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, particularly in the present climate of uncertainty?
The landscape of Bend and Eugene’s real estate markets is changing rapidly as the full reach of COVID-19 becomes clear. For at least the past five years, Bend and Eugene have been strong seller’s markets. So far, with sellers hesitating to list their homes in either market, inventory has dropped even further than normal. At the same time, as restrictions begin to ease, plenty of buyers are ready to purchase if they find the right home. Prices have for the most part held steady in both markets, and we expect values to climb as we head into the summer.
As a result, sellers who plan to put put their homes on the market in the next several months stand to benefit from less competition. That may not be the case for long, however. Eventually, as the the full ramifications of the current recession become clear and forbearance options run out, more people will need to sell their homes.
It’s therefore difficult to predict which direction Bend and Eugene’s markets will head in the next year or so. For now, homeowners who are on shaky footing with little equity built up may want to consider an exit strategy. For those who have been planning to cash out their equity but have been waiting for the right moment, this may be the right moment.
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. 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!