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Tips for Selling in a Down Market The home next door is in foreclosure.

The neighbors down the street just put

their house up for sale at a ridiculous

discount. And “For Sale” signs are pop-

ping up in lawns all over town.

The bright side of selling a home in a

down market is you can seek out a bar-

gain if you’re going to turn around and

purchase another home. Closing a sale,

however, can be a lesson in patience,

even if you do everything right.

Here are some tips when selling in this

market:

PRICE AGGRESSIVELY.

Even if you are fully aware that prices

have dropped, it can still come as a

shock when your real estate agent ad-

vises you to list at a low price. The real-

ity is that only 4-10% of homes on the

market nationwide sell in a given month

right now. With that in mind, you need

to ask for at least 1% less than compet-

ing homes.

STAGE LIKE A PRO.

You may not be able to compete with

prices of homes in foreclosure or short

sales, but you can outshine them when

it comes to appearance and condition of

your home.

Staging is no longer optional. It can be

an intense period of planting flowers,

painting and depersonalizing the house,

to getting rid of clutter and rearranging

rooms to highlight the best features.

GO ALL-OUT ONLINE.

With 90% of buyers starting their search

online, according to the National Associ-

ation of Realtors, you cannot just tease

and hope. Getting as much information

as possible online is essential, and the

more pictures the better.

It’s also important to remember that buy-

ers are using smartphones and apps to

review listings now as well.

BE FLEXIBLE WITH BUYERS.

The single biggest change in the real

estate market in this Great Recession is

tighter financing. Any perceived imper-

fection in a credit record can cause

problems.

If you’re about to accept an offer, make

sure you ask about the down payment

and the buyer’s financing status. Con-

sider accepting an all-cash offer, even if

it’s not the highest. And if your buyer

hits a roadblock, consider talking with

the lender to help structure a deal.

DON’T RUSH TO RENT.

The fallback for many homeowners who

can’t sell is to rent the property. But this

is a strategy that carries risk. With so

many foreclosures and underwater

houses on the market, there is a good

chance that any given house will be

worth less in a year than it is now.

Right Time to Upgrade?

I am frequently asked the question if now is a good time to “upgrade” properties. Most of the time, the decision is slowed by apprehen-sion of selling in a “soft” market. The truth of the matter is that there has not been a better time in the last 80 years.

Right now, there is a huge supply of homes and interest rates have stayed at historically low levels. By definition, we are in a buyer’s market. If a current homeowner sells their smaller house with a 5-10% lower price, it is more than made up by the 5-10% discount they get on a large home. Up-grading while the market rebounds is a great way to get a deal.

If you would like to learn more, please contact me.

August 2011

Current Listings Visit RogerHaag.com for more information on these and other listings.

4219 Heyward Lane

Washington Township

Sycamore Springs

4 Bedrooms, 4.5 Baths

$687,900

BLC# 21136314

10562 Milton Court

Fishers

Brooks Landing

5 Bedrooms, 4.5 Baths

$414,900

BLC# 21131352

11155 Timberview Drive

Fishers

Walnut Hills

4 Bedrooms, 2.5 Baths

$279,900

BLC# 21128076

18132 Kinder Oak Drive

Noblesville

Oakmont Glen

4 Bedrooms, 2.5 Baths

$239,900

BLC# 21133317

12797 Shepherds Way

Fishers

Avalon

4 Bedrooms, 2.5 Baths

$239,900

BLC# 21126616

12121 Cowboys Court

Fishers

The Bristols

4 Bedrooms, 3 Baths

$229,690

BLC# 21126919

5425 Kilmer Lane

Washingtown Township

Ivy Hills

5 Bedrooms, 3.5 Baths

$179,900

BLC# 21132028

5630 Kingsley Drive

Washington Township

Broad Ripple

3 Bedrooms, 1 Bath

$169,900

BLC# 21122884

1064 Bumblebee Way

Greenfield

Whitcomb Village

3 Bedrooms, 2 Baths

$129,900

BLC# 21131652

7725 Harbour Isle

Washington Township

Harbour Club condo

2 Bedrooms, 1.5 Baths

$89,900

BLC# 21115635

104 Knoll Court, Unit 104-A

Noblesville

The Bluffs condo

3 Bedrooms, 2 Baths

$88,900

BLC# 21117544

10930 Autumn Glen Drive

Warren Township

Autumn Glen – 55 and over

2 Bedrooms, 2 Baths

$45,900

BLC# 21108754

SOLD

Pending

Pending