Elaine Abercrombie: Strength in Numbers

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By Elaine Abercrombie

There are advantages to selling a home in a high-volume market

Selling your home in anything other than an active market can seem challenging, but what do you do when yours is only one of many homes in your neighborhood with a “For Sale” sign?

Surprisingly, there are actually some advantages to marketing your home in this situation, and in Santa Barbara, we have less than a six-month supply of homes for our whole area.

More buyers are drawn to neighborhoods where they can preview more homes at once. More buyers means more opportunities for your home to be seen and to attract an offer, so make your listing stand out against your competition.

The Montecito and Hope Ranch areas have the most inventory, which gives them the best opportunity to make a statement.

Price your home aggressively after reviewing the comparable sales figures provided by your Realtor. Don’t give your neighbors the advantage of looking like a bargain compared with your listing — take it yourself and show buyers what a great value you’re offering.

If you’re competing against foreclosure listings, having your home in “move-in” condition will help, because foreclosures often need lots of repairs.

With this much activity in the neighborhood, make sure your home is available for showing on literally a moment’s notice. Buyers who come to look at other listings may spot yours and want to see it right away to make comparisons.

Be prepared for “impulse” prospects with good housekeeping and an escape plan for unexpected showings.

Finally, don’t worry if your neighbor sells first. That just makes for less competition in your market!

— Elaine Abercrombie, a broker with Village Properties Realtors, is president of the Santa Barbara Association of Realtors. She can be contacted at .(JavaScript must be enabled to view this email address).

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