Selling Your House in a Tough Market: 10 Strategies That Work
by Ilona Bray, J.D. and Alayna Schroeder, J.D. 2009. Nolo, Berkeley. 226 pp.
Discover sound guidance for moving through an unfriendly time in the market. Sellers today, many of whom are underwater, need a shoulder to lean on. The introduction within Bray and Schroeder’s work is aptly titled, “Your Home-Selling Companion.” Companion, indeed. Companion-like advisers from across the United States contribute material throughout the book.
Selling Your House in a Tough Market calls attention to tracking the local marketplace for buy-sell transactions in a weak economy, even after you've set the listing price. The housing unit’s physical aspects are emphasized, chiefly repairs and staging the home for prospects. Independence gets a thumbs-up, such as putting your house on the market as a for-sale-by-owner (FSBO), and how to offer incentives to buyers. They also cover what to anticipate when working with real estate agents.
One of the 10 strategies is driven by a stark reality that some distressed sellers may encounter in today’s economic environment: the necessity of leasing to tenants for a period of time, instead of selling the property. Not long after the book’s release, home values continued to decline to 2003 levels nationally, chewing up equity in the process. Whether it's because of additional competition from other properties or a decrease in demand, renting out one’s home for a term, prior to selling, may become all the more ubiquitous if 9 of the 10 strategies don’t pan out for homeowners during their timeframe to sell.
One tip after another in Selling Your House in a Tough Market should spur any reasonable seller into action.
- July 2011