now browsing by month
I think it is safe to say that the real estate market has now officially entered a buyer’s market. So what do you do if you need to sell your property now?
Well my first answer would be DON’T, unless you really have to. You are not going to get your dream price in this market and it is time to accept that. The only way to sell a property in today’s market is to have a realistic expectation of what you can get.
So what is a buyer’s market? It is when there are few buyers in the market. This causes demand to drop and the same happens to the property values.
So how do you sell in a buyer’s market? By making sure your property is priced right and that it looks valuable. You need to make sure that when a potential buyer comes to view your property that it is clean and neat, and kick the dog out.
By showing your property in its glory might inspire the buyer to rather buy yours than your neighbour’s property that has those peculiar stains on the carpet…
Another way to ensure your property gets sold is to listen to your real estate agent when they tell you that you are pricing to high. This does not give them the right to swindle you out of a good price though, get a second opinion. Another thing to remember is that the real estate agents are also suffering in this market, so try to negotiate less commission. If they really want to assist in selling your house, they will be willing to negotiate.
Please do not try and cut corners in this market. Always use a professional to help you sell your property so you don’t end up losing the deal because you don’t know what to do after your property is sold. It might seem a waste of money to use a real estate agent and attorney, but in the end it is the best, and safest, way to sell your property.
Well I hope this was helpful and remember, the market will turn just stay positive.
I know you are probably feeling a bit nervous about the interest rate so I will try to help you refocus yourself and make a plan.
First thing you have to do is face reality.
You can not change what happens to the interest rate.
Secondly you have to refocus your energy.
Stop worrying and start focusing on what you are going to do to keep your property.
So how will you get that extra cash you need to pay your bond?
- Get rid of your bad debt. Pay off those credit cards and store cards. They are doing you more harm then good.
- Budget. Create a monthly budget and stick to it. Any extra cash can go towards your bond and help you save on interest.
Thirdly focus on the ultimate outcome.
Think about the day your house is paid off. This will inspire you to keep focused on your goal. Remember to be flexible so you can adapt to any situation.
Find different ways to achieve your goals.
Fourthly take action now.
Do something now to start moving and focus on what you can change and stop focusing on what you can not change.
When ever you start feeling that you are focusing on the wrong things stop, and refocus. This way you will achieve your goal to keep your property and any other goal you set your mind to.
Finally remember. Everything that goes up must come down. So try to keep your property, you won’t be sorry.