Pricing, Beauty Keys To Selling Home In Improving Market
POSTED: Thursday, July 17, 2008
UPDATED: 11:48 pm EDT July 18,
2008
ORLANDO, Fla. -- The Orlando housing market is beginning to stabilize, but it's not improving quickly enough for people who have a house that has to sell now.However, the right pricing and improvements can maximize a home's potential to be sold.The Local 6 report featured a three-bedroom, two-bath home in Orlando's Almond Tree subdivision.When the Howe family put its home on the market, it listed it at $425,000.The family's Realtor, Art Kent of ReMax Town Centre, told them the price needed to come down -- even though homes in the same neighborhood were selling for mid-$400,000 and even low $500,000 prices a few years ago."What their home was worth when they bought it doesn't matter and what their home was worth two years ago doesn't matter," Kent said.In fact, if homeowners have to sell now, pricing a home on the cheap end of comps is really the only option, Local 6's Steven Cooper said."You come to me and say, 'I've got to sell my home now; I have a three-bedroom, two-bath home in XYZ subdivision,' I pull up the records in that subdivision and I see there are prices from $275,000 all the way down to $225,000. All right, you're going to have to be ready if you want a quick sale to be in competition with that $225,000," Kent said.And price alone is not the only consideration."It's a price war, and it's a beauty contest," Kent said.Cooper said homeowners should dress their homes and consider low-cost home projects that make a difference.Also, homeowners should consider new carpet in areas that are beyond a good shampoo and get rid of clutter."If your house is in the market for $250,000 and there's another house two neighborhoods over for $250,000 and it's in perfect condition and yours is shabby, which one would you buy?" Kent said.After improving the home, residents still need to market it, the report said.Cooper suggested shopping for an aggressive Realtor and compare marketing plans. Also, before hiring a real-estate agent look at his or her presence on the Internet. They should be on Tulia, Zillow, Cyberhomes, Realtor.com and others.Also, Cooper advised asking a Realtor to take a cut in commission, offering the difference to the buyer's agent.Watch Local 6 News for more on this story.
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