Anyone looking for advice on how to sell your house in a tough market might get some inspiration from William Bronchick and Ray Cooper, authors of How To Sell A House Fast In A Slow Real Estate Market(2008: John A. Wiley & Sons).

Here are some of their ideas:

• Position the house in the right price range. Buyers search by price range. Positioning a property in the middle of the range increases the likelihood people will see it.
• Have information available. Deals fall apart when the buyer has unanswered questions. Have key information available, including cost of utilities and taxes, neighborhood liens and covenants, and an evaluation of the schools.
• Put out a good flier. People are much more likely to read the flier than they are to call the number on the "For Sale" sign.
• Market to the neighbors. Market to people who have just listed their own homes in the same areas. Chances are they like the neighborhood and could be persuaded to stay in the area by the right property.
• Offer creative financing. For many people these days finding money is the biggest stumbling block.
• Follow the first-offer rule. In this market holding out for a better offer is a big mistake.

 
Average price  San-Cap MLS  YTD 
2007   $ 1,006,317   
2008   $953,917            Down  5.5%    
 
Unit sales         San-Cap MLS  YTD 
2007   325
2008   337               Up 3.5%     
 
Unit Sales     Naples, Bonita and Estero MLS YTD
2007  4109
2008  4778            Up 16%
 
Dow Jones Industrials
2007 October 5   14,066
2008 October 6   9699             Down 45%
 
Summary
Real Estate on a unique barrier island that has so much dedicated green space and no high rises is valuable.  There are some excellent values in our market right now. Inventories are decreasing which usually indicates a bottoming of the market and a transition to a higher buyer demand.  I’ve heard that last month the Naples MLS reported a 107% increase in pending sales for September! The market may be turning ahead of the news reported.  Considering the decrease over the last year in the stock market, scarce island real estate is the best alternative of available options.  Park your money on high demand island Real Estate.

Jay Richter-John R. Wood Island Real Estate, Inc.-Broker