Without a doubt the housing market has slowed, especially in California. Inventory is up as well as interest rates which is making properties sit longer than even a few months ago. With the holidays on the way historically it’s only going to get slower. So if you need to sell your house quickly or wanted to get in at the top prices you might’ve missed the window. Though you may not be able to get the same price you could’ve 6 months ago, you still can get a high price and sell relatively quickly. Here are some tips to give you the best chance to sell high and get it sold quick!
Price
Obviously price matters but you don’t want to be too high that it sits on the market for too long but not too low that you miss out on some equity. The best way is to market it close to put the price right in between two buying zones. Example: $399,995 will get people looking in the 300’s as well as the 400’s. Always try to attract as many buyers to the property as you can. Also, try to stick out with your price if you can. Try to find a less crowded price point. For example, instead of $340,000 use $337,000 to stick out. You can also look where most houses are priced and go right above or below those prices to stick out.
Get People To The Property
Sometimes people don’t know they want a house until they are actually there. The feeling, smell, colors, and overall neighborhood could spark them to put in an offer. But they will never know about it unless they physically get to the property. One way to do that is price it aggressively on the MLS or FSBO sites, below market and try to get a bidding war. Or do limited showings and create a “feeding frenzy”. People want to buy things when other people want something, it’s human nature. Pick a small window and get as many people at the property as you can.
Make Them Feel At Home
A lot of buyers don’t have a good enough imagination to see past a lot of negative features in a home. So if the property is vacant you need to stage the home. Yes it costs money but it is well worth it. You want a buyer to feel like they can live there. Seeing where a bed or tv will go let’s them visualize themselves there. Make the house smell good with a nice candle or bake some cookies will help as well.
Cash Offer
If your house still isn’t selling after those tips or you just don’t want the hassle. Call a cash buyer or an investor who buys property “as is” meaning they don’t have you fix anything and can close quickly. Most of the cash buyers pay for all the closing costs and don’t charge you any commissions. Some are better than others and always look for reviews to see who’s reputable. A lot of cash investors can get you a higher price than you think. If you take away the closing costs, commissions, hold time, and repairs sometimes you will net more. And they can buy your house fast and close quickly or whenever you want.
We don’t know what the real estate market is going to bring in the future. We probably won’t see the appreciation we’ve seen in the last 9 years. So if you have to sell use these tips to get you through.