#5. HOUSING MARKE G MARKET
Your home is subject to housing market prices. There’s both supply and demand, and your supply (your home) will sell only if there’s demand for it. The market can change anytime. It is influenced by several factors, such as: • The national economy: If people are concerned about the future, they don’t spend money and real estate prices will eventually drop lower and lower. • The local economy: If your location is in a good economic season, and it has consistent job opportunities, good schools in multiple places, and sound infrastructure, then it’s a perfect opportunity for a higher selling price. If the market is offering plenty of homes, it means the buyers have more choices, and yours must appear to be a higher-quality property, at a better price. In that case, it's difficult to sell for a good price and in a short time—especially if you do it by yourself. However, if you call an agent to sell your property, your house will be advertised in the best possible locations, including many real estate websites. If you’re selling an expensive house, you can advertise in niche publications that target higher-income professionals. Or, if you’re selling a single-story ranch house, market it in publications servicing seniors appreciating the architecture and a home without stairs. Bonus Tip: To improve the presentation of a property, update rooms like the kitchen and bathrooms, then accent them with such things as clean linens, fresh flowers, and minimal furnishings. 6
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