In an atmosphere where your home, your largest investment, has actually gone down in value instead of up, this is a difficult reality all of us in Oldham County have to face.
Yes, even Oldham County homes, an extremely sought after comunity just north of Louisville, has not managed to escape the depressed housing market.
For the first 18 years of selling homes in my own “back yard”, I was able to tell my Seller clients that they could count on between 3% and 6% yearly appreciation on their homes. Here in the Louisville metro area, we have not seen the huge peaks and valleys in home prices – just a conservative but dependable return on home purchases.
Not So Today. The Rules Have Changed.
If you need to sell your home this year, the rules of the selling game have changed. The bait you are throwing out there must be enticing enough to do much more than attract a few casual nibblers. You need to put out some very attractive lures that will make Buyers look up and take notice.
The message here is that you are in a competition: with the guy next door, and around the corner, and across the street, and in the neighboring subdivision.
What Does It Take To Be The Best?
What does it take to be the “Best Home” among your competitors? Well, if I can drop just one more metaphor: your home is in a beauty contest. Your home has to look gorgeous, smell wonderful, be dressed to the nines and send out that “You know you want me!” message.
Decorating Allowances Don’t Work Anymore.
Gone are the days when you can just offer “allowances” such as carpet, wallpaper removal, paint, landscaping, etc. That has never been the best idea anyway, and in this competitive market it just doesn’t work at all. (It can also cause issues with the lender as well.) If you truly need to sell, it is very important if you can spare the resources to do so, to invest the time and the money to put your very best foot forward.
On Your Mark! Get Set! Go!
So let your competitive nature break forth! Don’t let the guy down the street grab up your Buyer! By making sure your home is the most attractive, the most updated, the most competitively priced home in your neighborhood, you will create a sense of urgency among the pool of Buyers wanting the very best overall value. And who knows? You may even end up in a bidding war for your home.
Please tell me your success stories! I would love to know what you did to get your home ready to sell and how it worked to win over the Buyer.