Selling a home in a cooling market
A drop-off in buyer demand and rising home inventories has made marketing a home more difficult. RealEstateJournal.com, The Wall Street Journal's guide to property, offers tips:
1. Size up the playing field. Study your local market and investigate other homes' listing prices compared to what buyers are actually paying.
2. Price competitively. Price a residence just below what the market will bear. If a home is overpriced, a buyer will dismiss it and move on to the next one.
3. Use aggressive marketing. (It’s not enough to just put a sign in the yard and hold an open house)
4. Don't delay. Even if an offer isn’t all you had hoped, taking it instead of waiting for a better deal can save money in the long run.
5. Negotiate. Offer concessions to potential buyers, such as making minor fixes. Small expenditures speed a sale and, ultimately, preserve price gains.
1. Size up the playing field. Study your local market and investigate other homes' listing prices compared to what buyers are actually paying.
2. Price competitively. Price a residence just below what the market will bear. If a home is overpriced, a buyer will dismiss it and move on to the next one.
3. Use aggressive marketing. (It’s not enough to just put a sign in the yard and hold an open house)
4. Don't delay. Even if an offer isn’t all you had hoped, taking it instead of waiting for a better deal can save money in the long run.
5. Negotiate. Offer concessions to potential buyers, such as making minor fixes. Small expenditures speed a sale and, ultimately, preserve price gains.
posted by Dan Forbes at
8:07 AM
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