Many economists and pundits feel that the housing market is finally beginning to bottom and that bottom and subsequent bounce could be sped up if Congress passes a rumored bill that will extend the first time buyer credit till the end of 2009 and possibly make it available to all buyers.
If this happens I think it would be a great opportunity for people who want to move up to a bigger home. The trouble is that most people need to sell their home before they buy a new one. Someone who puts their home on the market in the next 12 months will likely have quite a bit of competition and the best way to stand out from the crowd is to start making smart updates now so that your home is ready to go when it is time to sell.
Here are a few basic trends that I have noticed in my market that I am sure with a few exceptions help sell a home more quickly in any market.
• Rule # 1 Get Rid of Wall Paper. While wall paper might work with your current décor it is almost always a turn off to buyers and in a competitive market such as this people do not like the idea of having to get rid of wall paper and risk damaging drywall and the mess that goes with repairing it. If you have wall paper in your home please get rid of it before putting your house on the market and replace it with a neutral paint color that is likely to not be noticed by the buyer.
• Rule # 2 Get Rid of Carpet. With the exception of the bedroom most people today do not want carpet in their home. I know in my market homes with new or refinished Hardwood floors sell much more quickly than homes with carpet even if the seller is offering an allowance. Buyers today just want to move in. When selecting a hardwood floor it does not have to be the most expensive offered it just needs to be neutral (unless you are dealing with a home over $300,000 in the Hickory real estate market). If you do some digging you will be surprised at what you can find for less than $3.00 per square foot. Laminate floors can be an option, as well in some situations but there are a lot of people who do not like the look and feel of laminate even though it is often a more durable product. Remember you are doing this to sell the home and not for your personal taste.
• Rule # 3 Update the Kitchen. If your kitchen has a good layout and the countertops are in good condition the best way to give it a quick makeover is to change out the appliances. Many retailers are offering stainless steel appliance packages for a pretty good deal right now. If you have mismatched appliances either donate them or sell them. This will be some of the best money you spend in your home since everyone views stainless appliances as an upgrade. If your kitchen is a little rougher you may need to do a few more things to make it work like possibly paint the cabinets and replace outdated hardware and or replace the counter tops with a shiny new neutral countertop.
• Rule #4 Spruce Up Your Bathroom. Assuming that your bathroom is functional the easiest fix to do in there (once you get rid of that wall paper) is to replace cabinet hardware, towel bars light fixtures etc. Just get a consistent look going in there. It is amazing how much of a difference this can make especially if you team that with a nice fabric shower curtain that matches your towel scheme.
• Rule#5 No Bold Colors. This is not the time to show off your hip style and paint your dining room plum. Not that I have anything against plum as a color I just know that you are cutting out a good portion of buyers that will be able to see their stuff in that room. Stick to the neutrals like off white, tan and shades of cream which do a good job of making your place seem like a blank canvas that people can see their stuff. Check with your local paint supplier to see what colors builders are using in their homes.
• Rule #6 Pick a Good Contractor. If you are not able to do the work yourself make sure you pick a reputable contractor. In Hickory we are lucky to have a local home builders association that is stocked with great contractors, builders and suppliers. They also have a separate re-modelers council to help with the various stages of remodeling a home, as well as a Green Council which is focused on providing service to and educating consumers about energy efficiency and reducing our carbon footprint. In Hickory, go to http://www.hickoryhba.com/ to find more information and nationally you can go to http://www.nahb.org/.
• Rule #7 Consider a Pre-Listing Home Inspection. One of the best ways to rule out surprises when you have your home on the market is to have a pre- listing home inspection. They will go through your home before you put it on the market so that you know exactly what a buyer is likely to find when doing their inspection. The best part is it allows you to fix things ahead of time giving you peace of mind that the transaction will not get held up by issues found in an inspection.
• Rule #8 Meet with a REALTOR® early in the process: Make sure you begin choosing your REALTOR® early in the process so that they can help you make the decisions needed to get your house ready to sell. Make sure you choose someone that will be able to market your home properly in today's market which is very heavy on technology and use of the internet.
Please understand that it is okay to put your house on the market when you need or want to. BUT, make sure it is ready for sale - if you want it to sell fast. It is important that your house stands out as the best against your competition. Make sure you keep it simple - you are not trying to decorate your house for your taste - you are trying to attract buyers.
For more information about selling your house or for more information about Hickory, please feel free call or text me at 828-234-0479 or visit my website at www.MikeKellyJr.com
I am the first certified EcoBroker® in the Catawba County Area. This is a value added service I offer to my clients. Contact me today to show your properties that are Built Green, have green energy saving aspects or could be remodeled green with your personal touch. If you own a green home and are ready to sell, list your home with me and I will market and sell your place to a green-minded buyer.
