How to List Your Home and Compete with Foreclosures
In this real estate market it is difficult for someone trying to sell their home. The main reason is the number of foreclosures sellers have to compete with. Fortunately the Cabot area does not have as many foreclosures for sale as many other areas. There still are several for sale and many buyers want to view them first to see if there is a good deal out there. Below are a few steps to take when listing your Cabot home to compete with foreclosures.
1. Find out the competition- Ask your Realtor to give you a list of all the foreclosures within $30,000 of what you rae going to list your home at. This will give you an idea of what you are up against. Be sure to get all of them in the Cabot area and not just in your subdivision.
2. Evaluate the Competition- Most of the time individual sellers are not going to be able to compete on the price of foreclosures. Focus on other highlights. The opposite of most foreclosures is a spotless house. If your home is priced higher, show buyers why when they walk in the door. Let them see there are no repairs to be done, no painting, and no cleaning. There are several other ways to compete with the foreclosures that a good real estate agent can point out once you see your competition.
3. Make your home easy to show- This is huge when competing with foreclosures. Foreclosed homes are vacant, therefore they can be shown any time with out a moments notice. You should make your home as easy to show as possible. In this market you need every showing you can get.
4. Be negotiable on the price- Right now nobody wants to pay full price. When you list your home be sure to have a little bit of a cushion to come down on the price. Even if it is a couple thousand dollars, it takes away the mental block of paying full price.
5. Be willing to do repairs- This is big, because banks sell foreclosures "as is". If you get an offer and they do the inspection and ask for repairs to be done, do them. Unless they are uncalled for and frivolous.
These are just a few things to consider when listing your home and competing against foreclosures in the Cabot area. If you are interested in Listing your home, visit www.cabot4sale.com to request a free home evaluation.