Princeton Town Topics – Let’s Talk Real Estate – March 19. 2008
CHALLENGES OF A CHANGING MARKET
Many regions of the country are experiencing a transition in real estate trends. What are the implications for sellers?
First, it is essential that you price your home accurately from the outset. Consult with your real estate professional to determine a competitive price for your home. Sellers can also gain an advantage by improving the home’s appeal for the prospective buyer. This could include offering incentives, or you could give the walls a fresh coat of paint in a neutral color, creating the look of a “new home”.
You could also consider offering to pay some of the nonrecurring closing costs (for example the loan appraisal or loan points) which could be a major motivation to cash-poor buyers.
Having a home inspection and doing those urgent repairs before your home is listed, is a good idea so buyers don’t become discouraged if they have to wait for repairs. Ask your real estate professional to advise you about staging your home to show well.
