Competing With Lender Owned and Short Sales in Today’s Real Estate Market

Competing With Lender Owned and Short Sales in Today's Real Estate MarketIf you are a “traditional” seller trying to sell a home in the Phoenix Arizona area, you already know that this an extremely challenging time. So what can a “traditional” seller do to successfully market their property and remain competitive with foreclosures and short sales in the neighborhood:

1. Price the home appropriate to where your specific market is currently selling. Your Realtor can provide you with good comparative sales data for your area. Price your home according to those which have sold only.

2. Many foreclosed and short sale homes aren’t in good repair, so be certain your home is in tip-top shape.

3. Most foreclosures or short sales are being sold “as-is”. It is a good idea to get your home inspected before putting it on the market so you will know what challenges you may face. You can fix problems in advance and a buyer feels very comfortable knowing in advance the condition of a house they will make an offer on.

You can also offer a home warranty and termite inspection certificate. Most bank-owned properties are vacant and cold. Make certain your home is clutter-free, clean and appears inviting. Who is likely to buy your house? Appeal to that demographic. When someone falls in love with a home they cannot get it out of their head. Make sure it is your house they feel that way about! Overpricing your home in the current market will cause it to sit unsold for a long time and consequently delay any move you anticipate making, indefinitely. As in all housing markets, price and condition are paramount!

Today, you must win the price war and the beauty contest! More than ever before, acquiring an experienced Real Estate professional, will pay dividends in assisting you in getting your home SOLD. If you, friends or family is considering buying, selling or renting a home in the Metro Phoenix area, I would love to hear from you!