6/1/2006 12:00:00 AM - 10 Ways To Make Your Home More Salable

There is little doubt that the real estate marketplace is now in transition.  Sales volume has begun to weaken and the days of quick sales and multiple offers gone.

The cooling from overheated sales conditions in recent months has brought inventory levels up to the point where buyers have more choices than in the last few years.  As  the market readjusts, price appreciation should return to more normal rates of growth this year.

The catch is that a softer marketplace means sellers will have to fight harder to get top prices and quick sales.  Here are 10 ways to get more out of your property:

1. Go for the junk and get rid of it. A house with less stuff looks bigger and roomier.  Buyers cannot envision their furniture in your home if there it too much “stuff” in there.  If you know you are moving for sure, pack it up and move it to storage or the garage.  Keep out only the bare necessities.  It is best to get a realtor’s opinion on what should be moved out and what should stay.

2. Price below the “curve”.  The days of “testing” the market are over.  The house that does a price reduction first, sells.  The “followers”  keep reducing but do not sell their homes.

3. Use the best realtor you can find.  Experience, connections and reputation can be an edge when marketing a property.

4. Require your realtor to have an aggressive marketing plan that makes sense for you and your property.

5. Have a home equity line of credit in place.  This way you can have funds available if you want to buy a replacement home while the current property is being sold.  Just be aware of the risk.  If your current home does not sell in a reasonable period of time, you could face double mortgage payments.

6. Make sure that everything works. Spot check for leaky faucets / hose-bibs, burnt-out light bulbs, etc.  Expect the buyer to do a home inspection and be prepared to make reasonable repairs if requested.  Remember that it may be better to upgrade an electrical box than to look for a new buyer.

7. Make sure that everything is spotless.  Do extensive and deep cleaning.  Make sure that moldy showers and bathtubs, dirty air filters, carpet and baseboards are all clean.  Paint the interior a neutral color if necessary.  If you have a pool, make sure it is sparkling and in working order.  Make sure your landscaping is trimmed and neat.

8. Find out what buyers thought after a showing.  Don’t take negative comments personally.  Look for ideas that can help you make a better impression with the next prospect.

9. Don’t get upset with small inconveniences.  If a prospect wants to see your home with little or no notice or at an odd hour, don’t worry about it.  It is better to show the property than to have a home which is both undisturbed and unsold.

10. Try to make any offer work.  Most offers these days are low and may seem insulting.  Do not let the deal “die” on your end.  Present the buyer with the best counter offer you can.  Keep in mind that making additional house payments might be worse than taking an offer lower than you expected.  Remember that property values are decreasing, not increasing.

                                         *Some information derived from www.realtytimes.com