Sellers all over the Louisville – Southern Indiana area whose homes aren’t getting showings or offers are asking the Big Question – Where are the Buyers!
Well, here’s the answer (at least right now): They’re on hold! The latest info from the Greater Louisville Association of Realtors (Southern Indiana number are worse) show homes going under contract in June 2010 were down to 1119 from 1331 in June 2009 when the market wasn’t exactly popping’ either.
The average interest rates are so low right now 5.5-5.75 % you have to wonder why the slowdown in sales! The answer comes from the buyers and renters who are out there right now. I spoke to a renter this past Friday in depth, he told me he doesn’t know if he’ll have a job in 6-9 months. So even though he can afford to buy right now he wants to rent just in case. We can understand that it’s getting harder and harder for many Americans, to see the glass as half full…The oil washing onto the shores of the Gulf of Mexico, the war in Afghanistan and the continued reporting on the jobless rate has many people are scared.
Many weekend open houses are mostly empty, more serious buyers are taking what seems like years to decide on a home and, when they do, their offers so low that sellers don’t know how to counter reasonably.
None of us can say if the economy will improve. What we in the real estate biz do know is that most every seller can improve the odds of a satisfying, realistic sale by presenting a finished product for the here and now market.
So, here are10 Tips for Achieving Top Dollar in the Middle of the Pessimism Bubble:
10 Tips for Achieving Top Dollar in the Middle of the Pessimism Bubble:
1. Introduce your home to the market with as many recent updates as humanly possible. Clean carpet, Fresh paint, refinished wood floors and well-lit rooms are important details well worth exploring.
2. De-clutter your home to the point where a buyer asks “Does anyone actually live here?”
3. Replace old carpeting.
4. Clean out the basement, secure dangling wires, tune up systems, check for wood-destroying pest invasion and treat appropriately.
5. Make curb appeal a priority! That means trim bushes/trees, edge & mulch; consider outside painting and roofing updates where needed.
6. Check and upgrade (paint) and clean up the condition of your garage.
7. Stay ahead of the market when it comes to pricing.
8. Understand the power of “right pricing” – a cutting edge number that statistically brings in more buyers. If you miss that number, readjust as soon as possible or the market will leave you behind. Remember, some houses ARE selling fast — when the price is right.
9. Make sure you’ve followed up on staging the house for ultimate dramatic effect before each showing. That means turn on lights and music. Open Shades and blinds and let the light in. Pickup and put away toys.
10. For those of you reading this planning to list with a realtor demand professional photos, lots of them. In our area you want at least 20 good pictures on the internet, where you home will doubtlessly find its buyer, image is everything.
Search Louisville Real Estate by Neighborhood
- Louisville Real Estate home sales June 2010, By Bob Sokoler, www.weselllouisville.com
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