Anyone who has been keeping an eye on market conditions in and around Hampton Roads will probably tell you the same thing; it is a buyer’s market. Like many areas across the U.S., the number of homes for sale is greater than the number of qualified buyers, therefore, home prices are dropping and homes are not selling very quickly. Unlike 18 months ago when you could basically sell your home just by throwing a sign out in the yard, now it can take upwards of seven months to attract a qualified buyer who is interested in your offer.
So, what can home sellers do to sell their homes without having to wait months on end? Many are reducing their asking prices, however, rather then reduce your price after months of not receiving any offers; it may be wiser to just select a more reasonable asking price. Some home sellers are offering incentives such as paying the closing costs, flat-screen televisions and Caribbean vacations in order to motivate homebuyers.
Another thing that will make a home more attractive to potential buyers is a pre-listing inspection. Having your house inspected prior to listing it shows buyers you are serious and that the home is in good conditions. Prepare your home so that it stands out among other, similar homes in you area.
Last, but definitely not least, if you want to be successful selling your house, interview several listing agents and compare their advertising and marketing strategies. For Sale By Owner may have worked a few years back, right now however, only 2% of FSBO listed homes are selling. Choosing the right real estate professional to handle all of the details will help take the stress out of the entire process and having a top-producing listing agent market and advertise your house will help assure your success.