What Are the Odds?

Have you ever contemplated listing your home during the dull-drums of November or December, wondering what sort of outcome you’d get?  Will I sell, will I get any buyer traffic, is it worth my time during these months?  The  answer is a resounding YES!  The weather may be rainy outside, but the buyers in this market time are the real deal.  Many are relocating and the year-end timeframe is perfect to begin fresh with work and school.  And now we have the extended $8000 tax credit for first-time home-buyers as well as the additional stimulus tax credit of $6500 for re-sale buyers!  WOW!

To futher illustrate where I’m going, visit this recent blog post discussing your odds of selling.  Inventories are dropping, sales are rising, all making the world of commerce go-round.  The magic phrase of the day is called “real estate absorption rate”:  one month’s sales divided by one month’s inventory.  So if there were 500 homes on the market and 125 solds for the month, the absorption rate is 25%, creating a seller’s odds of selling in the next 30 days 25%.  The key is pricing right from the beginning and making the home the best it can be.  In real estate, the cards need to stack in your favor.  Listen to the market.  So what are your odds?

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s