Every day since January 1 this year approximately 135 residential properties have been for sale through the Americus area Multiple Listing Service (MLS). By "the Americus area" I mean primarily Americus, Sumter County, Ellaville and Schley County, Georgia.
We are almost at the end of the first quarter of the year, and to date (March 27) 40 residential properties have been sold through the members of the MLS. That's 40 properties sold in 87 days, or roughly one property out of 135 sold every two days.
If everything about the homes for sale were equal -- and, of course, we know that's not the case -- on any given day your house for sale now would be competing with approximately 135 others for a buyer. What are the chances you would be the lucky seller that day, or the next day, since just one house will be sold in two days? Not all that great.
When you factor in all the variables -- home style, size, location, condition, price range, buyer's financial ability, and others -- your chances of having the right buyer step across your threshold is about the same as meeting that person in a bazaar in Timbuktu.
You need to do everything possible to incrase the odds in your favor. Let your REALTOR help you.
Some people say we are in a "buyers' market." But where are the buyers? Those who can qualify for a mortgage loan can take their time, look to their heart's content, and cherry pick among the homes on the market. Meanwhile, sellers are praying, "Pick me. Pick me."
If you are a seller today, you have a clear choice: Price your property to sell, or price it to sit there. All REALTORS know the biggest mistake sellers make is overpricing. It's a natural tendency for you to think your house is "worth more" than a buyer thinks it's worth. "Worth" is a subjective value, ruled more by emotion than logic or reason.
Your REALTOR knows property values from an objective point of view. Carefully consider your REALTOR'S advice about pricing your property. There's nothing wrong with getting a second opinon, but don't always pick the one who agrees with you on the asking price, or the one who agrees to start out high and come down later if you don't get an acceptable offer. You will lose valuable marketing time as buyers pass up your house for a comparable one that is more realistically priced.
All REALTORS, including me, will do a Comparative Marketing Analysis for your property to show you what comparable ones have sold for recently. That will give you a ball-park figure that you might reasonably expect to get for your property. Set your price accordingly, with a little wiggle room, and you just might get "lucky."
