How to Price Your Home So it Sells Setting the right listing price for a home is important in a buyer's market. Here are some tips on how to do that from day one. Understand the trend. When home prices are moving lower, start at just under the market rate to avoid playing catch-up. Some savvy sellers price low enough to draw competing bid, netting more than they might have by starting higher. Know your home. Some sellers overprice their homes because they don't appreciate the upgrades and extras that comparable homes on the market have. Just because homes are nearby doesn't mean they all have similar values. Know your neighborhood. Are buyers in the area seeking a fix-and-flip opportunities or a trophy home? First-time buyers, a larger share of the market this year, want a good value without major renovations, while investors are often focused on the bottom line. Measure your endurance. Study how quickly homes are selling in the area - the absorption rate - and price accordingly. Some sellers price too high given their ability to wait out the market, only to surrender months later with a huge price cut. Don't kill the messenger. Some real estate agents tell sellers what the want to hear. The experienced and ethical ones will suggest a price even if the seller doesn't want to hear it. The first sell hope, the second will sell your home. Posted 7/27/10 Five Tips to Beat the Competition Selling a home isn't easy in most markets today. To get the typical buyer to bite and submit an offer, a house has to stand apart from the competition - and there's a lot of it, including foreclosure homes that are selling at hefty discounts. One big thing working in favor of the traditional seller: a lived-in, maintained home is easier for buyers to imagine themselves living in than a vacant foreclosure. That has great appeal for someone buying a home.  For practical and financial reasons, buyers are skeptical of buying homes that need improvement. A survey of real estate brokers last year said that affordability was the number one concern for their buyers, but 81% also said move-in conditions were also very important to these buyers. Only 7% said their buyers were looking to purchase fixer-upper homes that they could buy on the cheap and renovate. Those feelings are likely just as strong today as lenders generally require larger down payments, unless the mortgage is backed by the Federal Housing Administration (FHA). Higher down payments mean buyers have less cash left over for improvements. Buyers are doing all they can to save for the down payment and that depletes the funds a home buyer will have for repairs. Buyers are concerned about out-of-pocket expenses upon taking ownership. While foreclosures that are in severe disrepair can be a huge turnoff for most buyers, some banks will make improvements to their foreclosure stock, fixing them up so that they meet FHA standards and a buyer's needs. These homes can be stiff competition for the rest of the for-sale inventory. Never fear, there are still ways to outshine other homes on the market. Assuming the home is priced correctly, here are four ways to lure a buyer: Maintain and Stage. A home that has been taken care of throughout the years will offer a stark contrast to a vacant, empty foreclosure. If someone is living there, the landscaping is not dead and there is some warmth in the home. That can go a long way in selling a property, because a house has to feel like a home in order to engage a buyer's emotions. As with any home, a fresh coat of paint, decluttering and the removal of unpleasant odors can go a long way to making a good first impression. But be careful not to over-improve the home, because the return on investment might not be worth the cost. Mention Up front that You'll Help Pay Closing Costs. Whether it's in the marketing material or inside the listing, this could be an extra motivator to reel a buyer in. In many price ranges, there's a good chance they'll ask for closing cost help anyway, but it might pay off to be proactive and offer it at the beginning. Offer a Home Warranty.  Buyers are often coming from a rental, and they are used to calling a landlord when there's a problem. To help them more easily transition into home ownership, provide them a warranty that covers major systems when problems arise.  Don't Snub Low Offers.  Buyers know prices have fallen, so they're being aggressive in their offers - sometimes extremely aggressive. But even if they come in with a shocking "lowball" offer, don't scoff at it. Understand where they're coming from, and try to compromise. Almost every offer deserves a counteroffer.  At least counter them back. It gets the conversation going.  If the buyers liked the home enough to make an offer, it's possible you can arrive at a mutually acceptable price. Posted 5/24/10 Make Your Home Shine It's a common fact that clean homes net more money.  Most buyers are turned off by even the smallest amount of uncleanliness or odor when looking at homes.  Seller often lose thousands of dollars because they do not adequately clean their homes or rid them of offensive odors. If your home is squeaky clean, you will be able to sell your home faster and net more money. If you are planning on moving, why not get rid of that old junk now - your house will actually appear larger   Create a greater feeling of space by pre-packing clutter and collections  Scrub your kitchen and bathrooms - those rooms need to sparkle!  Eliminating odors is essential, especially if you have pets, young children in diapers, or a smoker in the house A little work now can pay huge dividends at closing. Posted 4/7/10 Make the Most of Curb Appeal Many buyers choose to drive by your home before deciding to set an appointment to view the interior.  An attractive yard that is free of debris will quickly gain interest.   Make sure that your trees and shrubs are trimmed and that your home can be seen from the street.   Have the grass mowed, trimmed and edged. Add fresh mulch to beds. Your walkways should be clear - shoveled in winter and swept during the rest of the year.   Remove parked cars and RVs from the driveway and the curb in front of the house.   During the growing season, plant flowers to add color. Remember, if the buyer doesn't like the outside, that person will simply drive on to the next house.  Get your home ready for drive by traffic and give folks something extra nice to look at. Call us today for a no-nonsense, no obligation assessment of your home's value and let us show you the key factors for getting a top dollar sale on your home.  We would definitely like to help you in any way we can. Posted 3/26/10 Staging Your Home If you want to stage your own home (to improve that all-important first impression) here are some tips to help you achieve a home that is not only market-ready, but conveys a sense of warmth and comfort from the moment you enter.. Depersonalize the space - remove diplomas, trophies, and family photos Furnish each room as advertised - have a table in that dining room and a bed in that bedroom.... Pre-pack clutter and collections                                                                                                  Remove appliances from counters Keep the wall colors light and neutral to appeal to a broader range of buyers Balance furniture by weight and scale around the natural focal point of the room - all parts of your design should appear visually balanced Wall art should be tastefully framed and hung at gallery height Feed the senses when staging.  Keep in mind that decor should appear to a buyer's sense of touch, sight, sound, taste and smell.  An interesting room will evoke buyers' emotions, so they can envision themselves living in the home.  A home staged with style, taste, and aesthetics will appeal to a buyer's emotions regardless of whether they have ever lived that way before. Posted 12/16/09 Selling a Home that has a Pet When it comes to selling a home, homeowners often don't realize that their fine feathered and furry friends may leave some potential buyers feeling like they're barking up the wrong tree. From cats jumping onto kitchen counters, unsightly litter boxes, dogs barking during a showing, carpet stains, messy food bowls, pet hair and dander on furniture... the tell-tale signs of pets can be a big turnoff for many buyers. Pets under foot will quickly put a damper on an otherwise positive showing.  A buyer afraid of or allergic to animals will quickly leave the home. Or, a buyer will fax in love with the pet and not pay any attention to the home.  Since first impressions are everything, what's a pet-loving homeowner to do? Presentation is everything. Home sellers need to distinguish themselves from their competition in a good way, and minimize any of the distractions - and pets are a distraction, no matter how cute they are. Take your pets with you when your house is being shown Hide fool and water bowls Stash pet toys, crates, carriers and leashes Keep litter boxes clean and out of sight Remove dog beds Neutralize pet odor Bathe and groom pets more than usual Repair visible signs of pet damage, such as scratched walls and floors If possible, send your animal on vacation - to a friend, neighbor, kennel, pet-sitter or vet If they cannot be removed for showings, confine your pets in a room or cage to avoid the risk of having them escape Posted 12/7/09 Fresh Paint Works Wonders If your home has chipped paint, exposed wood, or surfaces that look faded, it's time for new paint.  New paint will make your entire home smell clean and fresh, and will help your home sell for top dollar.  And, if your carpet is worn, stained, outdated or an unusual color or style, you should also seriously consider replacing it. Many homes don't sell simply because they need fresh paint and carpeting.  Don't think that buyers have more money than you do to freshen up your home.  They typically don't.  They will simply look elsewhere for a home that needs less work. Please let us know when you are ready to sell and we can help you prepare your home for today's market. Posted 11/22/09   10 Mistakes Sellers Make This short humorous video explains in a clear concise way what sellers need to do to in order get their homes sold.  Click here to watch video.  (After the link opens, click on the "full screen" icon at the lower right corner of the video screen.) Posted 1/7/09   Prepare Your Home for Showings Following these simple tips will make your home stand out... Keep all lights on - even on the sunniest of days Keep all drapes and shutters open Leave soft music playing at a low level All the beds should be made Sinks and countertops should be clear of dishes Mail and newspapers should be out of sight  Take a short walk or drive with your children and pets Let the RealtorŪ and clients view the home without your presence Burn a scented candle to add a pleasant aroma to your home Let the buyer be at ease and let the agents do their job By combining these successful showing strategies with our aggressive marketing plan, we can achieve your goal - a maximum sales price in a reasonable period of time.  Please contact us if there is anything we can do to help you get your home ready to sell. Posted 12/1/08