Saw an article in INTERNATIONAL BUSINESS TIMES that related to our recent post on Selling a Home in Florida.
In today’s challenging U.S. housing sector, are there ways prospective home sellers can make their home more-likely to sell? Below are 5 suggested tips from the piece…
The National Association of Realtors reported that June U.S. existing home sales unexpectedly fell 0.8% to a seasonally-adjusted annual rate of 4.8 million units, down from May’s 5.23-million-unit rate. A Bloomberg survey had expected existing home sales to rise to a 4.9-million-unit rate in June.
Equally significant, home inventories rose to an 9.5-month supply in June at the current sales pace, up from May’s 9.1-month supply. A healthy housing market typically has a 3-5 month supply of existing homes.
1. Incentives – In this market, it’s all about distinguishing your home from the pack, in a good-kind-of-way.
You’d be amazed at how many potential buyers will attend your open house, just due to the incentives.
2. Enhanced Marketing – The social media presence will enhance your real estate agent’s marketing operation.
3. Self-finance – This obviously is not an option for all home sellers but can work for some.
4. Lease It – Again, for some home sellers, this is not practical, but if you can, consider leasing the home for 1 year or longer. The advantage is obvious enough: leasing extends your home sales window, and when the lease expires, U.S. housing market conditions may have improved. Some sellers are leasing their home for even less than their monthly mortgage payment: in the long run, if home sales rebound, they should recoup their month-to-month loss.
5. Lower the Price – Obviously consult your realtor.
Good luck – and please let us know if you would like us to help you sell your Florida property.
For perspective, British Home Sales, our Orlando-based Estate Agency, sold more Florida villas in the first half of this year than in all of last year!
As the Orlando market begins to turn around it’s a great time to buy and sell Florida property!
Bill Cowie President
Kissimmee Office 407 396 9914
Direct (Mobile) 407 620 7777
British-American Chamber of Commerce Advisory Board
The BRITISH HOMES GROUP Florida
2960 Vineland Road | Info@britishhomesgroup.com or (+1) 407 396 9914