by Mark Johnston
Data released recently by the Land Registry showed that the average house price fell by 0.3% in August 2011.
Research has shown that the average property on currently on the market can now sit there for up to nine and a half weeks before even getting a viewing.
Hometrack data has revealed that the remaining buyers in the market at the moment are now making offers substantially below the original asking prices. Therefore some experts believe that if a sellers does not agree a sale soon they could ‘kiss’ goodbye to any offer over the winter months.
Some say a property’s value is only ever what someone else is willing to pay for it!
With on going competition for buyers, it is now more important than ever that sellers consider how best to market the property to achieve that all important sale. In a competitive market little touches can really make a difference.
It takes a lot more than sparkling windows, scented candles and chocolate chip cookies to sell a home in today’s market.
It is always worth gaining expertise in the selling process and this is where estate agents come in to play, they should be able to tell you the likely demand for your property, what price you may be able to achieve and also give an approximate length of time it may take to sell your property.
Statistics show that over 90% of homes sold are now firstly viewed over the internet prior to the potential buyer making an appointment to actually see the home. In matter of hours the potential buyer can view over 100 homes in their area of interest, therefore the photographs of your home are crucial, a professional photographer can take photos that enhance the property and make it look like a ‘show piece’ to the buyer.
Once the property is on the market sellers should consider ‘curb appeal’, which literally begins and finishes with the curb. It is no use cleaning the inside of a property if the outside is in a terrible mess.
Sellers should be aware that a clean well presented property is preferred by most buyers, ‘no one would by a dirty shirt, so why would they buy a dirty house’. Declutter and depersonalise the property as much as possible, clutter can make a room look smaller.
Next think about your target market, consider putting together a small pack of information for any prospective buyer, highlighting aspects that will be of interest to them, such as schools, colleges, transport links and entertainment venues.
After all this you are lucky enough to receive an offer on your property, firstly consider if the price is right and then what the buyers circumstances may be. While it is exciting to find a buyer, it is often the case that they may not be in a great financial position to buy or they may have an existing property to sell.
In either case do not withdraw your property from the market until you feel totally confident that the sale will go through. However in some cases the buyer will as for this as part of their offer, in which case all pros and cons need to be weigh up.
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