More and more home owners are trying to find ways to compete with foreclosed properties and deep builder discounts. Besides making it look pretty, price it to sell. The McAllister's, a couple who recently put their 1917 Craftsman-style home on the market with renovations, artwork and beautiful furnishings received three offers within two days of listing their home. The home owners felt that any investment put into their home to help it sell quicker was made up with peace of mind.
Pricing a home to move may sound obvious, but some home owners may not be fully aware of how important it really is. "Distressed Properties," including foreclosures and homes at risk of foreclosure, accounted for 32% of fourth quarter transactions, according to a report out Thursday from the National Association of Realtors. There is just too much inventory available for buyers to "pick through". If the home owner does not have the funds available to make improvements on their home, they should really consider their bottom line and set the list price accordingly to increase traffic and bring in orders within the first 30 days.
If home owners want to compete against foreclosures, offer all of the things a foreclosure does not offer buyers. Aesthetically speaking, foreclosures often have cosmetic work to be done. If the home owner walls are in need of painting, the carpet is worn and the landscape is in need of attention, the foreclosure wins. Ask for a tour of competing homes and specifically foreclosures and short sales in your market area. Know what the buyer is seeing and what your competition looks like.
http://www.charlotterealestateforeclosures.com/00522E
