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Steps to Take When Your Property Won't Sell

The real estate market is a balancing act. After a period of red hot sales, we are now in the cold, cold winter of the market. If you are selling, you probably know this as you home is sitting on the market. Is there anything you can do to generate interest?

When a real estate market goes cold, it can seem like there are no homes being sold at all. This is incorrect. There is just a lot of competition for the attention of a small pool of buyers. To get their attention, you need to do some unique things.

Location, location, location. It is the first rule of real estate. Many sellers make the mistake of not playing up the positives of their community. Don't make this mistake. Note the quality schools, low crime rate and so on. Play it up!

When selling your neighborhood, you also have to account for the problem areas. You know, that one neighbor. A simple strategy is to offer to pay for their landscaping and so on. You'll recover the money on the sale of your home.

The next bit of advice has to do with pricing. You need to objectively evaluate comparable homes around you. Identify the homes that are similar to yours in size, quality and so on. Now, adjust your price to the bottom end of their prices.

Obviously, the comparable homes in a neighborhood are not all the same. If yours is slightly better, pricing at the lower end of the listing range can be hard. Do it! Most sellers will group the homes together and not notice your fine points.

What if you just can't bear to lower the price? Are you out of luck? Not necessarily. If there is some definite reason you should be priced higher than comparable homes, then it is okay. You absolutely must emphasize this in your marketing material, however.

If your price isn't low, you can try to make up for it with favorable terms for your buyers. Specifically, offer to help them by carrying a second note on the property or providing some other nugget that will make them bite on the property.

Framing your home with landscaping can make a world of difference to buyers. A common investment strategy with apartments is to buy a property, plant trees, bushes and the like and then resell it of a profit. You can do the same with your home.

Regardless, there are a couple quick fixes that are cheap and will help. Fix and clean the driveway. Clean up the landscaping. Paint the front, particularly around windows. Get rid of all that clutter in your house. Basically, you need to give your home a buffing.

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Hal James writes about issues faced by FSBO sellers for FSBOAmerica.org, where you can get a free one month listing to sell your home by owner and get more real estate tips. Don't reprint this article. Instead, reprint a free unique content version of this same article.

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