It is hard to remain optimistic when you need to sell your home in today’s market. Most sellers I have spoken to during my listing appointments plan to sell their home because of a NEED to sell it rather than to make a profit on it (or ‘flip it’). In this market, there are only two factors that come to play, PRICE and CONDITION. Your home should be priced at or lower today’s market value AND should show well. A home that is priced well but turns off the buyer at first glimpse will not work; neither a home that shows like a model but is overpriced.
Even when both factors are considered, it doesn't hurt when your realtor does some innovating marketing. When the inventory is extremely high, you have got to show the home at its BEST. Good isn’t good enough right. Hire a professional photographer to take photos of the home and have colored flyers in the information box outside the home. A vacant home that has been cleaned and has passed a white glove inspection needs to be staged by a professional; A seller with a small home which is attractive to first time home buyers may have to give 3% seller concessions. Since many buyers are computer savvy, increased internet presence is mandatory rather than necessary. The more sites the home is exposed, the better. Go back to the basics. Impress a potential buyer through photos to get them to come to the house.
The interest rates are still low though underwriting has tightened ship. There are buyers out there! Yes! People are buying! Is it a surprise to you if I mentioned that residential sales in Central Texas on February 2008 is only 10% lower than last February? That isn’t so bad compared to the rest of the country.
If you are thinking about selling a home, your mindset has to change or the negativity will bring you down. Call a real estate agent that can give you the specifics; ask for statistics in your area; get the facts; ask for a comparable market analysis on your home! This way, you have an expectation, there will be no surprises. Hire a realtor that is willing to communicate to you on a regular basis about the market and the mortgage rates. Since when did “over” communication hurt anyone?
