If a home doesn’t sell in Shalimar, does anyone care?

 

I read a study that stated, the smarter you are, the better you are at filtering out the things you don't believe when you are presented with contrary information. I get that.

 

We all hear what we want to hear. We look at Zillow and see a value that makes us believe that we can reap great rewards on our own home, even when comparable homes are selling for less in the same neighborhood. Please listen to this: the three significant factors in selling your home are Location, Condition, and Price.  

 

Most people won't give you a dime for a nickel. (Well, maybe your grandmother will). Some real estate agents will allow you to believe that the price you have decided is the correct value of your home. I had a homeowner ask me to do a valuation on his house and as soon as I sent him the estimate he ghosted me. He hired another big-box agent who let him set the price at $50,000 more than I had suggested. That home has still not sold and is at 184 days on the market as of the day I’m writing this. The listing expired with no sale.

 

Do I get all the listings from the appointments I go on? No, nobody does. Do I offer the best value to sell your home, yes? What does that mean? The market sets the value of your home. What is the market? It is: homes that have recently sold, are under contract, and actively listed for sale.  

 

The sold homes help you determine what the market will bear on pricing. You then decide how fast homes are going under contract (demand). Then you look at the supply. If you have three sales per month and 18 homes for sale, you have a six month supply of homes. That is usually called a balanced market. Under six months is considered a seller's market. Over six months is a buyer's market. The exception to this is, if a house is so overpriced it will languish on the market, and new homes come on the market that are sold in it's place.

 

 

The housing market is a Honey Badger- “It doesn’t care.”