Written by Action Team Staff Thursday, 11 November 2010 20:20
Anyone who has attempted to sell their home in the past two years has learned a lot about the “dos and don’ts” of selling your home. In a very short time period, it seems, homes in neighborhoods across the country went from being slightly overvalued to grossly undervalued - a fact that can be attributed to a sharp rise in foreclosures and short sales.
Despite some very popular stimulus packages, including the Federal Home Buyers Tax Credit, even the best real estate in Colorado Springs has been known to sit on the market for several months. So what is a homeowner to do when the market is crowded and the buyers are few?
After interviewing experts from real estate research firms RealtyTrac and Zillow, Yahoo! Finance offers some excellent tips for selling your Colorado Springs home. Here are some highlights of the article.
- Work with a broker who has a sterling reputation in the Pikes Peak region. Remember, the best brokers are not necessarily the ones with the greatest number of listings. When you call one of these overloaded realtors, you usually end up working with a less experienced broker, or whoever in the office is available. (Find out more about Interviewing a Colorado Springs Realtor.)
- If you want to sell your home quickly, pricing it correctly is extremely important. When an appraisal shows that the home is worth less than the agreed-upon price, it is easy for a deal to fall apart. Stay one step ahead of potential buyers by knowing what your home is really worth. This includes getting market comps from comparable properties in the market, including foreclosures. Pricing your home too high in a neighborhood plagued by foreclosures may result in it sitting on the market for months.
- Don’t be afraid to request a new tax assessment from local authorities, based on the current value of your home. This is one of the most important tips for selling your Colorado Springs home, but many people neglect to do so. As prices have dropped, many homeowners are requesting lower tax assessments to make their property more attractive to potential buyers.
- Turn off the lights! When you sell your home, potential buyers will want to know how much to expect in utility bills. One way to keep them from getting “sticker shock” is by cutting back on electric and gas usage for a few months.
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