California: Inland Empire: Real Estate & Mortgage : Refinance, Purchases, and Debt Consolidation

If you just put your house up for sale recently, don't start packing yet. Sad but true, the national averages indicate that homes are staying on the market for around 90 days. What worries me about that is most of the people selling right now don't have that much time. In fact, most sellers right now are down right DESPERATE!
The increasing numbers of foreclosures proves my point...Consistent double digit gains to put it all in perspective. SCARY!

OK, if you're still serious about selling your house, even after that...you better get to work. You've probably heard the numbers regarding housing inventory, so you know there's competition out there. If you've never been in sales, allow me to extend a little knowledge. With market conditions like these, you have to face the facts. Right now your home "comes a-dime-a-dozen". The only way you have a chance to sell is if you meet at least one of these two conditions:

1.) Your home is better than the 200 other comparable homes for sale in your city.

-0r-

2.) You're cheaper than they are.

In California, sellers are refusing to accept the fact that their home is grossly over valued. Elementary econ theory tells us:
when there is excess supply, prices must fall.

If you can meet at least one of the two conditions, you have a chance to sell it. I already know you want to avoid the 2nd condition, so let's get to work on the 1st. If you need major upgrades on your home......good luck! If it's just a little rough around the edges, you probably want to start polishing it up. A little paint here and there does wonders and isn't very expensive. Trust me, you will have the time to do it.