Selling Your Home This Fall?
Portland home sellers: You may have many reasons for selling your home this fall, particularly with low inventory and rising prices making the market more inviting for you to do so. On the other end, buyers too are still very much in the game, since prices haven't risen so high they exclude middle-income families in the area, and interest rates remain enticingly low.
Here are some tips for you from ZipRealty Realtor (R) Becky Gee that might help with a successful, easy sale of your home this fall season.
Know Your Market
Becky says that "fall home selling usually brings out the most motivated buyers and sellers. People who have their home listed in the fall usually have some serious motivation to sell rather than folks who might want to 'test' the market in the busy season. Buyers this time of year typically are very motivated as well and want to find something before the holidays."
This translates, hopefully, to serious buyers who make fair offers quickly in effort to close escrow just as quickly. Fewer open houses, fewer lookie-loos, more qualified and motivated buyers.
Know Your Buyers
Becky points out the fall buyers generally aren't families with kids: since school has just started, those buyers tend to settle into new homes in the summer. "Inventory levels tend to decrease in the fall as school gets started and families tend to settle in to the routine. The fall buyers and sellers in my experience tend to be couples and singles who are looking to relocate or are just now ready to move."
So as a seller, your marketing methods may change. Where and how you advertise, the language you use to list your home, and the way you stage your home may change to reflect the desires of such buyers. Your Realtor (R) can help you target any audience, including the fall audience.
Price It Right
Fall is not summer, so simply looking at summer sales figures won't tell you enough about setting your price. Your Realtor (R) can get you the most current, most local data, or "comps" to help you set your price. Together you can decide if you want to set a lower price to invite a bidding war, or if you just want to set a fair market price to reflect the "no games; let's just get this done quickly" attitude Becky Gee alluded to in the typical fall buyer.
Each Part of the Portland Metro Is Different
As with all cities in the country, each part of Portland's tri-city metro reflects different market conditions, prices, sellers and buyers. Find a real estate agent with experience in your particular location for the most relevant guidance possible.
Anna Marie Erwert writes from both the renter and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends, specializing in theSan Francisco Bay AreaandPacific Northwest. Follow Anna on Twitter: @AnnaMarieErwert