There is no easy answer! Some homes sell in a few days, others may take several months. Recognizing the key factors influencing a sale can give you significant control over market time. Hiring a realtor with EXPERIENCE should help guide you through these factors. The proper balance for these factors will expedite your sale:
1. Location: It is the single greatest factor affecting value. Neighborhood desirability is basic to a property's fair market value
2. Competition: Buyers compare your property against competing properties. Buyers interpret value based on available properties.
3. Timing: The real estate market may reflect a Seller's or Buyer's market. Market conditions cannot be manipulated; an individually tailored marketing plan must be developed accordingly.
4. Condition: Property condition affects price and speed of sale. Optimizing physical appearance and advance preparation for marketing maximizes value.
5. Terms: The more flexible the financing, the broader the market, the quicker the sale and the higher the price!
6. Price: If the property is not properly priced, a sale may be delayed or even prevented.