Page 4 - Van Wig & Associates Newsletter, Lakewood Village ~ November & December 2019 Issue

Q & A with the real estate expert
ASK ALLISON VAN WIG

BE REALISTIC WHEN PRICING YOUR HOME FOR THE MARKET

Dear Allison, My long time. If a property otherwise continue to rent. attached to 75 percent of under contract and those left
neighbor’s home has remains listed well beyond Many sellers, however, take closed sales. Of those, 56 unsold within that period.
Qbeen on the market the average number of days advantage of tight inventory percent involved home Use the comps to set a price,
for nearly four on market (DOM) for a and jack up their asking inspections and 46 percent but only after doing all you
months. Not only is the house given area, buyers are going prices. While list-price hung on the buyer’s ability can to make certain your
in one of the most coveted to wonder why. What’s increases are steady, they are to get an acceptable appraisal home deserves the amount
locations in this city, but it wrong with it? Is the wiring not dramatic; the same seems of the property. Meanwhile, you want for it. n
also ticks off nearly every box faulty? Is there mold? Is the to apply to sales as well. 19 percent of sellers sought to
on a typical buyer’s wishlist. I place haunted? Or is the seller Summer is, traditionally, incentivize prospective buyers,
cannot fathom why it didn’t simply asking too much? the peak season for the real with 9 percent offering to pay
get snatched up in less than a Don’t expect buyers to estate business. The overall for closing costs and 8 percent
month. I’m about to put my see your property the same median DOM in July was providing a warranty.
home on the market as well, way you do. As far as they’re about 29 days. So, while Don’t list your home
but I’m not trying to pay for concerned, your sentiments demand is strong, fear of a before you’ve had a heart-
two properties for half a year are irrelevant. They don’t shifting economy can shake to-heart with your real estate
or more. What’s going on? care about the painstaking consumer confidence. Those agent. A price you consider
Am I doomed to share my process you went through to who are undeterred by erratic reasonable might not be
neighbor’s plight? - Jeremy B. create a home or how much news cycles are still vigilant to realistic for today’s market.
money you need to afford possible risks, however, and Ask your agent to share
A Dear Jeremy, New your next house. They just they want their bet to be a comparable market analysis (CA DRE #00985700) is the
Allison Van Wig
(CMA) of nearby homes that
listings appear at the want the product to be worth sure thing.
According to the National sold in the past six months.
top of MLS active what they’re willing to pay.
sales lists and typically sell Falling interest rates are Association of Realtors® In addition to list and Owner of Van Wig & Associates
you can call or email her at:
for significantly more than a making homebuying doable Confidence Index for July, sale prices, the CMA will 562-882-1581 or
house listed for a relatively for many people who might contract contingencies were show active listings, homes Allison@superbroker.com

Go to: www.LongBeachPrices.com

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