Harry’s Monthly Real Estate Insight

News flash! Cross Realty had a new listing that sold in 14 days! Average selling time is about 120 days; not counting how many times the home was listed with different people or renewed as a new listing. So why did this home sell so quickly? Price, location and price range. It sold under $200,000, was in a highly sought after area and was simply priced right.

The most important fact is PRICED RIGHT. The homes that are selling are priced to be in a range that is very competitive as compared to other homes in their “selling zone”. This is in the bottom 12-18% of the market they are competing with. If you want to sell that is what you have to do.

Last week I heard that a seller was throwing in a Time Share at the beach with the sale of their home. That is creative; we think we will see more of this. A Lowes gift card for carpet or landscaping is another idea. Its time to think outside of the box! Oh, to be a buyer in this market! Lastly, interest rates are predicted to creep up over the next few months. Today the rate is 5.04%. This will probably be in the middle 5% range soon. It’s a great time to buy! We’re Open on Saturdays!

Previous

Next

Specializing in properties in South Hampton Roads, Virginia.