Selling Your Home During A Recession
An economic downturn or a recession is just a normal part of life that one should live with. It may affect your investments and business dealings but instead of worrying about it, things can be done to make a recession work to your advantage. House selling during a recession may require more work than when the market is at its peak. However, there are still plenty of people out there who need homes to live in and houses to provide for their families. Here are some suggestions on how to sell your house during a recession period. Let these tried and tested strategies help you rise up to the challenge and stand strong even when the real estate market is on a downward spin.
IMPROVE YOUR HOUSE APPEARANCE
Does the house look attractive enough for buyers to call you and schedule an appointment? Perhaps you need to improve the curb appeal of your house as well as its interior design. Plant flowers, cut grass and paint the fence. Likewise, renovate the interior if the home needs reworking. Check the kitchen and bathroom and make all necessary repairs. Clean the house, fix it, redesign it and make it look very attractive for buyers. Doing these things is absolutely essential in selling a home at a good price.
DO A MARKET RESEARCH
Don’t expect people to call you when your house is priced to high. When home buyers shop for houses, they usually look at several properties and yours may be crossed out of the list if your house is priced expensively. Thus, knowing what the current market rate is an advantage as well as pricing your house within the range that the market dictates.
INCREASE THE COMMISSION OF YOUR REAL ESTATE AGENT
This is a common trick that investors usually do when a particular property has been sitting in the market for too long. Instead of lowering the price of the house, investors would rather increase the spread of their real estate agents. You just might be surprised at how this can quickly sell your house.
INCLUDE FREE ITEMS WITH THE HOUSE
You can perhaps include a large flat screen TV with your house for sale or a golf cart when the house is near a golf course. You can also include a recreational vehicle, boat or motorcycle. What item do you think you have that you can add as a freebie to your house that’s for sale? Sell a house with something of great value so that buyers will be motivated to buy the property from you.
You can run ads in the papers, install a very visible “For Sale” sign in the front yard, distribute flyers, advertise the property in social networking sites and stage an open house. Market the property well and place ads that stand out in order to sell your house. Be creative in your sales pitch. Instead of writing “house for sale”, write instead “Hansel and Gretel Cottage” or “Shabby Chic Elegance in the City”.
A recession is not the time to be fearful of the real estate market but to be more creative in coming up with ways to sell your house. Even with a recession, people will always have the need to have a home to live in. Job relocation, sudden divorce, death in the family and many other factors can bring about a home buyer. So be imaginative in selling a home. Improve the house, offer additional benefits to your real estate agent and include valuable items in the sale. Selling your home during a recession can be done with creativity, perseverance and dedication.
Safe Home Selling Tips
I am sure you have heard about people being robbed and attacked when they have placed ads in the paper for everything from puppies to vehicles. Why do you think this cannot or has not happened to people selling their homes?
How many strangers have you given your home phone number or invited into your home?
This is what you do when you put your home phone number on a sign and place it on your front lawn or at the corner of your street. Then you invite a perfect stranger or strangers into your home where anything can happen.
Here are a few tips on protecting yourself in the event your would be buyer is not who you think he or she is.
FOR YOUR PERSONAL SECURITY REASONS
* Use your cell phone number on any for sale signs and indicate that it is a cell phone.
* If someone calls to set up a showing, NEVER tell them you will not be there at a certain time. This just sets you up for a burglary. Make an excuse that does not take you away from the residence such as you have company coming.
* Get as much information as you can over the phone from the “buyer” before you set up a showing.
* While your home is on the market remove your valuables and place them in a safe deposit box, a diversion safe or at the home of a trusted friend or relative.
* If you have a room or area full of valuables you cannot move, think about setting up a hidden camera.
* NEVER show the home alone. A “buyer” could bring several people with him/or her and you cannot keep tract of what they are doing. They could enter other parts of your residence and take small items or view personal papers.
* Which brings to mind, keep any checking account or other personal information out of sight.
* An inconspicuous self defense product such as a pepper spray pen, a stun gun cell phone, or at the least a personal electronic whistle would be a good idea just in case the “buyer/s” turn out to have criminal activity in mind.
* DO NOT sign anything without the advice of a good real estate attorney.
CONSIDER YOUR BUYERS INTEREST
- DO NOT BE EMOTIONALLY ATTACHED TO THE HOUSE
It is beneficial to detach yourself from your home. Being detached helps you look at the deal from a financial perspective rather than an emotional one. It is also a good idea to put yourself in the buyer’s shoes. If you think of your house as a dream rather than a piece of property, you will stage your home better.
2. DON’T SET AN UNREALISTIC PRICE:
Most owners tend to price their houses on the higher side. This discourages buyers. However, an accurate price can be set by analyzing the market. Sometimes setting a low price does help in attracting buyers.
- BEING STRICT ABOUT TIMINGS WITH BUYERS :
It is beneficial to be flexible with your timings when you are dealing with buyers. You should try to make yourself available when the buyer wants to view your home or meet you.
- BEING RIGID ABOUT THE PRICE:
Any buyer will look to negotiate and buy the property for a price lower than the quoted price. If you are rigid about your price, it will be difficult for you to sell. It is a good strategy to price it such that there is a margin to bargain.
Personally, I think it would be more prudent to leave the sale of probably your most valuable asset to a professional real estate agent. In any event, use caution and common sense.
Selling a home would seem to be a scary and voluminous process if you’re doing it for the first time. However, you’re opened to multiple options that will help you to sale at a better rate. Before you select the best option for you, decide what is important in the sale. Is it more important to get a higher price or to sell as quickly as possible; do you want control of the sale, or do you want someone else to handle the details; how much money can you afford to pay to locate a buyer?
This report is designed to help you evaluate your options, and make the best selection based on your individual needs and desires. It will provide you with tips for a faster sale, and show you the advantages and disadvantages of each alternative.
You should spend time reading this entire report, then sit down with any other decision makers to decide your best course of action. Remember, the only way to get your house sold is to start the process.
REASONS YOU MAY NEED TO SELL FAST
There are a variety of reasons that homeowners may require a quick sale of their home. You may have just found your “dream home” and you want to move fast before someone else snatches it away. Finding a buyer is hard and you don’t really want to bother with all those details.
Your boss may have decided that you must move to another location and it’s either: live out of a suitcase or sell your current home to buy another.
Another reason could be that home repairs are getting the best of you and you just can’t keep up with them all. Natural disasters are not always fully covered by insurance and those out-of-pocket expenses are eating you alive.
Do any of these sound familiar? If so, then it is time to follow through on your decision to sell. This report will help you make an informed decision.
TIPS FOR A QUICK SALE
Take a step back and look at your house from your buyers’ perspective. What do you see? Is it appealing? Would you have bought this house if it looked like this when you were buying? Walk across the street and look at your house. Is it attractive? Will buyers race to set an appointment to see the house, or race to get away?
The point is to make your house as appealing as possible. Fix it, paint it, clean it. Here are some tips to consider:
- Remove clutter. You want your house to appear as spacious as possible. The more clutter, the less spacious it appears.
- Are you afraid of your closets? Well, grab some trash bags, a few boxes, and then clean them out. Use a rummage sale, used clothing store, community donation center, resale shop, or just take stuff to the dump if it is no longer usable. You can organize your closets in such a way that they appear roomy by limiting the amount of clothing on the rods.
- Has the floor of your garage seen the light of day recently? If not, then it is time to do some serious hanging up, throwing out, and rearranging.
- Is there a side to your house that seems to collect stuff? If so, get rid of it. Make your entire yard a pleasant scene.
- Make sure your house is clean and organized before each showing to potential buyers. You’ll be amazed at all the stains, fingerprints, pet hair, and dust that have accumulated over the years. Have your entire house professionally cleaned. At the very least, have the carpets steam cleaned.
- Repair broken items so they do not become a concern for your prospective buyers.
- Remove personal items from walls and tables as these block buyers from seeing your home as their future home.
- Be sure that children’s rooms are kept neat and tidy. Remove posters of the walls, keep the beds made, closets cleaned, clothes in the hamper, and the floor clear with nothing lying around.
Ask Amina – Nobody does real estate better!
Buying a home in Edmonton?
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If you are ready to buy a home or even thinking of buying a home in Edmonton or it’s surrounding areas and are unsure of the process look no further, I am here to help…
You will be joining the ranks of hundreds of families who realize that home ownership offers a number of benefits including building equity, saving for the future and establishing a home your family they can call their own. Your hard-earned dollars contribute to your mortgage, not a landlord’s and over time your home will increase in value and the equity you earn is ultimately yours!
My “buying a home in Edmonton” guide will take you through a step by step process to help you determine the type of home ownership that is right for you. To make your home buying experience as pleasant as possible, I have included informative articles on mortgages, house hunting, making the offer, closing details, moving and much more.
Before you start thinking about buying a home in Edmonton, give some thought to your lifestyle, the features you need and want, affordability, and the neighborhoods you prefer. Determining the features that are most important to you will bring you closer to finding your perfect home.
Arranging a mortgage
Prior to buying a home in Edmonton, it is usually recommended to look into getting a pre-approval on a mortgage. As most people require a mortgage to purchase a home, this section explains mortgage types, terms and how to qualify.
Choosing a home is both an emotional and a financial decision for your future. By making the most out of your home viewing experience, you can learn how you can avoid costly errors that could lead to future problems.
Are you ready to put an offer on a home? This section explains the components of an offer and how it forms an essential part of your purchase.
Buying a home in Edmonton is more than simply picking your dream home. This section will explain the importance of hiring the right professionals to ensure you are legally protected.
Are you looking for tips and tricks on how to make your move more manageable? This section offers insights on how to make the most of your move.
Have a browse through the properties I have listed and lets get you through the process. Click here and lets start buying a home in Edmonton.
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