Selling A Home

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This article was published on: 12/01/2006 2006 Cost vs. Value Making Home Improvements Pay What’s the return for remodeling? Remodeling magazine’s annual report compares construction costs with resale values for 25 common remodeling projects in 60 U.S. markets. Prices for most remodeling projects continue to climb, while the recoup value of improvements at resale is declining to levels last seen in 2002. These are the findings of Remodeling magazine’s 19th annual Cost vs. Value Report — the eighth prepared in cooperation with REALTOR® Magazine. None of this should come as much of a surprise to you: This year’s recoup values confirm the housing slowdown many parts of the country are experiencing.

IS THERE A BEST TIME TO SELL?

In a quandary about when to put your home on the market? You've heard so many conflicting views as to the best time. Is there really one time of the calendar year that is better than others? There are many factors that will affect market activity at a given time, some of which are not predictable. Area differences and economic conditions can also impact the flow of real estate transfers as well. However, there are some consistent factors that occur on a regular basis that you can expect.For instance, the fourth quarter of the year is impacted by several of the major holidays that will put a crimp in normal buyer flow. With two of these important holidays situated only weeks apart, a normal interruption of buyer interest can occur. In addition, since schools are in semester break, most people consider family priorities like vacations and celebrations more important and put housing sales at less of a priority. Those concerned with year-end financial responsibilities and deadlines will also make for waning interest. In addition, the corporate transfer market generally seems to become less active until after the holiday season subsides. Winter snow covers even the most elaborate landscaping, which may mean a potential buyer will have to appreciate that beauty from display photographs instead of the real thing. The first quarter of the year enjoys the return of full market as all attention resumes to a more normal pace. The corporate transfer market can intensify as new goals are implemented for the new year. Locational factors can affect activity due to inclement weather conditions impairing the air and car travel. April brings tax deadlines which in some cases has affected the middle weeks of that month. As the Spring season develops, homes seem to have nicer curb appeal and encourages more "drive-by" traffic. Many leases come due as the rental market turns over, often encouraging first-time home buyers to re-evaluate their housing situations. Real life occurrences still can affect regular flow as three-day weekends take precedence and schools let out for the summer. Graduation time also can lend a blow to the normal activity enjoyed in the late May-June period. Homes generally show their best when the exterior landscaping is in full bloom and top condition, grabbing the attention of that "drive-by" buyer. Third quarter real estate runs fairly uninterrupted but also has summer vacations, the Fourth of July and Labor Day to obstruct full market activity. School start ups show to make the last weeks in August and September slower than the earlier part of the month. It seems between holidays, school, weather, taxes, and family, just when is the best time? No one can predict when the one qualified buyer you need to appreciate your home will be looking in your neighborhood. Of course, some times seem better than others. Economic factors, interest rates, and of course, supply and demand will all play a critically important part as to the strength of the market. Springtime generally shows an increase of properties offered for sale, which gives increased selection to the buyer market. Fall may have less competition, but complications can occur with making moves during the holiday season and the kids final semester in school. The one important factor to remember is: A buyer buys when the right home is offered for the price they are willing to pay at a time they need to buy. Consider your own personal needs and motivations when thinking of selling. Consult your local real estate professional for factors affecting your specific area for the best strategy for your move. (Copyright REEPco, Inc. 1998)

Helpful Tips when Selling your Home

You never get a second chance to make a good first impression- 1. Your lawn is the first thing that prospective buyers see. Fertilize if needed, and always keep your lawn trimmed and edge. During winter, keep snow and ice removed from sidewalks and steps. 2. Your front door welcomes the prospect - So always make sure that it is clean and even painted if needed. A seasonal door decoration adds a warm, inviting touch. 3. Decorating helps assure top dollar - and a quick sale. Faded walls, worn and scratched woodwork reduce appeal. Scratched and dry-looking woodwork, paneling and kitchen cabinets can easily be touched up with any commercial scratch covering product. 4. Clean windows show the bright side of your home - By opening draperies and curtains you highlight your walls and ceilings, letting the prospective buyers see how cheerful your home can be. 5. A clean kitchen is a must - Many buyers judge the housekeeping by the oven and stove. Use your favorite oven cleaner until the oven shines. clean the interior of your dishwasher, removing stains, especially on the door. Clean out your kitchen cabinets and pack away items not needed. Counter tops should be clean and free of clutter. Baking soda is good for removing stains on formica and it will not mar the finish. 6. Sparkling bathrooms help sell your home - so repair caulking in bath tubs and showers. Shower doors, ceramic tile and grouting should be cleaning and free of soap film. Fixtures should be polished and free of water marks. If there’s a window in your bathroom, open it and let the fresh air in. 7. Avoid Cluttered appearances by removing excess furniture and other items that you seldom use. Keep newspapers, toys and other articles picked up. clear stairways and essential. Objects on any stairs are dangerous. 8. Make closets look larger by removing or packing items that can be stored elsewhere. Neat, well-organized closets show that there is ample space. 9. From Top to Bottom display the full value of your basement, garage and other utility space by removing all unnecessary articles. Dark, dull walls are easily brightened with a coat of paint. If the basement or crawl space has a damp smell, place a bag of limestone in the damp area. 10. Check Major Appliances - drain a pail of water form the heater to remove rust particles and change the filter on the furnace. A little oil corrects noisy attic or appliance fans. Be sure to clean the exterior of the water heater, furnace and other appliances that will be seen by prospective buyers. 11. Repairs are Required - if closet doors are off their tracks, door knobs are loose, screen doors don’t close, faucets are dripping or floor or ceiling moulding is cracked. Minor flaws in your house suggest neglect to the prospect. have them fixed so you can get top dollar for your house. 12. Many introductions are distracting - Have as few people as possible in the house when it is shown. This puts the prospective buyer at ease and gives him a chance to absorb clearly the advantages of your property. Most people like dogs but they distract attention. if you have a pet we suggest you keep it out of the way, preferably out of the house. 13. Let your Associate Talk - Be polite but do not strike up a conversation with the prospective buyer. Your associate has already given details on your property and needs all the attention of the buyer to increase his interest. do not get involved in a discussion with the prospective buyer if he objects or remarks about a room or arrangement or some other point about your property. Your associate can more easily overcome the objections. 14. Night Appointments - remember to turn on the porch light and any other outside lights that highlight your property when showing the house after dark. Also keep the house well-lit throughout when the hour of appointment nears. 15. First sell the House - do not try to sell the customer any furniture, rugs or drapes in the house at this time. This complicates the sale and detracts from the interest generated in your house. If a carpet or any of your furnishings are desired by the buyer, let your associate discuss this with you.