Hopeful signs: To make listing move, price it right the first time

Call it cautious optimism, but don’t be surprised if you see some “For Sale” signs emerging from the snow banks. While many listings may have gone temporarily off the market during the deep freeze, the prospects for an active (if late) spring in 2014 are hopeful.


“The outlook for Midland is very favorable, both for residential and commercial activity,” said Associate Broker Bill Kuehne, of Century 21 Signature Realty in Midland.

In fact, he noted, “When you see increased activity in the commercial real estate market, it bodes well for residential.”

Company towns like Midland often see bumps in real estate activity around the time that annual employee bonuses are issued. Healthy employee bonuses, for example, combined with current interest rates, could fuel activity in the spring as renters look to become buyers and starter home owners look to trade up.

With Midland’s quirky mix of home styles and sizes often lining the same streets, there are few areas that won’t attract someone’s eye and budget. That said, neighborhoods in demand include the Broadhead subdivision, where new construction continues to sell quickly. Among the more established neighborhoods, the Scenic Drive area maintains its popularity with buyers.

In general, new homes tend to sell in the $200K to $300K range, and are popular with double-income-no-children buyers who aren’t interested in DIY bargains or sweat equity. Families may look to stretch their dollars to buy older, larger homes needing updating, if the location is favorable.

But don’t count on unloading your 1970s dream home, with its original decor, for a quick sale at top dollar. Overall, it’s still a buyer’s market, and sellers have to hit the necessary marks in making their listing competitive.

“Bigger lots are a draw,” said Linda Owen, associate broker for Ayre/Rhinehart in Midland. “But the condition of the home is the biggest factor in getting it sold. If the front door is ugly, paint it. Have all your lights on, the curtains open. De-clutter it; put things away and stage it. Sometimes, small changes can make a big impact; updating light fixtures, for example. People buy a home initially on emotion; that’s why there are model homes.”

For price, size and flow, a house that could attract some traffic would have 2,200 to 2,400 square feet, an open concept main floor plan and a large master bedroom. But it would still have to be priced correctly.

“As a seller, you need accurate pricing,” Kuehne noted. “We’ll do a Competitive Market Analysis to get your comparable listings, and to determine the things you need to improve, or need to consider doing, before listing.”

Commonly recommended improvements include updating kitchens and bathrooms, and freshening carpet. Floorings need to look good, too, Kuehne said, with broken tiles replaced, and no scratches on wooden floors.

Again, it comes back to price. Sometimes, Kuehne noted, you only get one shot at a buyer.

“Let’s say you’ve listed at $395K,” he said. “Even if you drop and drop the price, they may not come back once they’ve decided it’s overpriced, compared to others they’ve seen.”

With houses staying on the market for an average of four to six months, buyers can take their time and weigh their options in a way sellers can’t.

Even so, Bill Kuehne remains positive.

“Most houses will sell. It’s a question of setting the right price.”