Probably the biggest source of angst that home owners in Grand Rapids, Michigan have about selling their home is knowing IF their home has a chance for a Sale. Quiet turmoil mounts with the following irksome thoughts.
Potential Sellers silently question, “Will this Home Sell?” or “Will anyone even want to look at my home?”
I’ve been hearing many reports of homes now sporting 12 month listing contracts instead of the traditional 6. The fact is that many homes in West Michigan are not having ANY showings at all!
To improve your odds of selling, it is important to understand that having a good Pricing Strategy is crucial to your success. Last month, approximately 680 homes Closed successfully in Grand Rapids. This was 25% below the number of successful property closing during the same 30 day period in 2009. However, there is good news; the good news is that there were homes that Sold and to be successful, it’s important to focus on what successful home sellers did correctly.
Researching you area…
The days of simply guessing about the price at which to list your home, or asking your neighbor what they Sold their home for are over. The former is a dangerous strategy and the latter often provides inaccurate data. It’s best to get the facts.
This can be done by requesting a Market Analysis from a good local Realtor® or obtaining an appraisal. One of the most valuable tools available through our Grand Rapids Association of Realtors® MLS system is the ability to obtain a quick analysis of your immediate area by utilizing a proprietary mapping function which details accurate records of homes Sold within a variety of radius options and also gives us access to trends data.
Utilizing mapping and trends data can provide insights which can be easily missed when using the broad ranges which generally divide areas on on popular sites like Zillow or Trulia for property search purposes. In addition to mapping tools and trends data, pricing strategy is enhanced by understanding how property has traditionally appreciated or depreciated in a local area. This is where the experience of a good real estate agent can be invaluable.
In today’s market where less than 10% of homes listed for Sale are Closing in any given month, it’s important to improve your odds by understanding the issues and specific dynamics in your neighborhood. If you’d like to know more about creating a pricing strategy for today’s challenging marketplace and you live in the Grand Rapids, MI area, please contact us. 616-791-0511 or firstname.lastname@example.org