Summer is a great time to get your home sold. But, if you're not in foreclosure, how do you compete with those that are? Approximately 50% of all home sales are distressed properties.
Here's the good news: Homes sales are up 2.4% in May over April, and home sales were up in April, and in March.
Here's the bad news: Home prices have dropped 17% over last years prices.
Here are 5 great tips to help you get your home sold this summer.
- Accurate pricing.To get the best idea of where to price your home, ask your Realtor what has sold in your neighborhood recently. And getting a professional appraisal will give you a more precise figure. Although it can cost a couple hundred dollars.
- Utilize all marketing channels. Distressed sales do not have all the options for marketing that a regular home sale has. Take advantage of those channels. Your REALTOR(r) will be able to advise you on all the marketing tools in available to her.
- Stage Your Home.Remember you are selling the home, not your belongings. Remove all clutter and collections, and clean everything well; immaculate! Edit the furniture in the home. You don't live in a for sale home the same way you live in your Add flowers and color to the front of your home. Paint your front door a bright red! Distressed properties are often vacant and dirty inside, often with nasty smells. With no one to keep it up the landscaping it usually needs tons of work. Buyer's realize that it will take them time and money to bring the home and landscape back to habitable condition.
- Accept short closing time lines. Distressed properties will usually take around 4 months to close. Many people need to get into a home much quicker than that. Offer your buyers a quick closing. You can do it, you can move in 30 days! Offer that.
- Don't take it personally.Remember your competition is a home priced much lower than yours. If you get a low ball offer, don't take it personally. Buyer's have been conditioned lately to think they can get a great deal on home purchases. They hear about homes being sold for ridiculously low prices. If they really are interested in your home, counter they offer. Remember, it a business transaction, not a personal affront.
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Marianne Snygg, GRI, ABR, ASP
Broker Associate
ERA Herman Group Real Estate
Colorado Springs and Monument Real Estate
Central A/C
