I wish that was an easy question to answer. Unfortunately it’s not.
We all know it’s a buyer’s market. We know that sellers have to compete with short sales and foreclosures.
If you’re in Caroline, your home is listed under $150K and it is unique, it moves pretty fast. If there are 20 homes like it, it will take longer. Once you reach the $200s, it almost does not matter how great your deal is, it’s going to take longer.
Hopefully the chart below will help sellers with understanding how long it make take for their home to sell…
In my personal experience from the last few months, buyers are concerned about more than just the house itself. They look at road maintenance, HOAs, internet, alternative septic systems, location, types of trees on the property, etc… We try to help purchasers weigh their pros and cons practically from an investment standpoint, but also personal. It used to be about what would work for the time being. Now purchasers are thinking long term. Will the home accommodate the changes in a family over the next 10 years? Will they be able to sell it easily when they are ready to move on? When a home caters to the larger populace, it sells faster.
Caroline County Sales Stats for July 2010
In Spotsylvania and Stafford Counties, our experiences have led us to believe that families want to know how quickly it take to get off I95 and to the home they are considering. They still want space – either inside or outside, and frequently both. I thought utility costs would make a bigger impact, but it does not seem to. I guess if you can purchase a home for almost half of what you could a few years ago, then it’s still considered a great deal.
Spotsylvania County Housing Stats for July 2010
What has your experience been?
