real estate

Selling against a foreclosure

 

 

Anchor Intro: Foreclosures and short-sales can be competition killers for those looking to sale their home in the current real estate market. But there's hope ... in fact, savvy sellers actually have an edge in a strong buyer's market.

Take VO:

Topping the savvy seller list is to market your home as up-to-date on mortgage payments ... which means ease of purchase for the buyer, with no title issues and a quick closing.

Take SOT: Amy Simmonds (:30-: 48)

"A lot of times now, a retail priced home is not that different than a bank-owned property or a short-sale like it used to be. So, the price differential might really be worth it for someone who wants to deal with human-being's, doesn't want to wait 3, to 4, to 5 to 6 months ... and they know the house is going to be well maintained."

Continue VO: In today's market, there are price points that are all over the place for the same property ... and savvy sellers will need to provide their own market analysis ... by examining the highs and lows of comparable homes ... to meet in the middle on price.

Take SOT: (5:24-5:36)

"You don't want to out-price the house and you don't want to price it so low that you're missing out on an opportunity on the retail market ... because of the conveniences that a buyer will have on a retail sale versus a foreclosed property."

Continue VO: Many buyers don't have a clue about what it takes to buy a foreclosure or short-sale. Retail home sellers can enlighten buyers about the risk factor in buying a property that hasn't been maintained, the costly repairs that could come with it and the possibility of liens and title issues.

Finally, one aspect alone can make a home fly off the market ... and that's making it the prettiest home on the block. By dropping money into landscaping, staging and having it spotlessly cleaned, a buyer can better imagine themselves in the home ... which equals a sale for you!

TAG: To learn more, visit Bankrate.com's 2011 spring mortgage trends.

 

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