Trying to sell your Lexington home in a slow market is definitely frustrating. You may find that it takes longer to sell and you cannot get as much money as you could during a strong market. However, you can’t believe all the hype about a sluggish real estate market. Do the research and separate the facts from the fiction.
1. You won’t get a fair price. Your Lexington property will sell for whatever a buyer is willing to spend on it. A comparative market analysis shows you what other buyers spent on property like yours. Of course, if you bought your house when values were higher, you may have to take a loss. However, most people can get a fair price and even make a profit in a slow market. 2. Your real estate will stay on the market too long. While it’s true that real estate tends to take longer to sell during a slow market, it’s not impossible to sell them. People do still buy real estate in slower markets. If your real estate is priced right you can still sell it within a reasonable amount of time. 3. Buyers only want and short sales and foreclosures. The truth is that buyers want good deals, and this can be in the form of money or time. The price of a foreclosure or short sale may certainly be attractive, but they can take a considerable amount of time to close while the banks negotiate their terms. Paying slightly more for a traditional sale is sometimes well worth the time they can save. Selling your Lexington home in a slow market isn’t easy, but it can be done.