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Why Houses Do Not Sell ? Part 2 - STIGMA

 

Why Houses do not Sell ?  Part 2 - STIGMA

STIGMA - defined as a mark of shame or discredit or an identifying mark or characteristic

This is part 2 of our 4 part series of Why Houses Do Not Sell .  For part 1, please view "Why Houses Do not Sell - Part 1" where we focused on the importance of having the right realtor who is an expert marketer and who specializes in internet marketing.

StigmaThe second reason why houses do not sell would be a possible STIGMA associated with the property.  The following are examples of different stigmas that are most common to the average seller. These stigmas are followed by simple and doable remedies that an average seller can do to overcome them.

1.  Days on Market - If a property has been on the market for close to a year or even six months in some areas, what is the first question or statement that will come from the buyer (or a realtor).  It would be "What is wrong with it ? "  or worse yet "There MUST be something wrong with it.  Let's pass."  

2.  Location of the property - There are many reasons why location may hinder a sale such as, being too close to a highway or heavily travelled road, being located at the end of a dark poorly lighted  dead end street, next to a shell or unkempt property, being close to a loud bar or club, etc... 

3.  Dirty, Ugly, Smelly - Have you ever walked into a house and wanted to leave the moment you walked in ?  This is because the house is a victim of the Dirty Ugly Smelly phenomenon.   Dirty floors, stained carpets, dishes in the sink, pet odors, mildew, peeling paint and wallpaper, clutter, broken furniture, unhinged doors, non-functional lighting, and the list can go on forever. Yards and exteriors are not excluded from this phenomenon.

4. A Negative Event - This one is the subject of many "what ifs..." in real estate school. Examples of a past event that could have a negative effect on the sale of a home are sadly, homicide or suicide in the property, drug or other illegal activity having transpired in the home, or my personal favorite is the dreaded haunted house. Oh boy, do  I have stories to tell !

Overcoming Stigma

REMEDIES

•1)     Adjust price. It is not always an option but it works!

•2)     Clean, de-clutter, fix, paint, freshen, deodorize, trim back, add light, fresh plans or flowers, and essentially stage your home so it looks fabulous! Home and garden magazines as well as the internet is a great resource to borrow tips. For those of us who do not have time or feel overwhelmed, we recommend a professional cleaning service and or a staging professional.

•3)     Advertise like crazy even if it is only on the MLS and make sure your photos show off the best characteristic of your home. No photos or poor photos is a killer!

•4)     Identify the positive aspects of your home and run with it in all of your marketing and advertising messaging. Think positive, talk positive, and believe it or not, when people enter your home they will feel positive.  

 What other stigmas are there that you have encountered ?

What other potential remedies or suggestions do you have to deal with specific stigmas ?

Parts 3 and 4 are coming soon !

The Somers Team - Chris and Stephanie Somers

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The Somers - Philadelphia Real Estate

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Why Philadelphia Houses Do Not Sell ? Reason Number 1

Why Philadelphia Houses Do Not Sell ?  Reason Number 1

If you are:  1) Considering selling your property or 2) A Realtor looking to be the best listing agent you can be, then this is reason #1 of "The Somers  4 Reasons Why Houses Do Not Sell".

Reason # 1 is Insufficient Exposure

The days where you can easily sell your home by hiring a Realtor to put your home on the Multiple Listing Service (MLS) and place a For Sale sign on the lawn, are O-V-E-R !  

O= outdated   V= very outdated   E= extremely outdated   R= really outdated

Now don't get me wrong.  The MLS and signage are still vitally important, they are just not enough these days.  To sell a home, you need to let the world of buyers know, "This House is For Sale ! Buy Me !"

Expose the heck out of it !

Internet Marketing - The Somers Team

 

I've heard the latest stats that 80-84% of all buyers search the internet before even calling a Realtor.  To drive that point, I want to give you an example.  Just today, I received a call from a Philadelphia Realtor who wanted to show her client one of our listings. Now, this listing has been on the MLS for weeks, there is a lovely REMAX sign hanging in all of its glory in plain sight, and it is in a to-die-for location.  Her clients happened to see the house on one of our on-line ads. The buyers landed on our website and gave their Realtor my cell phone number.  The showing will happen today and it is another confirmation that to sell a home you need to do more.  This scenario is a daily occurrence for us.

 

Internet is where it's at!

Homes must not only appear on multiple high traffic sites such as Realtor.com but also (and possibly Internet Marketing - The Somersmore importantly) on local high traffic websites where people are searching for homes in your targeted neighborhood.  Chris and I have created 2 Philadelphia friendly websites that generate a lot of traffic for our client's listings. One website is for home buyers and sellers and the other for Philadelphia real estate investors.  Being able to provide this type of exposure is a key element in capturing leads that will lead to a sale of your property.

The good old adage Location, Location, Location is great but who cares if you are in a great location if no one knows about it ?  Exposure, Exposure, Exposure is Reason # 1 of 4 of "The Somers 4 Reasons Why Houses Do Not Sell".

Reasons #3 and #4 are coming soon.

For Reason Number 2, please click here:  "Why Houses Do Not Sell - STIGMA"

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The Somers - Protecting and Growing Your Wealth

The Somers - Philadelphia Real Estate

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Feel free to subscribe to our blog or our monthly newsletter to stay up to date with our latest posts and information on the Philadelphia Real Estate Market.  You can also sign up to receive the Philadelphia Real Estate Blog via email.

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When it takes a year to sell a Property... Do not Give Up !

Settlement Success in Castor Gardens

We had a settlement yesterday that was a culmination of a lot of hard work, communication and patience.  We originally listed this property in Castor Gardens in November 2007 and had the settlement in January 2009.  That is a long time !  There are a few very important items to take away from this.

Never Give Up !

o  Never give up on the path to success.

o  Reassess, adjust and make recommendations along the way.

o  Communication with your clients is essential, imperative and critical.

o  Know your market inside and out .

  

The property was one of few mixed used properties in the neighborhood and not the easiest to price or to appraise.  The sellers expectations were too high in the beginning but not too far off.  It took a couple of price reductions and the seller rejecting a deal before the first deal was accepted.  One deal blew up after the buyer could not obtain financing which 4 months were lost and then finally the last deal went through.

Every step of the way we communicated with our seller, got the necessary extensions and navigated through the process.  Without this, I am sure the seller would have relisted with another realtor.   We never gave up and were determined to have the goal achieved.   Further, with the trickiness of the market and the property, without our knowledge in terms of knowing the market and the sales, the last deal probably would not have gone through.

The big picture is what our market is providing is for the opportuntity for the energetic and experienced agents to gain market share as customers really need this expertise more than ever.  Further, those agents that specialize in internet marketing for their sellers will be that much more in demand as well in 2009 and the years to come !

What are you doing today to excel in this market in 2009 ?

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The Somers - Protecting and Growing Your Wealth

The Somers - Philadelphia Real Estate

Search the MLS Properties Here in Philadelphia

The Philadelphia Real Estate Blog

Click here to receive our Blog updates via email !

Feel free to subscribe to our blog or our monthly newsletter to stay up to date with our latest posts and information on the Philadelphia Real Estate Market.  You can also sign up to receive the Philadelphia Real Estate Blog via email.

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Philly Investor Hub has been Updated ! All feedback appreciated.

Philly Investor Hub

Philly Investor Hub

Philly Investor Hub has a new face and updated content.  Please take a moment to view the site and let us know what you think !

The goal of the sites is to provide resources for both buyers and sellers of Philadelphia Investment properties.  Investors can search for not only our listings but all Philadelphia properties.  Sellers also have an opportunity to have an expanded network of potential buyers when there property is marketed by The Somers on Philly Investor Hub.

In addition, we have updated "Why Philly" .

Under Resources, we have "Blogs Best" where many of our blog entries about investing in real estate or the Philadelphia market is highlighted.

We even have same of favourite investment books highlighted under Resources.

Our folks at Intention Marketing have helped us launch and update this site.  We believe it can provide a needed and important resource to individuals and businesses thinking about buying or selling investment properties in Philadelphia.  Further, as the market starts to improve, we believe it will be the investment market that will heat up first.   Being that very few agents specialize in this area, our expertise and experience becomes extremely valuable for those buyers and sellers that reach out to us.

Traffic week over week is already growing at least 10 percent according to our Google Analytics report.

We appreciate your thoughts and your feedback !  And of course, if interested in buying or selling in Philadelphia, contact Chris and Stephanie Somers at thesomersteam@yahoo.com or 215-400-2612.

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The Somers - Protecting and Growing Your Wealth

The Somers - Philadelphia Real Estate

Search the MLS Properties Here in Philadelphia

The Philadelphia Real Estate Blog

Click here to receive our Blog updates via email !

 

 

Feel free to subscribe to our blog or our monthly newsletter to stay up to date with our latest posts and information on the Philadelphia Real Estate Market.  You can also sign up to receive the Philadelphia Real Estate Blog via email.

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Martin Luther King Day - a Federal Holiday - did you work today ?

 

Every Federal Holiday is a big day to celebrate and to take a moment to appreciate the significance of each event.  Martin Luther King Jr Day is one of three federal holidays to commemorate an individual person and has tremendous meaning to our country.

Martin Luther King DayAs a Realtor, I smile when the Holidays come as the rest of the country seems to have the day off, yet we are still working !  I remember when I first became a Realtor one of the benefits was that you can choose your own hours.  Which is true... I guess.  For the most part however, we work all the time, including Holidays.  We were at the office today negotiating some deals that came in on 2 of our listings as "Time is of the essence" !

We try to incorporate more time off and more breaks to have more balance in our professional lives.  It is a challenge but something we are getting a little better at... but have much work to do ! It is one of our goals for 2009.

 

What about your schedule ?  How are you achieving balance in your career ?

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The Somers - Protecting and Growing Your Wealth

The Somers - Philadelphia Real Estate

Search the MLS Properties Here in Philadelphia

The Philadelphia Real Estate Blog

Click here to receive our Blog updates via email !

 

Feel free to subscribe to our blog or our monthly newsletter to stay up to date with our latest posts and information on the Philadelphia Real Estate Market.  You can also sign up to receive the Philadelphia Real Estate Blog via email.

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Inman Conference - Gary Vaynerchuck

Being at the Inman Real Estate Conference, Gary Vaynerchuck gave an inspiring speech.  Anyone looking for some strong inspiration, this is a must see.  It was even better in person ! 

Some of the highlights I picked up were:

1.  Get out of your house and make it happen !

2.  Own yourself - embrace your own DNA !

3.  Stop crying !

4.  Negativity rocks (not everybody wins) - this is the best time to gain market share !

5.  Build other revenue streams as part of your business.

6.  Give out content .

7.  Leverage the Community - it is one "giant ass" mixer !

 To see the video, check out Chris Pollinger's post at:  Gary Vaynerchuck from the Inman Conference

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The Somers - Protecting and Growing Your Wealth

The Somers - Philadelphia Real Estate

Search the MLS Properties Here in Philadelphia

The Philadelphia Real Estate Blog

Click here to receive our Blog updates via email !

Feel free to subscribe to our blog or our monthly newsletter to stay up to date with our latest posts and information on the Philadelphia Real Estate Market.  You can also sign up to receive the Philadelphia Real Estate Blog via email.

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Contemporary Philadelphia Condo with 2 Bedrooms in Old Kensington is Now For Sale

Just what you've been looking for.

Practical living with elegance and plenty of room for fun !

1215 N Randolph Street - $239,900 - Google Map

1215 N Randolph View

     Welcome to this contemporary living space with amazing features: 2 large bedrooms, plenty of closet space, a gas line hook-up is ready for a bedroom fireplace, a sun filled full bath, a modern and open floor plan with a huge living room and access to a lovely rear facing deck.

     The open kitchen has granite counters, stainless appliances, tall cherry wood cabinets, and a ceramic cook top stove. In the hall there is a laundry closet tucked away behind vented doors and the full size stack washer and dryer included.

     There is a kitchen pantry, bamboo flooring throughout, recessed lighting, central air, gas heat, and 8 years remaining on the 10 year Tax Abatement !

(Click on the photo above to meet Bridgette and Kittens)


Click this link for a slide show of this beautiful condo.

This condo is located in walking distance to restaurants and shops in Northern Liberties and is a short distance into Center City by car or public transportation. Street parking is plentiful. This home shows beautifully and we welcome your visit today.

If interested in purchasing or selling in Northern Liberties or Old Kensington, contact Chris and Stephanie Somers at 215-400-2612 or thesomersteam@yahoo.com .

________________________________________________________

The Somers - Protecting and Growing Your Wealth

The Somers - Philadelphia Real Estate

Search the MLS Properties Here in Philadelphia

The Philadelphia Real Estate Blog

Click here to receive our Blog updates via email !

Feel free to subscribe to our blog or our monthly newsletter to stay up to date with our latest posts and information on the Philadelphia Real Estate Market.  You can also sign up to receive the Philadelphia Real Estate Blog via email.

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Philadelphia is in the top 6 Cities for Condo Price Growth

From the article "Six Us Markets Deliver Strongest Price Growth in Condos"

 "Philadelphia-Camden-Wilmington, PA-NJ-DE-MD: This area has the highest median price point of our top six. A 1 Bed, 1 Bath high rise condo with 600 Sq Ft of living space and a city view can be had for the local median price of $207K.(1) Philly is the sixth most populous city in the US with the seventh largest GDP in the nation, as of the latest report.(4) Like Rochester, NY, unemployment was at 5.9%(2) but the median income was also the highest of the group at $74.3K.(4)"

The entire article can be found at "Six US Markets Deliver Strongest Price Growth in Condos"

Philadelphia Real EstateThis coincides with "Why Philly"  on Philly Investor Hub .

For condos that fit this description, please see:

"The Lowest Priced Condo in Old Kensington:  A Perfect Why Rent When You Can Own Property"

"Old City Real Estate - new condo listing only $187,500 from The Somers Team"

Contempoary Philadelphia Condo - 2 bedrooms in No Libs / Old Kensington

 

 

It is important to remember that each real estate market is LOCAL and to understand the market trends that are going on in each individual local market.  For questions about the Philadelphia market, contact Chris and Stephanie Somers at thesomersteam@yahoo.com or 215-400-2612.

For specific neighborhood searches, please visit The Somers Team - Search Neighborhoods .

Also, Search all Philadelphia Properties Here .

________________________________________________________

The Somers - Protecting and Growing Your Wealth

The Somers - Philadelphia Real Estate

Search the MLS Properties Here in Philadelphia

The Philadelphia Real Estate Blog

Click here to receive our Blog updates via email !

 

Feel free to subscribe to our blog or our monthly newsletter to stay up to date with our latest posts and information on the Philadelphia Real Estate Market.  You can also sign up to receive the Philadelphia Real Estate Blog via email.

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The Lowest Price Condo in Old Kensington: A Perfect "Why Rent When You Can Own" Property

$184,900

1232 N Randolph Street, Unit 2 in Northern Liberties / Old Kensington

(Also known as the home of Carbon the cat. Click the photo below to meet Carbon !)

Kitchen for 1232 N Randolph Street Unit 2

 We invite you to see this cozy 1 bedroom, 1 bath, condo that offers beautiful finishing touches and upgraded living essentials without the high-end price tag. Some of the features include:

Brazilian cherry hardwood floors in the living room foyer and study

Beautiful slate floors in the kitchen

Granite counter tops

Rich cherry wood cabinets

Stainless appliances

Plenty of windows for natural light 

1232 N Randolph Bathroom

The full bath is spacious, modern and bright. There is a full size stack washer and dryer neatly tucked away and out of sight in the hall. The bedroom is very large with plenty of space for furniture and there are 2 additional storage spaces in the huge bedroom closets.

The condo fees are incredibly low - $91/mo and taxes are only 399/yr! The property is only 2 yrs old and in great condition. Central air and gas cooking and heat.

This home is located in walking distance to all of the hot restaurants, entertainment, and shops in Northern Liberties and it is minutes from Center City by car or public transportation.

We welcome you to visit this fantastic property today!

1232 N Randolph - Google Map

If interested in purchasing or selling in Northern Liberties or Old Kensington, contact Chris and Stephanie Somers at 215-400-2612 or thesomersteam@yahoo.com .

________________________________________________________

The Somers - Protecting and Growing Your Wealth

The Somers - Philadelphia Real Estate

Search the MLS Properties Here in Philadelphia

The Philadelphia Real Estate Blog

Click here to receive our Blog updates via email !

Feel free to subscribe to our blog or our monthly newsletter to stay up to date with our latest posts and information on the Philadelphia Real Estate Market.  You can also sign up to receive the Philadelphia Real Estate Blog via email.

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Don't Forget About the Real World !!

 Don't Forget About the Real World !!

A week ago being at the Inman conference, there was so much information that I gathered I have been on information overload. 

Don't Forget About the Real WorldOne of the topics that was discussed by Ines and Jay Thompson was "Don't forget about the real world - using your offline efforts to support your online endeavors".  The one thing to take away from this discussion was "Get off your computer and get out in the world".  I think a reminder is that yes it takes hard work to get to page 1 on Google, but ultimately it is more important to make live connections with people.  Even more important than that, taking advantage of the opportunity to meet people, network, gain a few clients, do excellent work and ultimately grow your sphere of influence !!

I have seen it myself where I am in the middle of writing a blog, or doing some other social media stuff and the phone rings and I am hesitant to answer it because I am "busy"... WHAT ??  Or even worse, I may look to put off my follow-up calls because I want to get a new blog in or am doing something else on a Facebook, Plaxo or Twitter page... WHAT ??    Obviously our growth in the social media arena and the blogosphere is important, but nothing is as important with connecting with people - answering the phone, making appointments, getting off the computer and getting out in the real world.

I think this reminder applies to all of us no matter what industry we are in as the computer can be addicting... take a break and get out in the real world !

Some interesting suggestions we learned at Real Estate Connect that helps integrate online and offline marketing efforts were:

o   Pick a couple of your favourite restaurants and blog about them in a restaurant review.

o   Do a series post such as "Fun Fridays" or "Wordless Wednesdays"

o   Get out in your community - there are blog topics everywhere you look !

Bottom line is "Don't Forget About the Real World"  ! 

________________________________________________________

The Somers - Protecting and Growing Your Wealth

The Somers - Philadelphia Real Estate

Search the MLS Properties Here in Philadelphia

The Philadelphia Real Estate Blog

Click here to receive our Blog updates via email !

 

 

Feel free to subscribe to our blog or our monthly newsletter to stay up to date with our latest posts and information on the Philadelphia Real Estate Market.  You can also sign up to receive the Philadelphia Real Estate Blog via email.

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