How to Sell Your Home in Today's Market?

By Sheryl Landrum
Home Worth Columnist

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Let's face it, home sales have come to a screeching halt in some places. In the attempt to buy a "bargain," buyers are focusing on short sales and foreclosures, leaving many home sellers wondering where the buyers are. However, just because the market is slow it doesn't mean that you can't sell your home with success.  

Is a Short-Sale or Home Foreclosure Really a Bargain?
What most home buyers find when looking at short-sale or foreclosure properties are houses in distress and a home buying bureaucracy that is frustrating to deal with.  While the initial selling price may seem appealing, the cost to bring the house back up to standard and the frustration of trying to go through the banks may not mean a bargain after all. After a run through of the foreclosure/short sale market, many potential home buyers are then more willing to talk to real estate agents about other homes on the market. If your house is one of them, make it attractive to buyers and negotiate a quick sale.  

Home Selling Basics
Most real estate agents will tell you that if you want to sell your home quickly, here is what you need to do:

• Price your home correctly. Let's face it; we often have an inflated idea of our home's worth. To ensure your home will be seen and will sell, listen to the real estate experts and price your house for today's market. Remember, market value is determined by recent sales in proximity to your home and foreclosures and short sales are driving down home values in many neighborhoods.
• Showmanship sells. Houses that sell quickly are homes that show well. Removing clutter and sprucing the interior and exterior of your home will pay off with potential homebuyers. Home staging also helps buyers see your home at its best and see themselves in it.
• Maintenance pays. Repair broken items in and around your home. A house that has broken items or is in need of other repairs will beg a potential homebuyer to ask what else has been neglected.
• Work with a professional real estate agent. Make sure your real estate agent has a successful track record before signing a listing agreement. Remember, an agent who is willing to negotiate down his or her commission may not work as hard, or have the necessary resources, to promote your home to potential home buyers. Ask for references from those who have had successful home sales and check with the state governing agency to ensure your real estate agent's license is in good order.

Remember, home selling is not impossible in today's market. By taking some extra care and being competitive, you can sell your home successfully, quickly, and with less stress.


About the Author
Sheryl Landrum is a Senior Loan Officer with First Capital Mortgage of San Diego at the Prudential Realty Office in Bonsall, California.