|
Share this Article:
Be prepared to slash prices if you want to sellCategory: Recent Articles | Permalink Published: Tuesday, August 03, 2010 Be prepared to slash prices if you want to sell In today's markets, home sellers have to face the reality of reducing their home's selling price. Many sellers are doing this in order to attract buyers more quickly. Twenty-four percent of listings on the market as of July 1 had gone through at least one price reduction — that's a 9% increase from the previous month. Try waiting it out. If clients don't really, really have to sell it may be better to hold off. If they can wait it out the best choice could be to batten down the hatches until next year. For some sellers at or near a negative equity situation, owing more on their home than it's worth, it's possible that modest appreciation could mean the difference between a traditional sale and a short sale. In a short sale, the lender agrees to accept less for the property than the borrower owes on the mortgage. Reducing your losses If you're sick of the waiting game and wanted to move yesterday, price your home right from the beginning. If it's low enough, it should attract multiple bidders and you might even get more than you're asking for. Also, make minimal but obvious price cuts. Reducing prices by $1,000 or $2,000 will make your prices look more appealing but at the same time you will not loss a whole bunch. Remember: If you're selling a home to buy a new one, you'll likely get a good price on that new abode, because the person you're buying that home from likely will be going through the same wrenching, price-dropping experience you are. Questions/Concerns? 619.820.0607 Bella Esshaki REALTY EXECUTIVES ALL AREA
Other Recent ArticlesFannie Mae Servicer Ratings For Foreclosure PreventionCategory: Recent Articles Published: Friday, October 21, 2011 6 Reasons Mortgage Applications Are RejectedCategory: Recent Articles Published: Tuesday, October 18, 2011 |
Categories
RSS |
About |
Contact
Infinity Arts - Website Template, CMS Web Hosting