Sellers: 3 Signs it’s Time to Lower the Price on Your Troy Michigan Real Estate

Posted in Troy Michigan Real Estate by Michigan Real Estate Expert on November 6th, 2008

Selling your Troy Michigan real estate in a slow market isn’t easy, but it can be done. Pricing your home right is the key to selling it within a reasonable amount of time. Sometimes this could mean lowering your price while it’s on the market. Of course, you want to get as much money as possible, so how do you know when it’s time to lower your asking price?

  1. No one is looking at your home. If you expect your home to sell, you need to have people look inside it. Most buyers search for homes within a certain price range. If you aren’t getting any showings, chances are it’s because your home is overpriced compared to other homes in the area. In this case, you may need to lower your price so buyers will look at your home.
  2. Comparable homes are selling for less. Your home will sell for whatever a buyer is willing to pay for it. If the homes around you are selling for less than your asking price, it may be time to lower it. No one is going to pay more for your home when they can get the same thing for less. Pay attention to what homes are selling for in your community and adjust your price accordingly.
  3. You are getting a lot of negative feedback. Buyers are a great source of information about other homes in your price range. After all, they’re spending their free time looking at countless homes similar to yours. Your Troy Michigan real estate agent can find out exactly what buyers think of your home. Perhaps homes comparable to yours have updated kitchens or more attractive landscaping. With this knowledge, you can choose to either remodel or lower your price.

If you’re ready to prepare your home for market, I can help you sell your Troy Michigan real estate for more money with our exclusive Maximization of Value Assessment. And as a licensed real estate broker and lawyer, I’ll not only help you sell your home for Top Dollar, but I’ll keep you from making costly legal mistakes.       

Staging your home can help it sell quicker and for more money.  Order your Free book, “Staging Tips to Prepare Your Home for Market.”  Absolutely no strings attached!  If you’re ready to hire one of the best Troy Michigan real estate agents to sell your home, call me today at 248-514-2640 or contact me now.  

Lee Morof
RE/MAX Showcase Homes
Birmingham, Michigan
www.NorthWoodwardHomes.com
info@NorthWoodwardHomes.com
Call:  248-514-2640

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Accurately Priced Troy Michigan Real Estate Home Sells Above List Price

Posted in Troy Michigan Real Estate by Michigan Real Estate Expert on July 20th, 2008

I am a RE/MAX Associate Broker/Attorney selling homes in Oakland County, Michigan. Recently, one of my law practice’s former clients asked me to help her sell her vacant home in Troy, Michigan.  I had previously been her attorney with regard to a condominium purchase from a by owner seller. The Troy home had been on the Troy Michigan real estate market for about a year with no offers and the listing had expired. I met her at the home. The home was not in bad shape but did need some painting, minor staging, and some minor repairs. She agreed to do these things and I went back to the home about two weeks later after doing a market analysis. The home was ready for market. Surprisingly, her previous Realtor made none of the suggestions that I had made.

When it came to pricing, the previous Realtor listed the home between the middle and top of the market in a market that declined in value. I convinced the seller to price the home between the middle and the bottom of the market because I had determined that that was where the buyers were buying so it only made sense to price the home in that range. I was right! The home sold for an amount above list price within one week after mulitiple showings and multiple offers. The competing buyers and their agents knew the home was priced right and the fear of loss caused the winning buyer to pay more than list price. The result was a happy seller able to move on with her life without the entanglement of a vacant home sitting on the market.  

Are you a Troy Michigan real estate homeowner who is thinking of selling?  Give me a call today at 248-514-2640.

Lee Morof
RE/MAX Showcase Homes
Birmingham, Michigan
www.NorthWoodwardHomes.com
info@NorhWoodwardHomes.com
Call:  248-514-2640

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