The Home Front

10 Steps to Selling Your Home in a Scary Market

By Luke Mullins

Posted: November 13, 2008

In a blog post over at Trulia, Realtor Mark Chesnick offers his advice to homeowners looking to sell in today’s scary real estate market.

From Trulia:

Above everything else, please remember, there is no magic wand to sell your home in a day. It is going to take time, effort and perseverance by you and your Realtor®. The real key question is, how is your house going to stand out compared to all of the others in the same price range and location? Here are 10 steps to help you find a buyer for your home and potentially sell it for the most money possible.

 

•1) First and foremost, make sure your home has curb appeal. That first impression, when a potential buyer pulls up to your home for the first time is huge. I kind of compare it to going on a first date. Does that person you are meeting look clean and groomed? Are they wearing old, torn cloths? Do they smell good? Can you see yourself going on a second date? You get the picture. You never get a second chance of impressing an individual. It has to be the same way with your home. Once you get that look going with the mowed lawn and the trimmed hedges, please keep it that way. All too often, after a month, the seller will get complacent and start slacking off. Remember, first impressions are forever.

2) Next, walk into your home with the eyes of a first time home buyer. What do you see? Is there clutter? Do the rooms look inviting or cramped? Is it easy to move from one room to the next? Are the carpets or floors dirty? Will the colors on the walls accommodate some one else's furniture? How does it smell when you walk in? When it comes to smells, clean always wins over candles and aroma scented sprays. Think clean, bright and welcoming as you go.

•3) Get rid of any toys or personal things that clutter shelves, walls desks and floors. Always keep in the back of your mind as you do this, the people looking at your home want to imagine their stuff there. The more you have of yours, the less likely they will be able to see theirs. It is not a bad idea to rent a storage unit to start this process. Out of sight with these items is always best in the long run. Do this in every room.

•4) Next, strange as it sounds, replace the toilet seats. It does make a difference.

•5) Ok, the house is clean, neat and smelling great. Congrats! Now is the time to go back outside and start looking for things that are broken or missing on the house. Start in the front and move to the back, then work your way through the interior of the house. By doing this, you overcome potential objections from a potential buyer well before they come up in the negotiations. Read the rest of the list here.

Read the rest of the tips here.

Disclosure: U.S. News & World Report has a business partnership with Trulia.

Price

If you can't compete with the price due to foreclosures than you have to make a choice. 1. Wait out the market and do not list your home. or 2. Lower your price to compete with the other

homes on the market. You want to be in the top three in a given price range.

If you have owned your home for around 5 years or have significate equity built up you might want to consider refinancing at a lower interest rate.

Good luck in a challenging time.

Leelanau and Benzie Real Estate.com of MI @ Jan 21, 2009 09:38:04 AM

Appreciation for Building Professionalism - Helping Neighbors

Please accept a kind word of thanks for your article. You took initiative, shared some commonly acceptable viewpoints to help property owners sell their homes. You rightly should be commended. Anyone, as we all know, may be critical of others and their efforts, but mostly the "anyone's" never do anything unless they are critical.

Consideration should now be given by "everyone" to help encourage each other and become a true "neighbor" to those of us who, not by our wisdom or choice, also are given the same gift of life. See, wealth is in the number of friends we make in this life, not in things.

Remember, many have given ultimate sacrifice of their lives for us to enjoy even the simple priviledge to state, in our own words, our thoughts on your original help and marketing in the field of real estate. The now famous quote "Let's Roll" attributed to those who gave their lives when their plane went down in a Pennsylvania field attempting to save themselves and others in this country on September 11, 2001 is still of value to "everyone" and their children today. It exemplified leadership in action. We should act in like manner. Freeddom is up to each of us as individuals and collectively as "One Nation Under God".

Thank you for being a "someone" who acts and is not complacent. Leaders teach others to be leaders also. We need each other. Let's support each other.

Jim Robinson

http://www.advertisingalabama.com

Jim Robinson of AL @ Jan 02, 2009 19:57:40 PM

Where's the price in this article?

I can appreciate all the tips presented here but Price should be at the top of the list. If the home is Over Priced the above tips won't matter too much as there won't be anyone to look at it!

I recommend all my sellers get an appraisal up front and then we list at or just below the appraised price! This way I am not the bearer of Bad News. When was the last time you talked to a seller and they said great-your price is $50k less than what we wanted?

Price,Price,Price...then location and the rest....

Rick Goates of CA @ Jan 02, 2009 17:57:01 PM

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The Home Front

The Home Front

Associate Editor Luke Mullins tracks the treacherous housing market and explains how to unload a five-bedroom McMansion or even find that dream home.

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