Elegant Living at it's Very Best!

Unfortunately, slow markets are part of reality and in every location in the country experiences them at one time or another. There are some things that can be done to sell a home even in a slow market. Price the home below market. Buyers don't totally leave a marketplace even in a slow market. There are just less of them actively ready to buy a home. To attract their attention, you will need to price your home at less than homes of similar size and condition in the same area as yours. Eliminate any negative features ' most buyers use all of their available cash for the down payment and closing costs necessary to buy a home. They don't have the cash to put down new carpet, or repaint, or replace the appliances. By replacing them prior to the sale, the buyer is paying for them in their mortgage a few dollars a month instead of thousands in cash or financed at a higher rate of interest over a shorter period of time. Assure the buyer ' Fear of the unknown is one of the reasons buyers have a tendency to 'low ball' a home or avoid it all together. You can eliminate this fear by having your home inspected prior to finding a buyer. You'll benefit by knowing if there is anything that needs to be repaired and you can show the report to interested buyers to justify the condition of the home. Verify the Value ' To establish the value of your home as the price you are asking, order an appraisal prior to putting your home on the market. It is amazing how many times people will concede the value if it has already been established by a professional appraiser. Improve the financing options ' consider paying points to help the buyer get a better mortgage. Another option might be to buy-down the interest rate for two or three years to make the payments lower for the buyer initially. Make the home available ' think of having your home on the market like being in the retail business. You have to have the store open when the customer is ready. If it isn't, the customer may go to another store to buy. Be flexible ' terms can make a difference. For instance, if you are willing to carry a second mortgage for 10% of the purchase price, the buyer can get an 80% loan and avoid the expense of Private Mortgage Insurance. This can make your home more marketable without lowering the price.

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