Price Your Home Right Or Your Cedar Rapids Real Estate Will Sit!

It usually all comes down to pricing doesn't it?   Cedar Rapids real estate is certainly no exception to the rule.  Are you a seller and if so, has your home been on the market for more than three months?  If so, let me ask you these questions.

1. Was your house priced to sell in the first place?  In other words, did you dictate the sale of your own house or did the real estate agent back up this price with current buyer "sold" data?
2. Have you had a price reduction yet?
3. Is your price slightly below the competition?
4. Does your competition outshine you in the curb appeal department?
5. Will you be willing to lose a bit more money on the selling side, only to gain it back on the buying side?

Pricing is so important, and especially so in the following scenario.  If you the seller are highly motivated to sell your house because of a job transfer, affordability factor, or possible foreclosure, you HAVE to make concessions on the selling side in order to rid yourself of this tremendous debt.   Many clients are 'downsizing' and moving to a smaller house with a much smaller mortgage payment.  I can't say as I blame them.  Times are hard enough, and if you don't have any money left at the end of the month to at least go out to a restaurant or movie with your family, then there's a problem waiting to become a big mess later on down the road.

Pride and sweat equity are two of the biggest factors inhibiting families from selling their homes in a timely fashion.  "I put $16,000 into that basement so my house should be worth $30,000 more."   "I have titanium nails in my 2 X 6's so my house should be worth at least $10,000 more than the competition. 

If you look at major or minor remodels of existing homes, you can expect to get arounde 70-80% return on your initial investment, so don't buy that new car just yet!  Your Realtor is your friend and ally when it comes to pricing your home to sell and not sit on the market for six months.  Listen to his advance and see what the comparables have sold for in the last six months or less.  Good luck!

Christopher Smith

Traditions Real Estate

www.christophersmithrealtor.com

christopher.smith.realtor@gmail.com

319-329-5988

Licensed Realtor in the state of IOWA

"Success in real estate at the SERVICE of others"

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