Strategies for Selling a Vacant HomeWritten by Neda Dabestani-Ryba
Strategies for Selling a Vacant HomeBy Neda Dabestani-Ryba Prudential Carruthers REALTORS Homeowners employ one or more of these strategies to hasten sale of a vacant property and protect it during process. Give house a lived-in look to thwart any unwelcome visits. Set a couple of lamps on timers, and have a neighbor or friend check on house daily to take in mail, park a car in driveway, and close and open drapes and windows. Continue using a gardening service or hire someone to cut grass regularly. During winter months, arrange to have snow shoveled from walks and driveway. If you remove furniture, have house cleaned and painted. Furniture, rugs and decorations tend to hide or minimize imperfections. When furniture and artwork have been removed, every blemish and bruise becomes accentuated, faded paint and wallpaper become more noticeable and scratches and nicks stand out. Repaint brightly and boldly colored rooms to a neutral tone. What was an eye-popping room when fully-furnished may appear stark and small when empty. Leave utilities connected. Depending on season, make sure thermostat in house is set at a comfortable level. You don't want a potential buyer to run through home because it is too hot or cold. Leave behind a few select pieces of furniture and keep window treatments in place. Instead of producing a spacious appearance, an empty room tends to look smaller than a furnished room. A chair or lamp on a small table will confer a sense of scale and help potential buyers gauge whether their furniture will fit space.
| | What Should You Do If Your Home Isn’t Selling?Written by Neda Dabestani-Ryba
What Should You Do If Your Home Isn’t Selling?By Neda Dabestani-Ryba Prudential Carruthers REALTORS It can be very frustrating to put your home on market, expecting a fast sale, only to find that after six months you’re still waiting for an offer. What can you do? First, determine if it’s a result of timing. You may have started worrying too soon. If it has been only a month and you haven’t gotten a bite, not to worry. The time a home stays on market is related to market’s strength, which varies regionally. According to The 2003 National Association of REALTORS® Profile of Home Buyers and Sellers, two-thirds of all homes sold in United States in 2003 sold within two month, with average sale taking place within five weeks. However, homes in Northeast and West sold slightly faster (four weeks) than those in Midwest and South (five weeks). Of course, other factors may be responsible for your home not selling. Inaccurate pricing. A house priced at market value piques interest of real estate professionals and buyers, while overpricing chases them away. Even if seller adjusts price later, it’s difficult to recapture people’s interest. Because it’s only natural to overestimate value of one’s home, homesellers should depend on factual reference points, such as an appraisal and comparables (Comparable Market Analysis or CMA) to help estimate market value. Real estate professionals prepare comparables by examining similar properties that recently sold in a neighborhood. This practice is best way to arrive at a realistic asking price. Insufficient exposure. If you’re selling your home on your own, you may want to consider using a real estate professional. As reported in previously mentioned NAR study, buyers were most likely to learn about home they purchased through a real estate professional. Sales professionals develop comprehensive marketing strategies to sell a home. They generally use open houses, yard signs, MLS, newspaper ads, Internet and brochures to give a property maximum exposure. Limited interest and thinly attended open houses may indicate a need for more exposure.
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