What happened to the real estate flurry we experienced 8 months ago? Homes in the Tampa Bay area were flying off the market so fast that at times real estate agents could not even make an appointment to see the home before it went under contract. For the first time in many years For Sale by Owner was becoming the mainstay over hiring a professional real estate agent to get a home sold. Those times are changing and while real estate agents are pleased with the results, some sellers are getting anxious while waiting for their homes to sell. Many real estate agents have multiple listings for sale for the first time in a few years. While this can be a definite boost in their credibility, it can also be a stressful situation as well. There are many homes on the market in the Tampa Bay area and other big cities as well. There is an over abundance of inventory, something that was definitely lacking 8 months ago. Why? Many investors entered the market in the last few years and are currently reselling. Another factor is that homes in certain areas of the country enjoyed a substantial appreciation spike over the last few years, therefore many people are cashing out. Buy low and sell high seems to work well in the real estate market as well. Overall, this is a much better situation than the position the market was in even 8 months ago. Keep in mind that values are not falling, in fact moderate increases in value are consistent throughout the Tampa Bay area and other metropolitan areas throughout the country. This is actually a win-win situation for buyers and sellers as well. Buyers have many homes to choose from and can take their time for a final selection. Values are holding steady and not falling and thats really good news for sellers. But, now we have many homes on the market that need to be sold. What can we do? Get creative and smart at the same time. Here are some tips on how to make your home more salable and stand out from the rest: 1. Clear out the clutter. First impressions are everything in a home. Make the home neat as a pin inside and out. 2. Resist the urge to test the waters and overprice the home to see what happens. The home will sit there and sellers and agents will get frustrated. 3. Experience and reputation counts. Find yourself the best real estate agent you can. 4. Make sure everything is in top notch condition and working order. Buyers will be doing a home inspection. Dont let them find the leaky faucet; fix it way ahead of time. Expect something to be uncovered in an inspection and expect to cheerfully fix it. 5. Try to get some feedback from people viewing your home. This may give you some insight into something you can improve. 6. Keep the house clean, available, and sweet smelling 24x7. You never know when someone will call and want to view it. 7. Buy something new like stainless steel appliances, new carpet, or fresh paint inside and out. Remember buyers are looking at a lot of homes, make yours better. 8. Be realistic when you do get an offer. Dont haggle over a few thousand dollars in a tight buyers market. |
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