Deb Tebbs Group

Cascade Sotheby's International Realty

Pricing Your Home to Sell in Central Oregon

Current housing market conditions dictate home values and selling prices. Today’s Central Oregon housing market is a buyer’s market. That means that there are more homes for sale in Central Oregon that there are buyers. This is not necessarily bad news for sellers, though. It just means that you have to be aware of the current market conditions and analyst reports in order to price your home to sell. Your real estate agent can advise you on a listing price. But, ultimately, it’s up to you to decide on the listing price of your home. Here are a few tips to help you make an educated decision to price your Central Oregon home to sell fast:

1) Don’t Be Emotional

We understand that you have an emotional attachment to your home. You’ve cared for it, loved it, raised your family there… you’ve given your home a piece of your heart. But, to a potential homebuyer, your emotional attachment does not add to the value of your home. The price of your home has no relation to the personal features and fixtures you added to it over the years to make it more enjoyable for you. The value is directly related to current market value, including comparable prices in your area. Overpricing your home will only ensure that you get very few quality buyers to consider making an offer. Be realistic about your Central Oregon real estate value. If you need assistance, contact your local Bend Oregon real estate sales agent.

2) Don’t Underprice Your Home

Homes that are underpriced in the Central Oregon market don’t necessarily sell any faster than overpriced homes. An underpriced home can send a signal to potential buyers that the price is “too good to be true.” They may think it’s a fixer-upper in need a major repairs or there are hidden costs somewhere that you’re not disclosing. With today’s housing market, there are so many schemes out there that buyers may simply not believe your listing is real. Underpricing your home also shows seller desperation. This means that potential buyers will be less willing to negotiate with you when it comes to fixtures, amenities and other things they may want to get out of you as the seller. Price your home according to fair market value in order to ensure you attract qualified Central Oregon homebuyers that are willing to buy your home at a reasonable price.

3) Educate Yourself on Home Prices

Your Central Oregon real estate agent will be knowledgeable about current home prices in the area. They will know what homes are selling, have sold recently and for how much. But, the ultimate decision on the listing price of your home is completely up to you. That’s why it’s important to make sure you’re educated on the current home prices or homes that have recently sold in your community. Drive around the neighborhood on the weekends. Visit a few open houses to see what sellers in your area are offering. Check out MLS listings to get a better idea of your competition. The more you educate yourself, the better you can work with your Central Oregon real estate agent to make an educated decision to price your home to sell.

Price Your Central Oregon Home to Sell

One of the hardest parts of selling your home is making sure you set a competitive price. You don’t want to overprice your home because this will decrease the amount of offers you receive by discouraging qualified buyers. You also don’t want to underprice your home, sending a message that your home may be of low quality or that you’re desperate. Remove your emotions from the equation to help you make the right decision. Price your home according to the current fair market value so that your home won’t be listed on the market for years to come. Work with your Bend Oregon real estate agent to help you price your home to sell fast.

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Bend Real Estate Market Spotlight Update for 2012

Market Spotlight

Bend Area real estate report for 1/1/12 thru 8/9/12:

New Home Sales = 2,059: an 11% increase over same period in 2011
Average Price = $250,553; an 8% increase from same period in 2011

Condominium Sales = 25, a 12% increase over same period in 2011

New Land Sales = 230; a 24% increase over same period in 2011
Average Price = $90,265; a 6% increase over same period in 2011

In summary, our area market has seen a steady increase in overall number of sales with a large number of sales in the low to mid-range. There appears to be some stabilization of pricing as inventory is down slightly from last year with brisk sales. Also, homes above $500K are also starting to move, however, higher priced homes still represent an amazing value from previous years prices. The 2,000 plus transactions in Bend area this year would indicate that the word is out.

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Wall Street Journal Says Housing Bust Finally “Over”

Bend Oregon Real Estate Housing Market 2012On Wednesday, the Wall Street Journal said that the housing market has finally turned. Citing prices bending upwards, nearly 10% more homes were sold in May when compared to the same month last year. News like this only means one thing, buy! Our Bend Oregon real estate market is no exception to these pricing increases. Contact Debbie today for an updated property sheet.

http://online.wsj.com/article/SB10001424052702303644004577520414196790098.html

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