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Recession and Foreclosure News: Home Selling Tips

Posted by: Lisa Nichols | Apr 03,2008

We’ve talked a lot about foreclosure and the recession, getting priced out of neighborhoods and homes that languish on the market for months or years in the Finance Headlines. Not surprisingly, there’s another side to this coin. Despite the risk of foreclosure and the ongoing recession, many homeowners are refusing to sell- until they can make a profit. More on the current trend to sit on a house for sale and some home selling tips to recession-proof a home:

 

Homeowners Refuse to Sell Despite Recession, Foreclosure Dangers

 

Despite the fact that home prices have plummeted in many areas due to the recession, many homeowners are refusing to sell their homes for cut-rate prices. Home sales have fallen by more than 30% in the last few years. Yet prices of homes for sale have continued to increase and the prices are very close to where they were three years ago. Only recently have homeowners with properties for sale during the recession started to capitulate to common sense home selling tips and begin reducing their prices. In turn, home sales have started to nudge upwards.

 

Home Selling Tips: Recession-Proof Your Home

 

Home selling tips can help move a house more quickly. Realtors and DIY reality TV shows both can provide tips that homeowners can use to recession-proof a home to help it sell and to avoid foreclosure. Upgrading a home and adding updates is a favorite home selling tip. Kitchens especially can almost always use an upgrade in an older home. Buyers these days look for top-notch counter tops, stainless steel appliances and sturdy tile floors. Another favorite home selling tip is to check on housing prices for your area before you list the home. Make sure that the house is fairly priced and won’t scare people off during the ongoing recession.

 

Another profitable home selling tip is to pay for home upgrades and updates with a rewards credit card. When you use a rewards credit card for big purchases, you get big returns in the form of cash back or free travel. 

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