RISMEDIA, Nov. 5, 2007-Despite grim news in the New York Times noting the pending home sale index has hit a record low, and it “hasn't hit rock bottom yet”, savvy home sellers have discovered the secret to selling their homes. (New York Times, October 2, 2007).
Here are a few ways strategic thinkers prepare to sell their homes:
– Prelist Home Inspections. These inspections allow sellers to identify and repair problems rather than lose money during the sale. Statistics show that for every $1 of identified repairs, the buyer would ask for double that in a price reduction. Paying $5,000 to repair a roof is far more enticing than losing $10,000 in the sale.
– Neighborhood Environmental Reports. These reports provide important information on known and potential contamination that may exist on or in the vicinity of a property. The seller could use this information to ensure buyers that the home is in an environmentally safe neighborhood.
– An overview of the neighborhood's assets. A list of the neighborhood's assets can help sellers market the area's positive attributes along with those of the home. Nearby schools, parks, community pools or other features can add value for a buyer.
– Minor interior cosmetic enhancements. Upgrading or enhancing elements in a home gives potential buyers the feeling that they can move in and feel comfortable in the home right away. Besides making kitchen and bathroom upgrades and cleaning floors and windows, the entry way should be well lit, clean and uncluttered, as it's the first room a potential buyer evaluates.
– Minor exterior cosmetic enhances, curb appeal. Establish the right first impression by making a home's exterior more appealing. Make certain the lawn is green and mowed. Evaluate any stone walkways to be certain they're even. Plant flowers to add color and vibrancy.