Within the last year, I've noticed a shift, with most sellers becoming more open to taking advice when it comes to making necessary changes to get their homes ready for the market.
However, there are always a few reluctant sellers who do not feel it is necessary to make changes. Unfortunately, they realize later that it has cost them so much more in the long run.
After numerous months of no activity and no showings on their homes and paying the monthly mortgage, taxes, utility bills, along with all the upkeep, these reluctant sellers realize they would have been better off investing a little time cleaning things up, organizing, painting or having their home staged professionally to make it shine in a market with so many options.Some of these sellers, even after six months of having no success, think changing real estate companies will get them the sale and do not consider that the price is why their home is not selling. They end up having to reduce the price and then making the changes anyway. All too often, they then find out that potential buyers have moved on, are no longer interested and have written an offer and are closing on a different property.
Shift in market
This is a big mistake for sellers. The market has shifted, and national statistics show that most homes are now selling at least 5 percent below their assessed value.According to the Realtors Association of Northeast Wisconsin, the current simple market study taken from the multiple listing service for June 2010 to June 2011 shows that homes listed from zero to $90,000 range in northeast Wisconsin have a little over a 13-month inventory. The median price range of homes listed in the $200,000 to $225,000 has a 24-month inventory. This is based on the units sold in these categories within the last 12 months in the Northeast Wisconsin Multiple Listing Service.
Source http://www.fdlreporter.com/
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