Yes, you can still sell your home in a down market. Welcome to the toughest selling situation in years. Your neighbor just listed his home at a ridiculous price and “For Sale” signs are littering lawns all over town. The bright side of all of this is for those planning on staying in the area. As a buyer, you have plenty, of low priced inventory, from which to choose.
As a seller, you must be aggressive in your pricing and marketing of your home. You must be willing to spend a little money in cosmetic tuning of the exterior, do a little paint touch up if needed. Replace that old worn out front door with a new one, make sure that your landscaping stands out, and that the yard is well groomed and the grass is green. A few potted flower arrangements by your front entry are sure to catch a second look from buyers driving the neighborhoods.
Your home must be the best priced home in the neighborhood, if you want it to sell within a reasonable marketing time. The reality is that only 4-10% of all homes listed on the market sell in any given month. And many that are listed never sell without some extreme adjustments to price or condition.
There are three main reasons why a home doesn’t sell. They are: price, condition, and marketing, or any combination of these. A good Realtor can help you in the pricing of your home. I would suggest that your price be at least 1% below your competition. Your Realtor may make suggestions on condition.
You must stage your home like a professional. Staging is no longer an option, it is a must. It is like a boot camp that you and your Realtor will explore together. It can be hard on your emotions as you try to depersonalize the home so that buyers can envision themselves living there. Getting rid of the clutter and rearranging rooms to highlight the best features are essential to staging your home.
Do whatever it takes to make it look better than the house down the street. You will get it sold in a much shorter time, and perhaps at a higher price than you would without “setting the stage.”
“When you are kind to others, it not only changes you, it changes the world.” Harold Kushner, Rabbi and Author. Until next week keep smiling.