Will Philly Homes Sell without the Homebuyer Tax Credit?

From Margaret Everton on July 6, 2010 in Philadelphia

As the Philadelphia housing market faces the end of the homebuyer tax credit and its residual effects, many homeowners are wondering how they can sell their homes without the added incentive. Realtors believe it breaks down to two important factors: competitive pricing and emotional appeal. philadelphia housing market

Competitive Pricing

No matter the climate of the housing market at the time, smart pricing is always essential in ensuring that a home sells quickly. Homeowners looking to sell must decide if they are willing to allow their home to sit on the market for a fair amount of time before getting the price they want for it. If not, then it’s important to price it competitively right from the start, based on price comparisons in surrounding neighborhood.

Emotional Appeal

Before placing the home on the market, however, it’s important that it be neutral, clean and up to date with repairs. A home pre-inspection might help in determining what should be fixed beforehand. Above all, it’s important to create a space in which buyers can seem themselves at home.

One important tip: homeowners looking to sell should stay on top of the market in their area. If a home doesn’t sell within the span of two to three weeks, the price should be reevaluated.

Photo Credit: Chinook County Inspection

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