National home sales are at the lowest levels in more than a decade. Potential buyers are holding off purchases because they are worried about jobs and the economy. Many buyers have been scared away by the prospect that home prices could fall. Buyers are having trouble meeting tighter lending standards and can’t qualify for loans. As a result, buyers are taking their time making a home buying decision in a slow market.
It is important to be realistic about what is happening in the market, and there are numerous things that you can do as a seller to improve your chances of attracting a buyer. In today’s buyers market you must create value by having the best home at the best price. Everyone wants the absolute most that they can get for their money, and the majority of buyers want a home that is priced right, well maintained, and a home that doesn’t need a lot of updating. Knowing your competition will give you the best advantage.
Spend a weekend looking at similar properties to yours will help you be objective. Sellers have a hard time seeing the flaws in their own homes, so comparing your home to other homes on the market will be invaluable to you. It’s critical that you price the house at today’s market value.
Sellers are tempted to overprice their property in order to leave room for negotiations, anticipating that offers will come in low. A properly priced home will sell for a higher price and in fewer days in today’s market. Contact our Corporate office for a FREE Market Analysis of your home.
