Selling a House 101

[Kutless]

Yeah.....I wish I were the teacher here. I am but a mere student.

Only owned one home....the one I'm in. I'm not for sure where to begin.

I have considered some sort of evaluation from a professional to tell us the appropriate renovations to enhance the selling experience.

Maybe I should contact Extreme Home Makover!

Any advice?

[RandyWayne]

HGTV recently aired some shows about this very thing (of course they are ALWAYS airing shows about this).
http://www.hgtv.com/hgtv/shows_hdts

But from our very, and still on going, experience as buyers we can tell you what is important to us while we looked.
1) Move in ready! So many SAY that want a fixer-upper, but the majority still want to be able to move right in. Make sure everything, or nearly everything works.
2) Keep it CLEAN and clutter-free! Quite a few homes we looked at were unbelievably messy. Keep things simple, clean, and most importantly, have it professionally staged!
3) And finally, keep the asking price reasonable. It is far far better to start lower then to start high, and have to lower your price later. Nearly everyone who first looks will NOT come back once a price is reduced.

[Kutless]

Originally Posted by RandyWayne

HGTV recently aired some shows about this very thing (of course they are ALWAYS airing shows about this).
http://www.hgtv.com/hgtv/shows_hdts

But from our very, and still on going, experience as buyers we can tell you what is important to us while we looked.
1) Move in ready! So many SAY that want a fixer-upper, but the majority still want to be able to move right in. Make sure everything, or nearly everything works.
2) Keep it CLEAN and clutter-free! Quite a few homes we looked at were unbelievably messy. Keep things simple, clean, and most importantly, have it professionally staged!
3) And finally, keep the asking price reasonable. It is far far better to start lower then to start high, and have to lower your price later. Nearly everyone who first looks will NOT come back once a price is reduced.

Grfeat advice RW...and thanks for the link.

Totally ignorant question here but would a realtor come in and give advice on the "ready to move in" status. I mean I can name a few things that even from an inexperienced strandpoint needs to be done but outside of that I'm lost

[RandyWayne]

A good Realtor, especially if they are the ones your listing with, will do just that.

An experienced Realtor should be able to tell you any changes/improvements needed to make your home sell for the highest price possible. You can always have a home inspection done prior to placing the home on the market and make any necessary repairs required. Offering a home warranty is also an option if your home is at the age where heating/cooling, hot water heater, etc are getting to the end of their lifespan.

A CMA (comparative market analysis) is also offered free of charge from any Realtor. This report gives you the average sales price in your area, average number of days on the market and the current competition on the market. You want to make sure that your home is priced right as you will get the most showings the first 30 days on the market. If a home sits on the market too long buyers assume that there is something wrong with the home.

These are just a few options and not all of them may be required to sell your home. I am a Realtor and will be happy to answer any questions I can. If you PM me I can even send you a list of interview questions to ask before you hire a Realtor to work for you. It is important that you find someone familiar with your market and that has a good, solid marketing plan for selling your home.

[Ron]

Due your Due Diligence--research your Realtor!

[LaVonne]

Originally Posted by RandyWayne

HGTV recently aired some shows about this very thing (of course they are ALWAYS airing shows about this).
http://www.hgtv.com/hgtv/shows_hdts

But from our very, and still on going, experience as buyers we can tell you what is important to us while we looked.
1) Move in ready! So many SAY that want a fixer-upper, but the majority still want to be able to move right in. Make sure everything, or nearly everything works.
2) Keep it CLEAN and clutter-free! Quite a few homes we looked at were unbelievably messy. Keep things simple, clean, and most importantly, have it professionally staged!
3) And finally, keep the asking price reasonable. It is far far better to start lower then to start high, and have to lower your price later. Nearly everyone who first looks will NOT come back once a price is reduced.

Very good points here...only I don't think it's extremely important to have it professionally staged. We have sold 4 homes and have never had this done and have done very well on all our homes except this last one (only because we HAD to move and quick, plus the market stinks).

Get comps on your house of nearby homes that are similar in square footage, number of bedrooms, bathrooms, lot size, etc... By doing this, it will allow you to see what others have sold their homes for and will help you in finding just the right selling price.

Fresh paint can really help, it's cheap and can make a HUGE difference...neutral colors are best.

Keep it extremely clean...while this can be hard over a period of time, your hard work will pay off.

Clean up the yard. Not sure where you live, but here are a few things we've done in the past. Fresh bark dust/mulch, keep lawn mowed and fertilized. Keep flower beds weed free. Make sure the entry is inviting...have a pretty pot of flowers by the front door, make sure the front door is clean, maybe even apply fresh paint. A nice entry mat add's a nice touch. Also, if your entry has a deck, pressure wash it and apply fresh stain. If it's concrete, pressure wash all the stains and dirt off.

Selling a home is a HUGE job...I sure hope you really need to move right now...in most areas of the US, this is not a good time to sell. I have family in Real Estate...it's a buyers market. My Aunt is telling her people who have listed with her, to cut their losses if they want to sell, it may get worse.

Good Luck!

[LaVonne]

Originally Posted by Kutless

Grfeat advice RW...and thanks for the link.

Totally ignorant question here but would a realtor come in and give advice on the "ready to move in" status. I mean I can name a few things that even from an inexperienced strandpoint needs to be done but outside of that I'm lost

Most realtor's work with in a "group" and they often will have that entire group come through your home. When they do this they let you know what repairs or updates or cleaning that needs to be done. One time when we had this done, we were told to pressure wash the gutters, something we had not thought of...it's amazing what the little things you do really do help.

[RandyWayne]

Originally Posted by CareyM

Most realtor's work with in a "group" and they often will have that entire group come through your home. When they do this they let you know what repairs or updates or cleaning that needs to be done. One time when we had this done, we were told to pressure wash the gutters, something we had not thought of...it's amazing what the little things you do really do help.

Little details like this (that you may not have thought about before) are really key. Buyers WILL see these things and tend to assume that "if they took care of the small things, then surely there will be fewer BIG things to worry about!".
In our home search it was amazing how many people did not take care of the "small things", or big for that matter. And in this type of market you MUST do stuff to stand out in the crowd.
The other advice about looking at the comps in the neighborhood is good. Hearing others, the thing to do seems to start out by getting the comparables and THEN pricing your home 1-1.5 percent under.

[LaVonne]

Originally Posted by RandyWayne

Little details like this (that you may not have thought about before) are really key. Buyers WILL see these things and tend to assume that "if they took care of the small things, then surely there will be fewer BIG things to worry about!".
In our home search it was amazing how many people did not take care of the "small things", or big for that matter. And in this type of market you MUST do stuff to stand out in the crowd.
The other advice about looking at the comps in the neighborhood is good. Hearing others, the thing to do seems to start out by getting the comparables and THEN pricing your home 1-1.5 percent under.

Agreed!