your home: how to sell in tough times
In order to catch the buyer, the price has to be greatly reduced.
Their starting price for February 2010 is $1. 149 million.
After five price cuts, the home was sold in November 2010 for $808,000. (MONEY Magazine)--
If you sell your house in the market, you may feel that you can\'t take a break.
The property bubble burst for nearly five years, when many experts thought the property market would stabilize at least and sales and prices were still falling in most parts of China.
Available in February-
Housing sales plummeted.
Up 6% from last month, and the median price of a single pen
According to the National Association of Realtors, household housing fell to $157,000 from $163,900 last year. (
Latest house price)
You can\'t expect things to get better soon.
According to the current sales speed, 8.
6 months clear 3.
5 million existing houses are listed today.
With the promotion of the recent home buyer tax credit, anyone who decides or is forced to sell a house will enter a market where the house usually lasts for a full six months ---even a year --
Blame part of the blame for fierce competition: foreclosure and short selling, which accounted for 39% of sales in February, were about 15% lower than traditional homes.
\"It\'s terrible for sellers,\" said US Senator Patrick Newport. S.
Economists at IHS Global Insight, a forecasting firm.
Fortunately, there is a good news.
Bottom hunters also know that house prices are down about 32% from their peak.
In a recent CNNMoney survey, three
Quarters says it\'s a good time to buy a house.
However, some extreme measures may be needed to translate this interest into actual sales.
It\'s not enough to show buyers that your house is a deal: You have to convince them that it\'s a complete theft.
This means cutting your prices, getting professionals to beautify it and creating a killer website for your home.
Here\'s how to do it right.
Sellers are still reluctant to accept the impact of bankruptcy on their family values, Tara said
Nicholle Nelson is a consumer educator at the real estate site Trulia. com.
Many also succumb to the temptation to put property above fair market value to see what happens. Big mistake.
Trulia said sellers in the last year or so were initially too high to market and were forced to lower prices. com.
Even in cities like Charlotte that perform well, 25% of sellers will cut prices at least once, usually twice.
If your house is not sold, can you reduce the price at any time? Bigger mistake.
\"The first 30 days in the market are the most important,\" said Norwalk, Connecticut . \".
Real estate agent Elizabeth Kamal
When your place attracts the most attention and gets the most display.
The result: Kamar says that if you price it right in the first place, your end income tends to be less than you think.
So come out of the gate right away.
Weaken your competition
Under normal circumstances, listing similar properties in your area will give you a good idea of what your home might sell.
Today, there is a big gap between what sellers want and what buyers are willing to pay.
Instead, figure out what you can get by asking your realtor to show you what has been sold in the last three to six months like your house.
If more than a few similar properties are foreclosed or short sold, please take a closer look at the photos and descriptions of these former listings.
If the house in question is moving, it should be included in your company
Paul Bell, a real estate agent at Las Vegas, said it is in good condition.
N Rockaway says list your house below as soon as you know something about your possible selling price. J.
Agent Alan Klein.
You don\'t have to lower the price in order to attract attention, as this price may still be around 10% or 15% lower than the price of other houses.
Even if you compete with many foreclosure and short sellers, your price should generate enough interest to attract more than one bidder to push the final price up to where it should be.
When it was Dorchester
In January, real estate agent Julie Simmons wanted to sell her house and she listed it for $460,000, $5,000 to $10,000 less than she thought.
\"I know I have to get people\'s attention,\" she said . \"
Even in the cold winter, she received four offers in less than two weeks ---
It sold for $465,000.
Take out the axe.
Not bitten within 30 days?
Make a big move.
\"When the property is located, people are starting to think it has to be listed too high,\" Klein said . \".
To stimulate interest, make a huge cut-
Up to 10% of the asking price, even more so in areas where prices are still falling.
This should be enough to guarantee the second observation of the buyer who passed the first time and bring in a new potential group that they are looking for within the lower price range.
Last year, Montclair, NY. J.
Peter and Lauren Meyer, the empty nesters, decided to scale them down.
The bedroom of the apartment in the same town.
They put the house on the market for $1.
1 million, more than their Realtors suggested.
After six months and four cuts, they pulled out of the market for $889,000.
\"At this point, we try to lower the price further, but we are ready to move on,\" Peter said . \".
The couple redecorated their house for $799,000 and sold it for $808,000. Play hardball.
Low rejection is OK.
The ball will be provided if the buyer does not give in.
But Mabel Guzman, chairman of the Chicago Association of Realtors, said that if buyers were willing to negotiate, they would start to bargain, putting aside the feeling of anger or insult.
Ideally, you can negotiate within an acceptable offer of $10,000 to $20,000.
Guzman said then, \"it can be easier to reach an agreement by using incentives as carrots and sticks . \".
For example, if your buyer refuses to buy, you may voluntarily abandon the appliance.
Or maybe you \'d rather cut the price but have the buyer agree that it will take 60 days for you to move out instead of 30 days.
There are people who want to sell, and there are people who want to sell.
The latter includes Kathy and Rex Roberts.
Headquartered in West Hartford, Connecticut, USA.
The couple, with two children, has lived in different cities since the beginning of December, when IT auditor Rex started a new job in Silver Spring, Maryland.
After a layoff
They built three firmly in the same month.
Despite the two price cuts, there has been no offer for bedroom 1956 colonial (
From the rent of Rex\'s new house and the book cost of the house, they are paying the budget-
$4,000 per month.
\"We need to sell, but we don\'t want to cut prices again,\" Rex said.
\"So they tried something new during the parade: a professional family show.
Staging, more and more popular with homeowners trying to sell mid
The range ranges from simply rearranging existing furniture to repainting, replacing fixtures and introducing new furniture.
Goal: highlight the best features of the house while making it as easy as possible for buyers to imagine themselves living there.
Senior real estate agents interviewed by MONEY said that proper staging can speed up sales and often increase prices.
The key is to do it well.
Start with an open mind.
Staging requires many homeowners to discover challenging psychological shifts: thinking that your house is not your home but a home.
This means washing away the evidence that you live there.
Your goal: the warm and objective look of the Pottery Barn catalogue.
Find the right stage. The ASP (
Recognized stage professionals)
The designation is a plus sign-
This shows that the stage designers have received some basic training. -
But this is not important.
Get the name from the Association of Realtors or realtors.
Com, then review stager\'s online portfolioand-after photos.
Next, call the homeowner\'s reference to ask how quickly their house is sold after staging, and if they think the work is helpful.
Make a budget and ask the stage designer to work within the budget.
Stagers typically charge between $150 and $400 to walk in your home and advise each room.
You can then execute the plan yourself, or hire a stage designer to charge an hourly fee, usually around $100, plus the cost of any new paint or furniture.
If you make a big change, the cost will increase. -
But Mary D said: \"I can often make huge changes using what homeowners already have . \"
Brooks is a stage designer and real estate agent from Brakenridge, Colorado.
See if your realtor will pay for it.
If you have a 6% commission, you have a lot of negotiating power.
\"I\'m happy to pay the installment because I know it works,\" said Paul aspilin, a real estate agent in Victoria, Minnesota.
As for Robert, after getting advice from stage owner Kara Woods in Danbury, Connecticut.
They painted their lavender restaurant in soft gray and removed the excess furniture;
A professional stylist redecorated the living room (see above).
\"It looks bigger and more modern, which is incredible,\" Kathy said . \".
These days, it needs more than just the sign for sale in the front yard and multiple-
List services to bring potential buyers in.
This means expressing the word in a creative way. -
Find a real estate agent willing to do so.
\"The more eyeballs listed, the better,\" said Katie Curnutte of Zillow, a real estate information site . \". com.
To do this, you need a multi-faceted marketing plan.
Create a great website.
According to the National Association of Realtors, about 90% of buyers are searching the Internet.
According to Zillow, make sure there are more than a dozen or two online photos in your home: 20 instead of five photos are almost twice as many as your clicks. com.
For more ways to get potential buyers to click on your site, see the right side bar.
Throw the money to them.
Matt Brown, director of business development at ForSaleByOwner, said incentives can increase the interest of buyers like price cuts. com.
In fact, many buyers will agree to higher prices if their upfront costs are reduced because they are often short of money.
If you can afford it, offer to pay for the buyer\'s closure or pay for the first year\'s property tax, apartment or homeowner association dues.
However, these freebies may actually be standard, especially in areas filled with bad properties.
Real estate agent Guzman says that in this case you may be able to put in an unusual bonus like a $1,000 gift card (
Also throw one for the buyer\'s agent);
The attribution of love they mention, such as a pool table or a plasma TV;
Or use a $5,000 credit at home as they wish. (
If you can turn things around, you can even pay points in advance so they can get a lower mortgage rate. )
Please note, however, that when the offer is agreed, you must disclose any such gifts or payments, which some lenders will not approve.
If so, you may have to find another incentive that the bank does not object.
Show Super conditions.
Yes, some buyers are looking for a rough form of foreclosure that can buy a song.
However, as many shoppers don\'t want ---
Or don\'t know how--
Into the sweat.
So ask an inspector to identify every issue in the family, even seemingly minor issues such as drip taps, and fix them.
\"If a shop is not working, why make the buyer want to know what else is broken?
Asked Beth Foley, Mich\'s Dutch agent.
Tell your realtor to give an inspection report and your repair list to anyone traveling to your home.
Spread the word online.
List your home on major websites like realtors.
Com is not enough.
Ask your realtor if you will get the \"enhancement\" list on the website where your house will get the highest promo bill.
Many realtors will create a website for your home.
You also want to get your list on other sites such as Craigslist and even Facebook.
At 2009, when Karen Mauro took her small, historic two-
Bedroom in Orange County, California
She thinks it will be a tough sale.
Real estate agent Lisa Blanc listed the property for $467,500, not only listing through MLS, but also posting an update on her Facebook page.
A Facebook friend of Blanco passed the information to someone she knew who was looking for the house.
Within a week, Mauro received a $460,000 offer. Stay away --far away.
At a better time, you may not feel like giving up everything in order to accommodate the schedule of potential buyers.
Summer Greene said today buyers will skip if they can\'t check in on time. He manages real estate agents in the Fort Lauderdale area.
So, please be ready to show a very clean home when notified. And disappear (
With your dog if possible)
All display and open houses so potential customers can imagine themselves in your house ---
It\'s an impossible task when your family is sitting on the couch.
When Betty McCoy started showing off her Prairie Village,, three-
Cape Cod bedroom
For example, she kept a must-have listdo chores --
It includes emptying the trash, filling the dishwasher, making the bed, and walking out every morning with spotless places.
She hid in a local shopping mall on weekends.
\"Every time I want to go home, there will be a new person who wants to see the house,\" McCoy recalls . \".
But spending a few more hours in the mall pays off.
A few days later, McCormick offered a quote for her home ---
For the full listing price.
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