If you have a vacant property on the market for several months and have not received an acceptable offer, perhaps it's time to consider other options:
1. Improve the CONDITION is usually my first suggestion.
2. Reduce the PRICE. I know as a Seller this is not what you want to hear, but facts are facts and comps are comps.
3. LEASE it.
If the curb appeal is at its maximum and the interior pleases the eyes, then price may be the last variable to play with. However, as a Seller, if your financial plans do not include "giving it away" you may want to consider leasing the property.
Many buyers are unable to secure loans in these uncertain financial times, and leasing a home in their neighborhood of choice is often an attractive option.
The rising inventory of homes brings the supply and demand rule into play. An oversupply of homes puts downward pressure on prices of all homes in the area. This may not be the right time to sell your property. It may be a very good time to lease it.
Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800
South Bay Los Angeles cities I sell real estate, houses and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach.
Sell Smart, Buy Wise and Live Well
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Based on information from the Association of REALTORS®/Multiple Listing as of the initial date of this article/blog publication and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.