Tehama Country Real Estate

Tehama Country Real Estate – 3 REAL ESTATE WOES? Tips for Home Sellers in a Buyers' Market lthough real estate industry reports indicate that the backlog of unsold homes across the country has started to dissipate, there are still a number of properties on the market. Additionally, the number of homes continues to exceed the number of buyers looking for properties. The country has been entrenched in a buyers market for some time now. Many homeowners looking to put their property on the market are wondering if their home sells how long it will take. For a variety of reasons, potential buyers are being cautious about purchasing homes, and they are also being more selective of properties. Homeowners putting their houses on the market need to be aware of the buying nuances that are taking place and posi- tion their homes in the best possible light. There are a number of steps to take to A ensure the sale of your home in this buyers market to avoid frustration and disappointment when marketing your home. 1. Price realistically: It s important to first get it in your mind that you will NOT be able to get the price you might have gotten on your home a year or two ago. Therefore, if you price your home knowing this, your asking price will be more in tune with the current market. Work with your realtor to examine current housing trends and price accordingly. While it was once commonplace to price your home with 10 to 20 percent added on top, now you have much less bargaining room. Many homeown- ers who are stuck on last year s prices and are stubborn about price reductions have a hard time selling. 2. Scope out the competition: Visit houses for sale in your area and take advantage of open houses to see what others are offering. This way you can check out how your home compares to the competition. Look at every- thing through buyers eyes and make an unbi- ased effort to rank your home with what is offered. Also visit new model homes and see what amenities are offered that buyers will find beneficial. 3. Create a turnkey property: While buyers may have been able to overlook shabby car- peting or the need for a fresh paint job a few years ago, today they re much less accepting of needed fix-ups around the house. In a buy- ers market, sellers need to ensure their home is a turnkey property. This means that a buyer can simply walk in, unpack and be able to live in the home as-is. Take a look at everything in your home with scrutiny. Make any repairs and be sure your home sparkles. One little thing left unattended could put an end to your sale. 4. Help buyers envision themselves in the space: Real estate experts suggest taking sev- eral measures to help potential buyers envi- sion themselves living in the home. First of all, resist the urge to completely clear out the home. Rooms with minimal furniture that illustrate the purpose of the space help buyers visualize living in the home more so than stark rooms. Secondly, remove any personal effects, such as family photos or collectibles, that relate to a hobby. A buyer may not be an avid fisherman or collect porcelain cats. Keep the house accessories as neutral as possible. Rent a storage unit and clear out an extrane- ous furniture that closes in the space. Update tired or outdated pieces with slip covers or other refinishing tactics. Check out housing magazines for neutral color schemes that are in vogue. 5. Interview several real estate agents: Get- ting your home sold in a buyers market is more difficult than in the reverse market. Your real estate agent will be instrumental to mak- ing the sale happen, so you want to find one who will click with you and has your best interests in mind. Talk to several agents to learn of their sales philosophies and how they will market your home.

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