The Law of Supply and Demand in Brevard NC Real Estate

The Law of Supply and Demand for Real Estate

Real Estate if in Brevard, Asheville,  no matter the property type such as residential, condos, town homes or raw land, all follow the cycle like other products in the US and World.  Supply and demand dictates pricing, with homes the days on market, and pricing. Every area naturally has it’s little quirks. But for Buyers, currently they have the advantage of being the drivers seat with little demand( number of available buyers looking)  and a plentiful supply of available homes. So for those selling and buying the houses that will sell have to have the WOW features to win out the competitors.

So what is the WOW features that buyers are saying about a property prior to and after a purchase. You will find below the top results in the bulleted points. In my many years of experience you will find the same square footage home, nearly the same neighborhood and the same asking price with the WOW features will win out. So where does your property fall in this list?

“The Seven “WOWS”

  • Exterior Curb Appeal:This often can be done very inexpensively with landscaping, painting doors and trim, pressure washing the exterior of the home and decks. Wood decks that are dried out need to be stained or sealed, and don’t forget the pickets and top rail.
  • Interior Curb Appeal: This comes down to the basics, does it smell good, are the interior colors neutral or so bright colored that the buyer knows a paint job is needed. Is the home clean and closets de-cluttered?
  • View: Being in the Western North Carolina mountains, a high majority of request we get are for mountain views. The longer the better. For saleability do you need to top a few trees, cut a few saplings down?
  • Location: Location-Location, we have all heard this all our lives. This often can be a challenge in the mountains, as some want a long range view but not willing to gain elevation to get it, or walk to town and yet still have privacy. Either way location of your property is critical no matter what type of buyer we are working with. Location is always a buyers choice and one a seller can’t do much about.
  • Setting:  Is your property within a clean neighborhood, or remote with good access, or are your driveways and roadway entrances full of potholes? First impressions are so critical and the driveway to the property and neighborhood will afford a higher offer than others in need of repair.
  • Value: Everyone today is looking for value. Either in square footage cost, acreage, privacy views, creeks, streams all play an important roll. Move in ready will always win over a home in desperate need of upgrading regardless of asking price. A buyer from my experience always estimates minor to major fix ups much higher than actual costs, so  just make sure the property “Sparkles”!
  • Lastly is Price:Supply and demand is the first dictator to helping price your property. The less competition the better as we all know, but this often is out of our control. Yet, I can assure you the homes that are selling all follow these seven points with aggressive pricing followed by motivation. Overpriced homes today are not being shown, buyers are smarter and often I have buyers email with the list of homes they want to see. Today buyers will often know more about the tax, aerial photo’s and property details from the Internet than most sellers will know. In short, price to sell without giving the property away. If your property has the  “Sparkle”, has curb appeal, location, setting, views or other natural features, of the property are good then you are likely to receive an offer faster and higher priced.

 So where does your house fall into these seven WOWS? A market analyses today is far more than just comparing houses, so make your house Sparkle and you will get a sale! For more tips and tricks give me a call today so we may discuss all your options: Jay 828-421-0375