Selling in a Slow Market

If your local real estate market is slow, consider offering buyer incentives. They don't have to cost you a lot, but they will give your home the edge over similar homes on the market.

Offer a home warranty.
Offer to buy down the buyer's mortgage interest rate. This may cost a couple of thousand dollars, but that's likely to be less than what it will cost you if your house languishes on the market.
Offer to pre-pay a year's worth of association fees.
Offer a year's worth of professional lawn mowing.
Offer credit toward the buyer's closing costs.
Offer a weekend getaway at an attractive lodge or hotel.
Lower your asking price.

100% Financing

The United States Department of Agriculture offers a little-known financing program that can help lower-income families purchase homes. With funding up to 100% of the purchase price, mortgage payments would be based on the household's adjusted gross income.



Commonly called Section 502 loans, the program offers some advantages for those who are unable to obtain conventional financing.

A few advantages include:

• 100% financing with no down payment
• No maximum purchase price
• Buyer's closings costs may come from any source, including gift money
• Home repair and improvement monies can be included in the loan
• 30-year fixed rates
• No minimum credit score
• Mobile homes on land may be eligible

Typically, the properties would need to be in a rural area with modest prices for the area. Buyer's income typically will need to be below the median income for the area. The link below will take you to the USDA Rural Development website to search for eligible properties by address. You can also find the maximum income allowed based on geography and family size. Go ahead and take a look. You might be surprised at how many homes can qualify just minutes outside of town.