Sell your home in a competitive market
There are more homes on the market today than there were this time last year. And homes are now taking longer to sell. Prices seem to have leveled off.
So how do you compete in a market where many homes in the same price range offer some of the same features? It\’s not as difficult as it sounds. If you want to catch a fish, you must first think like a fish. If you want to sell a home, you must first think like a buyer. The first step is to evaluate the homes that you are competing against in your market area. How does your home compare with them? Do you have similar features and amenities? Which one would you choose if you were the buyer? Does your home have the features that a buyer would want? Researching the competition is very important. Many buyers are searching the Internet and using real estate professionals who set up parameters in a search program with the buyer\’s minimum requirements in a home. If a search is executed with a price range of $200,000 to $275,000 in a specific area, with a minimum of three bedrooms and two bathrooms, homes that have only 1.5 baths will not be seen in the search. If a buyer must have central air, then homes without central air will not be included in the search. If all of the competing homes have central air, and you do not, then your home will not be competitive within your market. In order to be more competitive, you may want to place your home within a price range where central air may not be an issue, or consider adding that feature. To beat the competition and have your home sold quickly, you will need to be the most attractive home to a buyer in terms of features and amenities. Pricing will also play a key role in securing a buyer. Today\’s real estate market is not bad. In fact, it is very good for a buyer. Interest rates are low, and the choices of homes have increased. Buyers should not miss the opportunity to own a home with a low interest rate. For a seller, the market may offer a few more challenges; however, it is still a great time to sell your home and buy another home. If you are interested in more information on how to sell your home in today\’s market, contact your local real estate professional.Wayne M. West, Realtor, associate broker for Patterson-Schwartz Real Estate
September 28, 2007
New home sales fall in August
Numbers hit lowest level since June 2000