HOMECHECK The  Home for Home Improvements

     The phrase "buyer's market" is used a lot in the news today.  Frankly, it is one.  The interest rates are encouraging, although not the lowest for 30 year loans, they are still low and make it a good time to buy.  Also, there is quite a choice for buyers to choose from on the market.  This only increases as we get into spring and summer.  So how do you get your home for sale to stand out from the crowd?

• Set a realistic sale price.  First, know the appraisal value of your home.  If you don't, hire an appraiser.  You need to know what the bank thinks your home is worth. Setting your price too high can break a sale at closing.  Next, take a good look at the market around you.  Compare yourself with like homes; homes that are the same age, similar square footage, comparable yards, and in similar neighborhoods.  Then see which of these homes have been selling and which have been sitting.  Consider how long you want to be on the market.   Depending on your location, even a well priced home may take 60-90 days or longer in a buyer's market.  Make sure to concentrate on here and now, do not get stuck looking at what your home might have sold for last summer or fall.  Facing the reality of how much your home is worth on the current market will help you avoid reducing your price or offering incentives you would rather avoid.
• Know your competition.  As stated above, make sure to compare yourself to like homes.  Also, check to see what, if any, incentives comparable homes are offering.  Tour some of the homes.  Get an idea of what updates have been done.  Take a look at how comparable homes are being staged or what they are lacking in their staging.  Sometimes using a critical eye on homes you are not attached to can help you discover what potential buyers may be seeing in your home.
• Get an experienced realtor.  Find a realtor who has been selling homes for a while.  Especially with the recent fall in home sales for most of the nation, you want to make sure you get a realtor who will avoid knee jerk reactions to a market they haven't experienced before.  A realtor who is familiar with your neighborhood and knows what buyers are looking for can help you prepare the house for sale.
• Stage your home for showing.  Set your home up as a model home.  Go to an open house at a new development or home and garden show in your area.  Notice how there are tasteful decorations that offer the aesthetics without the personality?  Take down family pictures, collectables, anything that tells about your personality.  You are moving anyway, so get these items boxed up now.  You want buyers to walk through your home seeing the home as one they can picture themselves in.  You don't want the buyers to walk away thinking, "Wow, they really like Elvis!"
• Ramp up the curb appeal.  Make sure to keep the yard and front walkway pristine.  This is the first impression before a potential buyer walks in or even picks up that flyer.  Your backyard should be cleaned up as well.  Sometimes people forget that the outside of the home can say a lot about the owner.  If you have a neglected yard, buyers may wonder if you are neglecting other problems inside your home as well.
• Fix or update problem areas now.  The last thing you want is to get an offer and then have something come up in a home inspection that can break the deal!  If you aren't sure, it is not uncommon for buyers to have their home inspected before placing it on the market.  Unless you are pricing your home below value as a fixer-upper, then you need to get any repairs done before going to market.  Be realistic, although a new kitchen may add to your home, most likely the cost of remodeling will not be recuperated in your selling price.  Instead concentrate on items that either have to be done or you can do easily and at little cost to yourself.
• Offer incentives for buyers.  Incentives can vary in scope.  Perhaps the carpets are old but you don't want to get them replaced; you can offer a carpeting/flooring allowance.  Perhaps you want to drive the buyers to close by offering to pay closing costs.  You can pay for other buyer costs such as homeowners insurance, home appraisal or home inspection.  In the case of a condo, you can offer to pay the first 6 or x months of homeowner dues.  Another incentive that might help is being flexible on your move in date. 
• Respond to offers and questions quickly.  Don't let potential buyers sit wondering what happened to their offer.  Get back to any offers or questions about the home as quickly as you can.  This will include the help of your realtor as buyers will contact them first.  Make sure your realtor is a good communicator and will respond quickly!