It seems like a daunting task to many home owners toying with the idea of whether to sell their home now or to sit tight until they see improvement in the current real estate market.
As a Realtor® for over 14 years, this indeed is the most challenging time in our industry that I have seen. However, it is safe to say that homes are selling that are NOT foreclosed or distressed properties. But to be amongst the success stories instead of just reading about them, it takes planning, a dose of reality and commitment to the process.
During the first four months of 2009, 11,144 homes sold in the greater metro Atlanta area.
- Of the 11,144 homes sold, 6,060 of them were
foreclosed/corporate owned properties.
- Leaving 5,084 homes selling that were NOT among the
banked owned properties. How do you become one of them?
- Prepare your home inside and out. My recommendation
to homeowners is to pretend you are buying your house
all over again. As you walk through the house - and around
the outside of the house - using the eyes of a Buyer
(with a paper and pencil in hand), list every item that you
would notice and want repaired.
- FIX the items on your list BEFORE you list.
- Associate yourself with a reputable agent who is familiar
with your market area, who is a FULL TIME Realtor®,
and can provide you aggressive (out of the norm) marketing.
- Price your home competitively to compete with the foreclosed
properties. What you may loose on the sale, you should be
able to recapture when you purchase.
- Know the rules of the game: There are plenty of choices
available to the buyer. They are not "falling in love" with the
house they decide to make an offer on. Most are looking
for "the deal." You need to be willing to deal! What you "NEED"
out of your house doesn't factor into what a buyer is willing
- Most buyers are not countering multiple times as in previous
years. It is not uncommon for you (as the Seller) to get one
chance to make an offer work. If you can....make it work!
- The good news is buyers are being qualified more stringently
than in years past. The guidelines have really tightened up!
And, buyers are now required to invest "some skin in the game."
As a seller, you should be able to feel a bit more at ease that
you are dealing with a qualified buyer.
In the end, even with the challenges facing us today in the real estate market, the enticing interest rates and the decline of property values it is still a GREAT time to buy and SELL real estate.