Idaho Real Estate Monthly Newsletter
What can I do to help my home sell?
Much has been written about the state of the current real estate market with the effects of the sub-prime mortgage crisis and the Federal reserves recent aggressive action in an attempt to stimulate a very stagnant economy. Speaking of stimulation, most will soon be receiving their payment from the IRS, part of the Economic Stimulus Package the government endorsed in yet another attempt to help ease the effects of a weak economy and help those that are struggling to make their mortgage payments.
All this does not paint a pretty picture for homeowners looking to sell their home in this “Buyers Market” we are in. Believe it or not, homes are still selling in Boise Idaho and the surrounding Treasure Valley area of Idaho. I also have Realtor friends across the country and homes are still selling everywhere across the country.
Why is it that some homes sell and some don’t? First of all sellers must get past thinking that “their home is the best home on the block”! This may be true but in real estate markets where buyers have so much to choose from, sellers are not obtaining premium prices and we must accept this reality.
Over a year ago I gave a seller what I thought was a very good and competitive price for their home. The seller kept telling me “I didn’t take this or that into consideration”. In other words, I didn’t know what I was doing. The seller listed his home with another Realtor at a much higher price than the one I recommended. The home was never shown after 3 price reductions and the last price reduction was at a price lower than what I had recommended. The home has finally been taken off the market and never did sell.
In his pride, this seller missed the opportunity to obtain a “reasonable price” for his home. In other words he missed a fairly good market by being overpriced and the market became weaker and weaker as the months went by. A good Realtor with good market data can tell you as a seller where you need to be and how many months of competition is on the market. Sellers that listen to their Realtor instead of becoming defensive have a much better chance of selling than their competition.
Also, next time you drive home from work park across the street and look at your home. What is it that you see? Is it being hidden from view by shrubs and trees? Does your landscaping look sharp and orderly? What is the first thing you think of when you look at your home from this perspective?
You may like the way you live in your home but how we live in it and the way we have our furniture arranged is not necessarily appealing to the masses. In other words, your furniture may need to be re-arranged to make it flow better and appeal to the masses. Home Staging is more affordable than you think and it just may make the difference between attracting Realtors and buyers or sitting in your home with no one looking at it.
Yes, homes are stilling selling across the country. Make sure you take every step possible to see your home in the “Sold” column of your local MLS.
Just some thoughts to consider when putting your home up “For Sale”
George