There are more homes on the market this year than last—36% more nationally and 34% more in Louisville, KY. This, my friends, is what’s known as a buyer’s market.
“But what about the sellers?” you ask.
Isn’t it obvious? Sellers need to get aggressive when marketing their properties so that their listings will stand out from the crowd.
Sometimes this means a price reduction. Sometimes it means increasing the buyer agent’s commission. Sometimes it means “offering a two-year lease on a BMW X3 SUV to the agent who finds a buyer.” Well, that’s what Courtney Tursi is doing to attract attention to her Detroit home.
Fortunately for us, Louisville sellers aren’t in dire straights like sellers in some of our country’s largest cities. But remember, step one is to lower expectations to a reasonable level. For most people, home appreciation won’t come close to approaching the double-digit levels of past years. And for people who’ve only been in their home a short period of time, selling it and moving on without incurring any debt should be considered a winning play.