Survey Says: Home Sellers Are Getting the Message
Home sellers have big expectations of multiple offers, bidding wars, and high prices when they list their home for sale, according to a new survey from realtor.com®.
Homeowners seem to be getting the message about the booming housing market and bidding wars erupting nationwide. Home prices are up 17% over the last year, according to realtor.com®’s data. As such, 94% of home sellers say they expect to get more than what they originally paid when they bought their home. One in 10 sellers expect to get double what they paid for the home.
Sixteen percent of sellers say they expect a bidding war to take place for their home and that they’ll have multiple offers to choose from. A quarter of sellers expect to have an offer within a week of listing, and 16% expect to receive an all-cash offer.
Also, many homeowners expect they won’t have to do much before settlement to make buyers happier. Twenty-four percent don’t expect to pay for any repairs or improvements to the property. Sixteen percent of sellers expect buyers to waive contingencies, such as financing, appraisal, or home inspection.
Source: National Association of Realtors, Realtor Magazine
Are you active in the market looking for a Bucks, Montgomery, Delaware or Mercer County home to buy or sell? More than ever, you need expert, professional representation. Before you list your home for sale, call The John McClintock Team at 267‑759‑9518 for no obligation recommendations on dealing with bids, realistic prices and precise timing.