So, you want to get your Colorado Springs home sold not you are NOT in foreclosure and current on payments.
We have all heard about the bargains available in the Colorado Springs Real Estate market...but do you really want to compete with their price?
Many sellers are discouraged with the news of the real estate market and have little hope of being successful in selling their home. Is this only perception or reality? Let's take a closer look!
The Colorado Springs real estate market certainly has it's share of foreclosures, bank owned homes, short sales. It sure seems like this current trend makes it impossible to sell, but what is often overlooked may be the very difference that helps "Regular" guys and gals who want to sell.
Distressed homes may appear to dominate the Colorado Springs Real Estate market because they are priced lower, seem like a bargain and are definitely receiving ALL of the hype in the media and news. How often do you hear about the downsides...almost never right?
Pitfalls of distressed homes include:
- Properties are sold "As-is" and in most instances their condition is sub par
- Financing these homes is difficult at best and won't be in acceptable condition for the appraiser's inspection
- Many lenders are unwilling to pay closing cost and most FHA and VA buyer's do not have enough money for a down payment AND their closing cost
- Buyer's of distressed homes often face multiple offer scenarios and when the bidding is done they are either outbid or end up paying more than they wanted to spend...and now they have to fix up the home and must deal with that expense too. TOTAL FRUSTRATION!
- Oh yeah who can forget the excruciating time it takes to find out that the short sale offer you had in was rejected or countered for more money
Getting the picture yet??
Now that we have ripped apart the beauty of distressed sales, lets flip the coin and look at what you must do to compete with them
Strategy to compete against Colorado Springs distressed homes. You MUST!:
- Update and clean. A fresh coat of paint (Neutral colors are best but avoid too much white as it looks too sterile), fixing any broken items, cleaning carpets and sprucing up the yard will go a long way. (Any questions on this will be answered to a simple visit to a sales office of a new home subdivision).
- Pricing the home to move will create demand. We just received 2 offers on the same day for one of our listings. Now who has the power? Pricing too high puts the power of no squarely with the buyer.
- Staging creates the feel of home. Furnished rooms are better than empty ones. Creating a "Wow" factor makes it easy for a buyer to choose your home
- Don't overstage. Doing too much like candles, music, cookies may seem impressive to the seller but will most likely be perceived by the buyer as an obvious sales pitch,
- Hire an aggressive agent with modern technology. Don't kid yourself, the agent makes the deal. Be sure that their technology is up to date. Like everything else, advertising mediums has a lifecycle. Print is out! SEO, blogs and informational advertising is in. It is where buyer's are seeking useful information to use while making a decision and it is how they will find their next home. Be ahead of the curve, not behind it.
Certainly there are finer points and additional things you must consider to be successful. For a free evaluation of your homes price and condition AND to get a list of competing distresses sale homes, contact William Szilagyi Williams HomeSellers www.WilliamsHomeSellers.com 719-646-2634
No comments:
Post a Comment