- Details
- Category: Market Updates Market Updates
- Published: 03 February 2008 03 February 2008
- Hits: 13123 13123
You may be a frustrated home owner who is wanting to sell & nothing seems to be happening!
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Is it just the market?
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Are there any buyers out there?
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Is it my agent?
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Are people even seeing my house?
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What's wrong with my home, why don't people like it?
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What can I do to get it sold?
The Five Reasons a Home will Sell or NOT Sell.....
1. Location 
Most people like to be situated either in the right school district to meet their needs, close to work, a particular neighborhood or someplace with a view. In most instances, people look for location first. You know what they say; "Location, Location, Location!" If your home is in a poor location or has questionable surroundings or neighborhood, any of the remaining four reasons may need extra attention. You may also want your Realtor to target market buyers who would want to live in your area!
2. Price 
Especially in our current market, PRICE can be THE most strategic reason a buyer will buy. As your agent, I will provide you (my seller) with comparable properties in both "Active" and "Sold" categories. It's best to be as high as possible when compared to the "SOLD" properties (to get the most money possible) however, price average or below when compared to the "ACTIVE" properties (your competition). Some sellers will say something like, "We can always come down..." However, in a competitive (buyer's) market, some buyers won't even look at a home that seems to be overpriced (above average). Listen to the advice of your agent when determining the pricing strategy of your home. It's important to PRICE your home ahead of the market, especially in a declining market. If you owe more on your home than what it is worth, ask your agent about a possible Short Sale!
3. Terms 
When it comes to financing, the home must meet certain standards and be able to qualify for BEING financed (not just the buyers need to be qualified). Most homes don't have an issue when meeting this criteria, but ask your agent if there are any concerns, especially when looking into FHA, VA or other Government backed loans. Some more creative financing may be desirable and help sell a home quicker and for a higher price in a slower market. When offering "Owner Carry" or "Lease Purchase" terms, you may attract more buyers and be able to sell quicker and at a premium price. Beware of the risks of these optional terms and seek the advice of your agent.
4. Condition 
OK.. This one seems so simple to me. When we sell a car, we typically will wash it, wax it, vacuum the inside, clean the tires and the chrome and make it "SHINE"! We need to do the same, or even more for our house when seeking a buyer. Staging is the big talk right now. It may help to hire a professional stager or designer to help you put your best foot forward. Buyer's usually like to see the home lived in, but they don't want to see the lifestyle that lives there. Keep things neutral and classy. Remember: Open spaces and clean surfaces are always best!
5. Marketing 
More than 87% of the public now searches the Internet first, when looking for a home. Print media is quickly being replaced by on-line advertising. It's important for your home to be found on-line, typically on your agent's web site or company web site. There are so many tools including video, virtual tours and multiple photos that attract buyers in today's market, than ever before! Make sure your home is getting all the attention it deserves...to be SOLD!
Most homes that take longer than the average market time to sell are due to either being over priced and/or under marketed. Proper Marketing is the Key! Don't miss out on the best marketing of Idaho Real Estate in the Boise real estate market!
For more detailed information, please view "6 Easy Steps in Selling Your Home"
What if I owe more on my mortgage than what I can sell my house for? Find out here: What is a Short Sale?
Call Don today for a FREE Market Analysis of your Home!
