Monday, June 30, 2008

WHAT IS A "PREAPPROVED" HOUSE?

The competition that exists in our real estate market today is intense. Even though we have seen falling inventories in the Denver Metro Area this year (a very positive development), there are still over 20,000 homes on the market.

And 85% of those homes will not sell in the next 30 days.

Strategies for selling real estate evolve. Market conditions evolve. Trends evolve.

For sellers serious about getting their home sold this summer, let me suggest the following strategy: get it preapproved.

How do you get your home preapproved?

* By hiring a home inspector to do a thorough examination of the property, noting any defects, and then taking action to correct them. This would happen anyway, once we are under contract... but being proactive in this regard eliminates surprises earlier and shows buyers that you are committed to a fair transaction.

* Hire an appraiser. That's right, get your home appraised before it's listed. With all of the negative press, every buyer is concerned about overpaying, and a fair appraisal will show you are not unrealistic with the price you are asking.

* Offer a home warranty. For less than $300, we can offer the buyer a one year home warranty that guarantees appliances and important items like air conditioners and furnaces remain serviceable after closing.

* Four hours of handyman services after closing. We can create a gift certificate good for four hours of handyman services after closing to address and loose items around the house that need "tuning up".

Good salespeople will tell you that buyers buy with emotion, then justify with logic. For less than $1,000, we can create tremendous positive emotion around your house.

Eighty five percent of listings on the market are not going to sell in the next 30 days. To be part of the 15% that will sell, you need to be different. And better. That's why "preapproving" your home makes all the sense in the world.