 | Daily Real Estate News | July 7, 2008 |
Selling a Home in a Hurry Still Possible
While most homes are staying parked on the for-sale market for a longer time these days, occasionally a residential property turns over in 24 to 48 hours. Such transactions elevate the mood of the professional real estate community and its clients, while offering a snapshot of ideal conditions that contributed to the near-immediate sale and that could possibly help move other listings faster, as well.
According to real estate professionals, the key components of a quick turnaround on a home for sale include realistic pricing, a polished and well-staged appearance, the right location, and the interest of a prospective buyer who is compatible with the property.
"It's definitely a down market, but the special houses sell fast," says developer Kostas Macos who waited patiently for the owners of a Rittenhouse Square home in Philadelphia to trade up, then seized the opportunity to buy it for himself.
"There will always be properties [that] sell, even in a depressed market," observes Prudential Fox & Roach's Mary Genovese Colvin. "In most situations, a 24-to-48-hour sale is a special property. But many times, people in an area have an eye on a particular house."
Source: Philadelphia Inquirer, Alfred Lubrano and Alan J. Heavens (07/02/08)
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