Selling Your Home: How to compete with foreclosures

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News about the enormous amount of foreclosured or short sale homes on the market is everywhere.  In fact, we regularly blog and comment on many issues and opportunities surrounding the foreclosure market in metro Atlanta. For anyone buying a home, the vast amount of foreclosure and short sale homes on the market equals higher leveraging power and drastically reduced home prices. In short, it is definitely a buyer’s market.

However, in this blog we want address individuals currently selling their home that is not in foreclosure or a short sale. In today’s volatile economic climate and uncertain real estate market, this is a sub category in the market that does not get the attention that it deserves. If you are selling a home in today’s real estate market, and your home is not being sold as a foreclosure or short sale, how can you compete with the incredibly low prices that the foreclosure properties bring? The answer is: Make your home pristine.

Making your home as desirable and pristine as possible has always been important, but under the current real estate market conditions, if your home is not in absolutely amazing condition it will simply not compete with the extensive foreclosure and short sale homes in metro Atlanta’s real estate catalogue. In general, foreclosed or short sale homes typically need a lot more work or investments added before the buyer can move in or put the house on a property management program. The key to selling your home in this market and to adequately compete with the saturated foreclosure market is to make your home literally move in ready. From paint to carpet and even landscaping, everything must be perfect. Often times a buyer will be willing to pay more money to have a home that is in great condition and move in ready as opposed to a cheaper home that has not been well maintained and might need extra investment, as is the case with many foreclosures.

Also, it is important to note that if you are looking to invest in improvements in your home to help boost the re-sale value or likelihood that your home will sell in a timely manner, it is advisable that you do research and find out the trends of what buyers are looking for in your particular area or neighborhood. Paige Slyman is an expert advising clients on various tactics and home improvement suggestions that will earn you top dollar and increase the likelihood of a reduced market time based on what buyers are looking for in your specific area.

In closing, while it is definitely a buyer’s market and foreclosured and short sale homes are getting a lot of attention in the media and real estate blogs, buyers are still willing and often times prefer to buy a well maintained home that is not a foreclosure. Consult with Paige Slyman to learn more about how you can better compete with other homes, including foreclosure or short sales on the metro Atlanta market.

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