For those who believe everything they hear in the media and think that the housing market is at a complete stand still, I have some news. There are many homes that are selling, and selling quickly. They simply fit into one of two categories.
Well-presented, or Very well-priced.
Or, preferably – both.
Some of my buyer clients have recently run into extremely competitive situations resulting in multiple offer scenarios. I have found myself resorting back to techniques that were used during the boom periods to have their offers brought to the top of the pile. These include writing letters defining their current and past employment situations, and descriptions of exactly – what nice families they are.
What is causing this type of competition in a down market?
These are basically sellers who have smart Realtors® and they are taking their advice. Before the home is put in the market, the agent goes through the property and points out areas that need improvement. As a result:
— Interiors are getting a fresh coat of paint. — The home is immaculately cleaned. — Any deferred maintenance is immediately taken care of. — Repairs are being made. — Out-of-date décor such as flowered wall paper is being removed. — New kitchen counters are being installed. — The exterior is repainted, in necessary. — But most importantly, the home is priced correctly.
Perfect homes, of course are not the only houses that are selling. Foreclosures, estate sales and properties that need freshening but do not have the resources to do so are also sometimes generating multiple offers. The key is – they must be priced to sell.
The message here is that, even in this difficult market, there are houses that are coming on and selling on the first day they are listed. The secret – and this should not be much of a secret – is: Listen to your Realtor®!
Copyright 2011 “What Types of Homes are Selling Right Now? Perfect Ones!” Claudette Millette, Broker, Owner, The Buyers’ Counsel – (508) 881-6230