The most recently sold and the ones that are pending are the best; six or even four months ago may not reflect today’s market, says Brendon De Simone, a broker in New York City and the author of Automatic valuation tools, such as from Zillow and Trulia, are definitely great sources of intelligence.
“One agent described it to me as ‘blood in the water,’ ” she says.
To help you arrive at a price, your agent should show you up to 10 comparable active, pending, and recently sold (in the past three months) listings and sales.
In part one of our Spring Real Estate Guide, we told you what to do if you want to buy a home this year. Stay tuned for part three, with advice for those who want to say put and add value with home improvements.
If you haven’t sold a house in the past decade, brace yourself. They’re savvier about market dynamics and data and want to see houses on their own schedule, says Redfin’s chief economist, Nela Richardson.
“We’re finding that buyers want access to your house when it works for them,” she says.
“They don’t want to wait for the open house.” Baking cookies won’t cut it anymore.And if your home is still sitting come Labor Day, think twice about keeping it on the market into the fall.“By then a lot of people have made their choices, and if your house has been on the market for six months, people automatically assume something is wrong,” says Sebulsky.The one thing you don’t want to do is try to buy a new place with the contingency that you have to sell your old place first.Nothing kills a deal faster, especially if you’re up against other bidders. Gorgeous photographs, video walk-throughs, perfect floor plans—buyers want it all.“As a buyer’s monthly payment goes up with rising rates, something’s got to give—and that’s likely your home price,” says Keith Gumbinger, vice president of HSH, a mortgage information provider.