Is Your Home In the Market or Out of the Market?


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0:09: This is Doug Buenz with the 680 Home Video Channel. Today we’re going to talk about “Is Your Home In the Market or Out of the Market?” and how will you know.

00:18: So, what is in the market mean? In the market means it’s priced properly, you’re getting aggressive showings and offers. Out of the market, meaning we’re hardly getting anybody looking at it and I’m depressed because it doesn’t look like my property is going to sell.

00:32: Here’s what it looks like if your property is severely overpriced. If your property is severely overpriced, then you are going to get little or no activity in terms of showings. You might go days or weeks without a buyer coming to look at your property. This is a symptom that your price is just too high.

Buyers are looking at your property online and they’re viewing it but they’re choosing not to come out and see it. Buyers vote with their feet. If they’re compelled to come out and see your property, they will. Conversely, if they’re not coming to see your property it’s because they’re not being compelled to come out and see it. You’re not offering enough value in the market place that your current price to prompt them to come visit the property.

01:12: Another common scenario is you are getting showings, maybe one or two a week, but no offers. This is another indication that people are coming to view your property – real buyers and we’re assuming they’re really qualified buyers – they’re looking at your home and they’re choosing not to buy it. This is another indication that your value in the market place is just not strong enough to compel the buyers to make an offer.

01:36: So these are the factors. If your property is well priced in a consistent value in the market place, you’re going to get strong activity, strong interest, and ultimately you will get offers. If you’re not, you need to look at and reposition your property in the market place to make it that more attractive value.

01:52: One last caveat here, the market is a living, breathing, dynamic situation and it changes. What your home is worth on a Tuesday at 2 o’clock might be different than what your home is worth the following Thursday at 9 AM. The stock market can go up or down 200, 300, 500 points. There could be other macro economic news that impacts the buyer’s perception of value. So, make sure you’re consistently reviewing your position in the market place so that you are priced to sell.

This is Doug Buenz of 680 Home Video Channel.