Here are just two major suggestions that can go a long way to helping home sellers reduce the days that their homes remain on the market.
(1) Price your home to sell, not sit.
In mid-December, I listed a home in Rivers End (Okatie). Rivers End is a small subdivision outside of Bluffton in Okatie, where there are about 200 homes. There is new construction north and south--5-7 miles from this home-- at price points that compete with anything in River's End. All along route 170 new construction abounds. Builders are giving all kinds of incentives. This is tough competition for resales.
This is what home sellers in Okatie and Bluffton are up against. Add to that, the fact that this month there are over 119 foreclosures in Beaufort County, South Carolina. That spells more competition for Buyer dollars.
In this particular subdivision, there hasn't been a sale in over 6 months. There are 6 homes for sale currently on our MLS and 3 or so listed on the Beaufort MLS. There are also three or more FSBO's--one has been on the market for over a year. These homes have been hanging around for one major reason. They are priced above market. In this market, home sellers will not get as much as they think. A Realtor must be a "broker of reality", and give home sellers the truth.
Home Sellers have to get real and be willing to price their homes at market, not at what they want. In addition, in today's environment, the selling prices of what sold 6 months ago doesn't mean as much as the asking prices of competing homes, now--since asking and selling prices continue to be under pressure. The discount off of asking prices is running about 6%.
(2) Make your home appealing inside and out: Paint it.
I cannot believe that some home sellers won't lift a finger and go buy a can of paint to brighten the inside and outside of their homes.
Paint is the lowest cost solution for making a home more appealing. If sellers do nothing else, this is one thing they should consider. Paint. It is amazing what a little paint can do. If you do just this, it will go a long way to helping buyers to buy.
Days on the Market: 40
The main reason our home sold quickly was because our pricing gave buyers a reason to look. Yes, it is a lovely home. Yes, we put our marketing plan into action, but buyers shop by what first? Price. We got an offer on this home before the ink was dry on the listing agreement. However, The buyer's financing fell through. After that, we got 2 calls on our sign, and just two showings and received another offer on January 17 and will close on February 17. Total days on the market from listing to this second contract was about 40 days.
Price it right. Paint it. Do those two things and maybe you won't need to watch all of those How to sell your home TV Shows.
If you have a home to sell in Bluffton or Okatie, call me for a no-obligation, free home selling consultation. If you have missed a mortage payment or two or are in danger of foreclosure, don't delay, we offer loan modification, pre-foreclosure, short sale assistance and offer free information on this subject.
Call me for a no-obligation, free consultation.
My cell number is: 843-368-9146.
