Tuesday, August 9, 2011

Price, package, patience keys for selling in today's market

by Broderick Perkins
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Deadline Newsroom - If you aren't willing to price your home to compete with distressed properties and package it to look like a good flip, you may be better off being patient and holding it off the market until you can get the price you really want.

Sellers forced to sell their home right now are getting creamed.

One of every six real estate agents (about 17 percent) the National Association of Realtors (NAR) polled in June reported signed contracts were cancelled before the close of escrow. That was way up from only one in 25 agents (4 percent) in May suffering cancellations and over the past 16 months, the rate of cancellations has only be 8 to 10 percent, according to NAR's June resale homes report.

It's a buyers market, but buyers aren't buying it, either because they can't hack stiff underwriting requirements or appraisals are coming in too low for lenders to risk financing.

Get the full story here: Home Sellers Fight an Uphill Battle

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Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

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