 Today's real estate as we all know, is a Seller's Market.
Prior to 2013, the real estate market in most areas were inundated by foreclosures and short sales. There were so many homes to find and so many choices to make for the current home buyer. Most home owners and former real estate investors who bought a couple of years ago, had frantically unloaded most of their real estate inventory. On top of it, the nearby home for sale could be another foreclosure or short sale. Home prices had not only gone down considerably, but there were more inventories of unsold short sale homes that had clogged the market. So is there hope for the regular home seller? Yes! The first quarter of 2013 ushers in with a decline in home listing inventories and a growing demand for more homes. The real estate market is now turning into a hot seller's market and this is good news for regular home sellers. Regular sales are still very much sought after by most real estate agents and buyers. There are more buyers now who have grown familiar with the long wait and unpredictability of short sales. Foreclosures, have almost disappeared nowadays, due to the fact that home buyers are competing with investors or all-cash buyers. Some home buyers have grown weary of losing out on investors and all-cash buyers who find foreclosures quite attractive. Also, most foreclosures may not even qualify for a FHA loan program due to the condition of the abandoned property, as most distressed homes have deferred maintenance or in disarray. This is the niche for most regular home sellers. Home buyers who does not have the patience, nor stamina to compete with hundreds of investors out there vying for short sales and REOs, are going for regular sales. First thing to remember, is make sure to hire an experienced real estate professional who can assist in the home selling process. This is where experience, negotiation skills, excellent marketing strategies, knowledge of current real estate market trends, and county/city selling mandatory requirements becomes very valuable. An experienced real estate agent can determine the right pricing and marketing strategy in order to sell the home in a shorter time. The presence of a specialist can also expedite the sale much quicker, and less risky for the average seller. A local and experienced real estate agent can help sellers in making sure that all county and city selling requirements are complied to before marketing or selling a home. Also, most real estate agents have a network of fellow agents and regular buyers, as well as a variety of marketing venues to give maximum exposure to the subject property. When negotiating with buyers, it is best to leave the headaches to the specialist, preferably a Realtor, who have years of training and experience in the selling process. Some basic steps in selling a home: 1. Hire a licensed and qualified real estate agent 2. Prepare the home, by removing all unnecessary clutter. Clean the home as much as possible. Make some necessary repairs, if need be. 3. Hire a Home inspector or Pest Control inspector if necessary. Who to hire? Your agent can advise you on this. 4. Try to listen to good advice and recommendation from your real estate agent. Real estate agents are specialists in the field of selling real estate. Some sellers seem to know better than the specialist, and this often makes the marketing process stressful, and may delay getting your home sold! If by any chance, the seller does not feel confident of the real estate agent's advices, then hire another agent! Always remember, hire a real estate agent that you are comfortable working with. This will eliminate needless headaches, and stress in selling the home!
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