While politicians debate whether or not we're in a recession—and the Fed bails out Fannie Mae and Freddie Mac—the real estate market continues its long, agonizing downward slide.
Times are tough, even in historically hot real estate markets such as Las Vegas, San Francisco, Phoenix and Miami, where homes used to sell in a matter of days—often at well above asking price. Nowadays, houses stay on the market for weeks, even months, without selling.
And, unfortunately, it's the same everywhere: There's a huge—and growing—inventory of homes on the market with low prices, but few people are buying. So while the recession debate continues inside the D.C. beltway, there's no dispute that it's a tough time to sell a home.
Tough, but not impossible.
To sell a home in today's downtrodden market, you have to be willing to invest some time and sweat in prepping your place for sale. Long gone are the days of simply calling a realtor and waiting for buyers to outbid each other. So get proactive, and take these steps toward attracting serious buyers.
Reader Comments
5. RE: 5 Recession-Proof Tips to Sell Your Home
I just want to set peoples expectation correctly. I am Vice President and Corporate Broker of one of the largest homebuilders in the country. If you want agents to show your home and you have done all of the great tips mentioned its YOUR PRICE! Models homes have all they are talking about but it doesn’t matter if you are $20,000 - $40,000 over priced. Price is everything today. You are competing with the foreclosures. If you want your house to sell, price it to sell and it will sell guaranteed.
There are still lots of buyer who can qualify out there but they are looking for value. I have been in the business for 20 years and I closed 13 homes in the last 45 days. I hope this helps you understand the reason why people aren’t looking at your house after making the improvements.
If you rent you need to know what to look for, credit it not it. I would not recommend renting your house if you don’t know the way to size up people. I have had great tenants in 20 properties over the years with no problems.
4. RE: 5 Recession-Proof Tips to Sell Your Home
Website: www.fourcornersstaging.ca
These are very valuable tips for homeowners. To the homeowner in SW Okla: this market isn't like any other, but rest assured when it corrects all you've done will have been worth it and your home will quickly sell. When buyers reimerge and do their comparisons yours will stand out above the rest!
3. RE: 5 Recession-Proof Tips to Sell Your Home
We've done all these things and more to make our home more sellable....not only has it not sold, it hasn't even shown once in 60 days. Our realtor is supposedly one of the very best in the Country not just our town and has laid our everything he and it team have done to market our home. Still no luck. We live in SW OKla. that is supposed to be getting a 10-15 K influx of military personel from all base realignment program, problem is they can't sell their own homes where they are coming from so they are not looking to buy, they are looking to rent. No, we have absolutely no interest in renting our home, been there done that and the renters tore up that home where we ended up having to put several thousand additional $'s to repair it for selling it once again. I know it's frustrating for everyone these days but this is overwhelming....by the way, know anyone looking for an beautiful remodeled updated home...turnkey, super clean with great curbside appeal.
2. RE: 5 Recession-Proof Tips to Sell Your Home
I love the artical on recession-proof tips. On the #2Beautify the Interior,can you tell me what the wall color is please. I am re-doing my living area with some of the furniture colors you show. Thank you
1. RE: 5 Recession-Proof Tips to Sell Your Home
The funny thing is, after you go through all these steps, you might actually want to keep your house!