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Target first-time buyers when selling a home

Written by NorthJersey.com

 

Sellers would be wise, real estate experts believe, to target first-time buyers while their home is on the market. First-time buyers have accounted for roughly 50 percent of all monthly home sales of late, according to the National Association of Realtors, after waiting patiently for prices to come down to more affordable levels. The historical average, according to the association, is more like 35 percent.

 

“First-time buyers are skeptical of buying homes that need improvement,” Eric Mangan, of ForSaleByOwner.com, has noted.

 

In fact, supporting that view, The Wall Street Journal reported that nearly half of brokers polled for a recent Coldwell Banker survey found that while affordability was foremost on first-timers’ minds, 81 percent said “move-in conditions” were very important, too.Sellers should be mindful of a few factors in order to successfully attract first-timers to their home.

 

Closing costs

 

While a lot of the sales action has been fueled by the federal government’s tax credit of up to $8,000 for first-time buyers, they are still responsible for paying the closing costs. Offer to cover it for them before they even think to ask.

 

Home warranties

 

Odds are these are renters used to calling their landlords to fix anything that goes wrong in their apartments. Giving them a home warranty covering major issues could go a long way toward easing any of their jitters about homeownership.

 

First impressions

 

Remember how important move-in conditions are? Well, in a tough housing market, more than just a fresh coat of paint or neatening of rooms is required. In fact, experts recommend improvements such as adding a new roof to enhance the value of your home. (NAPSI)