Tips for Pre-Sale Preparedness

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What do we do when we are looking for love, go out to meet others and attract their interest?  We make sure we look our best, present our best effort and highlight our endearing qualities to “reel in” the perfect catch.  The real estate market is no different.  When you are selling a home, you are looking for the perfect buyers to show interest in your home and you hope to share with them what it is you love about the house.

Like meeting a new person in the dating scene, selling a home can be a hit or miss game but unless you make the effort to present your home in the best light, you may be in for a string of not-so-perfect buyers that are less than interested in making an offer.  Here are some things you can do to make sure that buyers get that twinkle in their eye when they first set their sights on your home.

Make Them Love It At First Sight

The old adage about not judging a book by its cover certainly does apply to properties but the last thing you want to do is lose a potential sale because you haven’t paid attention to first impressions.  Most homeowners these days have watched some HGTV and one of the things that come up in many of their shows is “curb appeal”. Curb appeal refers to how attractive or enticing the exterior of a home is in terms of landscaping, the driveway area, front porch, entryway, garage and other exterior features.

It goes without saying that you should repair any damage and clean up areas that are out of sorts.  Adding soft touches like some flowers or even some professional landscaping can also make a world of difference in buyers’ impressions of the home.  If you are showing a home after dark, one thing you can do is to turn on exterior lights, creating an appealing peek through as people first drive up to the home.

Keep Things Classic, Clean and Clutter-Free

Nothing is more of a turn off to buyers than a home filled with too much stuff. The last thing buyers want to see is closets and counter space bursting at the seams with too many things, an over-abundance of personal items or a mismatched and unattractive arrangement of furniture.  Classic, simple décor with clean lines and neutral colors is most appealing. Not only does this allow them to see the actual house but it also gives them the opportunity to visualize their own customization in the space. 

Walk through the home and remove all extra items that are lying around, clear off kitchen counters and remove all personal items from bathrooms and other surfaces.  Imagine walking into the perfect hotel room – while looking lived-in, the space is still elegant without too many things crowding the space. 

Highlight the Home’s Features

Whether showing off shiny granite countertops, impeccable resurfaced wood floors or displaying the backyard pool – it is important for buyers to be able to see all that the home offers in terms of amenities and features.  If the walkout basement is a strong selling feature, you could clear the area and pose potential uses for the space such as making it a media room or workout area.  When buyers see versatility with which the space is utilized it will create more interest in your home.

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Remember, buying a home is just like finding a new love.  There must be chemistry.  And unless you make the effort to present the home in its best light, chances are you will not find the perfect buyer.

Market Update - September 2012

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As we transition into the final quarter of the year, we are seeing some positive changes in our marketplace. Overall, things are headed in the right direction. Plus with the 2012 Presidential Election around the corner there are some good things to be expected with the economy. Taking a look at the number of available properties on the market, the time it takes for homes to receive an offer, interest rates and more – we can safely say that things are turning around. Here is a closer look at these statistics with respect to these important aspects of the market.

Fewer Homes Available on the Market

Looking at the same time last year, we are seeing fewer homes available on the market. What this is does is to increase demand which in turn then acts to increase home prices. This trend has been seen across the nation and is emulating in our own neighborhoods as well – paving the way for an even stronger market in the months ahead.

Number of Sales Continue to Rise

This year we have seen an increase in the number of sales with 194 till date as opposed to 184 in 2011 within the same time frame. This indicates better consumer confidence as well as buyers tapping into the resources and programs out there available to them. Buyers are eager to lock in historically low interest rates and sales are happening.

Short Sale Process Becoming More Streamlined

There have been some recent changes on a national level in terms of short sales where the National Association of Realtors’ President engaged in talks with the FHFA to help simplify the short sale process. In our local marketplace, short sales have been moving faster and relatively smoothly – owing to banks’ desire to shorten escrow time frames. Conversely, we are seeing an increase in the number of short sales however with smoother processing it will likely be less cumbersome.

Interest Rates Still Very Low

We are still seeing all time low interest rates that are making it more affordable than ever before to own a home. Right now buyers can get anywhere from 3.5% to 4% on a 30-year fixed rate loan. In addition, there are mortgage programs where buyers are only required to make a 3.5% down payment, making it possible for a much wider spectrum of buyers to own a home.

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All in all, we are looking at good market conditions. The number of days it takes to sell a home is shorter (just 65 days) in our office than our region’s average of 100 days. If you have been on the fence about selling your home, now is a good time to re-evaluate your situation with how it relates to the factors mentioned in this article. Without a doubt, this is also still the best time to buy a property considering prices and interest rates.

For a custom consultation to discuss your needs, contact us today – we welcome the opportunity to serve you!