If the neighborhood is good (location) and there's nothing left for the buyers to repair and the house is clean and show-ready, (conditon) is it the price? 

 

A:  There are basically three factors in the equation.  When two out of three can't or don't need to be changed, you have to look at the third. 

 

In this case it must be the price.  There is a simple 21 day formula for determining if a price reduction is in order.

 

1.  If there are showings and perhaps an offer that didn't come together, a 3% price reduction may be in order.

2.  If there are showings, but no offers, a 4% price reduction may be needed.

3.  Finally, if the property is not getting any showings or offers, a 5% reduction may put you in a position to get things moving, and offers coming in.

 

Obviously, depending on the price range, these percentages may differ, but this is a good rule of thumb.  Watch the number of showings, and after 2-3 weeks, you'll have your answer.

 

Contact me any time with your real estate questions!

 

 

Portland Oregon Real Estate Information,
House Ideas,
Portland Oregon Highlights.
Caryperkins.com

Posted on January 19, 2013 at 8:14 pm
Cary Perkins | Posted in Current Portland Real Estate Market Information, Portland Oregon Real Estate, Portland Oregon Realtor, Selling Your home | Tagged , , ,

Time to get moving.

 

 

 

 

 

 

Time to get moving. 

 

Click link for more info!

 

 

Portland Oregon Real Estate Information,
House Ideas,
Portland Oregon Highlights.
Caryperkins.com
 
 
 
 
 
 

Posted on January 12, 2013 at 10:17 pm
Cary Perkins | Posted in Current Portland Real Estate Market Information, Moving, Portland Oregon Real Estate, Portland Real Estate Statistics, Selling Your home | Tagged , ,

Selling your Home during the Holidays?

Selling During The Holidays?

During the holidays, many sellers withdraw their properties from the market and wait until January to re-list. Most often, it’s because of family visits and holiday celebrations. Let's face it – who wants to keep their house clean enough for buyers when you're in the midst of baking, wrapping presents and partying?  However in today’s market, having your home for sale during the winter holidays can give you a real competitive edge.

Serious Buyers. Only really serious buyers are looking for homes during the holidays.  Would you rather be attending holiday events and getting your shopping done, or driving around in the rain and cold looking at homes?  Buyers' dedication and commitment to the home buying process during this time makes them much more serious buyers than the summer tire-kickers. Most buyers start their search on the internet and will spend their holiday break surfing the web looking for homes. With more free time, buyers and their families will spend more time dreaming about what they will do in 2013. Why not have your home prominently featured on the Internet where they can discover it?

Less competition. With fewer listings, there is less competition for those serious buyers.  You'll lose this edge in January as more sellers trickle back into the market, slowly increasing to normal levels by Spring.

Moving up before prices increase.   We've hit the bottom of the housing crisis and are finally rebounding.   Given a 3% annual increase in the market, higher in some areas of Portland, a $250,000 house will gain $7,500 in value, while a $500,000 house will gain $15,000 in value.  Your leverage in buying up to the next level house is much higher in actual dollars.  Additionally, the cost of borrowing money has never been less – your move-up can be locked in at today's low interest rates.

Holiday decorations.  Give me a call to have my professional stager help you with both your holiday decorations and staging your home for sale at the same time. Buyers are emotional during the holidays. You can capitalize on their emotions by using high quality holiday decorations to showcase what your home has to offer, as well as let buyers experience the dream of living in your home.

Higher appraisal values.  Recent strong sales support the rising appraisal values of homes. With the market increase in sales of non-distressed homes, now is the best time to sell. The percentage of bank-owned and foreclosure homes has shrunk, giving appraisers more information on the sale of regular homes as they begin to increase in value for the first time in over five years.

 

 


Posted on October 30, 2012 at 5:05 pm
Cary Perkins | Posted in Current Portland Real Estate Market Information, Selling Your home, Selling your home during the holidays | Tagged , , , ,