Growing sluggish at only 2%, the US Economy is not in its best state at the present. The unemployment rate is high at 7.9%, although there appears to be 200,000 new jobs. In this scenario, it’s not surprising that houses are not purchased at a lively rate. In December 2012, the National Association of Realtors shared that the existing homes in the US fell 1% to the annual rate of 4.9 million units, which are adjusted seasonally.
These facts do not bring good news to many property owners who are looking forward to selling or at least leasing their home. Property inspectors despite being armed with modern tools like property inspection software, can only do so much in proving a house’ worth. At this point, many good properties are left unsold because of the plummeting housing market. In many cases, it’s not about the property itself; it’s about the money buyers have. One can discover the good and the bad of a home easily through property inspection tools and buy it if they can afford it. But the recent times show a reduced number of people interested in buying a home because they cannot afford it.
What You Can Do
If you are a property owner, there are smart ways to stimulate buyers or renters and help you gain profits from your property investment. Among them are:
- Attach incentives with your property. In this industry, all you need to do is to rise above the pack. You may have a $152,000 average home in Virginia or a $500,000 property in LA; when you’re planning to sell it, why not throw in tickets to a big sports event or a popular musical within your area? This may sound rather facetious, but you’ll be amazed at the potential buyers who will seek your property just because of the little incentives that go with it.
- Go online. It’s about time to get acquainted with various social networking sites. If you have website, connect it to your company’s Facebook, Twitter, Pinterest or Tumblr, and see how your connections work for you. Upload images of your home and emphasize its charm with a digital property inspection app—this handy property management inspection program will make your marketing much easier.
- Lower your property’s price. When the market demands a much reduced price for a property, and you’re just eager to have it sold, you can consult your real estate appraiser and see how your property can benefit the local investment market. Before considering this step, consider the fact that lowering your property’s price can actually hint market softness to home buyers and they may wait even longer just to get a better deal. This means that buyers tend to see if prices will decline more. At best, compare prices with the homes in your area and see the best value for your home.
- Lease it, at least for a year. This may sound impractical for sellers, but the advantage is evident: it extends your sales window up to such a time the local housing market has improved.
While there’s no real way to sugarcoat the US housing industry, property owners can stay afloat by keeping their business abuzz with their social media connections and using property inspection innovations like digital property inspections. It is recommended that real investment companies stay in the scene, keeping followers up to date with their new offerings and being straightforwardly honest about their properties.
