According to Mid Hudson MLS there are 84 homes currently for sale in the Village and Town Rhinebeck, NY. In the past 9 months 33 homes have sold. . A quick calculation tells us there is currently 21 months worth of inventory on the market.
What does this mean for sellers? It means you have a lot of competition, buyers are expecting lower prices and your house for sale in Rhinebeck needs to stand out from the rest.
There are three things a seller must do to sell their home in todays market:
- Price it correctly
- Present it at its very best
- Give easy access
Pricing your home correctly involves several things. First, you need to have a good competitive market analysis(CMA)done. Your listing agent should provide you with a CMA that shows you what homes similar to yours have sold for in the past 9-12 months. In my opinion, a CMA should also include a list of the homes currently for sale that would be considered your competition. There is a big difference between what you think your home is worth, what you "need to get" to satisfy your financial obligations and what price you need to list at to get your home sold. As a seller, you need to be realistic about what the market will pay for your home. If you need to get a lot more than what the current market dictates your house will probably linger on the market for a very long time.
Presenting your home at its very best is more important than ever. As previously stated you have a lot of competition. Buyers do not have to accept homes that need routine repairs, are outdated or dirty. They can walk right out your door and move on to all those other homes that are currently for sale. If those other homes are cleaner, brighter, more welcoming and in better overall condition you have just lost the contest. In a nutshell, a seller needs to declutter, clean until everything sparkles and make those repairs you have been putting off. If you didn't have the time, money or inclination to fix that leaky faucet or strip that old wallpaper chances are the buyer doesn't either.
Simple renovations that can be done inexpensively can make a huge impact with sellers. A Homegain survey done in 2003 states that a simple bathroom upgrade of between $1,500 and $2,000 will give you a return of 138% and go a long way to improving the appeal of your home. Staging can really help give your home a step above the competition.
Easy access is extremely important. If a buyer can't get into your home how can they fall in love with it and decide to buy it. Rules like "no showings on Tuesday, Thursday and Friday" or "48 hours notice required" or "listing agent must accompany all showings" or "owner must be home to give access" make it difficult for potential buyers to see your home. There is a good chance your home will be skipped over if the buyer can't see it when it is convenient for them. It may sound silly to say but if you want to sell your home you have to let the buyers in!
To see our listings of homes for sale in Rhinebeck, NY follow this link and click on Featured Listings. To do a complete search of homes for sale in the Hudson Valley follow this link and click on MLS Search or click on the buttons below.
"My dream is to find the home of your dreams." Give me a call at (845)224-5238 and let's start the search together!