How to Sell Your Home in a Changing Market
The real estate market in Sun Valley, Ketchum and Hailey is changing. Selling your home in Ketchum, Idaho now requires a strategy. Since June 2020 Sellers have had the upper hand as buyers flocked to the Wood River Valley. Our market is stabilizing and sellers must consider the best strategy to sell their property.
Seller Buy Down Strategy
The Seller Buy down strategy is a process in which the seller provides a credit to the buyer, so the buyer can purchase discount points in order to obtain an interest rate that is below the market rate they would otherwise obtain. Crediting the buyer money through escrow is a cost-effective way to reduce a buyer’s monthly mortgage payment by lowering the interest rate and it is also a great sales strategy.
Consider a Contingent Offer
A contingent offer is where a buyer makes an offer on your property, but they still need to sell their own property. In a heated market contingency offers rarely get accepted. But, in today’s market, you may want to consider the possibility.
Why Consider a Contingent Offer When Selling Your Home?
The Buyer making a contingent offer may have a higher price. You will have to wait for the buyer to sell their property but you can usually structure the contract to allow you to continue marketing your home in the meantime. Contingencies are tricky and have a lot of moving parts. Good communication with your realtor during a contingent offer is a must!
Price Your Property Ahead of the Curve
In a slowing market it is wise to get in front of the market. If you price your home competitively right out of the starting gate, you are more likely to attract attention and secure a buyer with a better price. Buyer demand is present but to sell your home in Ketchum, Idaho you will have to implement a selling strategy.
Three Principles That Sell A Property
In today’s market you want to present your home at its best. You will also want to make sure you have stellar marketing and presentation.
Take time to prepare your home to sell. This can be done with minimal expense. Remove excess items, start packing and depersonalize your space.
Price your home competitively from the start. Once you have to make price reductions you are likely leaving money on the table.
Utilize professional photos of your property to market your home digitally.