The Wall Street Journal recently answered questions about pricing strategies, contingencies, and staging a home to sell in today’s market. We wanted to share them with you. Do you agree?
With inventory high and demand low, what is typically the best pricing strategy for getting the highest offer while still selling the home quickly? Base the asking price based on what comparable houses nearby sold for in the past month or so. Homes priced correctly from day one tend to sell more quickly and get nearly 100% of their asking price, according to the National Association of Realtors.
When preparing a home for sale, what quick strategy would typically provide the best return on investment? Applying a neutral coat of paint in the living room! Low-cost improvements with visual payoffs typically have a higher return on investment for sellers.
How can a professional pre-listing inspection benefit a seller? By having an inspection report beforehand, the seller can set the asking price accordingly, or make necessary repairs, reducing the chance of a deal falling through later.
In what month do median home sale prices peak? There is a spike in June as families try to move and get settled before the new school year starts, according to Realtor.com
Is the seller required to disclose whether the property is believed to be haunted? Stigmatized property laws vary by state. In some places, sellers are required to disclose this if a buyer asks directly.