Homes Still Sell in Down Markets

This is a great article that was sent to me in a newsletter for AmeriSpec, the home inspection company. It makes great sense.



Homes Still Sell in Down Markets

While some homes are languishing on the market, others are selling quickly. A good real estate agent and accurate pricing are two reasons for success, but exceptional home marketing also plays an important role.
A good way to start is by watching the home selling programs on HGTV. These shows will help you to see your own home with more objective eyes. You'll have a better appreciation of what buyers want and how your home could be better marketed to meet those desires.
This is the first step to seeing your home as a product to sell, instead of a place you live and love. With that in mind, take a pad and pencil, get in your car, and drive around the neighborhood to look at other homes. Now, pull up to the curb outside your own home and write down your first impressions. Be sure to include the positive as well as the negative.
Go through the front door and tour the home just like a home shopper would. Jot down notes of things that could be improved and features you need to highlight as you go through. Be sure to open closets and look in attics and basements – potential homebuyers certainly will.
Study your list and prioritize the changes you could make to better market your home. Here's a list of suggestions to get you started:
• Remove anything you love. If there's a beloved ceiling fixture, window treatment, appliance, or other items that shoppers feel should go with the house, replace it before anyone sees it. Once you tell a buyer that item is not part of the deal, the buyer will want it all the more, and the whole sale could fall through.
• Clean, clean, clean: windows inside and out, light fixtures and ceiling fans, even the inside of the refrigerator. Everything should be dust-free and sparkling every day your home is on the market.
• Make it impossible for shoppers to wonder who currently lives in your home. Eliminate family photos, awards, and evidence of a home business. Stowing travel mementos, books, collections, and other items that reflect your personality and special interests, is also a good idea.
• Consider leasing storage space. Use it to store over-sized toys, out-of-season clothes, and other personal items; basically anything you don't have to use while your home is on sale. Diminish your home's furnishings, too. Less furniture makes rooms look bigger.
• Check your curb appeal. Lawns, flowerbeds, shrubs, and trees should all look well-maintained. The door area should be in pristine condition – a non-working doorbell is not a good way to start a home tour.
• Make small repairs. Dripping faucets, cracks and small holes should be repaired. If your home is filled with vibrant paint colors, you might want to repaint in a more neutral shade. After all, a fresh coat of paint is always more appealing.
• Avoid scented air fresheners, candles or other sources of fragrance. Home shoppers are just as likely to wonder what smell you're trying to hide, instead of appreciating the aroma. Even the scent of fresh baked cookies can be suspicious.
If your home is attracting shoppers but getting no offers despite your marketing efforts, you may want to consider hiring a home staging professional; this could be particularly important if you need to move out of your home before it sells. Home staging "sets the stage" so others can see your home as a place they would want to live; it's a small investment that could pay off nicely at closing.