Local Home Sales Continue to Fall
Both of our local papers report on our faltering real estate with these headlines:
Manatee Home Sales Drop, Prices Rise
http://www.bradenton.com/mld/bradenton/14429102.htm
Housing Market Struggles for Balance
http://heraldtribune.com/apps/pbcs.dll/article?AID=/20060426/BUSINESS/604260676
The Bradenton - Sarasota, Florida market led the state with a 45 percent decline in sales for the month of March. The median price of single family homes is still up 5 percent over March of 2005, but it is down 4 percent over the high of 2005.
Conclusion:
We have over a 7 month supply of homes for sale in Manatee County and prices seem to have pulled back a minimum of 5-11 percent. With a 548 percent increase in the number of homes for sale, it will take some time for this market to stabilize.
Stock brokers want you to believe the bubble is bursting and the housing market is in danger of collapsing. Some Realtors want you to believe this is a minor bump in the road and everything is hunky-dory. The truth is probably somewhere inbetween.
If you have a home for sale and no showings, the market is not supporting your price, you must lower it. If you have a few showings and no offers, the market is not supporting your price, you must lower it. After 10-12 showings you should have an offer.
We counsel our clients to be agressive. Here are 10 ideas to help get your home sold in a soft market.
1. Provide a free home warranty to your buyer. It's a nice perk.
2. Clean, Clean, Clean.
3. Add fresh paint and new carpeting. Eliminate all objections.
4. Consider offering a bonus to the agent who sells your home.
5. Lower your price. You absolutely must be the BEST value in the area. If you have few or no showings, you aren't in the running.
6. Offer to pay a few thousand dollars of the Buyer's closing costs.
7. Do you own a vacation home that you could give a free vacation stay to the buyer? One listing is offering a free big-screen TV.
8. Spruce up the landscaping and the entry to the home.
9. Raise the commission. Offer more money to Agents who show and sell your property. They have a lot of homes to show, be sure they pick yours.
10. Hire a Realtor who can provide perks to your buyer. We offer a free moving truck to your Buyer and a possible $2,000 toward closing costs if they work with our preferred lender.
Manatee Home Sales Drop, Prices Rise
http://www.bradenton.com/mld/bradenton/14429102.htm
Housing Market Struggles for Balance
http://heraldtribune.com/apps/pbcs.dll/article?AID=/20060426/BUSINESS/604260676
The Bradenton - Sarasota, Florida market led the state with a 45 percent decline in sales for the month of March. The median price of single family homes is still up 5 percent over March of 2005, but it is down 4 percent over the high of 2005.
Conclusion:
We have over a 7 month supply of homes for sale in Manatee County and prices seem to have pulled back a minimum of 5-11 percent. With a 548 percent increase in the number of homes for sale, it will take some time for this market to stabilize.
Stock brokers want you to believe the bubble is bursting and the housing market is in danger of collapsing. Some Realtors want you to believe this is a minor bump in the road and everything is hunky-dory. The truth is probably somewhere inbetween.
If you have a home for sale and no showings, the market is not supporting your price, you must lower it. If you have a few showings and no offers, the market is not supporting your price, you must lower it. After 10-12 showings you should have an offer.
We counsel our clients to be agressive. Here are 10 ideas to help get your home sold in a soft market.
1. Provide a free home warranty to your buyer. It's a nice perk.
2. Clean, Clean, Clean.
3. Add fresh paint and new carpeting. Eliminate all objections.
4. Consider offering a bonus to the agent who sells your home.
5. Lower your price. You absolutely must be the BEST value in the area. If you have few or no showings, you aren't in the running.
6. Offer to pay a few thousand dollars of the Buyer's closing costs.
7. Do you own a vacation home that you could give a free vacation stay to the buyer? One listing is offering a free big-screen TV.
8. Spruce up the landscaping and the entry to the home.
9. Raise the commission. Offer more money to Agents who show and sell your property. They have a lot of homes to show, be sure they pick yours.
10. Hire a Realtor who can provide perks to your buyer. We offer a free moving truck to your Buyer and a possible $2,000 toward closing costs if they work with our preferred lender.
posted by Dan Forbes at
7:43 AM
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