Listing inventory seems to be on the rise in the Jackson MS Metro area, implying more sellers than buyers. Following are some suggestions sellers in a tough market might consider...
Struggling with a troubled housing market many homeowners will need to consider all their alternatives. Some have optioned to rent their homes or perhaps offer a lease purchase. Both are reasonable options and can help a seller whom might be looking to seek housing elsewhere when relocating, downsizing or upgrading. If needing to sell then short sales are popular to sell quickly in slow market conditions. Trading houses have even been a means to sell if you can find another seller willing to trade their home with you.
When inventory is high and market is slow sellers must also be sure to be as competitive as possible, starting with the asking price and finishing up with providing the best condition of the home.
It's not unheard of to include incentives being offered to the prospective buyers to encourage them to finalize the deal. New builders do this often with private pools, upgrades and more. I've even heard of sellers offering to pay for the first three months mortgages and HOA's fees, offer new appliances packages, vacations and more. Being creative can certainly work but is no guarantee. There certainly is a lot of homes with pools in Phoenix and paying for a pool service for the first six month might just make that buyer pick your home over the guy next door.
Sellers also might consider a home staging service. Home staging specialists will come into your home and help you make the necessary changes to make your home more appealing. Perhaps a color of paint, rearranging rooms or updating areas and freshen up a dark corner.
Having your listing agent visit other listed homes in the neighborhood or the area and see what your competition is and where improvements can be made. Seeking to be the best available listing is going to attract the buyers to your home. Avoid the top ten mistakes sellers make.
Being realistic with a the market and not over pricing is going to keep you from chasing the market. Chasing a market is the last position you are going to want find yourself in. Be aggressive and listen to the market, know what your home is worth, seek a realtors help. Ask your friend to walk your home, start from across the street and take notes from the curb to the back fence. Take heed, prepare your home for a successful selling experience. It can and will happen!
Can you think of other alternatives or creative ways to sell?