I recently attended a Real Estate Seminar put on by Howard Brinton of Star Power where I met with Top Realtors from all over the Pacific Northwest. One of the presenters described our local Real Estate market as “a Price War & Beauty Contest”. I thought WOW, how true it is!
To sell a home in today’s market your home needs to be the best-priced house out there, and it must be the best-looking one as well. I have been representing buyers and sellers in the Greater Seattle area since 1983 and have witnessed various types of Seattle housing markets over the past 25 years. Although the current market is trying at times, it in no way compares to past market slumps such as that of 1990.
It is important for people to understand that the market we have become accustomed to over the past 5 years is in fact an “abnormal” market. We just need to change our approach. These days I am advising my sellers to hire professional stagers to maximize the first impressions of their home to potential buyers and to price their homes aggressively.
If sellers are unwilling to acknowledge the realities of our current market, I tell them to hold on to their home for the foreseeable future.