Why Your Maryland  Home Did Not Sell & 3 Reasons It Should!

 

I heard this complaint  often enough when I call homeowners whose house expired and it did not sell. "My agent did not do enough open houses" 

Did you know that houses that are sold during an open house is a very rare event indeed. 

The National Association of Realtors (NAR) recently said that only 11% of homes are sold during an open house. 

What are the chances, you wake up a Sunday morning and you are lured by an open house sign and later you're signed up to buy a house?  

Buyers plan months ahead before qualifying and getting ready to buy a home. During this time, they have touched at least a dozen Realtors that will be more than willing to show them any house in the market, every day of the week! 

Open houses attract other sellers and future (6 months) buyers for your agent

Today, I will show you 3 Charts that will shout "List Your Home Today!" 

 

In school, we all learned the theory of supply and demand. When the demand for an item is greater than the supply of that item, the price will surely rise.

 

SUPPLY

The National Association of Realtors (NAR) recently reported that the inventory of homes for sale stands at a 3.8-month supply. This is considerably lower than the 6-month supply necessary for a normal market.

 

DEMAND

Every month NAR reports on the number of buyers out in the market looking for homes, which is also known as buyer traffic. As seen on the map below, buyer demand in March was strong or very strong in 45 out of 50 states nationwide, and Washington, DC.

 

Many buyers are being confronted with a very competitive market in which they must compete with other buyers for their dream homes (if they are even able to find a home they wish to purchase).

Listing your house for sale now will allow you to capitalize on the shortage of homes for sale in the market, which will translate into a better pricing situation.

 

HOME EQUITY

Many homeowners underestimate the amount of equity they currently have in their homes. According to a recent Fannie Mae study, 37% of homeowners believe that they have more than 20% equity in their homes. In reality, CoreLogic’s latest Equity Report tells us that 78.9% actually do!

 

Many homeowners who are undervaluing the equity they have in their homes may feel trapped, which may be contributing to the lack of inventory in the market.

 

Bottom Line

If you are debating selling your home this year, let’s meet up to evaluate the equity you have in your home, as well as the opportunities available in your market.

 

Hi, my name is Fernando Herboso and my focus is on taking the time to help you and your family find a buyer for your homes home providing value-added services and benefits.

I am sincerely interested in my client's problems and my focus is to help them solve it..

I promise to take the time to understand who are you? 

What's important to you?, 

What are your goals objectives and preferences? 

Please call me at 240-426-5754 

or email me at Fernando@ReallyNiceHomes.com