The Key to Selling Your Home

On the market: The key to selling your home: MyFoxBOSTON.com

Winter Home Sales? Can It Be Done?

Winter Home Sales: MyFoxBOSTON.com

Common Impediments to Selling and How to Overcome Them

RISMEDIA, February 1, 2011—

Even with the economy improving overall, it would be false to say the real estate market is booming, especially for home sellers. Unfortunately, negative financial headlines are causing some potential sellers to needlessly hide in fear. For many, it truly is not the ideal time to put their home on the market. But, even in a less-than-robust economy, you might be in the right—perhaps even the ideal—situation to sell. Unfortunately, some common impediments may make you run from doing so. Here are a few of those mental roadblocks, and how to overcome them:

I know my house is too big and expensive to maintain, but it’s filled with good memories. A lot of people, specifically in their 50s and 60s and beyond, are reticent to sell a home, because it’s where they raised their kids. At holiday time, that pull becomes even more powerful, when family comes back to visit. While memories are extremely important, they can keep people in a home that’s too expensive to maintain and too large for them, for too long. And, what’s worse, sometimes young adults pressure their parents to hold onto a home. If you’re one of those folks who’s just left the nest and you suspect that your parents are hanging onto the home just for memory’s sake, a little conversation goes a long way. Let your parent or parents know that you want the best for them, and if that’s a newer, easier-to-maintain home, that’s OK by you. Often, giving a parent gentle encouragement to move on, frees them up to make the decision they know they should make: to sell and downsize.

There’s so much inventory out there. Who’s even going to stop to look at my house?It’s true: in this market, there are a lot of options out there for buyers. But sellers who lament a flurry of potential competition often use this as a bad excuse not to sell. Many real estate professionals these days know a lot about preparing a home for sale, including conducting a home inspection to clearly understand the condition—and value—of your home. Speaking with a real estate professional can give you inspiration and ideas that you never imagined regarding how to distinguish your property. That’s the thing about selling your house: you don’t have to go it alone. In the best case, you can enlist a team full of great ideas.

The housing market’s down. The Federal Reserve recently noted that after losing ground in the spring, Americans’ wealth grew 2.2% throughout July-September, and household net worth rose to nearly $55 trillion. But despite this, the value of real estate holdings sank 3.7%. It’s true, the real estate market truly hasn’t fully recovered, and it would be disingenuous to sugar-coat it and say that you’ll easily get your ideal asking price in a week if you sell. But still, too many people read the second statement above—home prices are down—without taking it in stride with the first: things are improving overall. A lot of us focus on bad news without looking at the good. Home values have not fully rebounded. But the increase in Americans’ wealth means there are more people with cash freed up to buy. Also, these figures don’t take geographical areas into account. Your area might be doing better than the national average; values aren’t depressed in every single market. The best way to know what’s best for you is to ask a trusted real estate professional. Communication is the key to success, rather than hiding when you see a negative headline.

Dan Steward Is president of Pillar To Post Professional Home Inspections.

For more information, visit www.pillartopost.com.

Copyright© 2011 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

Seller Mistakes

Selling a house can be a roller coaster ride for any homeowner, but, with the right preparation, it can be a very rewarding – and profitable - experience.  Here are five common mistakes sellers often make.  Avoid these pitfalls, and you’ll be ahead of the game.

1. Rushing on the price
Take your time when you’re setting the asking price of your home.  This is a crucial step that shouldn’t be rushed.  It’s a tricky thing, and pricing too high is just as dangerous as pricing too low.

The average buyer often looks at more than a dozen homes before making a decision.  That means buyers have the advantage of comparison shopping.  If your house isn’t reasonably priced, you may lose that perfect sale.  Work with your agent to set the very best asking price.

2. Thinking first impressions don’t matter
First impressions count in a big way!  If a seller hasn’t taken time to declutter and clean his house, he or she may lose the sale before a walk-through even begins.

Buyers can’t help but respond to your home emotionally.  If the house is messy or there’s a strange smell coming from behind a closed door, they’ll likely make a quick exit and look for another home.

It may take some elbow grease on your part, but any effort you invest into preparing your home will pay off in the long run.  These quick and simple steps will help you spruce up in no time.

On the outside:

• Cut and edge your grass
• Remove any clutter from your yard
• Trim hedges
• Weed gardens
• Wash steps, windows, railings, doors, etc
• Paint if needed
• Remove unnecessary clutter from garages

On the inside:

• Keep the home clean
• Shampoo carpets
• Clean tubs, toilets and showers and hang fresh towels
• Oil squeaky doors
• Turn on inside and outside lights
• Have soft music playing
• Make sure the house smells good
• Keep pets in separate area
• Open shades and draperies
• Open all doors inside home.

Remember:  When buyers preview your home, they’re more comfortable and will spend more time looking at your home when you’re not around.  This would be a good time to run those errands or walk the dog.

3. Keeping a low profile
It’s a competitive market out there, and this isn’t the time for you – or your real estate agent – to become a shrinking violet.  You want someone who will shout your home’s praises from the rooftops (figuratively, of course)!  Make sure your agent takes full advantage of all the marketing tools he or she can.

The majority of homebuyers start their search on the Internet.

• Is your agent taking advantage of that technology?  
• Does your agent have a website?  
• Can potential buyers easily find your home listed in a search and find feature?  
• Once they do, is it easy to contact your realtor for information?  
• Does your realtor list enough detailed information about your home? 

Buyers are often impatient and won’t take kindly to waiting for a realtor to call back with information.  They want to access facts about your home quickly and easily – or they might move on.

4. Breezing through the contract
Don’t make the mistake of taking the contract lightly.  Protect yourself and go over it with a fine-tooth comb.  It’s important that all of the costs, terms and responsibilities are included.  It is important that if you do not understand all of the contract you are about to sign that you have a real estate professional explain it for you.

Have you disclosed everything about your home?  Share all known defects with your buyer in writing.  It will protect you if she later becomes dissatisfied.

5. Choosing the wrong realtor
This is the time for you, the seller, to shop around.  You’ll spend a lot of time with the real estate agent you choose, so make sure he or she is someone you enjoy being around and can trust.

Ask lots of questions.

• Are your communication styles similar?  
• Do your schedules mesh?  
• Is there an easy way to contact the agent?  
• Is he or she someone others have recommended?  
• Does she know the local area and the housing market?  
• What are the agent’s marketing strategies?

Take your time and find a realtor you enjoy and trust.