Many people who have their homes for sale are not really sellers.. that is people who are motivated to sell. Many of todays sellers only want to sell if they get their price which may or may not be very realistic. Sellers are having a hard time accepting that the market has changed and the party is over. As these people either leave the market or get serious about selling prices appear to be falling more then they actually are. Homes priced on expectations not market value will not sell in today's market. If a home's value is $1,000,000 and it is listed at $1,500,000 then reduced to $1,100,000 it may appear as though the price has been drastically reduced when in reality it has not even reached the real market value.
If you really want to sell your home here are a few tips :
*Make Sure it Shows Well.. Clear out clutter, paint, put in new carpet or flooring. A few years ago you could get away with getting top dollar for a fixer. Today's buyer wants it in good shape or deeply discounted.
*Curb Appeal.. Re-plant flower beds, add pots of flowers, re-sod if necessary and paint the exterior. Most buyers make a large part of their home buying decision basedon the exterior of the property.
* Price It Right! That doesn't mean giving away the property but it does mean not overpricing. Zillow doesn't know your market so don't base your price on an online site that is getting money from someone other then you. Look carefully at the COMPS from your agent. A local agent knows the market and true market value.
* Marketing: Make sure your home is marketed in places other then the local papers. 75% of buyers start their search on the internet. You need to be there. If your agent is not marketing your property on the net you are losing access to a lot of potential buyers.
*Patience: Buyers are taking their time to purchase. Be ready to have your home on the market for 2-6 months. Entry level and premium priced A location homes sell quicker then those in the mid-level range.
Remember people are always buying and selling real estate. They get married or divorced, have babies or become empty nesters, retire or find new jobs. The market is always moving... it just moves to a different beat from time to time.
Kaye Thomas is a UCLA graduate and has been selling real estate in Manhattan Beach Ca since 1979. Kaye works with buyers and sellers and specializes in residential and small residential income property in the South Bay Beach Cities of Los Angeles county. For more information on buying or selling visit Kaye at www.KayeThomas4homes.com or www.Move2ManhattanBeach.com or read her BLOG at www.BeachCityRealEstateInfo.blogspot.com You can e-mail Kaye with questions at: kaye@kayethomas4homes.com
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