Patrick Duffy's Real Estate Blog

It can happen to even the best home. It has great curb appeal and the interior shows well. So, why isn’t it selling?

Even if your home is the best home in the neighborhood, it can still end up languishing on the market as others around it sell. So, what can you do to get your home sold?

Check Your Price

Being over priced, even by a relatively small amount, is the most common reason homes don’t sell.  The wrong price can prevent potential buyers from even looking at your home.  Keep your emotions out of the calculations.  Of course, you love your home and think it’s very valuable.  But, you need to look at it as an impartial outsider.  Examine the facts and figures presented by your real estate agent, and take his or her expert advice.  Price isn’t the only factor to consider.

Picture It

Homes marketed with only one or two photos are passed by. The more photos the better, but any old photos won’t do.  You need quality photos.  Consider hiring a professional real estate photographer, or work with a real estate agent who will get professional photographs for you.

Promote It Online

These days almost 80% of all buyers start their home search online.  Make sure your home is marketed on multiple websites to get the broadest possible exposure.  In addition to using multiple photos as mentioned above, a great online marketing tool is a virtual tour.  Ask your agent to create a professional virtual tour for your home.

Market it Everywhere

Advertise your home in as many ways and as many places as possible.  Here are a few ideas:

• Colorful flyers
• Home magazine ads
• Postcard mailings
• Emails to other agents and potential buyers

If you would like more information on how to get a stagnant home moving, give me a call today at 703-403-0536 or email me at patrick@usrlty.com.

LINKS:

languishing on the market: http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/6reasonsYourHomeIsntSelling.aspx

virtual tour:  http://en.wikipedia.org/wiki/Virtual_tour

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The new stimulus plan has given many people new hope for their housing futures. At first, many worried that the stimulus package would merely help the banks and other financial institutions and not the actual homeowner looking to buy a home.  But, it has become clear that the people who really win with the new plan are those who count—prospective home buyers.

Stimulus for Banks and Buyers

The stimulus package provides huge tax rebates in 2009, and while that is a limited provision, the savings are enormous for those who get out there and buy a new home. The fact that the stimulus plan includes relief for the struggling financial industry also helps buyers by making it more likely they will be able to obtain loans.

Stimulus for Luxury Properties

The stimulus package gives the two major government mortgage companies Fannie Mae and Freddie Mac more power and allows for larger loans for higher priced properties. That is a big incentive if you’re looking to buy in a major metropolitan area because you will now be able to get a loan secured by Fannie or Freddie.

The economic boost from the stimulus package will require a little time to really become apparent, but it is working, even now.  Slowly the market is rebounding and new home buyers are able to take advantage of loans and tax incentives while getting houses at prices that are extraordinarily low.

If you would like more information on how the stimulus package can help you buy a new home, give me a call at 703-403-0536 or email me at patrick@usrlty.com.

LINKS:

stimulus plan: http://www.reuters.com/article/businessNews/idUSN2532530920080125?feedType=RSS&feedName=businessNews

Fannie Mae and Freddie Mac: http://www.realtor.org/government_affairs/gapublic/american_recovery_reinvestment_act_home?lid=ronav0019#fannie

How the stimulus package can help you:  http://www.usatoday.com/money/economy/2009-02-12-stimulus-package-effects_N.htm

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