Tuesday, July 25, 2006

State of the Market

The Chicago Tribune's Mary Umberger writes a sharp real estate column. But this week, she also featured a huge Real Estate section cover story that provided a sort of "state of the market" address.

The key points made for sellers?
-Price your unit right or plan on sitting for a long time. You must be at the tipping point (just under the last real comps sales) to sell fast.
-Do the basics... paint, clean, repair, de-clutter... put on a happy face.
-People are getting desparate and offering incentives because they are shocked their condo is not selling... even when we don't know if incentives work or not. And there is no market analysis that proves they do. This is a trump card I reserve to push a close deal over the top for my clients.

If these things are done, and Realtor like me can help assure that they are manuvered correctly, a strong marketing plan by your practioner should make it happen.

Of course, there is a ton of properties on the market... so be realistic. Buyers are taking their time and are not throwing offers around. But don't believe me... just put your place on the market over-priced.

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