Selling a home these days is probably not at the top of anyone’s “Things that are fun” list.  In fact, it’s probably more on the “Things to dread” list.  This is unfortunate because it’s mainly due to the media presenting such a gloomy cloud over the real estate market.

If your real estate agent is marketing your property correctly using the available online marketing tools, is  holding open houses and you’re still not getting people through the door, your home is probably overpriced for the current market.  At one point in time, your home might have been worth what you’re asking, but not right now.  Ask your agent for a Comparative Market Analysis (CMA).  This CMA will be the “blue book” value of your home in the current real estate market.

If you are unable to lower the price and you need something to happen (other than foreclosure), try renting the property.  Ask your real estate agent if they can recommend a good property manager and offer it for rent AND for sale.  (Here at CENTURY 21 Hecht Realty, we have our own Property Management department)  If the property gets rented, at least you won’t have to worry about selling it in the short term, and hopefully by the time the tenant moves out, the market will be on the upswing and you can put it on the market again.  Now the obvious downside if the risk of bad tenants, but don’t let that scare you because of the 90%+ renters out there are great tenants.