What you Need to Know When Selling in Today’s Market

Although Austin real estate has weathered the housing market storm very well over the last year, the problems experienced throughout the country’s largest housing markets are nonetheless felt in Austin.

The buyer’s market, as it stands, means that it may be more difficult to sell your Austin home. Not impossible, by any means, just more challenging.

What does this mean for you, the seller?

A buyer’s market essentially means that, as a seller, you have to get it right the first time around. There are rarely “do overs” in the real estate market; it is therefore essential that you come armed with all of the vital information before listing your home for sale.

Price and Condition are the Operative Terms

Most real estate experts will agree that the two largest factors when selling your home are price and condition, so let’s examine both of these factors and determine what you can do to use both the price and condition of your home in your favor.

Price it Right --- The First Time

Your realtor will likely determine a fair asking price for your home using a comparative market analysis and/or an appraisal. This is definitely the time to put your ego and pride aside and listen to what the research says.

What you think your home should sell for will not hold a flame compared to what the other area homes are going for or what the market is bearing. This may be a hard concept to get used to, but you must price your house right from the beginning if you expect it to sell in a reasonable amount of time.

One of the biggest mistakes to avoid is overpricing your home and assuming that you can reduce it later. This tactic often falls flat because interest in your home will wane and buyers will begin to (a) wonder why the house has been on the market for so long and (b) assume that something must be wrong with it. By playing with prices you are simply wasting precious time.

Fix it Up!

Your home will be scrutinized more closely in a buyer’s market, simply because there are so many houses to choose from at any given time.

Because of this you’ll need to get your Austin house in tip-top shape before you even think of listing it.

What does this mean? A thorough cleaning and de-cluttering, for starters. A fresh coat of paint, a well-manicured lawn and updated appliances will also prove to be invaluable when selling your home.

If you can swing it financially, it may also benefit to you to install updated carpeting, kitchen countertops and light fixtures.

Remember that a buyer’s first impression will be of your front yard, so weeding, pruning, and mowing should be on the top of your list of things to do. Planting colorful flowers and placing a wreath on the front door will also immediately give the impression of warmth and hospitality.

Today’s Austin housing market may be more challenging than it was a couple of years ago, but when you keep the price and condition of your home in the front of your mind, you can experience success in the Austin real estate market.

As specialists in Austin real estate and Central Austin real estate, VIP Realty offers in-depth market analysis and updated news to help people find the best residential and commercial property for their needs.