Monthly Archives: August 2007

What to do?

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.

Leave a comment

Filed under For home sellers, Hampton Roads real estate

Hello World!

Welcome to my real estate web log for Hampton Roads, Virginia Beach, Suffolk, Norfolk and Portsmouth, Virginia. My name is Joan Marie Revell and I am a long time resident of Virginia Beach and North Virginia. I grew up around real estate and have been directly involved with every step of the real estate process. I am currently representing the Rose & Womble Realty Company.

I will be using this blog to share my experiences with buying and selling Hampton Roads real estate. I will be writing about topics that should be informative to home buyers, home sellers and real estate investors as well as anyone who is thinking of relocating to the Hampton Roads area of Virginia. Click on the links to the right for information about me, local schools and neighborhoods, golf, entertainment and of course, you can search for homes using my featured listings or the MLS. Or, you can visit my website at http://www.joanrevell.com/.

What is the local real estate market like right now? Which new developments are attracting more buyers, and why? What are sellers doing to help sell their homes in the current market? Subscribe to this blog by clicking the Posts link at the top of this page and be the first to know what is happening in the world of real estate in Hampton Roads, Virginia Beach, Suffolk, Norfolk and Portsmouth, Virginia. If you have any questions, please contact me. Thank you for stopping by and be sure to check back from time to time to see what is new.

Leave a comment

Filed under For home sellers, For homebuyers, Hampton Roads real estate, Uncategorized