Many sellers think about taking their home off the market during the holidays. This may be the best time of year to find a serious, qualified buyer who may be in town visiting family for the holidays. This article spells out some good advice for sellers during this time of year.  When you are thinking of buying a home, think of Idaho Real Estate!  Call Don Wixom for quality service throughout the year!

The 5 reasons a property will sell or NOT sell:

1. Location

People will either like the location or not.  Most people like to be situated either in the right school district to meet their needs, close to work, a particular neighborhood or someplace with a view. In most instances, people look for location first.  You know what they say; "Location, Location, Location!"  If your home is in a poor location or has questionable surroundings or neighborhood, any of the remaining four reasons may need extra attention. Idaho Real Estate is always a good location, but there are always possible surroundings that aren't as desirable...

2. Price

Especially in our current Idaho Real Estate market, PRICE can be THE most strategic reason a buyer will buy.  As your agent, I will provide you (my seller) with comparable properties in both "Active" and "Sold" categories. It's best to be as high as possible when compared to the "SOLD" properties (to get the highest price possible) however,  price average or below when compared to the "ACTIVE" properties (your competition). Some sellers will say something like, "We can always come down..."  However, in a competitive (buyer's) market, some buyers won't even look at a home that seems to be overpriced (above average). Listen to the advice of your agent when determining the pricing strategy of your Idaho home.

If you know exactly why you are selling, then it is easier for you to set the right plan of action to get what it is that you want.

If you are a seller who needs to close a sale as quickly as possible, then you should know that getting the highest price possible is not one of your priorities. It does not mean that you won't or cannot get the highest price, but it means that the price is not the deciding factor. A buyer who can give you a quick closing time will appeal much more to you than a buyer who can offer you more money but the negotiation and closing time drag on.

Unfortunately, when economic activity declines and housing activity decreases, more real estate enters the foreclosure process. High interest rates and creative financing arrangements also are contributing factors.

When prices are rapidly accelerating during a real estate "bonanza", many people go to any lengths available to get into the market through investments in vacation homes, rental housing and "trading up" to more expensive properties. In some cases, this results in the taking on of high interest rate payments and second, third and even fourth deeds of trust.

Hot Market

A hot market is an extremely competitive market, one that is advantageous to the seller. Sometimes, homes will sell as soon as they are listed or even before homes are listed. Typically, during a hot market, multiple offers will be made on each home and more often than not, homes will sell for more than their asking price. It is even more crucial to be prepared and to be ready as a buyer when the market is hot. It can be easy to get caught up in the bid for a home, but if you are prepared (pre-approved, solid in price range, realistic about your needs), it is easier to remain focused on your housing needs and price range.

An alternative to a non-conforming loan is the use of a land contract, which is allowed in some states. A land contract is an agreement between a buyer and a seller, where the buyer agrees to make periodic payments to the seller. The title to the property only transfers to the land contract buyer on fulfillment of the land contract obligations.

A land contract can be helpful for those who need time to establish or improve their credit rating. There are only small closing costs, and payment can help establish a good mortgage payment record. This can help establish an overall good credit rating, and it is possible for the buyer to later refinance the land contract with a conforming loan.

If you want buyers to be interested in your home, you need to show it in its best light. A good first impression can influence a buyer into making an offer; it influences a buyer emotionally and visually. In addition, what the buyer first sees is what they think of when they consider the asking price.

A bad first impression weighs in as deeply. Don't show your property until it's all fixed up. You do not want to give buyers the chance to use the negative first impression they have as means of negotiation.