Friday, August 27, 2010

Staying Positive in a Tough Housing Market

If you are a home seller, it's tough to stay positive in the face of so much awful housing news these days. When navigating any set of difficult circumstances, its important to remember what you can control and what you can't. You can't do anything about macro economic trends that have been years in the making, but you can absolutely do something about the two most important factors in a home sale: price and condition.
  • Price. Be realistic, listen to your Realtor and if you have to move relatively quickly, be willing to price your home slighting below the market. Pricing your home higher than the market hoping for that one elusive buyer that just has to have your home is a recipe for a lengthy time on the market and future price reductions both of which add to a negative perception of what might otherwise be a terrific property. Long market times and price reductions cost you money, plain and simple.
  • Condition. Buyer these days have incredibly high expectations - not only in the sense that they often perceive the opportunity to get a "deal" in this market, but they also expect homes to be move-in ready and in pristine condition. Delaying maintenance, updates and having a poorly staged home invites at best low offers and at worst, no offers. This blog is filled with tips on staging your home for sale. The condition of your home will have a direct impact on the ultimate sales price.
These uncertain economic times seem made for the serenity prayer (paraphrased) reminding us to have the serenity to accept the things we cannot change, the courage (and the energy!) to change the things that we can and the wisdom to know the difference.

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