You hear about the real estate market in the news every day, but don't let the doom and gloom from the media scare you. If you want to, you can still sell your home in 2008. What you need to do though is start thinking about how you are going to make your home stand out from the crowd and get noticed.
Since home owners are not recouping home improvement costs like in recent years, it is important to emphasize some of the top things that will sell your home. You need your home to be well maintained, neat, clean, spacious looking and ready to move into.
It has been the custom of many sellers to take on remodeling projects to improve the home and then raise the asking price to pass those costs on to the buyer. In today's market sellers may not get that higher asking price for the improvements.
In order to keep your costs lower you should consider the following.
Ask and expert for advice. Your Realtor should be able to assist you with a walk through of your home with a list of improvements that will make the difference between selling and not selling. Things like painting walls, taking down wallpaper and cleaning carpets are common items that need attention.
You also need to de-clutter the home by moving large furniture items and clutter to storage to make it have a spacious appearance. Clean it like you have never cleaned before. Mr. and Mrs. Clean should live there.
Check below the surface. Address any maintenance issues that you have been holding off on. Fis them now and have your home professionally inspected prior to listing to find anything that you may be missing. You do not want something popping up and crashing a potential sale. The thing is that every for every dollar a buyer can see needs to be fixed, they will want $2 or $3 off the price of the home.
In the buyers mind they will think that maintenance on this was neglected, what about the rest of the house?
Freshen up the bathrooms. When people are looking for a home to purchase they can often overlook other areas of the home if they know that the bathroom is ready to be used when they move in. You should ensure that the bathroom is clean and in good repair. Replace anything that is broken such as cracked tiles, sinks or toilets. A new toilet can be as little as $250 which is a small price to pay for selling your home.
Check the exterior. Look around the exterior in detail for the condition of the windows, siding and any landscaping issues. When you check the statistics for replacing exterior items, replacing wood windows with new will recover an average of 81% of the cost and siding replacement an average of 83% of the cost. Both of these will result in a much quicker sale.
Keep any kitchen remodels small. It has been shown that a home owner can recover an average of 83% of a minor kitchen remodel versus only 78% of the cost of a major kitchen remodel. Hold off on the appliances as the potential home owner just may have their own preferences when selecting these.
Replace the counter tops if there is damage but not if it is only outdated. When you do update them look at your competition to determine what material to use.
By following these tips and the suggestions of your real estate professional you can still sell your home in 2008.
Here are some helpful hints on how to sell your home in todays Florida real estate market.
1. Understand what market value means.
Its not what your friend sold his house for two years ago or even two months ago. Its not the value your latest tax assessment was based on or what an appraiser said the house was worth a year ago. It is exactly what someone is willing to pay for your house today. Hence, price realistically and broaden incentives, such as closing costs and throw-ins like appliances, flat-screen televisions, etc. There is an old saying: Theres nothing wrong with a home that the right price cant fix.
2. Dont be an as-is seller.
That is, unless you absolutely have to be one. Potential homebuyers arent looking for fixer-uppers in the current market unless they are rock-bottom, bargain-basement priced. Large volumes of foreclosed homes are already being sold in poor condition at auction.
3. Hire a top performer.
These days, you need an agent who outshines the others and routinely posts better-than-average sales numbers year after year. Agencies may try to steer you toward less-seasoned agents, but if youre paying the commission, then the hire should be your call. The best agents have an innate sense for that right price and right marketing plan. They can suggest the necessary repairs and tweaks while targeting your home to the right buying group. Caveat: In selecting an agent, the percentage of listings sold is generally a better performance barometer than a high volume of sales.
4. Know your markets nuances.
No two markets are exactly alike. Yes, most sellers are now swimming upstream. But there are always counter currents to consider. In many areas, modestly priced homes have bigger buying pools because tighter mortgage qualifications are keeping buyers out of more expensive homes. A little research and a savvy agent can give you an edge and an education.
5. Use the Internet.
According to a reputable website, total time spent online rose 24.3 percent from the fall of 2006 to the fall of 2007. Yes, people are still scoping out newspaper classified ads and real estate listing magazines, but more and more Americans have been wired to at least start their home shopping online.
6. Use other peoples money.
You dont have to sell for a big loss to get out from under your rising mortgage payments. If you can, rent out your home for a sum that covers your house payments, insurance, taxes and maintenance costs. Do try to roll in a slight buffer to cover unanticipated expenses. And realize youll need capital to refresh the place when the market stabilizes and you take off your landlord hat to prep the home for sale again. Or consider offering lease-to-own terms to your renter and you may not have to worry about the future sale.
7. Become a lender.
Tough times call for unconventional measures. Consider carrying part of the buyers note with interest, secured by an asset belonging to the buyer. Do so only after a thorough credit check and only if you can afford to wait for the balance of the purchase price. This, by the way, is not a game for the faint of heart.
8. Simplify and neutralize.
In this sales environment, youve probably already been told to focus on curb appeal, add fresh landscaping and de-clutter the house by removing family photos and heirlooms or other items you dont need or use on a daily basis. But lets take it a step further. Paint your rooms a neutral color. Hire a redesign or home-staging firm to help you present your home in optimal condition and give potential buyers a chance to envision their possibilities there. And while youre at it, get a pre-listing inspection, which will reveal any defects your home has and allow you time to make repairs. Then provide a copy of the report to buyers, attaching a list of the fixes you made.
Buyers are in an enviable position, with plenty of homes on the market, and sellers who are willing to bargain.
Here are some helpful hints on how to sell your home in todays Florida real demesne market.
1. Realize what market value means.
Its not what your friend sold his house for two years ago or even two months ago. Its not the value your latest tax assessment was based on or what an appraiser said the house was worth a year ago. It is incisively what someone is willing to pay for your house today. Hence, price realistically and broaden incentives, such as closing costs and throw-ins like appliances, flat-screen televisions, etc. There is an old saying: Theres nothing wrong with a home that the right price cant fix.
2. Dont be an as-is seller.
That is, unless you absolutely have to be one. Potential homebuyers arent looking for fixer-uppers in the flow grocery store unless they are rock-bottom, bargain-basement priced. Large volumes of foreclosed homes are already being sold in poor condition at auction.
3. Hire a top performer.
These days, you need an agent who outshines the others and routinely posts better-than-average sales numbers year after year. Agencies may try to steer you toward less-seasoned agents, but if youre paying the commission, then the hire should be your call. The best agents have an innate sense for that right price and right marketing plan. They can propose the requirement repairs and tweaks while targeting your home to the right buying group. Caveat: In selecting an agent, the pct of listings sold is generally a better performance barometer than a high volume of sales.
4. Know your markets nuances.
No two markets are exactly alike. Yes, most Sellers are now swimming upstream. But there are ever heel currents to consider. In many areas, modestly priced homes have bigger buying pools because tighter mortgage qualifications are guardianship buyers out of more expensive homes. A little research and a savvy agent can give you an edge and an education.
5. Use the Internet.
According to a reputable website, total time spent online rose 24.3 percent from the fall of 2006 to the fall of 2007. Yes, people are still scoping out newspaper classified ads and real estate listing magazines, but more and more Americans have been wired to at least start their home shopping online.
6. Use other peoples money.
You dont have to sell for a big loss to get out from under your rise mortgage payments. If you can, rent out your home for a sum that covers your house payments, insurance, taxes and maintenance costs. Do try to roll in a slight buffer storage to cover unforeseen expenses. And take in youll need capital to refresh the place when the market stabilizes and you take off your landlord hat to prep the home for sale again. Or consider offering lease-to-own terms to your renter and you may not have to worry about the future sale.
7. Go a lender.
Tough times call for unconventional measures. Consider carrying part of the buyers note with interest, secured by an asset belonging to the buyer. Do so only after a exhaustive credit check and only if you can afford to wait for the remainder of the purchase price. This, by the way, is not a game for the faint of heart.
8. Simplify and neutralize.
In this sales environment, youve probably already been told to focus on curb appeal, add fresh landscaping and de-clutter the house by removing crime syndicate photos and heirlooms or other items you dont need or use on a daily basis. But lets take it a step further. Paint your rooms a neutral color. Hire a redesign or home-staging firm to help you present tense your home in optimal condition and give potential drop buyers a probability to envision their possibilities there. And while youre at it, get a pre-listing inspection, which will reveal any defects your home has and allow you time to make repairs. Then provide a copy of the report to buyers, attaching a list of the fixes you made.
Buyers are in an enviable position, with plenty of homes on the market, and Peter Sellers who are willing to bargain.
Both Bruce Swedal & Ben Needles are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Bruce Swedal has sinced written about articles on various topics from Real Estate, SEO Articles and Marketing Tool. When you want to sell your home wouldn't it be a good idea to have it listed on the website with the most traffic? Find additional resources at the Au. Bruce Swedal's top article generates over 60500 views. to your Favourites.
Ben Needles has sinced written about articles on various topics from Business Credit Cards, Anger Control and Business Credit Cards. About the Author (text)Carey FrankelPhyllis Frankel Realty GroupContact Us: (800)999-0245. Ben Needles's top article generates over 550000 views. to your Favourites.