Selling Your Clovis Home? How to Compete with Foreclosures.

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Clovis Real Estate News

August 10th, 2009

If you’re thinking about selling your Clovis home you likely already know that your biggest challenge is competing with the glut of foreclosures and short sales on the market. Here’s 3 tips to help you compete with Clovis foreclosures when selling your Clovis home.

1. Price it Right. Without a doubt the biggest challenge you’ll face is sales price. Most foreclosures and short sales are priced 20-30% below market value. Like it or not, you’ll have to come to grips with this reality early in the process. Price is import — but it’s not always the deciding factor for home buyers. Nearly 1/3 of the homes sold in Clovis today are NOT foreclosures. That’s good news for you — but it means you still have to price your home competitively to attract those one-third of buyers to your home instead of other homes on the market. Tip #1: Figure out a realistic price.

2. Set Your Home Apart. Foreclosures typically aren’t the most attractive houses. Not only are they empty, they usually have stained carpet, holes in the wall, and need some sort of repair. You can use this to your advantage, set your property apart and give yourself an edge when sellers are comparing properties. For example, unless a buyer is strictly looking at price, the next most important factor is a home’s livability. A vacant home feels cold and sterile, while one that’s staged correctly has a warm, cozier feel that’s more attractive to would-be buyers. Tip #2: Put extra effort into staging and make your home the most attractive home on the market.

3. Move-in-Ready. Since most foreclosures need work and aren’t move-in-ready, they exclude a certain pool of buyers who need / are looking for a home they can move straight into. If you fix all of the little things (e.g., repair the leaky faucet, broken door handle, etc.) and present your home as flawlessly clean and well-maintained you’ll draw these buyers to your home. Rule #3. A a well-cared-for home will attract more buyers.

Summary. If you’re thinking about selling your Clovis homes, let us know. We’ll give you a realistic picture of your home’s value and whether you can sell it for the price you need.

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This entry was posted on Monday, August 10th, 2009 at 8:18 AM and is filed under Home Selling Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.