Hot, Hot Hot!
By Suzanne Gwilliam, Realtor
This market is on fire!! Although there is much more inventory than a month ago, instead of the market being flooded with new listings, we are actually seeing an increase in home sales and buyer’s needs finally being met! Yippee, Happy Dance!!!
Days on the Market remains relatively low with an average of 2-7 showings before a home is sold. Of course price and location have a lot to do with this. Across the board, most homes get under contract within a month, without having major price deductions.
Open Houses are jam packed with people because many agents are listing the property mid-week, but only allowing showings to start at the Open House! So there is a flood of activity at the Open House and usually multiple offers. If the house is properly staged and the pictures are good online, then it’s a slam dunk! I know I’ve said this before and I really hate to beat the dead horse, but online pictures are the most critical marketing piece of your online strategy!!
If you are shopping for an agent, it is IMPERATIVE that you look at their past listings online and see how good their pictures were. It boggles my mind to see sideways pictures or rooms with the lights turned off! Unfortunately, it still happens, so do your due diligence and see what their past listings looked like. In the long run, it could mean thousands of dollars for you!!!
Staging is also highly recommended as well! I LOVE Julie Pelly with Creative Staging, because she sees your house through the eyes of the buyer. Julie will give you great suggestions from paint colors and props to furniture placement. Her suggestions will attract the most buyers to your property, while bringing you the biggest bang for your buck! She really is the BEST!!! LOVE YOU, JULIE!!
Blah, blah, blah, HGTV… It’s real folks and that is what buyers want, so just bite the bullet and get ‘er done!
If your pictures are great, you’ve done the Staging and you still don’t have an offer, then sorry to break the news, but it’s probably OVERPRICED! Run the comps again and make sure your house is competitively priced and looks better than the competition. And believe me, there is more competition coming on the market every day, so don’t let those Days-On-The-Market go unchecked! Make adjustments where you need to and don’t underestimate the power of neutral paint colors!!!
The Rental Market is even more fierce and since there isn’t an appraisal done on the monthly payment, prices go by good old Supply and Demand! The highest prices are paid on those properties listed in the Multiple Listing because they have the most views and flexible showing times. Trying to save a few bucks by just posting it on Zillow or Trulia could really bite you in the butt, in the long run. Not to mention the inconvenience of having to drive out and meet the prospective tenants at every showing. Who has time for that? Just hire a Realtor and let the showings fly!
With Rentals, online pictures are imperative and having open availability for showings is crucial. If there is a tenant living in the property, it would be in your best interest to start showings after they move out. Tenants don’t have a vested interest in getting your property rented out, so they are much less likely to be flexible with allowing showings and having the place in tip top shape. I’ve seen townhomes with beds in the living room, food left out on the counters and just overall disgust during a showing. Please, just wait until they move out, then paint, spackle and clean the floors. Your investment will be rented out in no time and you’ll have the luxury of seeing multiple applications. Then you can be selective when choosing your next tenant and ensure that the rent is paid on time.
If you take away anything from this article, let it be that PICTURES are the most important marketing weapon in your arsenal and STAGING is icing on the cake! Good luck and Happy Listing!!
Suzanne can be reached at:
Bus: 215-968-7400 • Cell: 267-243-8487