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As most owners of Montgomery real estate have realized by now, this is not the ideal time to try to sell a house. With a struggling economy and negative media surrounding the housing market, more and more homes are staying on the market for longer and longer as fewer buyers are out making offers. So what should you do if you are in a situation where you need to sell your home now? The Wall Street Journal offers the following tips that I hope you'll find helpful: 
1. DON'T WAIT AROUND. Even in the better housing areas, it's taking a long time to sell houses; so, don't try to sit out the market. That's what hundreds of other timid sellers are doing, each of them hoping -- somehow, some way -- that hanging on the sidelines will improve prices and, ultimately improve the chances of a successful sale. It won't. If you want your place sold, the best way to make sure that happens is to put it up for sale.
2. FIX IT UP AND CLEAN IT UP. Buyers are taking your house out on a date. It has to make a good impression. You don't have to (and shouldn't!) spend a lot of money, but ensure everything is in good working order. As you get closer to the date that the house is actually on the market, start moving out by decluttering - buyers don't want to see a house filled to the rafters with other people's things.
3. PRICE IT CHEAPLY. Don't fight the market by trying to price your house at bubble-era levels or by factoring in all those improvements you made. In today's market, your best bet is to set a realistic, salable price on day one. Don't let the house hang around on the market as you gradually lower the price. Forget what you think the house should be worth or what it was worth three years ago. That's not what it's worth today.
4. HIRE A TOP REAL-ESTATE AGENT. Get the best listing agent you can find. When everything was selling before it even hit the market, of course, you didn't need the best. Sellers of higher-end properties may be able to negotiate a lower commission percentage, but this is no time to quibble over a couple of percentage points. Also, offer the agent a big bonus if he or she sells the house in 30 days or at your asking price. Offer other agents bonuses if they bring in the ultimate buyer.
5. PROMOTE. PROMOTE. PROMOTE. The agent should pay the usual marketing costs, but you should be prepared to pony up for extras, especially if you insist on more expensive or untraditional promotions. Make sure your house is on the leading real-estate Web sites; Trulia, Zillow, Cyberhomes, Eppraisal and Realtor.com are some of the top ones.
Beyond that, get really creative. Advertise in corporate newsletters and intranet listings. Check in with local relocation firms that help transferring corporate executives find new homes. List the house on eBay. Put it on Craigslist. Put it in your church bulletin.
6. PLAY THE BANKER. As bad as things are, there's one big factor in your favor: the tight credit market. If you have no mortgage you have to pay off, your strongest selling point might be your ability to finance all or a substantial part of a buyer's purchase.
You're a lot more flexible than a bank that has the Federal Reserve looking over its shoulders, so you might even be able to charge a higher interest rate than a commercial lender as well as command a higher sale price.
7. TAKE THE OFFER. If any qualified buyer comes in with a reasonable offer, be prepared to accept it. Negotiate, of course, but recognize that the buyer has a lot more clout than you do. Your house, as wonderful as you think it is, is worth only as much as someone is willing to pay for it.
If you are considering selling your Montgomery real estate, let my experience work for you! Please call me at 800-428-5239, visit HatTeam.com, or request a complimentary market valuation of your home.
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Capitol Realty Group L.L.C. is an independent real estate brokerage, committed to providing outstanding real estate service and value to our home and commercial buyer and seller clients. We are widely recognized as the preeminent residential and commercial real estate company in our capitol city of Montgomery, Alabama. We are proud to be known for developing quality working relationships with our clientele; relationships based on
respect, integrity, and trust.
Capitol Realty Group L.L.C. is equally proud to have developed beneficial relationships with residential and commercial lenders, home inspectors, contractors, and a wide range of housing professionals. We pride ourselves on building a solid foundation for your home or business to rest upon. Whether you are purchasing, selling, or both...we ensure that you have the support you need to make sound decisions and receive the best deal possible. We go the extra mile for you, because at Capitol Realty Group L.L.C. ...
When it comes to us, It's All About YOU!
The agents at Capitol Realty Group L.L.C. take the time to listen to your real estate needs as well as your dreams. We work tirelessly to facilitate your goals without compromise. Capitol Realty Group L.L.C. is committed to treating every client as if they are our #1 priority - because you are!
Whether you are buying a new home, selling that old house, or simply considering a move, we will be happy to speak with you and help you find the best way to meet your real estate needs.![]()
Proudly serving Montgomery, Auburn and the Central Alabama area with
over thirty years of combined real estate experience!
Capitol Realty Group L.L.C.
8197 DECKER LANE
Montgomery, Alabama 36117
Office (334) 215-8699
Fax (334) 215-8799
When You Want To Buy A Home In Montgomery Alabama :
Capitol Realty Group LLC is
The Preferred Choice!
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Existing-home sales rose from the first quarter in 13 states, largely from buyers responding to discounted home prices, according to the latest quarterly survey by the National Association of Realtors®. Nearly one-quarter of metropolitan areas showed rising home prices in the second quarter from a year ago, with greatly mixed conditions continuing around the country.
In the second quarter, 35 out of 150 metropolitan statistical areas1 showed gains in median existing single-family home prices from the second quarter of last year, while 115 had price declines. NAR's track of metro area home prices dates back to 1979. NAR President Richard Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif., said foreclosures are distorting the price data. "In many areas with large concentrations of foreclosure sales, homes are being purchased below replacement cost values," Gaylord said. "Many buyers with long-term expectations are getting exceptional value in the current market. Once the inventory is drawn down, price pressure will return because the costs of construction are rising - today's buyers are very well positioned to build wealth over time." National Association of Realtors®.
Let's take a look at the sales statistics for July 2008 to see how the Montgomery AL real estate market looks:
In Midtown Montgomery, pending sales decreased 18% in June 2008, compared against June 2007. Likewise, the number of sold listings dropped 21%. The average sales price decreased 9% to $131,446, and homes remained on the market for an average of 7 fewer days this June.
| Midtown Montgomery |
Pending Sales |
Sold Listings |
Average Market Times |
Average Sales Price |
| July 2008 | 38 | 37 | 104 | $142,820 |
| July 2007 | 72 | 56 | 133 | $149,412 |
Again, as Gaylord said and as these statistics show, real estate prices are declining in some areas, even within the same city For the latest Midtown Montgomery real estate market conditions in your area, please call me at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com.
Information is provided by the Montgomery Area Association of Realtors and is deemed accurate but not guaranteed.
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The Montgomery Real Estate Podcast
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Also read:
Montgomery Real Estate: Short Sale Tips
Montgomery AL Real Estate Podcast June 2008
Montgomery AL Real Estate Podcast May 2008
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