| If you have a home for sale or are thinking | | | | are interactive real estate sites that bring |
| of putting your home on the market, you have | | | | sellers and buyers together. The best sites |
| probably been closely following the recent | | | | offer owners a free, six-month property |
| housing-related news. The media has | | | | listing with no obligation. Creating a site |
| speculated that the real estate "bubble" is | | | | listing isn't an involved process; in fact, |
| bursting and issued warnings about the | | | | it typically takes no more than 15 minute, |
| potential of a looming crisis resulting from | | | | including the time it takes to upload |
| subprime mortgage lending practices. | | | | photographs. This type of site serves to give |
| | | | your home added exposure to property seekers, |
| Like many media stories, those about the | | | | who can search properties by major region, |
| housing market often make generalized | | | | country, province or state, and type of |
| statements and ignore either the subtleties | | | | property. |
| or the larger picture. While it's true that, | | | | |
| in the United States, houses are on the | | | | Because of the fluctuating housing prices in |
| market about twice as long as they were a | | | | some markets, there are people who reconsider |
| year ago, the drop in housing prices hasn't | | | | putting up their home for sale - especially |
| affected all parts of the country equally. In | | | | if it is a second home or a vacation home. |
| fact, the current real estate situation isn't | | | | Instead, they opt to turn it into a home |
| even confined to the United States. In recent | | | | rental and go the "for rent by owner" route. |
| interviews, former U.S. Federal Reserve | | | | If the property is located in a vacation |
| Chairman Alan Greenspan has noted that | | | | destination, they often choose to make their |
| housing markets are making corrections in | | | | property into a vacation rental. This way, |
| countries ranging from Great Britain to | | | | they can cover the expenses associated with |
| Australia. | | | | owning the home (and perhaps earn additional |
| | | | income) until the housing market stabilizes. |
| What does this mean if you have a house for | | | | |
| sale? Depending on where it's located, you | | | | As is the case when an owner has a home for |
| may need to adjust your asking price | | | | sale, interactive real estate sites provide |
| slightly, so that it is in alignment with | | | | those who own vacation rentals, condo |
| today's market prices. More importantly, | | | | rentals, villa rentals, or even an apartment |
| however, you need to utilize every tool | | | | for rent, an addition source of free |
| available to showcase your real estate for | | | | advertising to potential renters and |
| sale - especially if you're in a "for sale by | | | | vacationers. |
| owner" situation. After all, real estate is a | | | | |
| numbers game, and one of the most important | | | | In today's real estate market - whether you |
| numbers is how many potential buyers see your | | | | have a home for sale or choose to convert |
| property. | | | | your real estate into a rental property - it |
| | | | pays to maximize your exposure to buyers and |
| One of the tools people underutilize when | | | | renters through an online interactive real |
| they have a home for sale is the Internet. In | | | | estate. |
| addition to a multiple listing service, there | | | | |