Decrease the Sale Time Required for Your Property

March 20, 2009 by  
Filed under Real Estate Investing

Housing markets that are rising make selling a home quite easy – profits are big, and buyers are everywhere, knocking on doors and scrambling to get in to the property of their dreams. However, housing goes through its own cycle as well, and may level off, creating multiple ‘For Sale’ signs to seem to be permanent fixtures in the area.

There are some viable options for a seller who absolutely must sell during a down market for some reason. Many sellers actually think the sale of their property is pressing when it isn’t. First, ensure you’re concerned for good reason; if not, just take the sign down and wait for the market to come back in the next several months.

Acceptable offers during the down times may still be solicited however, by using your head and putting yourself in the buyer’s shoes. Are there any types of improvement which might increase the value and attract more buyers? Install that fence or back patio, put in new floors and cabinets and paint the walls for a new, clean look. You can always take a how-to course to learn to do these on your own and rent the tools. All you have is time, so don’t get in a hurry – just do what needs to be done without spending more than you can recoup when it’s time to accept an offer.

Worn throw rugs should be replaced and carpets cleaned, and you can always repaint the exterior and plant some flowers with a little time and effort. Repair any bare spots in the lawn with sod or grass seed, and order more gravel for that driveway. The outside of your home is the first part that any buyer will see first, so the better it looks the more apt they are to request a showing appointment.

Now, look at your neighbors’ properties and see how they reflect on your home. Are the lawns overgrown and shrubs in need of trimming? Is there trash alongside the road? Clean up any trash that has blown from a stray trash collector, and either offer to work on your neighbors’ lawns or kindly ask them to. If you explain your situation, they are more likely to oblige you; you could also offer them a small reward if the house sells in a reasonable amount of time in return.

Always check and recheck local market prices to ensure you’re not asking a ridiculous sum. Are prices falling but yours is holding steady? You’ll have to periodically adjust your price to stay in line with this, or buyers won’t even look at a picture of your home.

Finally, do a little extra marketing in your spare time. Even if you’re listed with a real estate agent, post an ad online and in local newspapers to find the buyers who may have missed you. With a little dedication and patience, your home will sell for a reasonable price; you just may have to live there a little longer than originally planned, but in the grand scheme of things it’s always short!