It’s a buyer’s market, right? Everyone knows that. It’s all over the papers and the media. It’s in the blogosphere. Everywhere.
No one told the folks looking for a home in Silver Spring. Or at least they didn’t tell this one home seller, because their home went under contract in six days with a choice of four offers. I’m not talking high end. In fact, I’m talking the ICC going in right behind the house. Full construction going full tilt.
So? How did this happen? Oddly enough it was what we in the real estate profession call “the basics.” We looked at the comps – the Actives, Pendings, Solds – and there was plenty of data to support the recommended price. The home sellers had equity to spare so they could set a price that was competitive and attractive. Then we brought in the home stager.
Declutter. Declutter. Decutter. Rearrange. Add a few nice accessories here and there and voila! The home looked like Martha Stewart came for a visit.
Then we flipped the switch for MRIS and CSS, and the phone never stopped ringing for five days. There were 45+ showings, and people were still making appointments when the sellers and their Realtor sat down to review the four offers that had come in.
It can be done. A little money up front to stage a home and sellers willing to price to the market and buyers are the ones competing.
About the author:
Ken Montville is author of the blog mdsuburbanhomes.com and a Certified Residential Specialist. He began his career in real estate in 1999 and served as president of the MD/DC Chapter of the Council of Residential Specialists in 2007.