Unbelievably low and favorable home prices, low home loan rates, and tax credits are luring many first-timers into the market.

Although favorably priced foreclosures and short sales may be the most appealing option to first-time buyers, traditional sellers also are able to compete for and attract these buyers.

KEEP THIS IN MIND:

• One advantage traditional sellers have is that lived-in, well-maintained homes are easier for buyers to imagine themselves living in compared with vacant foreclosed homes. Lived-in homes have great appeal to first-timers for practical and financial reasons.

• A survey conducted last year found that 81 percent of first-time buyers said move-in conditions were very important, while only 7 percent reported they were looking to purchase fixer-uppers.

• Lived-in homes offer warmth and emotion; a sentiment that some agents say can go a long way in selling a property. Additionally, these properties likely have well-maintained lawns and landscaping, as opposed to vacant, foreclosed homes, often which have dead or overgrown lawns.

• Extra touches like a fresh coat of paint, de-cluttering, and the removal of unpleasant odors will help to make a good first impression with buyers.

• Offering to help pay closing costs or buy down a mortgage rate also can help traditional sellers compete in today’s market. These may be enticing options to buyers, especially those who plan to live in the home for more than a few years.

• To help buyers more easily transition into homeownership, sellers may want to consider offering a home warranty that covers major systems in case problems arise after the sale closes.

• Most buyers know that home prices have declined in many markets, so they’re being more aggressive in their offers. Sellers are advised not to quickly write off low-ball offers. As many agents advise, every offer deserves a counteroffer to get the conversation started.

To read more about tips on this subject see the full story.

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