Inventory is up, and homes are sitting longer. Here are the three things Albuquerque sellers should do before listing to stay in the driver's seat.
If you're thinking about selling in Albuquerque, it helps to know what you're walking into. Properties are staying on the market a little longer than they were before, and our inventory has gone up across New Mexico.
The market has shifted, and in some ways it's starting to lean more toward buyers than it has in years. None of that means you can't sell well. It just means the plan matters more than it used to, and that's exactly what we want to walk you through.
The market has shifted, and sellers feel it first. What we're seeing right now is sellers offering concessions toward a buyer's closing costs or prepaid items, or helping buy down the buyer's rate. We're also seeing sellers come out of pocket for a few more repairs than they might have expected. That's the reality of where things are, and more sellers are offering these to close deals as the balance tips toward buyers.
Our whole approach is to educate you on all of this upfront, so you understand how the market moved, and you don't run into any surprises during or after your transaction.
Knowing what's going on with your home before a buyer does is what puts you in control of the sale.
1. Get a pre-listing inspection to stay in the driver's seat. The first thing we talk to our sellers about is getting a pre-listing inspection. We recently had the chance to sit down with one of our longtime vendors, Joe Lebron, with General Inspectors, who also does pre-listing inspections. Knowing what's going on with your home before a buyer does keeps you in control. It gives you the chance to understand the condition of the home and make repairs on your terms ahead of time, and it can save you time on the market once you list.
2. Price strategically for the market you're in. The second thing is pricing your home strategically for current market conditions. In a market that's moving, the right price on day one does a lot of the heavy lifting, and pricing to where things actually are, rather than where they were, is what keeps a listing from sitting. This is something we can absolutely help you sort out, and it starts with a real look at what your home could sell for.
3. Focus your updates where they add the most value. The third thing is understanding which updates and upgrades are actually worth doing. Not every improvement pays you back, so the goal is putting your energy and money into the ones that add the most value for a buyer in this market. We'd love to tour your home with you, give you an idea of what your home could sell for, and point you toward the changes that matter. We also keep a list of service providers we hand out to our clients, handymen, plumbers, and contractors, in case you're looking to take on those repairs.
If you have any questions, or you're just curious about what your home could sell for in today's Albuquerque market, we'd love the chance to talk it through. Give us a call at (505) 620-2549, email us at steven@nmhomedeals.com, or visit nmhomedeals.com. We look forward to helping you put a plan together.