Archive for the 'Sellers Advice' Category

Nov 20 2007

Market Analysis

Published by Michael under Sellers Advice

The National Association of Realtors Research Division recently released its annual “Price Analysis for the Louisville Metro Region”.  Although I do not agree with all the report states, I felt obliged to provide this information to the consumers out there that might actually care.

Here are a few snipits from the report:

“Home prices in the Greater Louisville Metro Region never encountered a boom in home prices like other parts of the country, yet prices here have been essentially flat in recent quarters. Home prices are very affordable compared with many other areas. With job gains continuing at a respectable pace, home prices likely will increase, though not at a frenzied pace. A sharp reduction in new home construction will help control the overall inventory situation. Resetting loans and the rising number of foreclosures related to the subprime fallout are clearly negative factors, but the impact will be offset by the fundamentals of the healthy local economy.”

The outlook is positive. Homebuilders having drastically cut production will help minimize prolonged oversupply conditions. Further production cuts by builders, which is encouraged, will help the market to more quickly return to a healthy state. On the demand side, job gains have added to the number of potential homebuyers. Historical relationships imply roughly one additional homeowner for every two additional new jobs. Since the peak of the housing market two years ago, the local market added 13,800 net new jobs. A rise in home sales and a strengthening in home prices appear immiment.”

For a copy of the entire report please click on the following link:

http://www.louisvillerealtors.com/pdf/louisville-price-analysis.pdf

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Aug 30 2007

20 Things to Consider When Listing Your Home

Published by Michael under Sellers Advice

As a homeowner, you can play an important part in the timely sale of your property. When you take the following steps, you will help REALTORS like myself sell your home faster and at the best possible price.

 

1.      Make the Most of that First Impression – A well manicured lawn, neatly trimmed shrubs and a clutter-free porch welcome prospects. So does a freshly painted – or at least freshly scrubbed – front door. If it’s autumn, rake the leaves. If it’s winter, shovel the walkways. The fewer obstacles between prospects and the true appeal of your home, the better.

 

2.      Invest a Few Hours for Future Dividends – Here’s your chance to clean up in real estate. Clean up in the living room, the bathroom, the kitchen. If your woodwork is scuffed or the paint is fading, consider some minor redecoration. Fresh wallpaper adds charm and value to your property. Prospects would rather see how great your home really looks than hear how great it could look, “with a little work.”

 

3.      Check Faucets and Bulbs – Dripping water rattles the nerves, discolors sinks and suggests faulty or worn-out plumbing. Burned out bulbs leave prospects in the dark. Don’t let little problems detract from what’s right with your home.

 

4.      Don’t Shut Out a Sale – If cabinets or closet doors stick in your home, you can be sure they will stick in the prospect’s mind. Don’t try to explain away sticky situations when you can easily plane them away. A little effort on your part can smooth the way toward a closing.

 

5.      Think Safety – Homeowners learn to live with all kinds of self-set booby traps: rollerskates on the stairs, festooned extension cords, slippery throw rugs and low hanging overhead lights. Make your residence a non perilous as possible for uninitiated visitors.

 

6.      Make Room for Space – Remember, potential buyers are looking for more that just comfortable living space. They’re looking for storage space, too. Make sure your attic and basement are clean and free of unnecessary items.

 

7.      Consider Your Closets – The better organized a closet, the larger it appears. Now’s the time to box up those unwanted clothes and donate then to charity

 

8.      Make Your Bathrooms Sparkle – Bathrooms sell homes, so let them shine. Check and repair damaged or unsightly caulking in the tubs and showers. For added allure, display your best towels, mats and shower curtains.

 

9.      Create Dream Bedrooms – Wake up prospects to the cozy comforts of your bedrooms. For a spacious look, get rid of excess furniture. Colorful bedspreads and fresh curtains are a must.

 

10.  Open up in the Daytime – Let the sun shine in! Pull back your curtains and drapes so prospects can see how bright and cheery your home is.

 

11.  Lighten up at Night – Turn on the excitement by turning on all your lights – both inside and outside – when showing your home in the evening. Lights add color and warmth, and make prospects feel welcome.

 

12.  Avoid Crowd Scenes – Potential buyers often feel like intruders when they enter a home filled with people. Rather than giving your house the attention it deserves, they’re likely to hurry through. Keep the company present to a minimum.

 

13.  Watch Your Pets – Dogs and cats are great companions, but not when you’re showing your home. Pets have a talent for getting underfoot. So do everybody a favor: Keep Kitty and Spot outside or at least out of the way.

 

14.  Think Volume – Rock-and-roll will never die. But it might kill a real estate transaction. When it’s time to show your home, it’s time to turn down the stereo or TV.

 

15.  Relax – Be friendly, but don’t try to force conversation. Prospects want to view your home with a minimum of distraction.

 

16.  Don’t Apologize – No matter how humble your abode, never apologize for its shortcomings. If a prospect volunteers a derogatory comment about your home’s appearance, let your experienced REALTOR handle the situation.

 

17.  Keep a Low Profile – Nobody knows your home as well as you do. But REALTORS know buyers – what they need and what they want. Your REALTOR will have an easier time articulating the virtues of your home if you stay in the background.

 

18.  Don’t Turn Your Home into a Second Hand Store – When Prospects come to view your home, don’t distract them with offers to sell those furnishings you no longer need. You may lose the biggest sale of all.

 

19.  Defer to Experience – When prospects want to talk price, terms or other real estate matters, let them speak to an expert – your REALTOR.

 

20.  Help Your Agent – Your REALTOR will have an easier time selling your home if showings are scheduled through this office. You’ll appreciate the results!

 

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