Right now is a tough time for anyone to sell a home on the unreliable real estate market. While the prices of homes have finally remained steady in 2010 and it looks like the steady decline of home prices is over for now, it can be very difficult to sell a home. In some neighborhoods, homes remain on the market for months while others sell in just days. So what gives?
Price to sell
One of the most difficult things to do is lower your price. But to sell a home fast, it needs to be priced right. Remember, you can’t price a home too low in this market, but you can certainly place it too high.
It’s just property not my home
Don’t make it personal. While everyone loves their house, it’s hard to remember its just property. Take an emotional step back, check prices in the same area and set a reasonable price.
Check out the competition
One of the easiest ways to determine local home values is to take a few tours with a real estate agent or visit a few open houses. This way you can get a feel for what’s out there and local price ranges.
Look at the comps
A comp is a real estate term used to describe the comparable seller’s price. This is the real price tag of a home and shows you what the home actually sold for and not what it’s priced at. A real estate agent can give you a good look at what your house is truly worth.
Take it off the market
More often than not, a home that is priced too high sits on the market for a while. Slashing costs or having lots of open houses can over-saturate your homes marketable charisma. Take it off the market for 6 months, let it cool down then re-list it at a reasonable price.