3 Tips for a Hard-to-Sell House

Here are three last-ditch suggestions from SmartMoney magazine to move a house when the usual sales techniques haven’t worked.

• Auction it off. The number of residential auction sales is up 8 percent in 2005. It’s faster, although if you don’t get enough bidders, the price can be less than you might have hoped. Setting a starting bid will make sure you don’t get stuck with a ridiculously low price. The National Auction Group will handle the details. It works with local real estate professionals.
  
  
• Spread the word in cyberspace. From well-known sites like Craigslist and eBay to newcomers like HomeToursOnline.net and ChoiceofHomes.com. Practitioners can handle the details for their customers.
  
  
• Throw in a bonus. Encouraging the seller to pay for all allowable closing costs is a tried-and-true approach. But sweetening the pot with things like a car or a vacation to someplace glamorous also can appeal to some buyers.
  
  Source: SmartMoney, Jim Rendon (02/10/06)
  

Do's & Dont's about home improvements

According to the latest Consumer Reports....

Do: The best way to boost the value of your home is to add square footage that will bring your house up to - but not beyond - neighborhood norms. Renovations that merely update styles will only sell your house faster if you sell when the style is, well, in style.

Don't get ahead of the Joneses: Over-improving yields diminishing returns. You'll get the biggest bang for your buck by keeping up with the Joneses, not by going them one better. For example, don't add a swimming pool or a third story if you're the only one on the block to have one.  

Ten Reason to Market Your Home Now!

        Pricing Power - In most markets sellers are able to sell for top dollar as low interest rates and high demand has fueled a rush of buyers into the market place.

1. High Demand - Low inventory in most markets means that the number of buyers competing for each home is higher than it has ever been. This also means that the time it takes to secure an acceptable offer has dropped considerably.
2. Low Interest Rates - Interest Rates have remained at 30 year lows despite the fact the Federal Reserve has hiked rates for the past several quarters. Today's low rates mean more buyers can afford to purchase more amenities and pay higher prices than in the past.
3. Fewer Contingencies - Because many buyers have been able to sell their homes quickly many are able to write offers that are not contingent on the sale of their home.
4. Flexible Financing - Many buyers today are able to enjoy hundreds of different possible loan programs from ARMS, to reverse amortization mortgages, and even no-documentation loans. This flexibility means more buyers can afford to buy homes than ever before.
5. Timing Control - Sellers who need more time to move, find a replacement property, or move into a rental can be more selective in choosing which offer best suits their needs. They can also specify their timing needs in advance.
6. Tax Savings - Sellers who have owned their home for two of the past five years, and lived in their home for two of the past five years may be able to take up to $250,000 as a single person or up to $500,000 as a married couple in tax free gains out of the sale! See www.irs.gov for details.
7. Nationwide Market Expansion - The national housing market is now at record levels. This may mean more out of state buyers than ever before as potential buyers for a sellers home.
8. Home Ownership Rates - The number of American families who own a home is at all time high - 70%! This is good news for sellers - as more, and more families recognize the value and wealth building potential of owning real estate.
9. Discounted Rental Rates - Although home prices have climbed steadily over the last several months, rental rates in most areas of the country have not kept pace. This can be good news for sellers who would like to take their time finding their next home

How do you prepare your home for sale?

Many factors come into play in preparing your property for showing.  Before you start presenting your home to prospective buyers, there are some things you can do to spruce it up, without spending a lot of money.

Buyers decide to visit a home after they’ve driven by it. If they like the outside, they’ll go inside, so to make sure they like the outside, your first concern should be the “curb appeal” of your home. Keep the lawn and landscape nicely manicured. Water regularly. Trim the bushes and plant some flowers. Be sure your front door area has a "Welcome" feeling. A fresh coat of paint on the front door looks great.

Now, let’s move to the inside. Of all the rooms in your house, pay special attention to the kitchen and bathrooms. They should look bright and fresh. It is very important that they are clean and odor free. It may be a good idea to hire a professional cleaning crew every other week while your home is on the market. A fresh coat of paint and replacing door knobs will give your kitchen and bathrooms a fresh new look. If your kitchen is a constants reminder of the 70's, consider painting your appliances and changing the acrylic ceiling panels that have turned yellow with time for brand new ones; this will make your kitchen much brighter.  Keep your kitchen countertops cleared from clutter and fix leaky faucets.

Finally, for every showing make sure you replace all burned out light bulbs, open all drapes and window blinds, put pets in cages or take them to a neighbor, remove RVs or unappealing cars from the driveway, clear dirty dishes from the sink and laundry from the washer/dryer, put some soft music and light a scented candle or bake something (an apple with sprinkled cinnamon smells like home for the holidays)

Right About Real Estate

Right About Real Estate Welcome