Thank you for stopping by my Blog today. Are you thinking about your Raleigh real estate holdings in light of all the negative press the mortgage industry has been getting as of late? If so, you are not alone. At the root of it all seems to point to the fall of Fannie Mae and Freddie Mac.
There is an old Turkish proverb that applies. “No matter how long you are traveling down the wrong road, when you figure it out, turn around”. That is really some good advice. Or maybe we would say here in America that “Two wrongs don’t make a right”. At the bottom of it all – is bad accounting practices. And isn’t bad accounting just a more sophisticated verb for lying to the American people?
I do sell real estate so I will struggle not to get too political about it. Here is what I know for sure. “Let not your heart be troubled”, we’ve been through tougher times in the last 30 years, i.e. Recessions, RTC and the Savings and Loan woes, and gas lines. So we will come out just fine.
Here are my updated rules for selling your home in our current challenging market.
#1. If you don’t really have to sell – take your home off the market quickly
#2. If you do really have to sell – prepare yourself to deal with the market as it “is” not as you wish it would be.
#3. Understand that today’s home buyers respond to perceived and tangible value when they buy a home. Perceived value is as important as tangible value in today’s market. A great real estate agent can help create perceived value by property marketing, adding benefits and competitive pricing of the home.
#4. Anther rule is that when you are selling a home – “time is NOT a cure”. The “I will just wait it out until I get my price” attitude does not take into consideration that new homes come on the market everyday and many out price standing inventory homes by a wide margin. Do not put yourself in the position of running after the market. Cut to the chase and price your home at the market pulse. You should be getting an offer after approximately 12 showings.
#5. Strategic positioning is the art of placing a produce or commodity in the market place so that it is noticed and creates urgency and excites buyers. When selling your home, your initial market position may not be the best CMP Current Market position. Respond accordingly and quickly. Do not allow your home to become a dated listing.
These are 5 rules to help sell your home in today’s competitive. I hope you will give them your consideration and be ready for the next wave of home buyers. We are still selling on average 30 homes a month. Yes, it’s down from last year – but we are doing the right things to serve our sellers and buyer in today’s market.
I’d love to hear from you. Call or e-mail soon. God Bless. Marti