How to Sell Your Bend or Eugene-Area Home
All sellers want to get “top dollar” for their properties, right? The question is: how do you do that, especially with a recession looming?
The landscape of Bend and Eugene’s real estate markets is changing rapidly as the full reach of COVID-19 becomes clear. A recession looks inevitable at this point. For at least the past five years, Bend and Eugene have been strong seller’s markets. But leverage will almost certainly shift toward the buyer’s side in the months ahead.
Right now, sellers of most properties can expect to get close to what they would have fetched pre-virus. Values will likely drop, however, over the next several years. We don’t expect to see depreciation on par with the 2008 crisis in either Bend or Eugene. Still, homeowners who are on shaky footing with little equity built up may want to consider an exit strategy.
With the rules of the game changing so quickly, it’s more crucial than ever 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. In the recent past, sellers in Bend and Eugene deliberately under-priced their homes to generate bidding wars. This strategy will be less effective, however, with more buyers hesitating to offer above list price.
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 the new leverage at their disposal, and your agent needs to know when to stand firm and when it’s best to compromise.
Getting your home in good shape and having truly professional photographs will be 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, in more of a buyer’s market, it will be important that 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.
Custom Property Valuation
Fill out the form below for your custom, comprehensive property valuation, created in much the same way appraisers do their appraisals. It’s really that easy!