How do you price your home? My team and I have a fairly simple system to make sure that you don’t leave any money on the table.
First, we figure out what the market is like in your area. In a seller’s market, there is less inventory than there are buyers and prices are rising. In a buyer’s market, there is more inventory than there are buyers and prices go down. In a balanced market, there is an equal amount of buyers and sellers – balanced markets usually don’t last long, though.
Next, we look at active comparable listings so you know which properties yours is competing against in your area. We also look at homes that have received offers and are pending sales, and sold comparable properties.
We know that active listings generally need to undergo one or more price reductions before they sell. Pending sales mean those properties were priced well. Sold properties reflect the market value of the home. We balance all of this information in order to come up with your comparable market analysis, or CMA.
Finally, we factor in the condition of your home. We look at any repairs that are needed and figure out what cosmetic updates should be made. We also bring in a home stager to help your house look your best.
This process helps us find the best price for your home so you can sell quickly and for top dollar. If you have any questions, please give us a call or send us an email. My team and I would be happy to help you!
As a real estate agent, one of the most common questions we get asked is, “How is the market?” The June numbers are in, and we are here now to give you an update.
We are currently in a seller’s market, meaning sellers have the upper hand. This is measured by our level of inventory, or absorption rate. It’s a measurement of how long (given the numbers of sales over the past year) it would take all the homes currently on the market to sell if no more were listed or expired. A balanced market is around six months of inventory. Right now in Dane County, we only have a 2.37 month supply.
Compared to the end of June last year, this June we had 300 more homes on the market and 74 more homes sold. They are also selling an average of eight days quicker. The average days on market in Dane County is now 52 days.
Moving onto condos, we have seen 45 fewer condos listed this year, but 50 more have sold compared to last year. The average days on market for condos is also down considerably – about 19 days.
What does this mean? If you’re a seller, you’re at an advantage as long as you price correctly and have the right strategy. For buyers, it’s imperative to set an appointment and do a consultation with your Realtor. For us, we want to listen and find out what your goals are so we can make our motivations match in order to get the home you want. You’ve got to be able to act quickly and decisively in a climate like this.
If you have any questions, give us a call or send us an email. We would love to hear from you.
What a better way to introduce our new listing located at Eagle Island View Condominiums than with a letter from the sellers;
Welcome to our home!
We know you’ll love this place as much as we do. We bought this condo as our first home when we were engaged to be married and had just graduated college. We started looking for houses and couldn’t find anything we fell in love with. As we expanded our search to condos, we very quickly warmed up to the idea of not having to maintain a yard or shovel snow with our busy schedules.
As soon as we walked into our condo, we fell in love with the luxurious design. It was the perfect size for us with an open layout, spacious master suite, and had beautiful finishes like the gorgeous granite counter tops and tile in the kitchen and bathrooms.
After living in our home for over five years, we have grown to love it even more. The amazing shared patio is a perfect place to sip on wine and grill steaks while overlooking the Wisconsin River. Even our private patio is perfect to bask in the sun on a summer afternoon and read a book. The building is located perfectly with a grocery store, two restaurants, a bank, a park, and a library, all within walking distance! We are surrounded by great neighbors but also feel that we have enough privacy.
We’ve made many memories in our first home including regular walks around the neighborhood or to the nearby park, puddle jumping with the kids in the parking lot, and planting flowers to display on our private porch every spring. We would often walk to the grocery store to grab a few things, swing by The Blue Spoon for dinner, or even stop by the movie theater for some delicious popcorn. We really loved that we could spend time making memories and not have to worry so much about the “chores” involved with home ownership.
After we started a family, we realized that we would eventually outgrow our beautiful home. After having our second child, we knew it was finally time to move on. It is very bittersweet for us to move on to a different home but we hope you love our place as much as we do!
To schedule a private tour of this beautiful condo, please contact our office at 608-852-1035.
We will be contacting you shortly with information about your home.