Vantage Point for Vacancies
Often times in the housing market a vacant property is harder to sell. Buyers have an easier time envisioning the use of space when it is in use. This is why we often encourage sellers who have already vacated the property or investors who have flipped a property, to have it staged. After all, staged homes sell for close to 20% more than a vacant home. That said however, the housing market is in an unusual spot right now.
Brand new homes, homes that have been empty for the last few months due to construction the owners being forced to vacate or choosing to vacate early, are quick to sell. We suspect it’s because these homes see more traffic. Buyers feel slightly more comfortable touring a home that’s not been lived in since the start of the viral spread. So, if you’ve been thinking about unloading one of your investment or vacant properties, now may be the time.
In addition, we still haven’t seen the drop in pricing many expect to see given the fact that the housing market usually trends along the same curve as the economy. It’s truly a market where the seller has the advantage. Contact us if you’d like to know what your property is worth, we’ll conduct a complimentary market analysis as well as discuss the next steps.