It’s a buyers market - for every buyer in Madison right now, there are 7 homes to chose from! What exactly are buyers looking for? What will make them say - that’s the one?

• Pricing is EVERYTHING - if your home isn’t priced right for the market, it’s not going to sell. If it’s priced too high, you won’t even get potential buyers coming through to look at it. Why is this? Because they can go down the street -in the same neighborhood- and see a home priced $50,000 less for the same amount of space & a newer ammenities.
• Yes, buyers can compare homes. The market is not what it was 3 years ago. Buyers have a choice. The choice is to move into a home that is “move in ready” for market value or purchase a home under market value that needs to be “fixed up”. It is very hard to sell a home in todays market that is priced at “market value” but needs a lot of work.
• There are many homes in Madison that are in a great location/highly desirable neighborhoods. However, that alone will not sell a home in this market unless it is priced to sell.
• Buyers are looking for newer amenities. If you are trying to sell a home without luck, the #1 thing you can do to sell your home is to install a new kitchen. Granite counter-tops & stainless steel appliances create that “wow” factor that is needed these days to sell a home
  • Be cautious of sinking a lot of money into a home though that is in a less-desirable location (i.e. a busy street).
• Staging a home is necessary! If you need a fast sale - within 30 days- you need to stage your home. (I know 2 wonderful home stagers that are very inexpensive!) What this does is it presents your home in the most desirable way possible. A buyer coming through can see themselves living there. It also creates beautiful photos for the MLS and will get buyers through the door.
• Fix the “big” issues. Buyers will not purchase a home they see as having major issues, like water in the basement, a roof that needs to be replaced or any type of damage -unless of course it is priced appropriately.
• Buyers are looking for a good investment. Properties in great locations are selling if they are priced at market value.

Buyers can be picky; Sellers must pay attention to the above if they want/must sell their home.

Written by Jamie Miller, filed under Did you know?, Madison Housing, Reference. November 1, 2007

One Response

1. Boone Says:
   November 10th, 2007 at 5:09 pm

   Great article! Thanks for sharing your insight

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