President Gerald Ford is credited with saying that "things are more like they are now than they've ever been." This is certainly true with real estate today.
Home values are dropping. Requirements for mortgage financing are stricter for buyers. Fewer are buying a home because they are afraid that they can't sell the one that they have. So how do I sell my home then?
First, don't panic. You have somewhere to live. It's important to remember that every market is different. In some, houses sit for over a year without a bite. In others, houses are gone in a week.
Second, get your home inspected and spruce it up before you begin showing it. Inspections will reveal problems that you can take care of before they are deal breakers. A little paint will do wonders to make your home memorable when it shows.
Third, create a marketing plan and interview real estate agents, if you plan to use one. A lonely sign in the yard won't help you. A good agent will offer creative strategies to get you the offer that you want.
Fourth, price your home to sell, not to dicker. This is not a time to ask for the moon. Be in line with your local market. You want a million dollars for your $100k home, but this kind of optimism will price yourself right out of any competition.
Fifth, it's okay to be your own advocate. Really. Tell people that you are selling your house. It's okay to put up your own flyers at the grocery store.
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