This blog is similar to the one I posted for Algiers. 

Terrytown and Gretna market update as of 8/1/2007:

This information is provided by the Gulf South Real Estate Information Network

As of 8/1/2007, there were 259 active listings in Terrytown and Gretna, with an average list price of $201,553.  Who is fooling who here? 

Hellooooo...Mr. (or Ms.) Seller... here are some questions to ask yourself:

Is my house overpriced for the neighborhood?   If you have been on the market for more than 90 days, it's time to take a fresh look at your price, the competition and the current comparables with an updated market analysis.  I know it's hard to let go of that dollar amount you want to get at the closing.  But, how much is it costing you each month to maintain your property?  Taxes, insurance, mortgage payments...they all add up and could be saved with a lower price and faster sale.  And for those sellers who say they "need" to get a certain price to move on to their next house, remember that the market doesn't care about what you need.  Before making an offer, buyers will be looking at the same (or updated) comparables that your agent used to help you determine a listing price.  Make sure that your price falls within the reasonable range for your area. 

Is my house "show ready"?  Look at it from the buyer's perspective.  If you had 30-40 houses in your price range to choose from, would you pick the one that has no curb appeal, dirty dishes in the sink and needs new carpet and fresh paint OR would you choose the home ready to move into?  I hear a lot of sellers say that they will give an allowance for the buyer to make changes.  First of all, how does the buyer know that?  Secondly, most buyers don't have the vision to picture that purple bedroom with the worn, stained carpet redone with new paint and flooring...or don't want the hassle of doing the work required.  Take the time to make your house the best value in its price range.  Visit http://www.stagedhomes.com/ for some easy home staging tips to make your house shine both inside and out.  Even if you only take away 1 or 2 ideas for improvements, you are further ahead of the game.  Or, ask that friend of yours who is brutally honest (we all have one!) to take a walk through your home and tell you what needs to be changed.

Is my house easy for agents to show?  If you only allow appointments on Tuesdays after 3pm...or need 2 days notice for all showings...or won't allow your agent to install a lockbox...your house is not easy to show and will end up being passed over by agents who have a long list of available properties in the same subdivision.

I hope to keep everyone up to date on the market as changes happen.  If you have a question or a comment, drop me a line at lheindel@latterblum.com.  Hope to hear from you soon!