Considerations if you Want to Sell in Today's Ormond Beach Market

Sometimes in the flurry of economic news and job losses and foreclosure statistics, we forget that there are families who just want to move - who have a job offer in another location, or want to move closer to children or parents, or want a different scene. How do they sell their properties in this "short sale buyer's market?"

Here are a few tips for the seller who isn't "underwater" and has been current on his/her mortgage payments, but who has to compete with the "let's make a deal" mentality rampant in our market now.

1. It used to be location location - now it's Price Price and Price. This is probably your hardest decision as a seller because - in many cases - it means losing a lot of your equity. If you want to sell in today's market, you have an abundance of competition = supply & demand = price it to compete with your competition, even if they are lower (or much lower) than you think your house is worth. Pay for an appraisal, but better yet - call in a Realtor (I'm an expert at the Ormond Beach real estate market) who will give you a Comparative Market Analysis for free with up-to-date sales information in your neighborhood.

2. Adjust your thinking. Regardless of when you purchased, you want to sell now. Forget last year's prices, forget how much you wanted to "gain" from your home. You've made the decision to sell, so you will have to also make the decision to accept today's prices. You probably will have to make buyer concessions, or repairs, or help with a buyer's closing costs. If you can't accept the idea of these possibilities, maybe you should wait to sell.

3. Be realistic. Go through your home (you may have to ask an impartial observer to do this, like a Realtor) and be honest about repairs that are needed, outdated improvements such as countertops or carpet that a buyer will want replaced or for which they will reduce the price. Remember - there are plenty of competing sellers who will reduce their prices.

4. Be the very best you can be. Insure your Ormond Beach property will make the best first impression possible as buyers drive up. If you are in a condo, you can't control the building or hallways, but you can control what they see when they open the door. Clean the clutter, and clean some more. As an Ormond Beach real estate specialist, I can help advise you on exactly what you need to spruce up your real estate to realize the highest price possible.

5. Watch the market. If you see another property go on sale near yours, call your Realtor and make sure she/he visits it and reports back - if they have an open house, go yourself. Compare and be brutally honest with yourself. You may need to reduce your price.

6. Be optimistic. The new administration has set in motion many programs to entice buyers and to help them obtain mortgage financing. People are still buying; the Great American Dream is still to own a home. Do everything you can to make it yours that they buy.

If I sound like I'm experienced in selling real estate in the Ormond Beach market, I am. I've helped buyers and sellers from Breakaway Trails to Seabridge, from beachside to the Woodlands. Give me a call or send an email - no obligation, just great service.

Sherry Armstrong, Realtor
386-679-3191
sherry@sherryarmstrong.com
http://www.sherryarmstrong.com/
http://www.ormondbeachflhome.com/