Many home sellers are understandably concerned about a looming recession and how it will impact their ability to sell their home in Albuquerque. But just because there may be a recession doesn't mean your home won't sell. It just means there are things to consider to make sure your home is as competitive on the market as possible. Right now, we are in what's considered a buyer's market, which means you'll need to do mare to attract buyers.

Here are 3 main factors to look at:

Pricing

Strategically pricing your home for sale in Albuquerque means the difference between making and breaking the sale. In a buyer’s market, getting the price right is critical.

While market value is based on the sales prices of similar homes in your neighborhood, in a buyer’s market it pays to be aware of your competition. This means looking at homes for sale in your area online. If you find one that is priced comparable to yours, you’ve found your main competitor. If it’s in far better condition than yours, you have two choices, upgrade your home similarly, or adjust the price of your home. We can help you decide which of these two choices would be more advantageous.

Flexibility

Due to new rules regarding social distancing, you will need to be more flexible when it comes to showing your home. No matter what, you home should always be kept clean. Photos will need to be taken to show your home online, as more people will be using our website to look at your home. And in the event that your home will be shown in person, you need to be able to make it ready to view and have arrangements to be safely away from your home during a showing.

Concessions

Home buyers can become unreasonable when they know they are in the driver’s seat. They may ask for personal property to be included in the sale, such as furniture or play equipment. They may ask for credit for carpet or vinyl replacement even if there’s not a thing wrong with the existing floorcovering except that the buyer doesn’t like the color or pattern.

There is no rule about how to handle these situations, since just about everything in a home sale is negotiable when it comes to concessions. If it will pave the way to a smooth and quick closing, many homeowners are more than happy to accommodate the buyers’ requests, as long as they’re reasonable.

Unfortunately, you may need to sell your home when the market is stacked against you. Get your price right, be flexible and have plenty of patience and you’ll get through it.

Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Contact us today to help you buy or sell your next home in Albuquerque.

HOT HOME LISTING OF THE WEEK!

10647 SUMMERCREST Drive NW, Albuquerque, NM 87114  $310,000

4 Bedrooms / 3 Bathrooms (2 full, 1 half) / 2820 Square Feet

VIEWS of the Sandia Mountains!! Beautiful 4BBDR/3BA/3CG home with 3 living spaces! Light, bright and open floor plan with living room, family room and large LOFT!! REFRIGERATED AIR! NEW ROOF! NEW CARPET! Updated flooring! Under stair storage! Kitchen features upgraded raised panel cabinetry with crown molding, granite countertops, LG appliances, tile flooring, recessed lighting, island, walk-in pantry & breakfast nook! Family room features cozy fireplace. Master suite features double door entry, walk-in closet with built-in shelving, dual sink vanity, sep shower and garden tub. Huge backyard with open patio and pergola covered outdoor space for entertaining! Terrific location close to Cottonwood Mall, shopping, restaurants, Rust Medical Center, schools and parks!

Contact the Sandi Pressley team for additional details! 

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