Selling in a Down Market – Part 2

Dec 11th, 2007 @ 12:36 PM by MortgageMentor

Earlier I wrote about selling a house in a down market and the first important factor, price. You can find Part 1 here if you missed it. Today I would like to discuss the second most important factor: the condition of the home.

Experts say that if you want to sell your home when the market is slow, you’ve got to have top-notch real estate for sale. That means you must address four things: Cleanliness, curb appeal, minor repairs, and major repairs.

Cleanliness is easy. Sweep, vacuum, mop, and dust. Throw away every single item that you can possibly part with. Whatever is left needs to be carefully organized. One expert says that it’s okay to have a stack of books, for example, but stack them according to size, with all the spines lined up together. Follow this procedure through every room in your home.

Curb appeal: Let’s face it, if you cannot persuade a buyer to walk into your home you probably aren’t going to make a sale! Make sure you “keep up with the Joneses” by having an exterior that is line with those of neighboring homes. Touch up the paint if needed – and don’t forget the trim. Add fresh mulch, cut the bushes, and keep the lawn pristine for the duration of your listing.

Minor repairs: Fix any small items that need repair, like leaky faucets, door facings or molding, and flooring that has come loose. Paint the walls with fresh paint if at all possible.

Major repairs: Remodeling and upgrading are projects that do not give you 100% return on your investment. Plus, the new owners may not even like the way that you have changed the rooms. So if you are going to do major repair work, stick with the ones that have to do with deterioration of the home. Replacing the roof or the heat pump are positive changes that offer the new homeowner real protection.

In order to rise above the competition, your home must stand out over all the others. But to do that, you don’t have to break the bank. Concentrate on a clean, fresh home that looks inviting. Price it right, and you’re sure to have a winner!