by: Lake Gaston Real Estate Specialist Barney Watson (Broker/Realtor with Re/Max On The Lake)
If you are thinking about
selling your Lake Gaston property this year, then now is the time to begin. I
recommend interviewing several full-time local REALTORS® to
start. A good working relationship, one
with an open line of communication, between the REALTOR® and
client is important. All Lake Gaston agents
have access to the current market statistics, which your agent should discuss
with you. Ask for a written copy of these statistics. It should reflect what the agent told you.
With your own copy, you can review the data at your leisure. Ask for comparable
properties that have sold in the last 6 to 8 months. Sales before this period
do not reflect the current market.
Always remember the market changes throughout the year. You may need to adjust
your asking price during the listing period. Once you receive an offer on your property,
the lender will order an appraisal for the new buyer. The offer will fall
through if the property does not appraise for the contract price. Your property
will go back on the market if this happens. Remember buyers do not look at
overpriced properties and experienced REALTORS® are
reluctant to show overpriced listings.
There is no doubt the real
estate market is on the road to recovery.
Nevertheless, the improvement in the housing market has not treated all
home sellers equally. Some well-priced
properties in good condition are going under contract within weeks while others
are taking longer. Please keep in mind
the housing market is coming out of the worst recession since the Great
Depression. This is never far from most buyers’
minds. However, plenty agree this is a
great time to buy correctly priced real estate.
Sellers often comment, “We
can always come down on our price after we receive an offer.” I have heard this a thousand times. Buyers
will not waste their time making an offer on an overpriced property. Overpriced property sends a signal to the
buyer the seller is unrealistic. Most
experienced agents will not waste their client’s time to look at overpriced
listings.
Remember, the market decides
the selling price of a property – neither the seller nor the REALTOR®. Again,
make sure you and your agent discuss current written market statistics before deciding
on a listing price.
Lack of showings will point
to an overpriced property. Most buyers will view showings several times before
making an offer. Let your real estate
agent know you want feedback from all showings, the good and the not so
good. This information is valuable and
may help you in adjusting the asking price.
In January we closed 16
properties for a total of $5,061,650 as compared to 11 properties in January
2012 totaling $3,127,000. We are seeing
an increase in potential buyer activity.
If you are thinking of
selling your Lake Gaston property, now is a good time to get started with the
process of choosing the right REALTOR®.
