Selling tip " Show them so they will see it"

What do you do with a property that is seriously outdated in every regard, or in Realtor speak
"original". You've heard all the helpful selling ideas before like, bake a loaf of fresh bread, paint the front door, stage the property, de clutter and so on, good tips but none would help sell an outdated home.

No,  if you want to sell your "original" home you must help buyers see it as it could be and show them how little it would cost. This is important especially when you consider that most buyers and Realtors have no clue what it costs to remodel/update a home so they guess wrong and that normally doesn't bode well for the seller. If you want to sell your home quickly and for the highest possible price, take the guess work out of the equation.

All you have to do is go to your local Home Depot or Lowes and let them know you want to find out how much it will cost to remodel your home or kitchen or bath, whatever.  They will help you every step of the way and they will do it for free. When your finished you will have color renderings and prices which you can share with buyers to show them what can be done and for how much or little. This will be a tremendous help to potential buyers and beneficial to you, by your removing the guess work they can see your home as it could be and not as it is. In sales this is called " selling the sizzle not the steak" Its works, so be sure to try it, you have nothing to lose and everything to gain!

Take a look at this example

What Is

Completely redesigned kitchen, Corian counter tops, new high end Stainless appliance all for under $14,000

West Palm Beach Foreclosures (REO) coming soon

Once again Palm Beach county is setting records in the world of real estate "according to RealtyTrac’s Foreclosure(REO)  Market Report for February 2013: One in every 282 housing units with a mortgage had a foreclosure filing during the month – more than three times the national average." that ups 6% from January 2013 and up 20% year to date. Florida has the honor to be #1 in the nation with the highest foreclosure rate for the past six months in a row!

Now dont let these stats get you down, on the contrary if your a buyer you should get excited because what this means to you is OPPORTUNITY. These REO homes coming to our markets soon have been in the REO pipeline for a long while. In the mean time Palm Beach County homes sales has been steadily growing with inventory drying up which has resulted in a shortage of good resale inventory.

So if you have been wanting to buy a home in our area look at the increase of REO properties coming as OPPORTUNITY to get a good quality home at below market prices.

You can keep track of REO inventory as well as daily changes through my website http://www.peterrejune.kwrealty.com. Just select the area of the county your interested in,

Palm Beach County Homes sales

Just like the Beatles sang " Its getting better all the time" Palm Beach County homes sales for February when compared to this time last year have shown dramatic improvement.

Resale inventory ( Listings for sale) have dropped to 5.8 months supply which is down 11.1% YOY and considered very light supply. This is not enough to meet the current demand, which bodes well for sellers who can expect more competition from buyers which translates into potentially even higher sales prices.

Single Family Homes sales are up 27% YOY
Condo sales up 28.5% YOY

Number of days a property is on the market for sale has dropped 13.9% from 101 to now 87 days YOY

A whopping 55% of all sales were to cash buyers which is up 6.2% YOY

So if your thinking about selling, there is no better time then right now to get your property listed for sale because the momentum is clearly on your side. Whether the market for sellers gets better or not is anybodies guess but for right now you have the wind to your back. Just dont fight it, what I mean to say is if you want to sell faster and at a higher price you need to make sure your home is priced properly at fair market value otherwise all you will be doing with your over priced listing is directing your potential buyers to look at and buy other more fairly priced homes, not yours.

If you've been thinking of buying you better get serious because everyday you wait is costing you money, right now homes prices are on the rise so do not let a good deal get away from you, you have to act sooner rather then later. If you need to finance your purchase be sure to get yourself pre approved because most sellers will want to know up front if your qualified because they do not want to waste their time finding out, especially when they can sell to somebody else that is qualified.

Whether your a buyer or seller you can call me to help you put together a detailed plan on the best way to approach this market so that you will come out ahead.

Thank you
Peter ReJune
Realtor Broker Associate
Keller Williams Palm Beach
C-561-793-2493

Real estate sale stats nationally

The National Association of Realtors says that based on the recent national housing stats it appears the industry could be shifting from a buyers market to a seller’s market.

Supporting data:
New home listings fell in January by 4.9%, leaving approx. 1.75 Million properties for sale which is the lowest sales inventory since 1999.
Home sales rose in January, to an annual rate of 4.92 million sales which is up from 9.1% one year ago.

So right now we have more buyers chasing a declining number of homes that are for sale. If the current pace of sales continues it will take about 4 months to sell the entire current national supply of homes on the market. Not only does this help to confirm the market could finally be shifting to the sellers side but then add to that a consensus by economists that they see sales increasing nearly 12% from last year and it really seems like a change in market sentiment.

This then explains why NAR believes sellers are beginning to have the upper hand.

Some advice for sellers:

If you want to sell quickly and get the best price possible put your feelings aside and look only at the current facts. You have to take into consideration your local resale market conditions, your homes overall condition, your neighborhood condition and your personal financial situation.

Its a known fact that homes priced to Fair Market Value will sell more quickly and at higher prices then over priced listings. Say what?

A home priced properly will get many showings its first week on the market then an over priced listing.

A home priced fairly will get more written offers faster then over priced listing if they get any offers at all.  

A home priced fairly will be contracted and closed before an over priced listing gets its first written offer.

A home priced fairly means money in your bank account sooner rather then later, or permits you to move into your new home sooner rather then later.

An over priced listing means you will be losing more and more money every single day it doesn't sell and close.

If your goal is to put as much money as you can in your pocket then hire a professional Realtor who will tell you what you need to hear not what you want to hear. You will be better off for it!