Pick me! No, pick me. Please pick me…….
Sound familiar- it’s like waiting to hear if your favorite college team is among the final 64 for March Madness….or a seller hoping the next buyer writes a contract on their property.
Either way- a lot of anxiety, mixed emotions. Elation for some and disappointment for others.
In Cincinnati, Xavier fans rejoice while fans of UC wait for another year. It seems that way for sellers too. According to the Multiple Listing Service of Greater Cincinnati there are 11,843 single family homes and condos for sale in Bulter, Clermont, Hamilton and Warren counties.
Since March 1st, 626 properties have gone pending (sold but not closed). So the buyers are out there- carefully selecting the best property.
March Madness is not just for basketball. If you live in West Chester, Mason or greater Cincinnati and your property has been on the market for several months-now is the time to get competitive.
The great Cincinnati spring real estate market is blooming now!
Pricing, competition, recent solds and flexibility all come in to play.
Are you priced competitively? Dumb question? Not really. Buyers are comparison shopping-have you taken an objective look inside and outside of your competition? Probably not. Take some time this week and scout the competition objectively through the eyes of a buyer.
Competition- you are priced close to other homes in neighborhood or area? Great- except they haven’t sold either. If any homes in the area are selling- you need to sit your realtor (or yourself if you are a FSBO) and review a detailed market analysis. At least look at Zillow (because buyers are looking at Zillow) and understand how to beat the competition.
Recent solds- appraisers are using data for last 90 days. In some cases, where very few properties have sold, they may go back another 30 days. If you base your list price on older (more than 4 months) sold data- you need to adjust your thinking and pricing. Take the list of all the “improvements” and throw it the trash. Buyers really don’t care what you improvements you made-unless they meet a specific need. Price it for the next buyer in the market.
Flexibility- need I say more. Occupancy, closing dates, points and closing costs-all should be negotiable. I’m not advocating giving everything away- but flexing on any or all the above items can move a “potential” buyer to sold.
If you want your property to be a March Madness winner- you need to be proactive about getting it sold.
Need more help to get it sold! Call or email.
