Pricing Your Home in a Fall(en) Market
It's not new news. Real estate markets everywhere have fallen. If you're trying to sell your home, or even thinking about putting your house on the market, pricing the home to sell quickly can be the trickiest part of all.
Our Money Editor, Stacy Johnson, has some advice on pricing your home to sell. This short video runs 1:37…
Trying to sell your home this fall? Thinking of buying a home now? Tell us what you think about the current market. We'd love to hear your comments. Use the "Comment" link below to sound off…
Selling Your House? Try Staging It
Staging a house can be the difference between its sitting or selling. Here are some findings and simple staging tips to help turn lookers into buyers at your next open house.
Studies have shown that staged homes sell quicker - sometimes up to 40% faster - than non-staged homes. Simply stated, staged homes sell faster for more money than those that aren't staged.
Three basic staging rules:
- Entice buyers to enter. If people don't like what they see on the outside, they may not come in. Doors are the one exception to the neutral-color rule. Rich colors say "welcome" and "come inside." Some suggestions: red, black, charcoal and chocolate brown.
- Curb appeal to sell a house. Curb appeal is 360 degrees around a house - and includes the neighbors and the neighborhood. Sellers should focus first on what they can control, especially landscaping outdoor spaces and lighting. Sadly, many sellers skip this obvious step and lose equity - and many prospective buyers - as a direct result.
- Clobber the clutter. Go room by room and purge. Get rid of anything personal.
Hiring a professional home stager has great benefits to any seller. The seller doesn't have to spend every night and weekend trying to get the house ready for people to see. The seller can continue with their normal routine and have one less thing to worry about.
Consider this simple rule of thumb, the investment in staging your home will always be less than the first price reduction on your home if you don't stage it and it just sits on the market.
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Selling a House: Make Your Home Stand Out
In today's market and the increased choices buyers have when shopping for a home, one of the most important factors you need to consider (other than price of course) when getting your home ready to sell is the condition of the home.
Condition reigns supreme over all else. Buyers have so many choices right now that anything that looks like it needs work can be enough to kill your chances of selling. People prefer move-in condition, so if your property isn’t, you probably need to do what it takes to make it that way. It's worth the money to remove old wallpaper, paint, replace carpet, and replace the roof if it’s almost at the end of its life. Offering an allowance doesn’t work in the market we're in now because buyers tend to overinflate the costs of these improvements, anticipating double or triple what it will actually cost you to just go ahead and do it now.
Plus, with the number of homes for sale, if yours is the one that needs to be painted, chances are it’s also the one that won’t sell.
There are exceptions, such as homes that need a complete overhaul, so it’s a good idea to discuss your home and your plans with a real estate agent before getting started.
Have a suggestion for people thinking about selling their home? Leave us a comment by clicking the comment link below. Your email will never be published here to protect you from spam.
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