By: Jamel Gibbs
Real estate prices are coming down in today’s market. Homes are sitting on the market a lot longer than they were in the past few years. Property owners are not getting the same response from the market that they were just 2 and 3 years ago. So if you are trying to sell in this market, how do you sell your property fast for a descent return on your investment? In this article I will give you a few tips on selling your property in today’s market.
The house: In today’s market the house must stand apart from the other houses in the neighborhood. You must literally have the best looking house in the neighborhood for the cheapest price. Make sure your place is very clean and well maintained. This is a buyers market and they will be pickier than ever before.
Advertise the property early: An important factor in selling your properties fast is to advertise the properties for a full week before the open house. This will stir up the hype and all the attention will be on your property. When the buyers call take their names, phones numbers, and email addresses and let them know that the open house will be during the date and time that you set. Let them know that there will be other buyers coming. This will create fear of loss. When a buyer sees competition they want to be the first to get the goods. It’s human nature.
Price: The house must be priced right if you want to sell it. This is true in any market. So how much more so will this be true in a buyer’s market? One technique that I would recommend is checking to see what other homes sold for in the area and how long they were on the market. Also, check to see what prices homes are on the market for and the time frame they have been on the market. Once you have this information, find the closest comparable houses to yours. After finding the closest comps (comparable houses), price your home 5 to 10 percent below what the other prices are. This will give you the best price in the neighborhood. Don’t be afraid because you priced the property so cheap. Most of the time buyers will over bid because cheap prices create bidding wars. If your property is nice, then it will sell in lightning speed.
Remember to advertise your property early, and make it look good. Last but not least, price the house right and it will sell fast.
Copyright © 2008 Jamel Gibbs
All Rights Reserved
Check out Jame Gibbs at http://www.HowtoFlipforProfits.com
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