Skip to main content

The Secret To Selling Your Home In This Market

The current real estate market is in a definite downturn. If you don't need to sell, you shouldn't. Ah, but what if you do? How do you stand out from the other properties and get buyers to make offers on your home? This brings us to the secret to selling your home in this market.

If you are like any other homeowner interested in selling, you have a problem. There is far too much inventory available. In this case, inventory refers to homes for sale. When excessive inventory is on the market, it drives prices down. I don't have to tell you that we are seeing just such an event now.

The secret to selling your home in this market is to overcome the inventory issue and make your house stand out like a lighthouse to a ship on a foggy night. Ah, but how do you do it? The simple answer is you help people buy your home.

As a buyer, what do you have to do to purchase a property? Well, obviously you have to find one. Besides that, however, you need to come up with the money for the purchase. This usually is a two step process. First, you have to come up with a down payment amount through saving or borrowing from the bank of Mom and Dad, etc. The second is to apply for and get a mortgage.

As a seller, you probably are not in a position to give your potential buyer a mortgage. You can, however, take care of their down payment. You do this by offering seller financing in the form of a second mortgage on the purchase. Let's look at an example.

Assume I've determine my home has a reasonable listing price of $300,000 for my area given comparable properties for sale. The problem is there are about 20 comparable homes for sale within a square mile of my home. I need to make my home stand out. To do this, I note in big letters in my marketing that I will carry a second note equating to $30,000, which is 10 percent of my selling price. I've now added something that makes my home stand out from the 20 around me and buyers in the area will take notice.

The beauty of this approach is you can even use it with a higher price than similar homes in the area are being listed for. Now don't go crazy or you'll price yourself out of the market. Still, a reasonable bump of 2 to 5 percent should be okay. Why can you do this? Well, money is very tight in this real estate market. Even people with excellent credit are getting worked over by lenders. By providing convenience to potential buyers, you are doing a good deed for them.

If you've been trying to sell your home for some time without luck, try this strategy. The secret to selling your home in this market is creative incentives. This strategy is definitely one.


Lebih Bersih, Lebih Baik, Lebih Cepat - Rasakan Yahoo! Mail baru yang Lebih Cepat hari ini!

Comments

  1. Elijah The ViolinistJuly 23, 2012 at 1:33 PM

    As explained in the blog, real estate is in its bad time right now. The main reason for this is non availability of good homes and property. If good property is available in the market having reasonable price and beautiful location, this s definitely be targeted by home lenders. To know more about real estate, visit Foreclosure Data Bank

    ReplyDelete

Post a Comment

Popular posts from this blog

Successful Weight Loss Tips And Program

10 Strategies for permanent weight loss 1.   Exercise is essential for weight loss It's nothing new, but exercise is probably the most important predictor of whether you will succeed at long term weight loss and weight loss maintenance. In order for exercise to be helpful in weight loss, you should strive for a minimum of five 30 minute sessions per week. The good news is that recent research has shown that three 10 minute sessions in a day are as good as one 30 minute session. This helps many in combating the old "no time for exercise" excuse. Be certain to find something you enjoy. You'll be more apt to stick with it. Try walking with a friend, joining an intramural sports league, participating in outings with a group like The Sierra Club, or trying some classes at your local gym. Once you give exercise a chance, you will begin to enjoy its positive benefits on your psyche as well; you will literally become "hooked." 2.   Weight loss and weight trainin...
1 comment
Read more

5 Essential Questions Every Business Blogger Must Ask (And Do Not Start a Blog Until You Do!)

Are you thinking about starting a blog? Considering the various powerful permutations and profit potential that bringing one into your marketing mix can offer? Congratulations! It's a great decision, and one that I firmly believe is one of the brightest and most bodacious strategies you can use to exponentially explode, improve and amplify your business building efforts. (and fast) But in my view, one of the biggest mistakes people make when starting a blog are NOT things related to a lack of ideas, or technical specifics or any other lack of "know how". Instead, they tend to be problems that arise out of NOT asking the right questions before you begin. Let's take a look at a few of the ultra important ones, and the sort of stuff that can not only make or break your blog, but also are ultra important to your business, and LIFE overall. - Are you TRULY an Expert? (if you are blogging for business, especially as "service" related business where you are off...
Post a Comment
Read more

Pay per Click Management Services: Driving More Traffic to Your Website

Have you ever tried counting the number of websites existing in the World Wide Web? Just by running a search using a keyword in Google, it will give you an idea on the number of websites. Therefore getting noticed by web visitors is paramount to the success of any online venture. A better web presence can be achieved through a high ranking on search engines. But again, getting to page 1 of search engine result page is a daunting and time-taking task. For a new website, which needs an initial boost to make it mark on the web, it needs a quick and reliable method to get more clicks. This is where pay per click advertisement comes in handy. Pay per click advertisement is offered by leading search engines including Google. In such an advertisement, your site is advertised on the search engine result page and you pay for the advertisement only when your site gets clicked. As long as your site does not get clicked you do not pay to the search engine. And unlike the organic results on the le...
1 comment
Read more