Even in this age of computer-fed journalism, gallons of ink has been figuratively spilled to discuss and evaluate the hard time that home-sellers are experiencing in the current economy. Figures in the DC area show shortened Days On the Market (DOM) and more stabilized housing prices. While this may seem like good news for sellers – a lot of the challenges are still not over.
When you want to or need to move, due to divorce, job transfers or economic challenges; you usually want to go quickly. You find yourself on the downside of Bill Moyers’ famous quip, “Buy a home, sell a house.” Even before you anticipate buying a new home, you have disassociated yourself from the old one. If you are not in a hurry, you might feel like avoiding the agony of actually going through a sale, until you really need to make one. If you are distressed and are not moving by choice, you have probably surpassed the stages associated with denial, anger, bargaining, depression, and acceptance; and really want to move on to the next stage.
Decreased DOM means that on an average, You, as a seller, will have less time to wait to get an 'ideal' offer. According to Jay McDonald of bankrate.com, for sellers whose properties don’t seem to move – DOM means DOOM. You feel no certainty that your home will sell just because you want to sell it. Your plans are delayed, you are faced with unpalatable choices such as lowering the price, you are just passively waiting to sell or choose to take the home off the market.
What might give you partial hope is that these days there are many incentives pushing buyers towards homeownership. The up side is that this triggers a sale of your home more quickly. However, the huge flipside is that you are the one providing some of the incentives, by giving price concessions, making unnecessary repairs to please buyers, and contributing to closing costs. As a buyer of a new home, you yourself may look forward to some of the same dynamics, however, as a seller, this whole process would give you the short end of the stick.
From a seller's perspective, how can you minimize your stress, as well as your DOM, so you can move on more quickly? Contact Express Homebuyers today. We buy homes for cash within two weeks – much better than the best DOM in the nation! Contact us today for the answers to all your questions!