Archive for August, 2008

How Long Does It Take To Sell A House?

According to new research, many people underestimate the length of time it takes to sell their house.

48% of those surveyed thought that they would be able to sell their house relatively quickly – within three months.

The reality is different though, according to the National Association of Estate Agents. Its figures show that a fast house sale is not always possible through an estate agent, with the average time taken to sell your house around 16 weeks.

This has improved recently though – six months ago, the average house sale took 17 weeks from instruction to completion.

The national average is skewed slightly by the figures from the London area and the South East – in both areas people are able to sell their houses quickly due to the huge demand for property.

This means that property sales outside these areas aren’t so quick, and may often take longer than the 16 week average.

According to NAEA statistics for 2007, on average 43% of house sales are agreed relatively quickly, within one month of the property being put on sale. However, there is often a delay in completion of the sale, with 48% of completions taking a further two or three months.

For 13% of house sellers, the process is even more drawn out – taking between three and four months to complete after the initial agreement. This can be stressful for sellers as, until the deal is complete, the buyer could pull out at any time and leave them back at square one.

The NAEA stats revealed that nearly 9% of sales fell through in November 2006, and 7% for December.

Achieving a Quick Home Sale by Appealing to a Buyer’s Emotions

When you are after a quick home sale one of the most important things to realize about any future buyer, is that for them the decision to buy your home is more of an emotional decision than it is a logical one. Naturally the future buyers won’t throw out logic altogether, but it does mean that they will allow their emotion’s to influence the final decision making process more so than their logic. Therefore your home must appeal effectively to the buyer’s emotions as well as simply to their practical side. But how do you start to make your property appeal to the emotions of your potential buyers?

You’ll have heard the expression “the first impression is a lasting impression” – it’s true — therefore the first thing your future buyers are going to see is the front yard and the front of the home. So, the first big emotional ploy is to “give your front some grunt”. Realtor-speak for getting your first impression right is “creating curb appeal”. Great curb appeal gets your selling opportunity off to a flying start. If you can create the ‘wow factor’ from the outset, so that folks really start to anticipate that they are going to like your house you are already on a winning ticket. Right from the moment they first drive up to your home they will be hooked. Having a high curb appeal means that selling your home becomes a lot easier as buyers tend to overlook small things (their ‘emotions’ start to take over and resolve minor niggles that could otherwise have become potential ‘objections’ to purchase). The good news is that creating curb appeal is not all that hard:

First off, make sure your yard is kept ‘well manicured’ and appears tidy, clean and cared for. Neat edging of the driveway and sidewalks carries your prospect’s eyes right on up to the front door of your home. The front exterior walls of the home then become the next major focal point for your potential buyer..

Typically the buyers will be checking out the exterior walls and whether or not the place looks in good order. Therefore you need to ensure that the exterior walls, at least, have been power washed and if necessary given a fresh coat of paint. In fact color is high on the list of “key emotional triggers” and a major factor in creating great curb appeal. Choose colors with care for any repainting as it can make or break the “curb appeal” of your home.

Remember that you will be repainting for the future buyers not yourself. You will have to set aside your own personal taste and think in terms of what will appeal to a buyer. However, since you don’t know what any one prospect will like it is safest to choose what is known as a “universal color”. The color should blend well with the other homes in the neighborhood. It may be that the color that appealed to you when you bought the home was just perfect (it may even have been the trigger that led YOU to buy!). If you have been a bit ‘indulgent’ with any repaint in the interim, be prepared to go back to safe, sound, basic, light and simple colors that harmonize with the surroundings rather than fight against it, for a more certain positive appeal.

A simple way to help you select the right base colors and accent colors, for maximum “curb appeal” is to use a color matching chart. You can pick up a selection of such charts from most good paint or DIY stores. You could also take a sample of the original colors of your home down to your local paint store and, if they are worth their salt, they should also be able to advise you about the best contemporary colors and also help you to choose matching colors perfectly.

It is critical to maximize the “curb appeal” of your home as it is the first emotional trigger, or hot-button, that your prospect will be turned on by. Getting this right, like successful foreplay, will start to get your buyer panting for more, and if the interior of your property also continues to tickle-their-fancy in the right way, you could soon be en route to achieving that satisfying climax of a quick home sale.

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Why Market Your Home on the Internet

Selling Your Home Online

The world used to seem like a much larger place before the internet. It was not until the 1990’s the internet began to really gain momentum and break down national and international barriers. Technology, hard work, and initiative have revolutionized how we communicate, learn, and even shop. Thanks to the internet we can find out almost anything and connecting people has never been easier and more affordable. So when it comes to selling your home there is no better media to use than the world wide web.

Why Use the Internet?

The majority of United States households have a personal computer with internet access. When it comes to looking for a home over 70% of potential homebuyers will begin their search online. Not only can they look for potential homes but they can get preapproved for a home loan and even find a local real estate agent to help with the transaction. If the buyer is relocating from another state the internet becomes even more valuable because it allows for easy access to resources that are hard to obtain otherwise. So when it comes to selling your home, doing it online is a great place to start.

Advertise Your Home Online

There are plenty of resources to begin marketing your home online. Local newspapers and publications are a good starting place. If you plan on using a real estate agent they should also be able to assist in this area when selling your home. One of the main advantages of marketing your home online is the ability to advertise your home using colorful and informative pictures. Compared to print media the internet is cheap and you can put together a great slideshow that gives potential homebuyers a good impression and a detailed view of what your home looks like. A picture is worth a thousand words and you should always include the best ones. The biggest waste of time is coming across a home ad that doesn’t’ t have a picture. The picture says much more than the description ever does and it is the first thing to catch the eye of the buyer. Selling your home can be difficult at times but the internet can get help considerably if you use it to its fullest.

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How to Sell in a Slow Market

There are times when selling a real property home can be hard for many sellers. Some properties for sale can have a possibility of staying in the market for even more than 90 days, sometimes selling can also be hard even with a lower selling price had already been offered for the real estate property. The reason for this is because of the domino effect of the rate market and sub-prime rate being adjustable on the housing industry.

The lower rate of the housing sale causes the flooding of the available housing inventory pool but with declined values. This can be an advantage for the home buyers to choose what they want. Moreover, there will be more negotiating power for the buyer since more and more sellers want to dispose their homes even with the cheaper price. Sometimes the strain on more expenses caused by the increase in the number of home properties in the market available for sale, selling can be hard for the seller but easier for the buyer.

At this kind of selling scenario, a seller needs to learn other conventional way of selling the property they have up for sale to be bale to compete with the good price that can provide enough profit from the sale. A seller needs to approach the situation in a different way. Thinking out of the box will be the best way to come up with the creativity on selling of the real estate property.
These suggestions may help in your goal of making a sale in a very slow market situation.

- Property Staging

Try to make the home you are selling to look like it is occupied with the right furniture. This is the best way to stage your property for sale and provide a stage wherein the buyer can imagine how the home will look like when they finally move in. This can give better style and advantage in the way the buyer will be looking at your home. In addition, the impression of the property will surely be left on those prospective buyers who came and visit your property.

- Commission on sale for the sales agents.

Offering some percentage of the total sale amount of 7% or 10% will be a good idea for the sales agent to sell your property higher. This means higher commission for them for higher selling price deal they get for you. Moreover, they will be looking for real qualified buyers. The motivation will work wonders in the search for the right buyer.

- Selling financing offer will be a good way to encourage higher selling price for your home.
With a higher selling price for your home, you will be able to sell it in faster when you offer and compromise some financing offer for the buyer. The assistance you can offer in the terms will eliminate doubts in pushing through with the sale.

Article Source: http://EzineArticles.com/?expert=Sheila_Cristina_Santos

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