moving your home in a buyer's market
by: HalJames on Fri, 29 Feb 2008 at: 9:24 AM Go to: Previous Article Next Article
Whether you like it or not, the real estate market has ground to a slow trot. Selling a home can be difficult and requires you to return to the time-tested basics of selling a home. Here are some keys to remember and use.
1. Make your home available. It would probably help to just accept that your home is in the public domain from 9 A.M until 9 P.M. daily until it's sold.
2. It is important to remember that a home can only support the value of homes around it. When making home upgrades, make sure you do not spend more than you will recover when you sell it.
3. An attractive brochure can help you sell your home. A brochure that looks like a home featured in a magazine does the usual "memory jog" for people who have toured the house, but it also "adds value".
4. When selling your home, be realistic about your asking price. You can check public record at the courthouse, or in many cases on-line, for the amounts of recent sales in your neighborhood.
5. When it comes to selling your home, your driveway tells potential buyers a lot about your property.If it has cracks and nasty oil stains, it is a blight on your property. Make sure to clean it thoroughly and repair all cracks.
6. Many people try to sell real estate with an "as is" qualifier. The idea is this protects them from any claims the failed to disclose problems with the property. This assumption is incorrect. If you sell a home with problems, you must disclose them.
7. Buyers aren't a dime a dozen but they are out there. Showing flexibility can make your property more attractive than the competition. Be willing to vacate quickly for a qualified buyer who wants it.
8. If your home has been on the market for several months and has not sold, you can bet it is for one of 3 reasons. It is priced too high, it doesn't show well, or you haven't brought it to the attention of enough buyers.
9. The true price of a home is the market price. The market price is not the asking price, the appraised price and so on. It is what the seller and buyer agree it is. If you are selling, do not hamstring yourself with anything other than that.
10. Many people ask escrow officers for advice or help. Don't expect any! Escrow companies are supposed to be neutral third parties. They handle the paperwork, not negotiations or problems.
At the end of the day, the real estate market slows down and speeds up. It never comes to a stop. Put another way, you can always sell a home. You just need to pay attention to the details and now you can.
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