Sellers whose homes have lingered on the market for months–or years, in some cases–are banking on this spring to turn the tide. Foreclosures and short sales are still flooding the market, which means many sellers are still up against big inventories and some big bargains that may pull away buyers.
As such, more real estate pros say it’s time to have tough conversations with sellers about slashing their sales price of their home, particularly if it hasn’t had any traffic in recent months or years. After all, spring usually brings out more buyers, as home shoppers look to buy and move before the next school year.
Sellers need to be realistic about where the market is today, not where it used to be. Sellers should check out the competition by visiting open houses or viewing online virtual tours of similar homes for sale to see how the seller’s house compares in price and appearance.
Sellers need to be very realistic about what is keeping your home from selling, especially if you have unrealistic expectations about what your home is worth. Ultimately, there is a price at which all things will sell.
For more about setting realistic expectations about your home sale, check out some of the previous blogs.