Q: Can you sell your Sea Isle house in today’s market? If so, what is the secret?
A: That’s a great question. From January 1st through today, 139 units have sold in Sea Isle City. So what is the secret to selling your house? The secret is this, if it’s not new, make it like new.
We have sold a lot of homes over the past year and the one thing that they almost all have in common is that they are either new constructions or in “like new” condition.
One example is a condo that we had for sale on 45th and Landis. This unit was on the market for about 7 months with some activity, but no true interest. The sellers then took our advise and invested some money into the kitchen and furniture. Once it was completed, the unit went under contract in 3 months and sold for 98% of the asking price!
Another example comes with a buyer that we had been working with for well over a year. The husband and wife said that price was the most important factor in their buying decision, even if they have to do some work to the unit. We spent countless days touring houses in their price range – all needed some work and just didn’t do it for them. Then a 10 year old townhouse came on the market. The seller of that townhouse made two very wise decisions. First, he priced it right. Second, he repainted, re-carpeted and refurnished the house (even the tags were left on the sofas). This unit was out of the buyers target price range, but in the end, they bought it at 93% of the asking price and settled 55 days after it was put on the market. They referred to it as the 10 year old new house.
A third example was a 3 year old townhouse that sold in the Spring. The house and furniture were both in excellent condition. However the sellers still did some touch up painting and had the carpets professionally cleaned. It sold in 56 days for 94% of the asking price.
In this market, price point is very important, however isn’t enough to sell a house. The winning strategy is a combination of price point and reinvesting in the sale property. Successful sellers have a firm understanding of their market value and what it takes to create a “turn key” unit.
Please do not hesitate to call if you would like to schedule an appointment with a Laricks Real Estate agent to meet you at your property to discuss a plan for selling your house.