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Contact Val

Valerie Puddington
Coldwell Banker
10244 River Road
Potomac, MD 20854
Office: (301) 983-0200
Direct Phone: (301) 613-1833
Fax: (301) 983-1360
Email: valp@comcast.net

How to get your home sold

June 23rd, 2008 | Selling a Home | permalink

In this competitive real estate market, we have record numbers of homes for sale with foreclosures rising daily.  Last month in Montgomery County, we had almost 6000 homes listed for sale.  By the end of the month 892 home listings went under contract with over 1605 homes coming new on the market.  What this means is that there is a 7.5 month supply of homes on the market if nothing new comes on the market.

Home owners often ask me, “How can I get my home to sell in this extremely challenging market?”

My response to them is as follows:

1. Pricing – you must position your home to be either the best or the second best price in the range of homes in which you are competing.
2. Condition – you must have your property in top condition.  If not, make the proper improvements. Buyers will only buy a home that is it top condition.  Otherwise, they will choose properties that are in good condition. Buyers can and are being choosy in this environment. 
3. Curb Appeal – your home must be clean and neat. Clear the home of all clutter, personal affects such as pictures, etc.  and presented well. Remove wallpaper and ensure that all the colors are relatively neutral.
4. Incentives – make certain that your home is competitive with the market in regards to incentives, commission, etc  This ensures that your home will be shown first in comparison to competitive properties.
5. Be realistic – remove the emotion from the sale of your home.  Relate to your home as if it is a commodity.  The Buyer determines value when selling a commodity.  Would you want to keep a stock if it continues to decline in price?  Think of the sale of your home in the same manner.
6. Listen to your Real Estate professional – They have experience and education to help you in all aspects.  Not listening to your Real Estate professional is like going to the Doctor and refusing to follow his guidance.  It just doesn’t make good sense, doesn’t it?   
7. Re-positioning -Continue to evaluate the market every 2 week and position your home accordingly.  In this market it is all about price, price, price and price.

If you follow the previously mentioned points, your home will sell.