THE TOP TEN TIPS FOR A SUCCESSFUL
summer of 2010 marked the fifth year of a buyers market on Hatteras
Island. We are cautiously optimistic that it may have also marked
a turning point in the real estate cycle for residential properties.
The number of home sales increased, and the four-year decline in
average selling prices came to a halt. This is certainly good news
because, at a minimum, the data suggest that the islands real estate
market is beginning to stabilize.
Even with this favorable development,
it appears that it will be some time before market conditions once
again favor sellers. We would like to offer the following ten observations
and recommendations to assist property owners to increase the probability
of selling their cottages and lots.
are selling their properties in a market characterized by a
wide gap between supply and demand. The significant disparity
between supply and demand is resulting in a decline in selling
In this type of market, price
is a sellers most effective marketing tool.
No one knows the exact price
point at which your property will sell.
The market will determine your
Sellers need to set a listing
price that jumps off the page at prospective buyers and their
There is no point in setting
a high listing price and hoping that a buyer will respond to
In a declining market, the sooner
you sell, the more money you will make, and the less money you
There is essentially nothing
that you can do to speed up the sale of your property that will
be more effective than reducing your price.
The best feedback that you will
receive concerning the competitiveness of the price of your
property is the number of times your property is being shown
and the number of offers that you are receiving.
todays market, the first offer that you receive will often be
your best offer.
We fully understand that the message that we are
communicating may not be what most sellers want to hear. It is,
however, what property owners need to hear to be successful in the
sale of their properties under current market conditions.
For the time being, we need to recognize that we
are all in a new game and that the greatest success will be enjoyed
by those who are aware of the new rules and choose to play by them.
We invite you to read the full text our report,
Straight Talk for Sellers, by requesting a copy using the
information request screen or by sending
us an e-mail at firstname.lastname@example.org.