Buyer’s Market or Seller’s Market? Good time to sell or good time to buy in Tulsa?
General consumers often ask real estate professionals how our market is doing, as real estate trends are an integral factor of how our economy is doing in general.
In Tulsa, our inventory of homes for sale is higher than it has been in several years, but between Buyer incentives and low interest rates, our Buyer activity is high.
Which leads us to the logical conclusion . . . if it’s a good time to buy, then it has to be a good time to sell!
Although the stimulus money deadline is drawing near, the interest rates buyers can obtain are still extremely attractive. If you are ready to downsize, there is a family out there that is ready to leave their starter home for a larger home. And there are first-time Buyers who will be interested in that starter home you are leaving!
Yet you drive by a home that has had a Realtor sign in its yard for almost a year and worry that your home might not sell.
Buyer’s Market or Seller’s Market? Good time to sell or good time to buy in Tulsa?
Because the inventory of homes is high, your home MUST BE in move-in condition to sell. Because Buyers have much from which to choose, they will not consider homes that need work.
Your home must be priced correctly. If the average home in your neighborhood sells for $80/square foot and yours is priced at $100/square foot, Buyers will not consider it. An over-priced home will be on the market longer and endure price reductions – two factors that actually “lessen” the value of your home in the Buyer’s eyes.
Your home must be marketed aggressively. With almost 90% of the Buyers searching for homes on the internet, photos and virtual tours of your home must be plastered on numerous web sites.
Move-in ready, priced correctly, marketed aggressively – the winning strategy to selling your home in Tulsa!
