It seems like everyone is talking about the housing market these days. It's not just because we're all trying to figure out what this whole 'recovery' thing means for us, but it's also because of how quickly things are changing. Home prices in some areas have risen as much as 30% over the last year! There are enormous consequences for home buyers and home sellers. Many people wonder if now is the right time to buy or sell. What price to pay or ask. Should you wait? What will happen next? So let me take a minute and explain the most crucial concept for those who want to move (sellers) or those who want to buy (buyers).
WHAT IS YOUR SWEET SPOT
For the buyer, your sweet spot is the price your love for the home motivates you to spend to own the house, where price, condition, location, features, and amenities all intersect and produce an emotional connection to the home. This spot is where you want to live, and what you want to own. It’s the launching point for your future best self. First, however, to avoid making a catastrophic mistake, you’ll need to understand your short-term and long-term housing goals. Then, you need a plan and system to follow to keep your emotions in check and make intelligent decisions that align with your long-term goals.
For the seller, the sweet spot is where the money you will get from a sale is more valuable than retaining ownership of the home. To extract peak market value for your home, you’ll need to understand the buyer’s sweet spot and how that is determined. In addition to peak value, you’ll also benefit from fewer contract contingencies and more favorable contract terms. Like the buyer, you will need a plan and system to follow that aligns your home with the buyer’s goals.
Buyer Sweet Spot System
The most effective way to find a home you will love at first sight and align with your long-term goals is to adhere to the following system, which has five steps. The five steps are Plan, Search, Collaborate, Analyze, and Offer.
Seller Sweet Spot System
As a seller, you will want to build your plan on top of your target buyer’s sweet spot. The five steps to your system are Plan, Price, Present, Promote, and Pitch.
Whether you are a buyer, seller, or both, the decisions you make along the way will greatly impact your financial and personal life. We will explore each step in following posts. In the meantime, if you’d like to schedule a consultation, please send me an email, or call me at 703-499-4240.