It may be the winter (and a cold one this year), but the real estate market is heating up!
Homes are selling quickly and closer to (or above) asking price. According to the January 2018 REALTORS® Confidence Index Survey, “34% of properties that closed in January sold at or above the list price. Of the properties that sold at a premium price, 86 percent sold at 101 to 110 percent of the list price.”
So, what factors are pushing prices higher?
You listed your house and it didn’t sell. There is probably nothing more frustrating! What do you do next? Just stay put in your home forever or try again?
First things first, figure out why your house did not sell the first time around. Why do some listings expire and fail to sell? Here are the 10 top factors that influence whether or not your home sells:
Historically home sales and home sale prices peak in the spring and summer, making spring the best time of year for sellers to put their homes on the market. However, in his most recent column, Jonathan Smoke, the chief economist of realtor.com, has advised that 2017 is not a typical year and sellers should consider listing their homes earlier this year.
Here are four reasons that support this advice:
I have worked with many real estate agents during my years as a licensed Realtor® and I have found that this field is home to all types of agents and personalities. Did you know that approximately 1 out of every 220 adults in the US is a licensed agent (or was at some point in time). Yet despite the high number of real estate agents, I find that I can count on one hand the other agents that I would love to do business with again.
Yes, you read that correctly. I recently successfully negotiated a short sale on behalf of one of my clients and he walked away from settlement with a larger check than I did.