Selling your home in a Soft Market
Tips for Selling your Home in a Soft Market

One can quickly ascertain that markets all across the country have continued to soften in recent months.   Hence, I get clients asking how they can help improve the chances of their homes selling.   Here are a few obvious, but yet important things to keep in mind during 2008's market.

1.  Make sure your home is organized and clean.  Buyers don't want to try and visualize what your home looks like underneath all that clutter and dirt.  Buyers have a difficult time visualizing things so don't let your disorganized home be the reason it doesn't sell.  People can expand on this principle through staging (i.e. table settings etc.)

 2.  Consider Owner Carry.  Most people cringe at the idea of carrying a note, but carrying a note with 20%-30% down over a year or two isn't a bad way to go in this market.  You earn interest, and there is a lot of incentive for the buyer to pay their note with the vested equity in the down payment.

 3.  Be realistic about a selling price.  Every seller wants top dollar for their home, and every buyer wants the deal of the decade.  Look at yourself in the mirror and ask the question; Am I going to be realistic about the price for my home or not?  If you want the booming market price that is great, but expect to have your home on the market for years, not months.  Remember, this is a buyer(s) market so they have the upper hand in the old supply and demand game.

 4.  Finally, be patient.  Slower Buyer(s) markets take time for properties to move.  Expect your home to have a longer absorption rate.  Plan ahead when considering listing your property.  List before you have to sell, and take a solid offer when it comes.  Plan your financial objectives with your home years in advance, not months in advance. If you will plan ahead and remember to be patient you will be fine in this slower market rather than driving yourself crazy and your agent crazy.