What does it say if my home doesn’t sell quickly?

What does it say if my home doesn’t sell quickly?

One out of every seven homes in the Portland area is selling in less than three days. What does it say if your home doesn’t sell in less than three days?

It says you listed with the wrong Realtor.  Not every home can sell that fast, but if your house isn’t selling in the first couple of weeks, it’s probably one of three things; you got the wrong price, the wrong condition or the wrong marketing.

Is it good for my house to sell quickly?

It depends. If your home sold in three days above asking price, you would say yes. There is a lack of inventory right now. There is a high demand and a lack of supply.  It’s simple economics.

How does a lack of inventory affect the sale of my home?

In a market with this much demand, it’s not a bad idea to price your house just a little below current market value. You’ll get buyers emotionally involved and excited about the house which hopefully results in multiple offers.

Why would sellers price their home below market value? Shouldn’t sellers price their home above market value?

No. When we advertise an overpriced home, buyers know that it’s overpriced because it will sit on the market. If the house was priced properly, it would have sold.

Tune in to KXL‘s “Experts on the 19′s” every Monday morning at 6:49AM and 8:49AM and listen to real estate advice from Portland’s Real Estate Advisor, Rick Sadle.

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