How to Sell Your Hour House in Bend & Eugene, Oregon
All sellers want to get “top dollar” for their properties, right? The question is: how do you do that, particularly in the present climate of uncertainty?
The landscape of Bend and Eugene’s real estate markets is changing rapidly in the age of COVID-19. An unprecedented wave of buyers hit both markets in the summer and fall of 2020, while sellers have still hesitated to enter the market. As a result, buyers are competing for increasingly limited inventory. Prices in both Bend and Eugene reached record highs in the fall of 2020, and sellers at most price points have unprecedented leverage.
At the same time, an easy sale isn’t guaranteed, and most of the normal rules of Bend and Eugene’s markets still apply. If you are planning to list your home, it’s crucial to price your home right. Overshoot, and you’re bound to leave out a whole swath of buyers who might otherwise be interested in your home. One or more price reductions later, you’ll be in a much worse position than when you started.
Under-price your home, and you’re obviously leaving money on the table. On the other hand, it may be worht considering strategically under-pricing your home in order to encourage more competition and perhaps a bidding war.
Whatever price you’re at, negotiation will be key to getting the most value possible out of your home. Buyers’ agents will seek to use any leverage at their disposal, and your agent needs to know when to stand firm and when it’s best to compromise.
With more buyers searching for homes exclusively online during the pandemic, having truly professional photographs and ensuring your home has all the right cosmetic touches is more important now than ever. Knowing which repairs to do (or not do) before your home hits the market contributes to your bottom line and the amount of money that ends up in your pocket. Sellers frequently spend too much time and money on unnecessary repairs and improvements that will not add value to the sale.
With that said, even in a seller’s market, it’s important to make sure your home stands above the pack. A few cosmetic updates can go a long way, whatever segment of the market you’re in.
Property value estimates on the large national sites generally cannot be trusted. The algorithms they use cannot account for the current condition of the home, upgrades/remodels, micro-neighborhood conditions, etc. Thus, depending on the neighborhood, the values can be wildly off.
Our property valuations are free, tailored to your property, and created in much the same way that appraisers do their appraisals. This is not a computer-generated valuation. It is based on the information you provide, and we will use at least three comparable properties that have sold within the last 90 days. This is a custom and comprehensive valuation.
Read our latest market report for Bend and Eugene.