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SALT LAKE CITY -- Prices for homes on the market are definitely not what they used to be. Some homeowners are finding it difficult to get any good offers for their home before they move. So what do you do? You can either stay in your house or get competitive.
Salt Lake Board of Realtors president DeAnna Dipo said most of the sellers that she deals with are motivated to move and will do what it takes to sell their home. She said the first thing the do is make the house look good. "It has to look like a model home in today's market," she said.
- Home sales - down 20% from May 2010
- Pending sales - up 58% from May 2010
- Home sales - down 22% from April 2010 but up 6% compared to April 2009
That means cleaning, repairs and then taking lots of pictures. Dipo says those pictures should be posted on the Internet. It can lead to a lot of foot traffic.
"The more information a consumer can get by looking at pictures and getting all the data they can get, the better the chance of the home being sold," Dipo said.
So what about price? According to Dipo, this is where the competition comes in. She said sellers are battling against other homes on the market plus bank-owned properties and short sales. The price will be based on comparable properties. But if your house looks better, you may be in for a quick sale.
Dipo said distressed properties are starting to go down and the number of homes for sale in the Salt Lake Valley is starting to decrease.
"If it's priced right and the home shows real well, typically we are starting to see multiple offer situations, because the inventory is not what it used to be," she said.
E-mail: cwall@ksl.com
