TIPS FOR HOME SELLERS

In a seller’s market, homes tend to sell quickly. When the market shifts to favor buyers, selling a home takes extra effort. Here are some ways to ensure that your home is attractive to potential buyers.

Price it right:
Setting the correct listing price is the most important step in the process of selling your home. Price a property too low, and it may sell quickly, but you’ll pocket less profit. Set too high a number, and you run the risk of pricing yourself out of your market.

Some sellers reason that they “can always lower the price,” but that can be a risky strategy. A property gets the greatest exposure in the first three to five weeks on the market, so it’s important to set the “right” price initially. When a price is set too high, the strongest prospective buyers won’t even consider the property because it is out of their price range. Buyers who are looking for homes in that price range will compare it to other homes that have been fairly priced and decide that they can get more for their money elsewhere.

Maintain it well:
Next to price, the condition of a home is the most important factor when it comes time to sell. The key phrase today is “move-in ready.” Most buyers don’t have the time, money or inclination to deal with a fixer-upper. Consider getting a pre-sale home inspection to identify problem areas. Go through the house and repair any obvious cosmetic defects that could deter a buyer. When buyers have lots of homes to select from, they’ll always choose a home that is structurally sound and well-maintained.

Spruce it up:
“You only get one chance to make a good first impression,” the old saying goes. This statement is especially true when selling your home. Prospective homebuyers make their buying decision within five seconds of walking through the door. To make sure their first impression is a favorable one, take the time to get your home into top shape. Get rid of odors, de-clutter the interior, put on a fresh coat of paint and arrange your furnishings to create open, welcoming spaces. Consider hiring a professional Home Stager to prepare your home for sale.

Be flexible:
If you are selling in a buyer’s market, you need to be adaptable. Buyers may ask for incentives, such as payment of discount points to lower the mortgage rate or payment of closing costs.

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Additional Links:

• Housing Market Tracker - Home Sales/Prices Review
• Housing Market Tracker - U.S./Global Subprime Review
• Housing Market Tracker - Commercial Real Estate Review
• Housing Market Tracker - Homebuilder Review