A client asked me a random question this morning, what criteria is being used to designate a home as a “Hot Home” suggesting that the home has a strong chance of selling in the next few days. My feeling is that the barometer that realtor estate agents use when touring and previewing homes has four elements: price, location, condition and buyer appeal. When all four of these elements get high marks by realtors, the home is most likely to sell within a week, sometimes with multiple offers. The condition and the price can always be changed, the location and the gut instinct you get when you walk in the door (referred to as buyer appeal) often are unique, so the combination of the four is what draws so many interested buyers to a particular property. If you walk in the door and just know you should live there, that would qualify as “hot” and when it’s not, it’s truly not. For more information about the current market, including advice for both buyers and sellers, visit my blog at www.liztalley.com
