Don’t Let Your Home Be a “Stale” Home

Posted by on Mar 8, 2016 in Uncategorized | Comments Off on Don’t Let Your Home Be a “Stale” Home

‘Days on Market’

One of the most important questions that a buyer is going to use to their advantage, is how long your home has been on the market; this is their first key into knowing if, and how much they can negotiate with you. They are trying to figure out how desperate you are to sell the house, and how far they’ll be able to get you to lower the price. If the home has been on the market for only a short time, they’ll know to not mess with you, until the price drops. However, by then, they may have found something else which is why it is important not to overprice your home.

Related article: Buy My House Tips

The ‘days on market’ is a real estate term that refers to, obviously, how long a home has been on the market. The reason that you want to keep your home listed for as short amount of time as possible is that the longer it stays, the more lowball offers you can expect to pour in, and the solid, reasonable offers to fade. Not only that, but depending on how long your home has been on the market, buyers may not want to even look t it.  There’s no way around it. This works to the buyers advantage, as there is no ‘estimate’ for how long its been listed, only facts.

Too many sellers try to use their home as a ‘test’ to see how much they can get for it, so they list it at the highest price they can. This is a really bad idea.  The data on this is not positive; homes that sit longer, and grow ‘stale,’ have a lower chance of selling, and more often than not, they sell at a lower price. You need an honest real estate agent who will tell you the truth about how much your home is worth, but more importantly, you’ve got to listen to them.

Additional reading: We Buy Houses