Selling a Home is Not Easy Today
I just read this article today,
"NEW YORK -- April 19, 2006 -- Pete Montero first listed his Ann Arbor, Mich., home nearly a year ago at $379,000. The 2,600-square-foot home didn't attract buyers so Montero dropped the price in $10,000 increments -- he's now asking $329,900 -- and he's even considered remodeling the kitchen.
"We really didn't think any individual thing about the house would make it difficult to sell," said Montero, whose four-bedroom home has a finished basement and sits on a cul-de-sac to ensure privacy.
"Spring is typically the busiest time of the year for home sales. But with mortgage rates rising and sales slowing, sellers find they have to work harder to get a sale.
"In February, there were 3.03 million previously owned homes for sale, a level not seen since 1991, when 1.91 million homes were up for sale, according to the National Association of Realtors.
"Business is tough. The inventory of available properties has increased," said Martin Bouma, an Ann Arbor real estate agent. "You are looking at (the number of) buyers going down, and inventory is going up."
Some incentives offered by sellers include a year's worth of free landscaping or lawn care, free snow removal for a year or a year's worth of alarm service. And, that's just from the owners of existing homes -- builders sitting on a mound of inventory have also had to come up with new ways of wooing buyers."
Here in our Bradenton - Sarasota, Florida market we are suggesting these proven strategies to our Sellers:
1. 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.
2. Provide a free home warranty to your buyer. It's a nice perk.
3. Clean, Clean, Clean.
4. Add fresh paint and new carpeting. Eliminate all objections.
5. Consider offering a bonus to the agent who sells your home.
6. 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.
7. Offer to pay a few thousand dollars of the Buyer's closing costs.
8. Do you own a vacation home that you could give a free vacation stay to the buyer?
9. Spruce up the landscaping and the entry to the home.
10. Hire a Realtor who can provide a free moving truck to your Buyer (like Premier Team)
"NEW YORK -- April 19, 2006 -- Pete Montero first listed his Ann Arbor, Mich., home nearly a year ago at $379,000. The 2,600-square-foot home didn't attract buyers so Montero dropped the price in $10,000 increments -- he's now asking $329,900 -- and he's even considered remodeling the kitchen.
"We really didn't think any individual thing about the house would make it difficult to sell," said Montero, whose four-bedroom home has a finished basement and sits on a cul-de-sac to ensure privacy.
"Spring is typically the busiest time of the year for home sales. But with mortgage rates rising and sales slowing, sellers find they have to work harder to get a sale.
"In February, there were 3.03 million previously owned homes for sale, a level not seen since 1991, when 1.91 million homes were up for sale, according to the National Association of Realtors.
"Business is tough. The inventory of available properties has increased," said Martin Bouma, an Ann Arbor real estate agent. "You are looking at (the number of) buyers going down, and inventory is going up."
Some incentives offered by sellers include a year's worth of free landscaping or lawn care, free snow removal for a year or a year's worth of alarm service. And, that's just from the owners of existing homes -- builders sitting on a mound of inventory have also had to come up with new ways of wooing buyers."
Here in our Bradenton - Sarasota, Florida market we are suggesting these proven strategies to our Sellers:
1. 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.
2. Provide a free home warranty to your buyer. It's a nice perk.
3. Clean, Clean, Clean.
4. Add fresh paint and new carpeting. Eliminate all objections.
5. Consider offering a bonus to the agent who sells your home.
6. 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.
7. Offer to pay a few thousand dollars of the Buyer's closing costs.
8. Do you own a vacation home that you could give a free vacation stay to the buyer?
9. Spruce up the landscaping and the entry to the home.
10. Hire a Realtor who can provide a free moving truck to your Buyer (like Premier Team)
posted by Dan Forbes at
9:50 AM
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