The data I use is from the Western North Carolina Regional MLS and is for Henderson County NC. This is an overview and really helps prove my point to sellers. Using only the residential real estate the numbers show that Henderson County decreased in number of transactions from 1874 in 2007 to 1202 in 2008 a 35% decrease. The average sale price decreased from $259,874 in 2007 to $232,507 in 2008 which is a 11% reduction. as a whole the sales volume in 2008 dropped 43% from the 2007 volume.
What this means to a seller is if you want to sell your home you have to make it the best value for your type of home & neighborhood. That is nothing new you always had to do that or the buyer would just buy the competition home. What is different now is in order for your home to be the best value you as the seller have a whole lot of work to do. You must price it approximately 10% below what the market shows. because of declining values you need to stay ahead of your competition. You also need it to show well. That means removing the clutter, fresh paint or clean the walls, kitchen & bathrooms real good. If your carpet or flooring looks dated or worn you should update it. You should have a pre-listing Home Inspection. You should use a full time Realtor. One that has a strong Internet presence to market your home. Since over 80% of buyers start their search on the Internet you need to have your home on the web in a lot of different places like Realtor.com and REMAX.com the #1 & #2 places people go to, to find real estate listings.
Call me, Rory Molnar, or just email me at Rory@RoryMolnar.com for more information. If you are a buyer or seller please look at http://www.rorymolnar.com/ to find answers to all your Western North Carolina Real Estate Needs!
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