When a client first calls me to sell their home, the first question is, "can I really sell my house in today's market?" The answer is YES. People are still buying. Yes, they are looking for a bargain. The media has focused on how many great deals there are to be had due to all of the foreclosures in the market. Which is true, you can find a great deal on a foreclosure if you have time to wait and are willing to buy a house that needs work. Most of my buyers want to move within a month and are looking for a house that is move-in ready. A lot of buyers start out looking at foreclosures and then once they start looking at clean, staged, price right houses - they change their focus.
So, how to get your house seen by the buyers? Here are some great tips from relocation.com on selling your house. If you are in the market to sell your home, give me a call - Sue Jenkins 817-881-1210-cell/text or sue@soldteam.net.
Area.RISMEDIA, March 4, 2009-For home owners contemplating selling their homes in the current market, Relocation.com, a leading online consumer resource for moving services, offers several tips to help sellers maximize the final sale price, get the home sold quickly and move on to their new home. While many factors come into play with finding the right buyer at the right time, there are many things sellers can do to help put the odds in their favor.
"Despite the tough economic times, people who want to sell their homes don't have to wave a white flag in surrender. Relocation.com wants to help educate consumers about the selling process so that they can make smart decisions about moving to a new home," said Sharon (Ron) Asher, chairman and founder, Relocation.com. "With these sales strategies, consumers can get their homes sold and on to moving into their new residences."
Tips for Selling a Home in Today's Market
1. Do not overprice the home. Buyers today are looking for a bargain, and the seller in the end will likely have to bring the price down to meet market demands. The longer the home sits on the market, the stronger the negotiating position of the buyer.
2. Select Internet-friendly pricing. More than 80% of home buyers begin their real estate searches online. Most real estate sites filter the prices in $25,000 to $50,000 increments. So while a creative price of $555,777 may grab attention, buyers who set their search maximum filter at $550,000 will exclude it. Additionally, prices ending in 000 (such as $500,000) tend to sell at a larger discount than homes ending in 500 (such as $524,500).
3. List the home on a Friday. Most buyers are checking out new listings on Fridays so they can see what is new for the weekend.
4. Occupy or stage the home. Buyers appreciate a home that is well attended. A vacant home typically feels cold and empty, while one that is still occupied has a warm, cozy feel, attracting more buyers. However, keep the personalization minimal; having neutral decor and paint colors will make it easier for a buyer to visualize their own style in the home. If a seller moves to a new residence before selling the old residence, it is a good idea to have the home professionally staged as if someone still lives in it.
5. Monitor local foreclosures. Foreclosures are costing sellers money and have become very aggressive opponents in today's market. If the seller's neighborhood has a lot of foreclosures, wait until they are sold before listing the home, if at all possible. Most banks are extremely eager to sell, thus creating an underpriced competitor. If the seller cannot wait to list the home, it will need to be priced competitively with the foreclosures, which can dig significantly into the home's equity.
6. Keep the home neat and clean. With so many foreclosures on the market today, buyers are seeing homes at their worst. If the home is presented in the best possible way, it will attract more positive attention.
7. Keep records. Foreclosures do not come with any disclosures. Sellers who keep updated records, photos and permits handy for the buyer to review will make them feel much more confident about buying the home, giving the seller a competitive advantage over foreclosed properties in the neighborhood.
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