What's My Westhaven Home Worth? April 2016
- Properties active on the market: 49
- Single-family properties closed in April: 15
- Average sales price: $689,707
- Average list price: $691,421
- Sales price to list price ratio: 99.3%
- Average days on the market: 109
- Westhaven absorption rate: 3.3 months of inventory (a normal or steady market would be 5-7 months; anything under 5 months of inventory is considered a seller's market, above 7 months is considered a buyer's market).
Westhaven is experiencing a seller's market. Sixty-four percent of the home sales in April were due to new construction. While new construction is bolstering the existing home prices, sellers should be prepared to price their homes lower than new home inventory. New construction will be your primary competition.
The average days on the market are high due to new construction. Existing home sellers should expect their home to sell in the first 30 days. Homes that are heavily marketed online will have a better opportunity for a quick sale at top dollar.
There are three reasons why buyers will opt for existing homes over new construction:
- Location - They prefer a section of the neighborhood where homes may have a little more yard space and no construction traffic.
- Timing - It takes months to build a new home. Buyers who need immediate occupancy will turn to existing homes.
- Pricing - Existing home sellers are likely to be more negotiable on price than new home builders.
You want your pricing to remain competitive so buyers don't immediately rule out an existing home purchase when there are new homes available.
Wondering what your Westhaven home is worth? Just click the photo below and you will receive your home valuation instantly. No more forms to fill out and then wait for a response. You receive the report in seconds.
A recent National Association of REALTORS® survey revealed that 92% of buyers begin their home search on the internet. Properties heavily marketed here have a greater opportunity to be found by home buyers. This goes way beyond just syndicating your home from the MLS to portal websites.
Because so many buyers are beginning their search online, photography has become an important marketing tool in selling your Westhaven home. The best way to showcase your home is through the use of professional photography. While the majority of listing agents will use professional photography, what they do with these photos is equally as important.
We've seen an interesting trend lately from Westhaven sellers. They believe Westhaven Realty is the best choice in selling their home. Who do you think Westhaven Realty is going to direct buyers to? New construction or existing homes? The on-site agents work for the developer, Southern Land. Their first obligation is to get their new construction inventory under contract. Their marketing isn't going to extend beyond putting your home in the MLS. You deserve more than that.
The internet has become the first showing. Your home must be marketed here 24/7/365. Your listing photos should be used to attract buyers to your home. This goes beyond just putting them in the MLS or creating a fancy brochure that sits in your home until buyers view it. Marketing today must be proactive, not passive.
We blast photos of your home all over the internet; using the newest technology to get the word out about your Westhaven listing. This includes the use of social media and blogging; something not many agents in the Franklin housing market are doing.
You probably found this post because of our online dominance for the Westhaven neighborhood. We can do this same thing for you when marketing your home.
Here are a few things you'll see us do other agents don't. Franklin Homes Realty LLC creates a single-property website. This site is used in all our social media and blogging venues. It is optimized to be found in the search engines. For example,
this single-property website created for 403 Letitia Drive can still be found in the search engines, even though, that home sold last year.
Go ahead, Google 403 Letitia Drive, Franklin, you'll see it's still on page one of Google even though that house sold last year.
We began promoting 403 Letitia Drive before it was even listed in the MLS. It sold in just 16 days for 100.6% of list price. That's the type of marketing you want for your Westhaven home.
Given recent changes to the way our MLS sends out listing information to portal websites, it's important to have an agent who really understands how to aggressively market your home on the internet. Not all agents are created equal. You will find some agents have no internet presence at all. These agents hope their listings will be sold to local buyers. We give our sellers the opportunity to be found by a global market; buyers relocating to the Franklin area.
Buyers are searching for key features that your home may have. Our multiple listing service (MLS) has a limited amount of space to promote your property. It's hard to convey all the features your home has with 250 characters. That's right, 250 letters. That's not much longer than a tweet.
Using qualifiers like hardwood floors, granite counters and stainless steel appliances no longer attract buyers. They've come to expect these features in every Westhaven home. You want an agent who will emphasize features other than these. Maybe you have a beautiful brick patio with a gas firepit or a fantastic media room. If you don't have an agent who produces marketing to attract these buyers, your home may sell for less.
Blogging about your Westhaven home's features brings that information directly to buyers in search of a home just like yours; no matter where they are in the country. Many out-of-state buyers find us from our internet content about our listings and the Franklin area in general.
Not convinced Franklin Homes Realty LLC leads the pack in internet dominance for Franklin? Let me Google that for you. As you can see from the results, our website www.FranklinTNHomesforSaleOnline.com ranks in several places on the first page of Google. We are the only local real estate company to do that. The rest of the spots are taken by portal websites and national brokerages.
This placement isn't due to ads. The only way to rank in these spots is being recognized as an authority by Google in Franklin TN real estate. That is a very difficult thing to do for any brokerage, let alone, an independent brokerage like Franklin Homes Realty LLC.
Curious how we do this? When you get ready to sell your Westhaven home, contact Tammie White of Franklin Homes Realty LLC at (615) 495-0752. I'd be happy to share how we can do this for you.
Not ready to sell but wanting to keep informed about Westhaven home sales, click the link to sign up for monthly market reports.
Are you a buyer who has accidentally wandered onto this post? Click the photo to see Westhaven homes for sale.
Clipart courtesy freedigitalphotos.net.
About Tammie White, Franklin TN REALTOR®
Tammie White is a REALTOR® and Principal Broker/Owner of Franklin Homes Realty LLC in Franklin TN. Tammie works with relocation buyers looking to purchase a home in Franklin and the surrounding Williamson County area. She understands the way buyers search for homes making her an invaluable asset to Franklin home sellers. Her website, www.FranklinHomesRealty.com, has become the premier search tool for buyers moving to Franklin TN. She has been writing a real estate blog since 2009 and has been quoted in various publications including the LA Times, Skype.com, The Tennessean and Williamson Source.