Thursday, December 1, 2011

Albuquerque Homes for Sale - Competitive or Compelling?


I recall a day when sellers were asked to price their homes competitively. That is the seller was expected to price their homes in the range of other similar properties. Well, today the sellers should price their homes compellingly. What's the difference?

This market is the new normal. The fact is it is probable that some homes in your area may not sell! Now that's a new thought! What I'm saying is your home may not sell!

What can a seller do to price their home in Albuquerque for sale? First you must look at your competition. Not just in your neighborhood, but in your area. Find out just how many homes are on the market, how many have sold, and how many did not sell. Look at the low end for the area; can you afford to sell at that number?

Look at your time frame; when must you close in order to accomplish your ultimate goal? Now subtract 30-45 days from that date as this is the time it will take to qualify a buyer. Count the number of days from today til that date, this number represents the days you have to obtain an offer from a qualified buyer. Now look at the average days on the market for you area. Is this number higher or lower than the days you have to receive an acceptable offer. Price your home accordingly so that you don't become one of the homes that did not sell.

A knowledgeable real estate agent should assist you in the process. But remember, you control the price, condition and time it will take to sell your property.

If you have any questions regarding the pricing of your home, or relocating to Albuquerque be sure to contact TheAlbuquerqueRealEstateGroup.com.

Thanks, Tim Fish
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