Bidding War Market, The Sequel

Back in early 2005, bidding wars were still common in Eastern Connecticut. Sellers loved bidding wars when multiple buyers were bidding on the same property, often at prices above the listed price. Sometimes buyers, in an effort to sweeten their contract, even waived their right to do a home inspection. Those were the days! Unfortunately for sellers, those days are long gone.  The buyers who "won" the war are now facing a dilemma. The winning buyers are now the losing sellers and cannot sell their homes for what they paid a few years ago. 

So what do you do if you MUST sell your home and can't wait for prices to return to 2005 levels?  You may actually need to spend some money to limit your losses. Good condition isn't enough in today's market. Your home must be in perfect condition. Have a home inspection completed and fix every nit picky thing the inspector finds. Paint walls, refinish hardwood floors and replace floor coverings that are not in like new condition. Make your home show like a model home. Every day should be spring cleaning day.  If you have lots of stuff, rent a storage facility until your home sells. All of this is is going to be very hard if you have children or pets but it might be the only way to get your home sold, especially if you have lots of competition in your price range. 

In our current market, you may get very few showings on your home. When you do get a showing, make it count.