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Selling a Home in a Shifting Market

Dec 26, 2007
If you are thinking about listing a property for sale in today's shifting real estate market, be prepared. It won't be as easy as it was three or four years ago. However, the property will never sell if you don't list it. Here are a few tips to simplify the process of selling your property.

The most important thing to remember is to be patient. With so many homes on the market right now, selling your property will be a waiting game. Be prepared for a long haul from the beginning. If you expect the property to be on the market for a year but it sells in a month, you'll be happily surprised. On the other hand, if you hope to sell your home in a month and it takes a year, you're setting yourself up for disappointment and frustration. There's nothing wrong with a little optimism, but keep your expectations realistic.

Also, learn about the real estate market in your neighborhood before listing your property for sale. Talk to neighbors and real estate agents about the market in your neighborhood. Find out how long comparable houses have been up for sale. Ask about the type of offers similar homes have received in your area. Are they selling for above or below the listing price? How much more or less are home sellers getting for homes in your neighborhood? If a home recently sold for a really low price, find out the circumstances of the situation. Perhaps the previous owner had to relocate quickly or sold to a family member at a discounted price. It's good to have this information when a potential buyer mentions the recent low selling price in your neighborhood.

What listings are competitive to you? Will your house get passed up for the one down the street with the new siding? Be mindful of improvements to make that are minimal investments but give major cosmetic appeal to your home. Trim the bushes and put up a new coat of paint. Know where you stand in your local real estate market to ensure you get the best selling price possible for your property.

Consider hiring a home inspector. An impartial evaluation of the condition of your home saves you from potential buyers who want to haggle about the condition of your home. A home inspector points out the things that need fixed and buyers feel reassured to know that you've fixed everything the home inspector pointed out to you. More often than not, the sale of your home will be contingent on a home inspection anyways, so it's best to just get it over with ahead of time.

Selling a home in a shifting market sounds like a daunting task. A little mental and physical preparation goes a long way in getting through it. Get your mindset straight and your home in order and you'll be ready to sell. If you are well-prepared for fickle buyers, you stand a much better chance of making a quick and profitable sale.
About the Author
Kari Shea, of Shea Real Estate & Investment Group, is an accomplished business professional and community leader in the San Diego, California area. With more than 45 years of collective sales, marketing and consulting experience; the Group are master negotiators in the marketing and selling of real properties. Learn more about their services at: www.shea-realestate.com.
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