Tuesday, July 26, 2011
Condos in a down market
Ellen James Martin, Universal Syndicate, says fear not, some condos are still moving.
Yes, people are leery of buying any real estate with everything losing value instead of gaining.
Um—yeah, that is a problem. Buying a house turns out to be my worst idea EVER.
But hey—don’t go by me.
Condos usually are cheaper than houses—boomers downsizing may well want one.
Sometimes people want to be downtown, too—condos!
To sell yours, set your price a notch below realistic market value. Look at those comps. Be sure foreclosure prices are in the mix.
Declutter! Clean to a fare-the-well. Make it look inviting. Amazingly a lot of people don’t do this—you will stand out.
If nothing still happens, think about an upgrade or two. Kitchens return the most value. Your agent can advise you whether this is worth it.
If you need to sell, try it! If you want to buy a condo—now is the time!
Bring cash--plenty of it.