Feb

29

How long will it take me to sell my Brampton home, and the importance of pricing it right.

Filed Under Brampton, Buy, Condos, Homes, Real Estate, Sell, The Numbers 

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No one can deny that the economic woes and real estate troubles in the U.S. have us worried about any ripple effect up here in Canada. But market reports have shown that the Canadian housing market continues to push forward with little signs of slowing down. Here in Brampton the real estate market is still very active and lively, and with a strong spring market anticipated, it’s still a great time to sell your home if you’re considering putting in on the market for sale.

In my article about how the Brampton real estate market fared in December 2007, stats showed that on average it took 40 days for a home in Brampton to sell. Bear in mind that this stat reflects the slowest month of the year! So if you’re wondering how fast your house is going to sell, keep this number in mind.

However, what will help sell your home faster than any hot market, fantastic real estate agent, or aggressive marketing campaign is simply your asking price. Make no mistake - your selling price is absolutely the most important key to selling your home. Some sellers subscribe to the school of thought that listing your home for a higher price gives more room for negotiation. This may be true, but what does it matter if no one is coming to see your house?

Keep in mind that when buyers and buyer agents search for homes on MLS, they are searching within a certain price range. If your house is worth $295,000 and you’re pricing it at $315,000, you will miss the boat. If someone is searching for a house between a price range of $250,000 - $300,000, your house will NOT show up. Instead, you’ll be showing up in the next tier of search results where comparable listings will be bigger and look better than yours for the same price. How will you compete?

Pricing a house right will get you great initial activity. Over pricing your house will have it sit on the market for too long, and have buyers wondering if something is wrong with your house. Remember, you or your agent can’t really determine what your house is worth. The market will determine what your house is worth. Pricing your house at fair market value will get more interested buyers and an offer that much quicker.

Your real estate agent can give you comparable sales in your neighbourhood and your city to help you better determine the ideal selling price for your home. I suggest you use these resources, because buyers are looking at the same numbers!

With a fair asking price, lower interest rates, a fast-paced real estate market in Brampton, and the spring approaching, you will sell your home quickly!

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