Selling Strategies in Today's Competitive Housing Market - KTVN Channel 2 - Reno Tahoe Sparks News, Weather, Video

Selling Strategies in Today's Competitive Housing Market

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It's a seller’s housing market and deciding how to sell your home matters. Here are some strategies if you plan on selling your home. 

There are several "cash for homes" investors in the region and Ryan Frey with We Buy Houses ASAP is one of the busiest. 

“A lot of people need to move quickly so we can close in as little as 7 days,” said Frey. 

Many of his clients have homes with eye-sores in need of serious repairs or they're in distressed financial situations. Some just want to bypass the lengthy selling process. Bottom line here is quick cash comes at a price.

“Most cash buyers want a discount and rightfully so because they are putting their money on the line,” said Peter Moritz, Realtor with RE/MAX Realty Affiliates.

A study by RealtyTrac found that cash buyers on average paid 23 percent less per square foot than other home buyers. Moritz agrees that it's is a good option when repairs might put you in over your head. 

“There's a place for cash buyers to buy homes that need some structural work or other issues that might devalue the property.”

To get top dollar, the more traditional route using an experienced agent is the way to go especially because pricing means everything. 

“If it's [the price] too high, it scares away buyers, if it's too low, it becomes a loss leader and people think something must be wrong with the home.”

Selling your home yourself is also an option too, but according to the National Association of Realtors, most "for sale by owner" homes get a 16 percent lower sales price. They speculate because buyers know that the seller is not paying the realtor's commission which is around 6 percent and expect a lower price. 

On Thursday, Channel 2 News will look into some ways buyers can strategize in this very competitive housing market. 

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