While selling your home right now may not be something that everyone just jumps at the chance to do. It may be in your best interest, if you want to take advantage of the great buying market thats out there.  While most sellers right now have become ‘realistic’ as to where the market is at, they still need to understand a few things.  Selling a home in a declining market starts with a proper attitude and finding the right agent who is optimistic and knows the right sales techniques in this tough market.  Its an unprecedented time we are in right now and it calls for creative aggressive agents.

1. The key to successful selling in a ‘declining market’ is pricing your home at today’s market value, having your home in tip-top condition and being able to work with a prospective buyer on financing needs and terms. Don’t let your ego or pride get in the way when determining a price for your home. And remember the buyers bank is going to need to appraise it at the agreed on purchase price.  These days appraisals can kill deals.  So be realistic.

2. Put your buyer hat on when you look at your own home.  Often times we are more critical of other peoples homes than we are of our own.  I tell my sellers “this is not your home any more, its an item for sale and we have to treat it objectively.” More easily said than done.  Take a leisurely walk through your home jotting 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 emotional appeal and does not cost too much. Put away the clutter throughout the home and organize your closets! 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. Don’t forget about the outside! Curb appeal to a new buyer is a very important and is many-times overlooked.

3. Finally, be patient. The real estate market has changed considerably since the last run-up where homes sold in hours or days. We are now experiencing a more “normal market” where homes take 90-120 days to sell. Remember, inventories are at an all-time high right now. Bank foreclosures are all around you and 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.

Contrary to popular belief, buyer are out there and they’re waiting to buy.  They’re the first time home buyers.  Once they start buying, it will be a ‘trickle up’ effect and will reach the upper price ranges.  If you’ve got a home that is perfect for a first time home buyer and your not sure if it could sell, give me a call. I’d love to give you my no obligation opinion of condition and price.  Take advantage of this buyers market.  You’ll be happy in 5 years that you did.