Advice for Sellers in a Slow Real Estate Market
Expert Opinion Article Number: 100
By: Hal James

After years of the sellers being in control, the real estate market has swung like a pendulum in favor of buyers. Don’t worry. You can still sell a house if you follow these tips.

1) When selling your home, it is important to understand the difference between home values and prices. The value is something determined by the appraisal. The price is what you can get for it.

2) When you are selling your home, keep it clean and tidy ALL the time. Let it get out of hand and an otherwise serious buyer WILL show up. If you don't have time to clean, hire a cleaning service.

3) An attractive brochure can help you sell your home. A brochure that looks like a home featured in a magazine does the usual "memory jog" for people who have toured the house, but it also "adds value".

4) With the fluctuating home prices we are currently seeing, buyers can have problems getting financing regardless of their credit. Don't drop the buyer! Instead, offer him or her a second mortgage.

5) When it comes to selling your home, your driveway tells potential buyers a lot about your property.If it has cracks and nasty oil stains, it is a blight on your property. Make sure to clean it thoroughly and repair all cracks.

6) You're a seller who really needs or wants to sell your home within the next three months and the market is slow in your area. Getting enough people to come and look at your house is the secret to achieving your goal. Make price reductions until you do get 1 to 3 showings per week, and your home will sell.

7) Buyers aren't a dime a dozen but they are out there. Showing flexibility can make your property more attractive than the competition. Be willing to vacate quickly for a qualified buyer who wants it.

8) Most states require real estate contracts to be in writing to be enforceable. The buyer invests time and thought in the process of committing his offer to paper. When you receive his written offer, you know ALL the items the buyer is trying to "nibble" from you.

9) Whether buying or selling, you will want to take a close look at comparable homes in the neighborhood. Do not pay much attention to the listed prices. Homes do not sell for the listed price. Focus on the actual sales prices of recently sold homes.

10) When it comes to negotiating on the purchase or sale of real estate, it is important that you know what you want. Most people just have at it off the cuff and later realize they really didn’t do a good job. At the end of the day, the real estate market slows down and speeds up. It never comes to a stop. Put another way, you can always sell a home. You just need to pay attention to the details and now you can.

This article was posted by: Ed Wright and Central City Mortgage’s “Wright Team,” specializing in Residential and Commercial Mortgage Lending… Purchase and Refinance. Serving all of California from offices in the Inland Empire. For all your mortgage lending questions please call Ed Wright “Your Personal Mortgage Consultant For Life” at (909) 938-3777 or E-Mail “The Wright Team:” Ed@ForHomeLoan.info