Our team at Professionals Mudgee Real Estate are often asked this question when speaking with people getting ready to sell their Mudgee house. Unfortunately, the answer is about as ‘black and white’ as “How long is a piece of string?”
When you’re preparing to sell, you will no doubt speak with Mudgee real estate agents to ask for an honest appraisal of your home. If done well, this will include a comparison of your home to others currently on the market, and those which have recently sold. The reason for this is to a) gain a better appreciation for what your house would be up against if it were to be put on the market, and b) understand the dollars comparable properties have been actually selling for – which may be different from the original asking price.
When describing the ‘buying’ process to sellers, it can be useful to use a pyramid analogy. If you imagine that the pyramid is full of buyers, the majority of buyers will be willing to pay the least amount of money possible. As the price goes up, fewer buyers will be interested. In the end, you will sell for what the single highest bidding buyer is willing to pay.
Typically a house will achieve its best price in the first 4 to 6 weeks of being available on the market. New properties are always more attractive to buyers; you are likely to get most internet hits and Open House inspections during this period. This means that from day 1, you need to ensure your house is priced realistically, and presented beautifully, all ready for a successful sale.
If you’re thinking of selling and have questions about the local Mudgee market, or would just like to have a chat about your options, please come and visit us at Professionals Mudgee Real Estate.