Loudoun Real Estate Blog

I recently read a great article by David Crook about selling a home on July 14, 2008 in The Wall Street Journal Online. He gave seven points to remember when a homeowner needs to sell their home.

1. It isn’t worth trying to wait out the market or to time the market.

2. Don’t spend a lot of money on big-ticket renovations but do make sure that everything is in good repair. It won’t necessary increase your price but it will help attract buyers.

3. Price your home cheaply. Forget what you THINK the house should be worth or what it was worth three years ago. You must set your price below comparable nearby properties. Look at the asking price of other comparable homes and set your price to beat them.

4. Hire the best, more aggressive listing agent you can find regardless of their commission.

5. Promote the property. The listing agent should pay for the usual marketing costs but oftentimes the seller may need to pay for additional marketing if required.

6. Play the banker. Consider seller financing if possible.

7. If any qualified buyer comes in with a reasonable offer, be prepared to accept it without countering.

To see the entire article you can go to

http://online.wsj.com/article_print/SB121553612650836199.html

Open Houses might expose your home to more than potential buyers. It may expose your home to a possible burglary. A Leesburg woman was recently charged with 34 crimes related to accusations that she used her position at a moving company to attend open houses and burglarize homes. There have been several homes burglarized in Loudoun County since November 2007 many of which resulted from an Open House.  See the full story here.  I am happy to do Open Houses for my clients but do not think it is the most effective way to sell homes. My job is to find the real estate agent that has a qualified and motivated buyer or to find a qualified and motivated buyer myself. The majority of the people who attend Open Houses are considering buying or selling in the future.