| If you bought or sold your first home after | | | | sellers who chase a market almost always lose |
| 2001 then you may be perplexed by the current | | | | more then if they had priced their property |
| market. If your home has been on the market | | | | correctly when it was first listed. None of |
| over three weeks without an offer and few | | | | us is smarter then the market!If you are |
| people are showing up at the Sunday Open | | | | thinking of selling soon here are a few tips: |
| House... Relax... Do not panic.. You did not | | | | Get your home in market condition.*Take a |
| choose the wrong agent... This is just a | | | | good look at your home. If you have not |
| return to a normal market.Over the last 5 | | | | painted recently then paint |
| years we became accustomed to a frantic and | | | | |
| fast paced market where property sold in a | | | | the interior and exterior if necessary. If |
| day with multiple offers and selling prices | | | | the carpet is worn replace it. |
| far over the listed price. The last four | | | | |
| months have seen a change from that mad whirl | | | | Have the house professionally cleaned |
| to a slower paced normal market.In a normal | | | | including windows. Make those minor repairs |
| market it may take 30-90 days for a property | | | | you have been putting off.*Look at the |
| to sell. The list price will be close to what | | | | exterior of your home. Landscaping is often |
| the house down the street sold for last month | | | | the key to selling a home. |
| and maybe a bit under, not $200,000 over that | | | | |
| price. The best offer you receive may be the | | | | Buyers make half their decision on a |
| first offer and it will likely be below the | | | | property based on the exterior |
| list price. If you are lucky you may get four | | | | |
| potential buyers through an open house. Your | | | | of the home. Many will not even get out of |
| Nephew who quit his job as an engineer to | | | | the car if the exterior is not |
| make millions in real estate is probably | | | | |
| getting ready to go back to | | | | appealing.*Price your property at market |
| engineering.Potential buyers are taking weeks | | | | value. Sellers always think a buyer will make |
| or months to make a decision about a | | | | a |
| property. They are no longer willing to pay | | | | |
| top dollar for a home in poor condition. They | | | | lower offer on their home even if it is over |
| might look at a fixer if it is priced right | | | | priced... but they don't. Buyers |
| but will not pay a premium price for a | | | | |
| marginal property.A prospective purchaser | | | | rarely look at property well over their |
| will buy when they perceive a definite value. | | | | price range in the hope the seller |
| They will no longer be willing to overpay on | | | | |
| the assumption that the home will double in | | | | takes a lower offer. Your agent will give |
| value in 6 months. This does not mean that | | | | you current market COMPS |
| prices are dropping drastically because they | | | | |
| aren't. It does mean prices will increase at | | | | on similar homes in your area. Ask questions |
| a slower pace. If a property is perceived as | | | | and view some of the competition to |
| an excellent value then you will see multiple | | | | |
| offers. I know of 6 properties in the last | | | | see what they are like compared to your |
| two weeks that sold for over list price with | | | | property.*Have realistic expectations. |
| multiple offers. They were all listed at | | | | Relax.. and your home will sell at the right |
| market value and in excellent condition.Many | | | | price.Kaye Thomas has been selling real |
| Sellers have a hard time adjusting to a | | | | estate in Manhattan Beach Ca since 1979. |
| slower market. They do not want to believe | | | | Kaye works with buyers and sellers and |
| the Great Times are over and now they must | | | | specializes in residential and small |
| settle for Good Times. Many Sellers get into | | | | residential income property. In addition to |
| trouble and wind up chasing a down market. | | | | selling Kaye spent 16 years managing an |
| They continue to list at a price higher then | | | | office and developed an extensive training |
| market value in the hope that someone will | | | | program for new agents. |
| still pay their price. In the long run | | | | |