Thursday, April 29, 2010

Selling in a Soft Market

For the past few weeks, our real estate market has been as busy as the old days, at least in the lower price ranges. Now, however, the $8,000 tax credit for first time buyers is expiring and most observers believe that the market will return to its previous state of hibernation.

If market activity declines, there will be some sellers left out in the cold. The question for them becomes; if I absolutely have to sell and the market is down, what can I do to find a buyer? The answer for these "must sell" situations is very aggresive marketing. No matter how overloaded and inactive the market becomes, there will still be some homes sold and the task for a desperate seller is to position their property to be one of those sales.

The formula is simple. The property must be priced at or below comparable homes. If there is only one buyer in your neighborhood and price range, your property must be the best deal.

Jim Acker

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