Tight inventory brings quick sales
Here’s a sign of how tight inventory levels have been lately: More homes are selling in a flash—finding a buyer within 24 hours of being listed. In some places, homes sell in just one day. Flagstaff is one of those places — for SOME Flagstaff homes.
“It’s the extreme, though there is more of it right now than there has been in years,” said Jed Kolko, chief economist for Trulia, a real-estate website, referring to the flash sale phenomenon across the country. Read Amy Hoak’s article in MarketWatch.com here.
I’ve seen it happen in Flagstaff this spring, but seller beware: Your home may be under contract in a day but there is still all the bargaining about inspections and perhaps about appraisal value. Don’t start spending that cash until the deal is actually done.
On the other hand. seller also beware that normal market rules apply: Your house MUST look clean and uncluttered. Odd floor plans and bare dirt landscaping are not going to cut it. Over-pricing will lead to few showings instead of buyers making low-ball offers (that over-pricing to get an offer is so 1990s). Buyers EXPECT nice houses to sell quickly at the price they see listed on the internet. If they see that yours hasn’t, they perhaps will accept the judgment of others who have passed you by. Bottom line: Make your house ready to sell in both appearance and price before you put it on the market.
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