While most every home seller would ideally like to secure a good solid purchase offer as quickly as possible, in some cases, this just simply doesn’t occur – and, after about four weeks, a listing that is still sitting offer-less can be considered “stale.” A property listing that sits for too long could be the result of any number of potential factors – or even a combination of more than one. For instance, in some cases – like we saw back in 2008 – the seller could be trying to move their property in a slow or declining real estate market.
In other cases, the listing price of the home may be too high, which in turn, can scare off potential purchasers. Even if you have made numerous improvements to your property, if the list price is substantially higher than comparable homes that have recently sold in the area, most potential purchasers could be turned off.
With this in mind, in many instances, it can be much better to price the property lower and be in a position of choosing from several different offers, instead of wishing and hoping that anyone at all would be interested at a higher price point.
Oftentimes, the first step in ensuring that your listing doesn’t sit for too long and become “stale,” is knowing what other similar properties have recently sold for, and then setting your list price accordingly.
If you are considering putting your property in the Annapolis, Bowie, Crofton, and the surrounding areas on the market, then Contact Us for more information. We can provide you with a free, no obligation analysis of what your home is presently worth – allowing you to more realistically consider how much you may anticipate from its sale.
