This is a tough market for those looking to sell their houses through the traditional means of using a Realtor. A large inventory of bank owned homes and people with loans higher than their house values will continue to hold prices down and create obstacles for sellers in 2012.
However, people still need a roof over their heads and many experts expect house sales to increase in 2012.
With that in mind, here are 12 tips for those looking to sell their houses in 2012. These tips were originally posted here.
1) Price it right from the get-go
This is probably the most important thing. Houses in Birmingham are taking an average of about 5 months to sell. Make sure you are pricing at or below today’s market price, not what you would have hoped for in 2006!
2) Put your best footage forward
Make sure you put some work into making the house look great, even if you are just doing cosmetic improvements. This can include painting, cleaning, caulking, planting flowers, etc. First impressions count for a lot!
3) Be flexible
Be ready to negotiate and offer extras such as closing costs, paid property taxes, remodeling work (or a cash credit), appliances, paid condo association/homeowner association dues, a few months of mortgage payments or even seller financing. If you told your agent to ignore lowball offers, you don’t have that luxury now.
4) Trump your techno-fears
Make sure your agent is comfortable with technology. Sellers and buyers are routinely u sing Facebook and other social media, as well as dozens of other online selling sites. There are also a lot of real estate smartphone apps out there.
5) Don’t fall prey
Fraudsters are targeting distressed homeowners with “deals” that can sound perfectly legit. If you’re unsure of an offer, have an attorney or other trusted adviser look it over. Keep in mind that a law barring firms — except attorneys — from charging upfront fees for mortgage relief or mortgage modification took effect in 2011. It’s called the Mortgage Assistance Relief Services Rule.
6) Finance 101
Realize it’s harder to qualify for loans these days. Credit records are under greater scrutiny, and lenders are often demanding a 20 percent down payment and some pricing flexibility from the sellers, especially if the lender’s appraisal doesn’t reach the asking price. Consider cash offers, even if they’re not the highest.
7) Be your own spokesperson
Agents once advised home sellers to retreat from view during showings, lest they disclose something unsavory or otherwise botch the deal. That’s changed. If you can control your ego and emotions and come off as an earnest, flexible seller, you can serve as your best spokesperson. Be ready to answer would-be buyers’ questions about the neighborhood and area schools.
Bonus:
And of course, if you are interested in selling your house “As-Is”, hassle free, and on the date of your choice — without having a stream of buyers parade through your house and tie it up with contracts while their financing falls through — give us at Brighter Day Homes a call ASAP at 205-390-1050 or log on to www.WeBuyBham.com.