Value is NOT based on need!

Okay, Mr. and Mrs. Seller, this part is for you.

I know, you NEED to sell your house for enough to pay off your mortgage, pay all your closing costs, replace the carpet and the roof, and have several thousand dollars to make a down payment on your next house. Just because you NEED it, doesn’t make it possible. When you bought your house, you shopped around for the house that fit your needs and was the best value.

Guess what? Buyers still do it that way today. Why do you believe they will pay more for it than the similar and comparable property that is less money? News flash: they won’t! Would you? Go ahead, beg your realtor to list it at a higher price than the market analysis you asked him/her to do. Then call your realtor regularly to see why it isn’t getting shown or it’s getting shown but all the buyers have purchased a different house. No amount of marketing will sell an overpriced home. Now, that’s profound…….and very true! —-OR—- pay attention to the advice of the professional with whom you have decided to list your house for sale. If you believe they don’t know the market or what it takes to make it happen, interview another realtor. Look for someone who is honest enough and cares about getting your property sold, not just getting a listing. Cares enough to tell you the truth; that your house has an offensive odor, is too cluttered or crowded, or the carpet is a turn-off. Ask questions, get statistics; don’t get greedy. Form an alliance with your realtor and make a decision to sell or stay.

Buying Up in a Down Market

So you want to – or need to – sell your home in a down market. You are probably concerned that –

• Your home won’t sell at all.
• You’ll end up getting much less than it’s worth.
• You might miss many other less-than-market-price houses while waiting for your property to sell.

I hear people say, all the time, they need a bigger house but they are going to “stay put” until the market values go up again; then they will sell their house so they can net more and have more to put down on the bigger and more expensive house.  Let’s think about this plan.  I’m located in the Tulsa, Oklahoma area, and in the last year we have seen a decrease of about 2% of market values.  So, for the sake of my market area, that is the figure I will use.  I have kids and grandkids and we like to play pretend so let’s pretend I have a house that is valued at about $100,000.  Well, that’s easy.  2% of $100,000 is $2,000.  So, hypothetically I would realize $98,000.  Okay, let’s say I’m going to purchase a house that is valued at $175,000 (2% of $175,000 is $3,500) which means I would purchase the house at a reduced price of $171,500.  In a down market, I sold my house at a fair price, I purchased the house I wanted or needed and I did it at a gain of $1,500 over what I would have done in an up market.  This is, of course, just a hypothetical scenario but you get the idea.  So, just do it!  Call your Realtor, get your house ready, staged and go!

You Can’t Sell IT if You Can’t See IT

Preparing Your House to Sell – Final Tips

The largest investment of our lives is our home and by reading these blogs you are helping to protect and preserve your investment.  As a Realtor and a homeowner for many, many years, I understand the importance of maximizing your ability to sell at the highest price possible.  If you have followed my advice in these blogs and put in the time, I imagine you are pretty impressed with the results.  These final tips will finish your preparation and you will be ready for a sign in your yard while you sit back with a cup of coffee and enjoy the quick results.

Curb appeal is important.  Has your landscaping overgrown the house?  Remember “you can’t sell it if you can’t see it!”  Cut back all shrubs to window height that block light or view from windows. (If you are afraid they won’t bloom next year, remember you won’t be there, so don’t worry!)  Kidding aside, seldom will trimming shrubs keep them from budding or blooming next year.

1. Move all children’s toys to one are of the back yard.
2. Clean and sweep paved driveways.
3. Rake, weed or re-gravel driveways which are not concrete.
4. In the backyard – remove any extra items from the yard, such as tools, piles of lumber, auto parts, etc.

Remember many blogs ago, the story I told about my listings that wouldn’t sell until they were staged?  I have been using these tips now for years with exceptional success.  I am a Realtor and I am available to help.  You may reach me at 918-798-7271.

“The Way You Live in Your Home and the Way We Sell Your Home are Two Different Things!”

Sprucing Up the Exterior

Preparing Your House to Sell – Tips #12

 In this age of internet listings and virtual tours, buyers will usually go through the process of elimination on line first, then the process of elimination through drive – bys.  The first impression when a buyer drives up to a home is critical.  Walk across the street from the property and think like a buyer.  What do you see?

Take a hard look at the front door and trim.  Give special attention to this because this is where buyers will get their first opportunity to make a close inspection of your home.  Does it need repainting or staining?  Repainting doors and trim will help make the house look crisp and in good condition.  This is one of the least expensive things you can do to dress up a home.  Regarding colors:  if it goes on an Easter egg, it doesn’t go on your house.  Drive through some new construction neighborhoods to get some ideas of what is popular at this time.

Sweep all decks, walks, porches and patios and keep them swept.  Remove any moss from all decks, walks and patios.  Decks should be pressure washed and stained or painted if they are in need of it.  Reduce clutter on decks, porches and patios so that they look bigger. Get rid of old flowerpots, barbeques, charcoal, planters, toys, construction materials and excess furniture.  If you have outdoor furniture create one simple “room setting” of clean furniture that will remind buyers of the usefulness of the space.

Clean all debris and moss from roof and gutters.  If you know you need a new roof, address it now because it will definitely come up later.

Repair broken fences and paint if necessary.

Plants are like children – they grow up so fast!  First they are little and cute, then they seem just right and all of a sudden they’re so big we hardly know how to take care of them!  You can’t trim the kids, but you can trim your plants.  If they need it, do it now.

Rake and weed flower beds.  If possible spread new mulch to put a finishing touch on the landscape.  Remove, and if needed replace all dead plants.  Mow lawn and keep it mowed on a weekly basis during the growing season.  Trim branches around roofline to prevent animals, insects, and foliage from getting on roof.

The final blog for the exterior of “Preparing Your House to Sell” is coming up so hang in there.

Next on the List…Bathrooms!

Preparing Your House to Sell – Tips #9 

I’m glad you are back and by now you may be considering not selling since your house is really looking and smelling fine by now.  Either way, you will enjoy and be thankful that you are doing these things now.

Bathrooms – Clear off counters.  Reduce toiletries down to a decorative few (3-6) and consolidate them on a tray or decorative basket.  Put everything else in drawers or cabinets.

Replace that ugly dirty hand soap with a neat bottle of liquid soap.  Coordinate all towels with one or two colors.  Fold in thirds and hang neatly everyday.  New towels can be purchased very inexpensively if the ones you have don’t match or look worn.  Clear everything out of the shower and tub except for one soap and one shampoo.

Clean or replace the shower curtain.  Keep shower curtains drawn at all times. 

One common problem in a lot of bathrooms is cracking or peeling just above the top of the shower tile or tub enclosure where it meets the dry wall or ceiling.  Repair using caulking and paint or install wood trim coated in polyurethane.  Get rid of mold and stains throughout bathroom, especially in the shower and bathtub area.  Most tubs and showers need a fresh new bead of silicone caulking around the edges to make them look neat and clean.

Take all cloth toilet lid covers and water closet cover off.  Keep toilet lids down everyday but make sure the inside of the toilet is sparkling clean.  Hide all cleaning supplies and garbage under sink or out of the line of sight.

Scatter rugs in front of sink and toilet and shower make the room look small.   Use one larger rug in the middle of the room or none at all.  I am a fan of a little décor on the vanity counter in the bathrooms, especially in the master if there is room.  A vase with some fresh flowers, fresh towels, a nice candle, or even a small picture and some greenery is a nice touch.  Not too much, just a little touch for interest.

I haven’t gotten to closets yet so it’s definitely coming up.  Closets are extremely important.  If I’ve heard it once –  well you know….”not much storage”.  If you are busting at the seams, buyers will feel they will be, too.  It’s not as bad as you think.  Tune in to my next blog on closets, basements and other tips on “Preparing Your House to Sell”.

The Goal…Pending…Sold…CLOSED!!

Getting Your House Ready to Sell – Tips #8

I know, you are thinking, “This is ridiculous – too much to do just to get ready to sell.  I’ve seen lots of houses on the market that didn’t have all this stuff done to it”.  Well, I say, “They are on the market”.  Your goal is not to be on the market but to be pending – SOLD – Closed!  Remember back when I talked about selling in the least amount of time for the most amount of money.  Keep up with me here.  Just a little more to go.

Master Bedroom – Make the bed every single day without fail.  Invest in a new bedspread if necessary or a “bed-in-a-bag”.  Nothing too busy as busy beds/fabrics don’t photograph well.

Clear off bedside tables and chest of drawers except for a very few necessary items (remember living room coffee and end tables).  Store extra books and magazines underneath the bed.  Keep closet door closed.  If you have a walk-in closet keep the floor clean and free of laundry and clutter.  If you have a clock radio, keep it playing soft music during showings.  Reduce the number of photos on tables and chest of drawers to a minimum.  Master bedrooms and bathrooms are at the top of the list of importance so de-personalize and unclutter.

Remove plastic runners on carpet or hardwood floors in hallways.

Follow the master bedroom guidelines for all other bedrooms.  In children’s rooms take down all the posters except for one favorite (non-offensive) over the bed; repair nail holes and paint walls.  Many times children’s rooms are painted shocking colors.  If it’s shocking, it’s not a good idea.  Paint that room a color that flows with the rest of the house color.

In the laundry room, put all soaps and cleaners in a cupboard or reduce the number and organize them neatly on one shelf.  Are you kidding-stage the laundry room?  Yes, if it’s a mess and crowded for you, buyers will believe it will be for them, too.  Just like the kitchen, keep counters and sinks clean and empty.  Get rid of excess hangers and hanging laundry.  If you have a drying area, replace all those miscellaneous hangers with one style of white plastic hangers.

Make sure that light bulbs are working and have adequate wattage.  Many laundry rooms are too dark and need to be brighter.

It looks like a lot in print but this is a half a day project for the rooms in this blog so get started and you will still have time for a nice lunch with a friend or loved one.  Do not dismay, it is about time to reap the benefits of your labor of love.  Okay, labor of necessity.  I will talk about everyone’s favorite – bathrooms next.  Stick with me here for more tips on “Getting Your House Ready to Sell”.

Getting Your House Ready to Sell

Tips #6

Don’t give up now; you are just getting to the fun stuff by now.

Don’t be afraid to move furniture from room to room.  That extra chair from the living room or dining room may just look great in the master bedroom.  In general, pack up the little things.  Little things create clutter and they will need to be packed up anyway, so pack them up now.  If you go into model homes that are newly constructed you will see that they are usually sparingly decorated.  In a resale home you need to create space for buyers to mentally move into the room by reducing clutter and the overall number of items.  Clear off all coffee tables and end tables to just 2 or 3 nice magazines and one nice vase, lamp or a statue. 

Clear off the dining room table except for one nice centerpiece. Remove tablecloth from table unless the table is in bad shape and needs to be covered.  Remove from the table to make the room look bigger.       Remove extra dining chairs if they crowd the table or fill up the corners of the room.  Two to four chairs are usually plenty unless it’s a very large formal room.  It will make the room look bigger and you can put the extra chairs in the garage or a storage unit.  See the living room section above concerning removing or reducing the number of items, valuable items and collections.  It all applies here too, especially in a buffet.

In my next blog tips for getting your house ready to sell, we will work on the kitchen which is big.  By big, I mean really important.  Entry, den/greatroom, kitchen, master suite all rate up at the top of the chart in importance.  Oh, I didn’t mention curb appeal but we are definitely going to get to that.  Stay tuned!

Getting Your House Ready to Sell

Tips #4

Remember in my last blog, I mentioned that all of these tips will not apply to you.  It is important that homeowners look at every suggestion with objective eyes.  The pay-off is worth the extra attention.

Wood-burning fireplaces need to be cleaned out.  Glass doors should be cleaned.  Mantels and hearths need to be cleared off except for a very few decorative items.  If it is off-season, stage your fireplace with two or three logs after it is cleaned out.  Of course, if you have a gas log fireplace, it likely doesn’t need to be cleaned but check the screen or doors and dust as needed.

To create more space you may want to remove a chair, loveseat or other pieces of furniture. (Remember the model home!)  Did we talk about renting a storage unit?  Most people find it necessary.     

Pack up all collections.  (You’re going to need to pack them up sooner or later anyway).  They become a distraction for buyers from the desired focal point….your house.   Reduce the number of books on bookshelves.  Pack up extra books early! 

Reduce the number of family photos on the shelves, pianos, and tables and even walls.  Eliminate the “wall of fame” (family photos) usually in the hall.  Reduce the number of wall hangings photos and paintings in every room to one large piece on a wall or a small group of three.  Make sure they are hung at eye level for the average person – not eye level for Michael Jordan. 

Okay, if you have been following all the tips from the beginning, you may be feeling a little overwhelmed but take a deep breath and don’t panic.  If you have done it all to this point, you should be feeling pretty good about your progress and you should be enjoying the changes.  Keep up the good work.  Look for more tips on my next blog for, “Getting your home ready to sell”.

Getting Your Home Ready to Sell

Tip #2

In every room, stand in the doorway and look at the room through the eyes of a buyer.  What do you see?  Ask, “What can I live without while my house is on the market?” Most carpets need to be cleaned if not replaced.  Have them professionally cleaned before putting your home on the market. “Buyers only know what they see, not what it’s going to be”! Unless the home is a “fixer,” badly worn or very out-of-date carpets should be replaced before coming on the market.  Offering a buyer a credit to pick their own new carpet or discounting the price is far less effective and will always end up costing the seller more money and slow the selling process.  Pick a light colored short plush, or frieze carpet. Real estate beige is the safest color.

Check all lights.  Are they working properly?  Replace all burned out light bulbs.  Look for dark hallways and corners and increase the wattage of bulbs in those areas. Fluorescent light bulbs are extremely inexpensive to use so replace the light bulbs in those lamps with soft fluorescent bulbs and leave them on while you are away.  Make sure there are lamps in dark corners that are turned on for all showings.  It is important to remember that buyers buy on emotion and with a few inexpensive adjustments and some work on your part your property can out-shine the competition.  With a surplus of inventory, the pretty ones will sell at a higher price in the least amount of time.  Watch my future blogs for additional tips on “Getting your home ready to sell”.

The Pretty Ones Sell

When you get ready to place a home on the market for sale it becomes a product, and just like any product on the shelves at your local store it has features and benefits, pluses and minuses, and there are other products with which to compete.  To gain an edge in your marketplace you must be priced right and look better than the competition.  Sometimes it’s difficult to think of a home as a mere product, but it helps to think that way in order to get top dollar for the home and sell it in a reasonable amount of time.

When you sell your home you’re going to have to move.  When you move you’re going to have to pack.  Most of the principles of Staging just mean that you’re just going to have to pack up some of your things earlier.  It’s a little bit of work, but you’re going to have to do it anyway, so let’s do it now so you can get top dollar for your home in your marketplace.

A couple of years ago when we sold our personal home, something every Realtor should do occasionally just to feel the pain, I was elated when we got a contract in three days with a little over two week closing.  Thankfully, we had already packed up much of our accumulated “treasures”  – a result of living in the same house for fifteen years.  Watch my blogs for more tips on “Getting your home ready to sell”.