While some real estate markets are experiencing increasing listing times and decreasing sales, others are still doing well or even booming.  Regardless of which applies, how do you position yourself for a quick, full-price sale?  Even in slow markets, some houses sell quite quickly, and it’s for the very same reasons that they would in a hot market.

The best performers these days are older homes with three bedrooms and two baths.  In addition to those features, they are priced a few thousand dollars below the area’s average asking price. 

You won’t consider competitive pricing a concession when offers come in more quickly and with less negotiation.  Peace of mind and a quick sale are more than worth the difference between your asking price and that of your competition.

The second common denominator among successful sales in slow markets is the fact that the properties show like model homes.  Sure, location is critical, but it’s condition, condition, condition that helps to set your offering apart from other homes on the market at the same price.

The final factor that these sales share is aggressive marketing by a REALTOR®.  A professional who shows your home to an already qualified and motivated group of buyers is worth his or her weight in gold at the closing table. Combine price, condition, and marketing for a satisfying sales result!

Call me if you need assistance with your real estate decisions. If you prefer, Email me at donkingsley@kingsleyrealestate.com. I will be happy to share my knowledge with you at no cost or obligation.

The Johnson’s had a problem — a leaky roof.  Now that their home was about to be up for sale, Mr. Johnson arranged to have it repaired.  Good thinking, Johnson — almost!

After the job was finished at great expense, the yellow water stain still remained on the ceiling.  Mr. Johnson thought he had already spent enough on the roof and any prospect would believe him when he showed the repair bill.

The old adage of being “penny-wise and pound-foolish” bore fruit.  Each prospect asked about the stain.  The receipted bill never quite put their minds at ease.  One structural problem in a home is a red flag waving  and warning — “Don’t get involved with this headache.”

Fortunately, for the price of a restaurant dinner, the ceiling was repainted.  It was finally sold, but only after too many of the best prospects had gone on to other properties.  The moral is obvious.  The fewer apologies you have to make for your property, the easier it is to sell.  If you have any obvious red flags waving  — remove them!

There is another reason to take care of conspicuous repair work.  When a potential buyer sees obvious things that have not been taken care of (i.e. porch steps, unpainted front porch, stained walls and ceilings), they begin to wonder about the state of repair of the “not-so-obvious” items, such as the furnace, hot water heater, septic system, plumbing leaks, etc.

In most cases, $1 spent in repairing a deferred maintenance item will return $3 to $4 when you sell.

Call me if you need assistance with your real estate needs.  If you prefer, email me at donkingsley@kingsleyrealestate.com.  I will be happy to share my knowledge with you at no cost or obligation.

TIMING ISN’T EVERYTHING!

In light of declining sales and tougher loan requirements, many potential buyers are asking if they should buy now, or wait several months before moving forward with a decision. The thing is, you can’t time the real estate market any more than you can time the stock market. Simply put, the best time to buy is simply when you need to do so.

Start searching now, targeting your preferred locations and getting a sense of the local trends. Speak with local realty professionals to gauge listing times, list-to-sale ratios, and contract terms. There’s no such thing as a “national” market, and every area is going through its own adjustments, up or down.

Now isn’t a bad time to begin your loan search as well, to determine how much home you can afford, and to start assembling the required paperwork. If you’re not pressured to move right now, securing loan pre-approval will give you the chance to immediately take advantage if an excellent purchase opportunity appears.

Owners, who are pressured to sell for reasons like foreclosure or job relocation, may be more willing to negotiate, but if you really love a particular home, don’t lose it by haggling over a few thousand dollars. A home is not a stock certificate. In a buyers market, do your homework, and make the most of it.

Call me if you need assistance with your real estate decisions. If you prefer, Email me at donkingsley@kingsleyrealestate.com. I will be happy to share my knowledge with you at no cost or obligation.