Things you must do to sell your home

In todays buyers market, with many more homes for sale than qualified buyers, you need to make sure you price your home at or near the bottom of the price range.  Your home will be competing with 10 to 15 like homes in your price range.  Even a small difference in price will put you at a disadvantage.

If at all possible you need to paint, carpet, up-grade old appliances and even stage the home to get the attention of buyers.  The home must be in move in condition or you need to be at a lower price than the competition.

You need to look closely at all the factors buyers look at; neighborhood, type of home, the condition of the home, size (dollars per sq ft), amenities, the yard, etc.  If your home is lacking compared to the competition in any of these areas you need to lower the price to compensate.

The hard true fact is it is a buyers market and to sell you must be competitive.  Many homes are sitting on the market for months and this makes it harder to get them sold.  Many homes simply will not sell close to the listed price.

How long will this last?  No one knows for sure, but many experts says for at least a year.

    

FHA is now the best financing for entry level buyers

The credit crisis has all but eliminated 100% financing for most buyers.  If you can get the 100% financing you will pay a heavy mortgage insurance fee each month.  The best option is now to get qualified for an FHA loan.  These loans are about 1/2 a percentage point less in interest than conventional 100% loans.  The standard FHA loan requires the buyer to put 3% down, but allows the sellers to pay some of the buyers closing costs.

For more information on the types and the benefits of FHA loans go to their website.

http://www.hud.gov/fha/choosefha.cfm