Paul's Bellingham Blog

My thoughts on Bellingham, the Real Estate market, and more

Why You Should List Your Home Priced Right, Move-In Ready

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Many sellers I meet with often want to list at a price slightly above market value, to leave negotiating room and see if they can make more money on there home sale. Other sellers have a hard time spending money on repairs and updates hoping to sell “as is”. This is not always a bad strategy, but the numbers provided by the NW Multiple Listing Service and recent research, indicate that the odds are against you if you list your home in below average condition, and/or overpriced.

For listings taken from January 1st, 2013 to February 28th, 2014 in NW Washington:

Homes Sold in first 30 days: 42%.  Sold in 31-60 days, 14%, Sold in 61-90 days:  7%, Sold in 91-120 days 5%.

You can see that if you do not get your home sold in the first 30 days on the market, your odds of getting an offer drop off significantly. That is a good reason to list your home priced competitively from the beginning.

For sellers who do not want to put money in to the home, research indicates the best return is ALWAYS getting the home in good condition prior to listing.

A recent survey by the PulteGroup revealed that 65% of home buyers prefer spending more money on a home that is move-in ready, compared to doing renovations. In addition, homes that are “staged” also have been shown to sell for as much as 8% higher then non-staged homes.

So getting your home in good condition and priced right pays off.  And you don’t need to do everything on your own. For sellers in Whatcom and North Skagit county, we have great resources to help you coordinate repairs/landscaping/cleaning/staging to prepare your home for sale.

We help you position the price right, but also help get it show ready to help you get top dollar. We know what repairs will give you a maximum return and what updates are not worth doing prior to listing.  Contact me today for more information.

(below is a staged home listed and sold in 2014 in Burlington)