Cedar Rapids real estate:Thinking about selling your house?
We have been hearing a lot of negative talk about real estate in the media lately and this is starting to affect people's thinking here locally in the Cedar Rapids real estate market. The reality is that our local market is strong with Rockwell Collins and Aegon hiring and interest rates that are still low.
One thing that has changed, is that because of the national foreclosure talk, some local Cedar Rapids area buyers believe they can offer low offers to these "desperate" sellers. In the last 7 years since being Realtors we have never seen so many buyer's try to "steal" a house with low ball offers.
Be aware of the Cedar Rapids real estate climate sellers! Here is what we have learned:
1.Only the best priced house in the best condition sells with in each price range. Is your price correct? Are you next in the pecking order? We can show you the compeition in your area.
2. If you have not had a showing in the past 7-10 days through your house: Your house is not even close to being in the right place for a price. It is not getting found or your condition is very poor.
3.If you are getting a little traffic but no offers:Your price is a little high. Can you improve the condition?
4.If you are getting good traffic but no offers: Your competition is beating you and you are constantly in 2nd place. Realtors are using your house to sell anothe one.
It's always about getting the right price!
Some bad things that can happen with an over priced house:
1.It becomes stigmantized through the buyers eyes."How long has it been on the market?" All buyers ask and when we say "3 months," they all think. "What's wrong with it."
2.It may not appraise. You may lose the buyer all together even after they agreed to the inflated price.
3.Actually wasting money by not setting the price correctly to start.recently we listed a house for 179k when the market analysis said it was worth 169K. The seller wanted to "try it" for a while at the higher price. 4 months later, we lowered it to 175K. A total of 7 months on the market they got an offer at $168,500! They spent over $10,000 in mortgage payments, utilities and taxes. Why not price the house correctly from the start?
As mentioned earlier, condition does matter. However it's not everything. Take for instance the man that has two twenty dollar bills. One is torn and wrinkled and the other is perfect and crisp. Can the man get anyone to give him $21 for the twenty dollar bill in tip top condition? The bill is worth what it is worth. Even though people would prefer to have the better bill.
Please call us if you are thinking of selling your house and want top dollar! We provide a domain name for all of our listings for maximum exposure! See a sample at http://1360valentinecircle.garywolter.com
We look forward to the opportunity to work for you!
Gary & Melynda Wolter
Realtors Licensed in Iowa since 2001
Skogman Realty
319-350-7901
www.garywolter.com wolterteam@aol.com