Where Can I Sell Furniture And Have Picked Up Ny Selling Your House In A Down Economy

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Selling Your House In A Down Economy

Tough economic conditions mean the property market is ideal for buyers but a graveyard for sellers hoping for a good deal. The housing market in the United States is at its lowest level in nearly three decades. The Mortgage Bankers Association reports that in 2011, 8 million Americans were at least one month behind on their mortgage payments, with 5 million of those homeowners two months behind. With a huge number of homes for sale, prices are falling rapidly and sellers are being trapped. Below are some tips on how to sell your home in a down economy for a reasonable price.

Find a great realtor

While you can try to sell the property yourself, it takes an awful lot to list your house and do all the ground work without any real knowledge of the field. Despite the fact that a real estate agent will cost you 3-6% of the sales price, their expertise can easily make up the difference. Find a local agency that knows your neighborhood, including knowledge of comparable properties in the area, school systems, etc. Check the realtor’s sales history over the past several years. You want a successful real estate agent who is not too busy to give full attention to your property.

Marketing plan

Your real estate agent is responsible for creating a marketing plan, but it is your responsibility to familiarize yourself with the plan as it is an essential element in driving traffic and getting more people to view your home. Your property must be visible on top websites like realtor.com. The best real estate agents have their own websites, so make sure your property is listed there too.

Preparation

This is your chance to shine. Walk through the house with your agent and they should be able to point out things that may turn potential buyers off. The good news is that prep work for your home can be done on a relatively tight budget. Take care of the property’s exterior first, with neatly trimmed hedges and colorful flowers always a plus. Fix any loose bricks or railings and also make sure the roof is in perfect condition.

Make sure all walls are painted and carpets are professionally cleaned. Remove all odors to leave a fresh smell and move around the furniture to make the living space look as big as possible. If you fail to get your property looking immaculate by the time the first viewings arrive, your home will remain unsold.

Price

See active listings, pending listings, and recent home sales statistics that can reasonably be compared to yours. However, be careful when looking at sale prices as these sales may have taken place several months ago. Economic conditions can change very quickly, so you may need to adjust your prices to suit the current market. Pay special attention to the prices listed because they are your competition.

Once you’ve done the above steps, you need to be quick to respond to inquiries. Your real estate agent generally handles follow-up activities including emails or phone calls from interested parties. Hopefully you will have a lot of interest, increasing the chance of getting a fair price for your home.

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