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How to Sell your Home Quickly Even when Times are Bad?


Due to the economic slump that is being experienced around the country, many homeowners are finding it difficult to sell their homes. First-time and existing homebuyer tax credits have spurred some home sales, but not enough to completely remove the difficulty that many sellers have experienced. It is largely anticipated that foreclosures as well as short sales will continue to keep home prices stagnant throughout the remainder of the year. While there is little doubt that it will remain a buyer's market throughout the year that does not mean that you should completely give up hope if you need to sell your home quickly. There are a few things you can do to provide yourself with the best opportunity to move your home off the market despite the bleak economic times.

One of the most important things to keep in mind is not to wait for the market to turn around before you try to sell your home. The simple truth is that home values are not likely to turn around from the highs that were previously experienced, at least not for several more years. Some experts have predicted that it could take even a decade before we experience that kind of rebound. Although the reality is that you may well experience a loss if you sell now, if you have owned your home for quite some time, that negative figure could only be on paper.

Second, do not hesitate to make improvements to your home if you have the means to do so. Remember, there is a lot of competition on the market right now and trying to succeed with an as-is sale may not be the best option. When making upgrades to your home, focus on those areas that will provide you with the most bang for your buck, such as upgrades to the kitchen and bathrooms, particularly cabinets and counters. These types of upgrades will typically provide you with the highest returns. Before making any improvements, do make sure you obtain at least three estimates from reliable contractors and add in an additional 10% for any unexpected expenses.

Keep in mind as well that you should rely only on professionals to help you with selling your home. When marketing your home, you are working to sell the largest investment you will ever own in most cases. The real estate agent you work with should not only be highly experienced but should also have solid connections with industry professionals, lenders and agents. Always make sure that you ask for references, credentials as well as a history regarding the agent's recent performance.

The same also holds true for having your home appraised; something that you should seriously consider having done prior to receiving a contract on your home. Look for an appraiser who has a minimum of five year's experience and is appropriately certified or licensed.

It is also a good idea to consider obtaining a home warranty to attract more buyers to your home as well. This type of warranty will provide a buyer with protection and peace of mind against any unexpected mechanical system breakdowns during the first year they own the home. Such warranties can typically be purchased for just a few hundred dollars and can often make a real difference in attracting prospective buyers.

Seriously consider having your home professionally staged to provide it with the maximum appeal possible. There is a cost involved in this type of service if you hire a professional but many sellers find that home staging not only helps them to sell their home faster but also for more money, allowing them to more than recoup the investment they made in staging.

Be prepared to negotiate. Prospective buyers today are fully aware of market conditions and that they are in their favor, which means you need to be ready to deal on not only the price but other terms as well.

Finally, make sure that your listing is updated on a regular basis with in-season photos to position your home in the best light possible. Ensure that your home is listed on your real estate agent's website at the minimum and possibly even consider having a website or at least a blog or web page dedicated solely to your own home's listing. This is particularly important as approximately 80% of all homebuyers today begin their search online. Without online exposure you could very well be missing out on the opportunity to sell your home.


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