Sellers
Factors that Affect the Average Selling Time of a House
A good or excellent product is already half the battle won. Even in tight times, defects have had to be substantially repaired or be sold at appreciably lower prices.
Pricing is another major concern since a house can be priced out of a particular market. If after a reasonable period, a house has not sold, the vendor might have to lower his sights. The cost of financing, the down payment required by the purchaser and other cost considerations all affect the sale of the house.
Timing, which is basically the condition of the market when the property is offered for sale, is also very important.
The competition is that aspect which is controlled by the purchaser. Such a purchaser is at liberty to visit and examine as many houses as he chooses. He decides exactly what he
wants for his money. But the vendor can do much to stay right up there in the keenest competition.
My strategy of conducting a Comparative Market Analysis of the property eliminates much of the guesswork involved in establishing a fair market value and subsequent listing price. Through an analysis of similar properties recently sold in the area, we are able to ascertain the highest price that the buyer is prepared to pay for a home such as yours.
