"The focus on foreclosures and subprime lending is ongoing and, coupled with higher inventories of homes for sale, is prompting many would-be buyers to play a 'wait-and-see' role."said C.A.R. President Colleen Badagliacco. She continues,
"However, well-maintained homes with curb appeal that are priced for today's market continue to sell. It's often a matter of counseling buyers and sellers to set realistic expectations on both sides of the transaction."Pay attention to that last part -- your home must be appropriately priced to sell. Buyers today come to the table with internet research behind them. They have seen the inventory and gained a sense of what you get at how much. Topanga is a little trickier, because of its unique composition. After touring a few homes, however, buyers can quickly grasp what is a true value when they see it.
When you are ready to list your home, ask prospective agents for a complete market evaluation of the last six months. Read them for yourselves and ask any questions you may have. Remember, the buyer is not emotionally attached to your home. Don't let emotion cloud your business judgement. Try to catch buyers right out of the gate by pricing correctly.
After you have listed, listen to the market. If you have no activity, the first thing to consider is price. Are you a little high? Would a price adjustment spur some activity? Don't let your house sit while you are stuck on one price. A good, knowledgeable agent will be able to guide you through this process.
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