SELLING YOUR HOME IN WINTER

Dreary, cold weather and the endof-the-year holidays can keep buyers away and heighten fears of your home staying on the market longer than expected. 

However, there are a few things you can do to enhance “curb appeal.” And when that happens, buyers will take notice. 

For example, if your home has been on the market for several months, it's probably time to change our sales approach. There are several factors that we can review to determine improvements that can be made. We may need to make a reassessment of the sales price, as it may be too high for the current market or, instead, we may opt to create a new or updated marketing plan for your home. Marketing your home goes beyond a few ads in the newspaper and a listing on the Multiple Listing Service (MLS). Ask me about all the ways in which I will market your home. 

When setting the asking price through a comparative marketing analysis, compare similar homes sold in the winter months. Many owners set their asking price too high because of comparisons with sales prices during peak seasons. Always try to compare like properties sold at the same time of year. 

Once you’ve settled on an asking price, it's time to spruce up the interior and exterior of your home. I recommend opening as many curtains as possible to add light and color to rooms. Also, your might try keeping spring and summer pictures of your home out on tables and in clear view. Photos of your front yard flowers or the backyard shade tree in full summer bloom can help swing many buyers in favor of a purchase. 
Staying on top of winter maintenance and chores is another sure-fire way of adding value to your home. A neatly shoveled driveway and cleared walkway can add a nice touch. Make sure the furnace is in good working condition and that the room temperature is kept at a comfortable level. Also, check to see that the basement (if there is a basement) is dry and sealed from any drafts. 

Take yourself on a tour of your home. Start on one end and work your way through the house. More than likely you’ll see many previously undiscovered cluttered spaces and needed repairs that might turn off potential buyers. 

Don’t overload your home with holiday decorations, either. The buyer should have a chance to see you home in its everyday condition.

Soon you discover that moving your family to another city may be one of life’s hardest tasks. The thought of leaving behind old friends and schools for a strange town can be frightening. The biggest challenge of all, however, is to preserve the equity in your housing investment so you will be able to purchase a similar home in the new location. 

Not to worry. Even in these uncertain times homeowners can sell at very satisfactory prices in a reasonable period of time. The secret? Pay attention to details, utilize marketing savvy and price the home to sell quickly. 
The following tips can help you get that “sold” sign up fast. 
The bottom line is that sellers should take the time to make their home as attractive as possible. Compiling helpful tips for the buyer about school districts, utility bills and directions to the nearest shopping mall can go a long way in selling your house quickly. 
With a little work and an active real estate agent, chances are good that your house will sell fast in today’s buyer’s market.

OFFER THE RIGHT PRICE

Start with a price that is reasonable for your neighborhood and the size of your home. Comparing the price of your home with similar nearby listings is an easy way to be sure you are offering the right price. Comparing the opinions of two independent appraisers will also help you avoid over-pricing. 

PAY PART OF THE CLOSING COSTS

…usually 3 to 5 percent of the loan amount. This will attract those first-time buyers who are short on cash for down-payment and closing costs. Offering to turn over personal property such as washing machines and dryers, refrigerators and flower boxes can also attract buyers looking for the best deal.

ACCEPT CONTINGENCY AGREEMENTS

Make your sale contingent upon the sale of the buyer’s home. This takes away buyers’ fears of juggling two properties and mortgages at the same time.

TAKE ADVANTAGE OF THE CORPORATE RELOCATION TRADE

Be sure that your broker is connected to a relocation network – one capable of bringing in buyers from distant places. And, of course, try to get your employer to provide you with relocation assistance, too.

MAKE YOUR HOME STAND OUT

Fresh paint and flowers can go a long way in impressing buyers. Tend to such details as moving the lawn, fixing stubborn doorknobs and sliding doors, and straightening up the basement. Remember, your home’s appearance on the day it’s shown can make or break a sale.

Some choose to build recreation rooms and studies while others add new appliances, fixtures and cabinets to enliven rooms and make their home more attractive to future buyers. 

But, when should you decide to stop sinking money into a home and buy a bigger place? And how much rehab is too much when it comes time to recovering remodeling costs through a home sale? 
For instance, if you’ve just spent $1,000 remodeling your living room and didn’t expand your small bathroom, the chances of increasing the number of interested buyers are slim. 

With these concerns in mind, I can offer a few tips for those struggling to add value to their home. 
First, always protect the character of your home. Nothing sticks out more than a new addition that is in a completely different architectural style. Be consistent. Recognize your home’s character and stay within its framework. 

The most financially rewarding areas to remodel are usually the kitchen and bath. Newly re-done cooking spaces and cabinets can attract more buyers and may command a slightly higher price for the home than a comparable one on the market. Simple repairs that are made to last will bring you the biggest returns upon sale. 

Enlarged bathrooms are the most popular attraction for new homebuyers, according to the National Kitchen and Bath Association. Today, the most popular additions for younger buyers are sunken whirlpool baths and showers. But be sure to install modest, solid amenities. It’s easy to quickly over-spend on bathroom fixtures. 
Buyers are, by convention, more interested in aboveground living space – not basements, yards and walkways. Swimming pools can be a poor investment if installed for the sole purpose of increasing a home’s value; it’s rare that a pool’s cost will be recovered in a home sale. It can also be a negative feature for potential buyers with very young children. 

Replacing worn carpeting, tiles and wood floors can give your home an immediate advantage over similar properties in the area. Updating paint colors in all areas of your home can also prove beneficial. 
However, it’s recommended that you use neutral colors, such as gray, beige and off-white when adding new floor and wall coverings. Fewer buyers will then turn away because of differing tastes. 

Stay simple with your remodeling and look at your home as though you were the buyer. Chances are that if you find the upstairs bedroom could be brightened by a larger window, potential buyers will probably feel the same. 

Don’t go overboard. Concentrate on improving two or three deficiencies in your home. More than likely, the time and money you spend adding quality to your home will be rewarded with greater profit at selling time.