Staten Island Home Sellers Competing against Foreclosed Homes and Short Sales
Home sellers are finding that they are competing with discounted prices offered by foreclosed properties and short sales in their local area. To help home sellers attract buyers and compete against the discounted prices offered by distressed properties, I offer the following advise.
Price the Home Correctly: Home sellers need to price their home according to today's market and not based on the high price that a neighbor might have received some time ago. Using a combination of an online appraisal and a licensed full time Realtor will help today's seller price the home accurately based on recent sales activity.
Market the Home More Effectively: Home sellers have access to more marketing channels than distressed properties, since not all distressed properties are found on the Multiple Listing Service (MLS), or by popular websites like Realtor.com. Home sellers, when utilizing the services of a professional Realtor, can market their properties with these resources to reach a larger audience of buyers than financially distressed homes.
Keep the Home in Top Condition: Foreclosed homes are typically in disrepair and are in need of some repair after having been left vacant. It can easily cost a new owner tens of thousands of dollars and months of work to get the home back in shape. A home seller should keep the home in top condition.The house, as well as all closets, should be kept clean and free of clutter to create the appearance of a more spacious home. Home sellers can make their home stand out by doing things like landscaping the front yard to improve curb appeal, replacing worn-out carpets and old appliances, applying new paint in key interior rooms, and tackling other minor home improvement projects.
Offer a Quick Closing: An advantage of being a conventional home seller is being able to offer a quick closing, an advantage for buyers who wish to move quickly these days to make it on time for the federal tax credit. Distressed properties can take many months to reach a closing date. Home sellers should be prepared to offer a 30-day closing date to attract buyers who want to move quickly.
Qualify Interested Buyers: Nothing is more discouraging than spending weeks with a prospective buyer, only to learn that he or she is unable to obtain a mortgage. To avoid such situations, make sure that your buyer is pre-approved for the loan amount necessary to finance the purchase of your home. As your Realtor, it will be my job to make sure they are qualified.
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