Getting Ready to Sell in Today's Buyer's Market?

Submitted by Vicki Owens, ABR, CRS, GRI, Andy & Associates, Realtors Marysville

Here it is, another holiday season. If your home is or has been on the market this year without an offer, you are not alone. So what does it take to win over that buyer in today's challenging market?

· See Your Home from the Buyer's Eyes by asking yourself one of the toughest questions that you can. If you were on the market to buy, what would you pay for the home today? Forget your memories there and the money you've spent to maintain or update. What would you honestly pay? Look at it as your product to market, not your home.

· Do Your Homework by looking at what homes comparable to yours, in your neighborhood or vicinity and what they have sold for in the last 90 days. Not last year, not the last appraisal, but what buyers are truly spending now for a home reasonably comparable to yours. (And yes, bank, corporate owned and short sales DO make a difference on where yours will be priced to win)

· Make It Sparkle by doing the hard things that no one wants to do. Wash the windows, pull the weeds, clean the basement, get rid of the clutter and junk. Buyers want a home that they can move right into. You may have to remove the wallpaper, paint, clean carpets, and store away some of your furniture. It needs to show like a model home that the owners have taken great care of.

· Get Quotes if your home needs repair. Take a good look at the roof. If it needs replaced, call a roofer and get a quote. If it needs windows, carpet or flooring, get a quote. Have in writing and face what needs to be done head on.

· Know Your Competition by looking at what is currently out there on the market that buyers will be touring when they come to see yours. Look at how long those homes have been on the market and keep in mind that you want yours to be the one they pick to offer on.

· Face Reality On the State of the Market and know that the prices have declined by as much as 20% in the last 3 years. If you purchased your home in 2004 or 2005, you may have paid more then than the market will bare today. You may only be able to get what you paid for the home or even less. If you have little equity and are not in a position to sell now you may want to wait longer with plans to move on if you can. Pricing your home too high by just a few thousand in this market can lead to disappointment. In fact, if you are ready to move fast, you may want to price a few thousand lower than your competition and showcase your home beautifully. Again, what would you buy??

· Call Some Professionals, have the home inspected by a home inspector for condition, termites or gas leaks. Call an appraiser to have the home appraised at today's fair market value. An appraisal by a qualified home appraiser who does work for the banks should be able to provide an unbiased assessment of your home's value. The appraisal you had done for a refinance or second mortgage a few years ago is not one that would be accurate for resale of your home and is only good for up to maybe 180 days.

· Talk to Several Agents to see what their strategies, track record and experience has been in servicing your area. Find agents that know the area, have experience with today's market, know the pricing, market aggressively and are currently selling homes.

Regardless of the peppered opinions of the press, the American Dream is still alive and being a homeowner is still desirable. Yes, many potential home buyers have been on the fence for quite awhile waiting to see what is happening with the market. They fear paying too much for a home, or worse, facing foreclosure. There are still many able folks out there who want to be the owner of a home but have been jaded by the media.

Keep the faith that this will change. Home prices are low and so are interest rates and they will find when they start their research that this is a great time to be buying. Homes are still selling, banks ARE still lending and buyers are buying, just at a slower pace. Patience is a virtue, but your home can be positioned correctly to sell and win in today's market. Your commitment to be a winner is essential to captivate the right buyer, unfortunately, that may mean some sacrifice for you to succeed in this market.

Vicki Owens is a top selling, full time real estate agent with advanced education, successful track record in our local market that comes highly recommended by clients. For a positioning analysis of your home call her at 937-644-3385. For more information, visit her website at www.movetomarysville.com Listed before and considering trying again? See www.listitagain.com

Copyright 2008, Andy & Associates, Realtors