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Tips on selling your home in a slow market

If a for-sale sign is planted on your front lawn, it’s likely no surprise to you that home sales are slow. Sales of existing homes plunged 8.0 percent in September from the previous month, and stood at 19.1 percent below sales in September 2006, according to the latest figures from the National Association of Realtors. The national median price for existing homes of all types was $211,700 in September, down 4.2 percent from the $220,900 median a year earlier.

At the end of September, there were 4.40 million existing homes on the market, which NAR says represents at 10.5 month supply at the current sales pace. In a dismal market like this, what does it take to clinch a sale? Real estate experts say that sellers need to set a realistic price and be prepared for some hardball negotiating.

Consumer Reports Money Adviser offers the following tips to help your home stand apart from all the others on the market:

  • Pick the right broker.  Look for agents who are listing, marketing, and selling in your area even if the market is slow. Visit potential brokers’ open houses to make sure they greet people, and show the home at its best, including details like removing pets.
  • Know the real prices. To negotiate effectively you need to know if if deals in your area tend to include sweeteners. A house may sell for $400,000, but if the owner gave a 3 percent credit for deck repair and a new furnace, that’s a $12,000 reduction. Your real-estate agent should revise your deal to reflect what’s happening in your local market.
  • Use staging to enhance your home’s appeal. A professional home stager can make over your home to de-emphasize your taste and make it more appealing to a broad range of buyers. A two-hour consultation can run around $300. Find staging pros in your area at www.stagedhomes.com or www.homestagingresource.com.
  • Keep your MLS listing current. If it’s December and the picture of your house on the Multiple Listing Service shows your hydrangeas in full bloom, it’s a dead give away that your home has been on the market for awhile–and potential buyers may look elsewhere.

About Jeffrey Simons
For the last 14 amazing years, I have consistently helped entry level buyers, distressed homeowners (short sales) and move up home owners as a trusted adviser. I work with a highly competent, high tech, focused group of business professionals which include a very knowledgeable mortgage consultant offering 29 years of expertise and experience, a tenacious escrow officer, the most experience title representative I have ever met, in addition to an extremely well rounded inspector, a real estate appraiser, and an incredible transaction coordinator. My teams ultimate and only goal is to make your move enjoyable and memorable. I specialize in Anaheim Hills and the surrounding cities throughout the magnificent communities of North Orange County.