With Spring Break winding down, we are now moving into the prime real estate season. Spring can be an exciting time for homeowners ready to sell. But not so much in recent years if your home has lingered on the market through multiple Spring selling seasons.
Years of listings, open houses and showings without offers are weighing on many homeowners this year as the nation's housing market tries to recover from the Great Recession's housing slump, credit crunch and high unemployment. The traditional real estate cry of "location, location, location!" has given way to "price, price, price!"
With new foreclosures and mortgage short sales still streaming into the market, buyers have a lot of bargain listings to shop through. That can mean some tough conversations between agents and homeowners about how much they can realistically expect to get from their homes - and whether they need to reduce their asking price. Often, this can mean listing homes at or below what the owners paid for them.
The best strategy to capture Spring's increased homebuyer traffic is to price aggressively and have your home in the best of shape. Spruce up landscaping, update exterior lighting, paint or replace front door. Likewise, declutter and freshen up the interior. Look at online pictures of similar homes, and take negative feedback from previous showings seriously, but not personally.
The key is to be realistic - there is a price at which all things will sell!