Escondido Real Estate

Home Selling Strategies For Escondido Homes

What's your competition? Who are the buyers, and why are they shopping? If you are buying or selling your Escondido Homes, it is best to take an organized and well informed approach. Selling your Escondido Homes, or buying the perfect condo to suit your lifestyle, can be a smooth process for those who are willing to do their homework. 

Do you live in an area like San Diego County, which is what I call "a growing market with people coming in"? Or are you living in an area that doesn't attract a lot of new residents, where many shoppers don't have to buy but are looking to pick up a bargain?

Are you competing against a flood of new houses from builders eager to sell, or are you selling a newer home in an area where most of the housing stock is older?

• Ask the professionals.

Don't ignore the elephant in the living room. When you interview real-estate agents, ask about the market conditions for your area and price range.

Specifically, ask about the "absorption rate,". What that means: In the current conditions with the current inventory, how long would it take the market to absorb, or sell, all the houses on the market?

If the supply is much larger than the demand, ask potential agents how they would "price to offset that inventory," he says.

• Know what your house is worth.

Get an appraisal from a certified professional appraiser. Look at your comparables. Taken together, that information will give you a pretty good idea of what your home is currently worth.

• Consider strategic pricing.

Here's how it works: If prices in your area are dropping 1% each month, and you want to sell within the next three months, you take 3% off your price right off the bat, says Phipps. So if you were going to put your home on the market for $400,000, you set the price at roughly $388,000.

The upside: You'll have the competitive edge over the guy who's dropping his price every month, without the air of desperation. Plus, in a market where prices are falling, you'll make more money if you sell quickly.

The downside: Predicting the market is a tough call, even for the pros. And it's really difficult to raise the price if your market starts to rebound.

 

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