We’re experiencing some serious pangs here in the Minneapolis real estate market as, of course, are most markets around the country. As a result, it’s a great time to buy a house, but it’s not such a good time to sell a house. The market is soft, and people are tightening their belts. In addition to that, it’s almost winter time in Minnesota, and house sales tend not to be as robust during this season.
However, if you are thinking of selling your Minneapolis house, you needn’t despair. Just because it’s not the opportune time to sell doesn’t meant you shouldn’t sell your home.
If you are looking to sell your home, there is one major factor you have to keep in mind: In tough times like this, you have to have the best possible priced house in your competitive market. There are a plethora of houses available with less and less people buying, so your house has to shine.
Simply put, your house has to be priced competitively with other houses being sold in your neighborhood. Your heart my tell you that your house is priceless while your mind may tell you that since you paid x amount of dollars for it, it should be worth y amount of dollars this many years later. Both of these responses are natural, but the truth is, your house is worth as much as the market will bear.
To that end, you have to decide a timeframe for selling your Minneapolis house. If you have to sell your home quickly and it’s not in tip-top shape, you will have to lower the asking price accordingly. If, however, you have a more flexible timeline for selling your house, you can use that time to update your home by buying new appliances, painting faded walls, or, if you’re a bit more ambition, put in a new kitchen. The more updated your house is, the higher you can price it.
Here are some articles we’ve written to aid people in selling their homes.
The bottom line is that you CAN sell your home in a down period; you just have to make sure the price is right.
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