Selling your home in this market..

Selling Your Home In A Possible Declining Market?

The key to selling in a 'declining market' is pricing your home at today's market value, having your home in top condition and being able to work with a buyer on financing needs. Don't let your pride get in the way when determining a price for your home. Put yourself in the buyer's shoes and walk across the street. Curb appeal to a new buyer is a very important and is overlooked a lot.

Secondly, take a walk through your home writing down the little things you might do to spruce it up. New carpeting, a fresh coat of paint, new light fixtures, mirrors, etc., are items that will give your home more appeal and does not cost too much. Put away the clutter throughout the home. Rooms free of clutter will appear bigger and the new buyer can visually 'move into' your home much easier. Remember, new buyers are not buying your furniture. I always suggest renting a storage unit to get everything away from your home if you won't part with it.

Finally, be patient. The real estate market has changed since the last bidding wars where homes sold in hours or days. We are now experiencing a more "normal market" where homes take 90-120 days to sell. Inventories are at an all-time high right now. Many buyers will have difficulty qualifying for a new loan. Lenders also have very strict guidelines now and consumer confidence is very low. Allowing for a normal marketing period will do a lot to alleviate your impatience when you have few showings of your home or a lack of offers to review. And buyers are offering a lot less than asking price at the moment because they all want a "deal" so don't get offended if that happens.

A good Realtor will keep you aware of market changes, activity on your home and others in the neighborhood, while maintaining a "teamwork" concept that is needed for a successful sale. Properties need plenty of time to be exposed to the public and finding the right buyer requires a good understanding of the market as well as sales values. In all honesty, there are no easy answers but one thing is for certain, even in the worst markets, there are people selling homes. So be patient and listen to your Realtor when they give you advice. After all that is their job. They do it daily.