Timing A Home Sale Is Everything!
August 19, 2008 by admin · Leave a Comment
I have a real estate client who happened to find me through this blog. He and his lovely future wife were starting their new home search, and happened across my little piece of the world wide web, specifically through a blog post that I wrote called: “Are New Home Construction Prices Negotiable?”
They already owned a townhouse, but as the story often goes, there comes a time where you need to look at moving up, so a single family home was the goal. We managed to find a lovely model home in Upper Marlboro, just a few short miles from the area they already live in and love so much, and construction was not going to be completed until September, which was several months away.
We put his townhouse on the market, studied the average marketing time for his area and came up with an intelligent marketing and pricing strategy to get the home sold before his new home was completed.
All of the work analyzing timing, price, and market projections paid off! This week we ratified a fantastic offer for his townhouse, and hopefully we will be closing the same week as our client is due to settle on his new home!
There’s a few things that make success stories like this happen:
- Being realistic about the market value
- Knowing how price impacts time on market
- Marketing to the right buyers
Getting a contract ratified can be difficult in this market, but making the time frames work out this well is a BIG challenge, and proof that experience and hard work pays off, even in a slow market!
~Jonathan Benya
Century 21 New Millennium
9405-A Chesapeake St.
La Plata, MD 20646
301-653-8116
301-609-9000
