2008 Starts Strong Despite Slowdown

What’s The Market Doing Now?

While it is certainly disappointing and frustrating trying to sell a home, the news locally is much, much better than the national press would imply by their limited reporting. During the last 6 months of 2007 in the area north of I-635 to Hwy. 121, covering Richardson, Plano, Garland, Sachse, Rowlett & Wylie, we have experienced about 7,000 home sales. And these are existing homes. Builders have slowed considerably, removing much of the competition existing homes normally face during more vibrant markets.

What prevents homes from selling are conditional problems, ineffective marketing & pricing issues. Correcting and improving conditional items is the first area to focus on and will easily solve many pricing concerns. There are currently about 4 times as many homes on the market as what sell during their listing period, and this is not unusual even in really strong market conditions. So if you’re selling now, try putting yourself in a buyers’ shoes and look over the house carefully to eliminate even the smallest and seemingly insignificant challenge to buyers choosing yours from all the others they’re viewing. Remember, if you think it’s too much trouble to paint or repair, the buyer certainly will as well. Most folks don’t want to buy a home needing to do much before they can really enjoy their new home. Make it impossible for them not to buy.

Try starting from scratch and get a fresh start. Go through your home carefully, listing everything, then use that as a to-do list to be sure your home is as stellar as possible before launching your home on the market again.