Here are some really good thoughts, especially for those selling now.
Get real about price. Don’t obsess over what you could have gotten had you sold earlier. Consider inventory in your price range by using our Market Snapshot tool. If there are a lot of properties like yours, you might want to undercut the competition or offer an incentive to make your property look more enticing.
Vet your agent. Selling amidst a quick turning market is tough work. When you hire a Realtor®, make sure they have a good track record. Check out our Success Stories to see how we have serviced our past clients. Ideally, you want someone who knows how to weather any market.
Pimp your house — consider hiring a home stager. Staging a home is all the rage these days. As a RE/MAX agent I have access to the “Are you Fit to Sell?” program. We have several videos on the subjects of Staging, Pre-packing and Preparing Your Home for the Right Buyer. If you don’t know how to properly stage your home, it might be worth bringing in a pro who will help rearrange furniture, move extraneous items to storage, etc. Remember, regardless of the time of year, you want your curb appeal to be as high as possible.
Cash will make your home look even better. Instead of offering some sort of gimmick such as a car or cruise to the lucky buyer of your home, consider throwing in some cash. Offer to pay part of the buyer’s closing costs.
Underwater? Learn to swim. If you bought during a high market, your mortgage may be larger than what you can get for your home. If you have no choice but to move (say for a new job) you still have some options. For one, you might be able to get your employer to cover the difference. Alternatively, if the rental market is holding up, you could rent out your house while you wait for the market to increase. Finally, you can always sell for as much as you can and then make up the difference out of your savings.
Below is a quick chart showing the average sold price trend for Silver Spring MD over the last year. This chart covers all residential property types (single-family home, condo and townhome). The average sale price in June 2018 was $420,676 which is 3.8% above one year ago.
