HESITANT TO SELL NOW? REVIEW THE TREND…
In our previous blog regarding the 2012 NWMLS (Northwest Multiple Listing Service) stats for Whatcom County, figures supported the listing/selling of one’s home right now with market supply being down and prices escalating.
This conclusion is backed up by the January 2013 stats for all counties covered by NWMLS. In fact, January showed a 14.4 percent year-over-year increase in pending sales and a 23.6 percent jump in closed sales amid a 31.3 percent decline in inventory.
Mike Skahen, owner/designated broker at Lake & Co. Real Estate in Seattle commented that multiple offers and bids well over the list price are common. Adding, “Even homes that were hard to sell for various reasons are being snapped up so those sellers were wise to list.”
Lena Maul, new member of Northwest MLS Board of Directors and owner/designated broker for Windermere North in Lynnwood, supports Skahen in feeling that now is a good time for sellers to list. She comments, “Sellers who are considering a spring or summer listing may want to consider listing now as demand is outweighing supply,” and added, “This has given well-priced sellers the advantage with the benefit of quick sales and multiple offers.”
Did you note Maul’s comment about well-priced sellers? The feeling is that sellers must be smart about pricing as expressed by George Moorhead, branch manager at Bentley Properties. He notes that if priced right for the area, style and condition, homes are usually under contract within a few days.
Also noted in the current report, is the fact that in multiple-offer situations some sellers are being moved by personal letters from prospective buyers who introduce themselves and state why the seller’s home is liked by them. This approach appealed to one seller who reviewed 13 offers including one from an all-cash investor. Seller accepted the offer from the buyers who wrote the letter even though they were using FHA financing. Interesting, huh!
In summary, list now, price right and sell quickly!