We’re almost two months into 2014, and homes are selling like hotcakes. Limited inventory and high demand are driving the market, and as I tour homes in all neighborhoods of the city throughout the week, I wonder: Why aren’t more people selling?
Because now is absolutely the time to put your home on the market if you have any inclination to do so. Maybe you have that job relocation possibility in Denver? Or you’ve owned your house in the Sunset for the last 25 years and would rather be living in wine country? There are plenty of reasons you might be considering a big move, and I’m here to tell you that you should take advantage of the market while it’s still in your favor.
The best part is that if your property requires any type of compromise, buyers are much more willing to make one (or three) in the current market. For example, the cottage above in Corona Heights was awful cute. But it was located on a busy street, had no garage, no real expansion potential and was very small with one bedroom that was more like an alcove:
Though the home took three months to sell, the point is that it sold. For only a bit less than its $699,000 list price.
What are some other compromises that buyers in the current market may overlook? Here are some of the most common ones:
- No parking, or tandem parking with one or more cars
- House with no yard or outdoor space—or one that backs up to a restaurant or school yard
- Extensive foundation or structural work needed
- Original-condition and barely livable kitchen or bath
- No closet space
- Location that’s not near retail or public transportation
- Situated on a high-traffic street, or transportation line
- Low level of natural light
- Condo with particularly limiting HOA restrictions (pets, rentals)
- Awkward floor plan
- Low curb appeal that can’t be easily helped (I’m thinking faux stone, or starters)
- Ridiculous amount of stairs at the entrance
- Older building with no heat
- Multi-unit building with low rents and deferred maintenance.
I could go on. But you get the point. Give me a shout (email@example.com/415.823.4656) if you’re ready to talk about your property’s value. I can craft a custom marketing plan that will win over home buyers and convince them that they can work with whatever objections they might have.