MARKET UPDATE: PATIENCE IS KEY
Right now, almost 2800 homes are on the market in Central Iowa. The market seems to have plateaued a little for the summer, and we can expect the numbers to stay in this general range for now. This number of inventory is still a bit of a seller’s market, but it really depends on the house you are trying to sell.
For example, homes in the 150k-250k range are selling quickly! However, the midrange 250k-450k homes will take a little bit of patience. Don’t be discouraged if it does not sell within the first few days of listing.
NOW THINKING PRACTICALLY
You might be thinking, “If my home is going to sell quickly, what is the point of getting an agent?” Great question!
Agents can help and guide you in a few ways. Most houses that are being resold are not in perfect condition, and a Real Estate agent can help you get a pre-listing inspection. This will help you as the seller be more aware of things that may come up in the negotiating process, and you can also be proactive on some of those items. Agents can also give direction on the seller’s disclosure, where you have to describe the state of your home. It is best to be clear and honest, to the best of your ability. This will help you in the negotiating and inspection process as well.
Additionally, in this sometimes-crazy market, Real Estate agents can be a huge asset to helping you navigate a potential multiple offers situation. This can happen often in a seller’s market, especially for the low- to midrange homes. You may think that the best offer is the highest offer, but many other factors can influence your decision, such as: timeline of closing, the quality of the buyer’s loan, and the inspection items. An agent can help you understand the nuances of each and decide which one is best for you.
