Wednesday, January 12, 2011

Resolutions for Home Sellers in 2011 -- http://wp.me/p146tm-ac

By listing in early January, you might be able to catch a few of those early birds who start browsing in the winter so that they can find a brand new home before school starts in the fall, said Louis Cammarosano, general manager of HomeGain.com, a real-estate website. In fact, lots of buyers tend to start their searches online right after Christmas, and continue throughout January and February, he said.

If your New Year's resolution involves selling a home in 2011, you've got some work to do: There's lots of stock out there and in a buyer's market like this one, getting an offer on a home can be challenging.

"If you hit the ground walking and you're a fresh listing that has completed everything right, you've got the best shot," said Cammarosano. Think about the following tips to give your home the best chance to get noticed -- and sold -- in 2011.

Price It Right from the Start

Lots of sellers suffer from attachment bias, said Tara-Nicholle Nelson, consumer educator for real-estate website Trulia.com. they think that their home is worth over they'd pay for it in another context. While it's always a bad idea to overprice a home, it's  dangerous in times like this because there is a lot competing stock in lots of local markets.

Nelson's advice: Give yourself a reality check by looking inside comparable homes in the work of open houses. That can help you receive a clearer idea of your home's value. You might even think about interviewing a few real-estate agents to get over one take on how the home ought to be priced, Cammarosano said.

Don't be afraid to advertise in the listing and advertising materials that it's not a foreclosure or short sale, Nelson said. In markets where distressed sales are plentiful, there's buyers who basically don't need to deal with the additional hassle and uncertainty of a short sale or bank-owned property, he said.

The longer something sits on the market, the more cost reductions you might must make and the more potential buyers will assume that there's something wrong with the home, he said. So usually, it's best not to try testing the waters with a higher cost, he adds.

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