Editorial

Front Page - Friday, January 29, 2010

Real Estate Facts

Strength in numbers

Elwynn Schwartz

Selling your home in anything other than an active market can seem challenging, but what do you do when yours is only one of many homes in your neighborhood with For Sale signs? Surprisingly, there are actually some advantages to marketing your home in this situation.
More buyers are drawn to neighborhoods where they can preview more homes at once. More buyers means more opportunities for your home to be seen and to attract an offer, so make your listing stand out against your competition.
Price your home aggressively after reviewing the comparable sales figures provided by your real estate representative. Don’t give your neighbors the advantage of looking like a bargain compared to your listing – take it yourself and show buyers what a great value you’re offering. If you're competing against foreclosure listings, having your home in “move in” condition helps, because foreclosures often need lots of repairs.
With this much activity in the neighborhood, make sure that your home is available for showing on literally a moment’s notice. Buyers who come to look at other listings may spot yours and want to see it right away to make comparisons. Be prepared for “impulse” prospects with good housekeeping and an escape plan for unexpected showings.
Finally, don’t worry if your neighbor sells first – that just makes for less competition in your market!
Elwynn Schwartz is the owner of Chattanooga Real Estate Consultants and may be reached at 423-894-3050.

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