Selling Your Home in a Down Market

There’s no doubt that some folks are finding it hard to sell their homes. The real estate boom before the crash had owners and real estate agents guessing and inflating the pricing of homes. Some owners even had scenarios of receiving multiple offers that exceeded the asking price of their homes.

Pricing – the Most Important Aspect of Selling Your Home

But now that we are in the post crash real estate market, owners and agents have to take a step back and a hard look at competitive pricing. Unfortunately for a lot of owners, this is going to result in a price that may be lower than what they expect, and perhaps even lower than what they originally paid for the home.

But you have to be realistic in pricing your own. Make sure your agent does the comparable pricing estimate on your home, both for sold properties and for properties currently offered on the market.

Making Your Home Prestine

Unfortunately, because the number of interested buyers is low, that means they have much more of a choice in which home to buy. So your home has to beat the others that they have seen.

What does this mean?

Basically, your property has to beat the neighbor’s house in every possible way, while still being in the same price range. So take the time to ensure the yard is perfect, that their aren’t any chipped paint spots on your home, that the inside is totally clean, perhaps even staged, and anything else that will remove any doubt from your prospects mind.

This doesn’t mean you have to go out and spend a fortunate completely making over your home, you just want your home to be more appealing than your neighbor’s home. A little extra time and money to make this happen will give you the advantage you need to sell your home quickly.

An Idea…

You may decide that now is not the right time for you to sell. You might find that it makes more sense for you to strap in to your current home for another 1-3 years, and allow this market some time to come back up.

Or, you may be able to buy into a new home, and rent your current home until the market improves…just an idea.

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