Selling a House: How Long Does It Take?

How long does it really take to sell a house? While there is not one person who can give a definite answer to this frequently asked question, there are a numbers of factors that can help you determine how long your house would sit on the market.

How Long Does It Take to Sell a House? 5 Main Factors to Consider

Price

It is a commonly accepted fact that an overpriced home takes longer to sell, and may eventually sell for less than its market value. On the other hand, a house that is priced a little lower than its market value attracts multiple offers and would sell for more than what the home is worth. In addition, houses in the lower price ranges tend to sell faster since there are more people who can afford to buy them.

Condition

Houses that are in poor condition and are in need of repairs will take a longer time to sell because home buyers will find it hard to picture themselves living there.

Location

Houses that are located in a highly desirable neighborhood will sell a lot faster.

Season

It may take longer to sell a home right before winter or the rainy season since most people who are planning to move would rather do so in decent weather. This explains why the average market time is shorter during spring and summer.

Economy

The average time a house sits on the market decreases when interest rates are low and house prices are on the rise. If housing is not plentiful, rising home prices can also make for a seller’s market even if mortgage prices are moderately high. However, in conditions wherein there is an oversupply of housing, interest rates are high and prices are steady, you can expect houses to sit on the market for an average of 12 months.

For more valuable tips on selling or buying a home, please visit my site at http://www.pamsantoro.bhhsgeorgia.com/. You can also contact me at 678-656-6627 if you have any questions about local market conditions, financing or anything that can help you with in your search for real estate. Remember, no one sells a home like a Mom!

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3 Simple yet Effective Tips to Ensure a Successful Open House

You have done all the necessary preparations to make sure that your house is in order but do you think you will attract the right people to your open house? To increase your chances of success, here are some simple yet effective tips that you may want to consider.

Tips to Increase Your Chances of Having a Successful Open House

Use the right sign.

You can dramatically increase foot traffic on the day of the open house by replacing your "for sale" sign with an "open house" sign at least 7 days before the event. These signs (popularly known as "riders") are available at your favorite home improvement store for just a few dollars.

Let your neighbors in.

You may not believe it but the people in your neighborhood can help you sell your house fast so invite them in. A lot of people would want their friends and relatives to move into the neighborhood so send invitations, fliers and/or emails to let them know about the event. You can even consider holding a neighborhood exclusive an hour before the house opens to the public.

Choose the right agent.

Ideally, your agent should use all the tools available to ensure that your property will sell fast and for top dollar. Aside from using popular real estate sites such as Realtor.com, Trulia.com, Zillow.com and multiple listing sites (MLS), your agent should blog and tweet about the upcoming event, and make use of real estate apps and printed brochures to reach the most number of people.

And remember - being present at the event and meeting prospective buyers would not do you any good so it would be best if you would get out of the way.

For more valuable tips on selling or buying a home, please visit my site at http://www.pamsantoro.bhhsgeorgia.com/. You can also contact me at 678-656-6627 if you have any questions about local market conditions, financing or anything that can help you with in your search for real estate.

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5 Simple Tips for First Time Home Sellers

The housing market has been changed forever. If you are selling a house for the first time, you need to know that today's home buyers are pickier and are using more tools to help them find the right home to suit their needs. As such, it is not enough to simply list your house for sale. You need to have a solid marketing strategy to help you sell your house fast and make a good profit out of it. Here are some tips that can help you accomplish this goal.

Know your potential buyers.

You can create an effective marketing plan if you know who would most likely buy your listing. According to the National Association of Realtors (NAR), today's home buyers would most probably belong to the millennial generation, are mobile (use their mobile phones to search for listings and open houses), and use photos to help them make their buying decision. Moreover, today's buyers enter the market when they are ready to buy.

On the other hand, buyers belonging to the Silent Generation (those born between 1925 and 1945) start the process by getting in touch with their agents and prefer to attend open houses before making a decision.

Price it right.

You will get the most number of showings during the first two to three weeks so put a realistic price tag on your house right from the start to increase your chances of selling your house fast.

Throw in some extras.

Sweeten the deal by offering some nice extras (new stainless steel kitchen appliances, flat TVs and/or washer and dryer sets, etc.) to potential home buyers. 

Make it move-ready.

You can sell your house fast and for top dollar if you make your home move-ready before listing it on the market. Keep in mind that most buyers want to start fresh and would not want another item on their to-do list after buying a new house.

Hire the right agent.

Not all real estate agents are created equal so do your homework before choosing the agent you would like to work with. To increase your chances of choosing the right agent, get a referral from someone you trust, and talk with recent and past clients. Make sure that the agent is licensed, has the right credentials, knows your area and has considerable experience in the field. You should also look at their current listings and business websites to see what types of properties they are selling and to determine how effectively they are using their online tools.

For more valuable tips on selling or buying a home, please visit my site at http://www.pamsantoro.bhhsgeorgia.com/. You can also contact me at 678-656-6627 if you have any questions about local market conditions, financing or anything that can help you with in your search for real estate.

Photo courtesy of Stuart Miles at freedigitalphotos.com