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One of the
most frequent requests I receive from potential home-sellers, is advice on which
preparations they should make to their home prior to listing. The following links
will take you to areas within my web site, offering specific advice and
information on just this subject!
In this new ultra-competitive Real Estate market, which homes are buyers choosing . . and why? The reality of our Central Florida market, in Fall of 2007, is that there are over 26,000 homes listed in MLS, not including all the new-home inventory that exists all over Central Florida. Buyers are in the driver’s seat both for now, and for the foreseeable future. Because the average buyer can now look at dozens of homes (before they choose only 1), the following information will guide you in preparing your home for a timely, successful sale. There are improvements that fit every budget, from lower dollars ($) to higher dollars ($$$). Depending on what type of market you have (increasing prices = up market) (decreasing prices = down market) (stable prices = stable market), you may be able to sell your home for higher prices with some of these improvements. Our current market, as of Fall of 2007, is "decreasing" in most neighborhoods. In our current market, these enhancements will simply help you MOVE your home while the others SIT on the market: “Top 10 List” for Preparing your Home to Sell: 1. Remodel Kitchen & Bathrooms ($$$) -- Choose premium natural woods such as Maple or Cherry, and premium counters such as Corion, Engineered Materials or Granite. This is the #1 improvement, in my opinion, that buyers love to see in older, more affordable neighborhoods. This really makes your home stand out vs. all the other homes offering dark oak cabinets & Formica counters. Don’t forget about the appliances! 2. Update Roof or Air Conditioning ($$$) -- If your roof was replaced in the early 90s, after the hail storm us old-timers remember, it’s time to replace it again. You likely lost some shingles from the ’04 hurricanes, which means it’s ready to be replaced. Leaky roofs cause mold growth in attics, insulation, walls, etc. Nothing will kill your sale faster than mold. If your A/C is older than 12-14 years, more efficient systems are available, that will cost much less to run and provide much better comfort. Don't forget about your ducts! Older ducts can have holes in them allowing cool air to escape into your attic, or insulation may be breaking down. 3. Replace Flooring ($$) -- Wood Laminate flooring has become very common, maybe too common. All Tile Flooring is always a favorite, especially the larger sized tiles, with nice texturing. Laying tile on the diagonal or using decorative in-lays at entrances always makes a statement. Tile flooring is great for allergy sufferers, comes in every imaginable color/grout combination, and is reasonably easy to install. Wood Laminate flooring is more affordable than 100% natural wood, and may resist ground moisture better. Edges can peel up however, so a professional installation is recommended. Don’t try to sell your home with old or original carpeting. Also replace carpeting if it is a non-neutral color such as anything too dark, too red, green, blue, etc. Replace vinyl flooring with tile. 4. Lawn/Landscape ($) -- Re-Sod thin grass areas or weedy areas with St. Augustine. Consider adding a sprinkler system, as nobody really enjoys moving sprinklers around. Add fresh mulch to your garden bed, install new shrubs or trim the ones you have, add flowers for color. 5. Paint Home ($) -- Exterior color should be a neutral tone; any shades of beige are great, with a nice accenting trim color. Again, stay away from shades that are too dark, etc. Interior should be painted either white or an off-white color such as “antique white”, “eggshell”, etc. Baseboards should be painted pure white to show off the base color of the walls. Also paint interior trim, doors, and closets. 6. De-clutter Home ($) – Your goal should be to have the air conditioned portion of your interior completely clutter-free. Pack up collections, extra belongings, clothing, knick knacks, anything you don’t use on a weekly basis. Invest in plastic, stackable tubs for items that can be damaged by garage moisture. Stack your tubs in your garage, from floor to ceiling if you need to. Throw away all the stuff you don’t use, and try to resist holding out for the garage sale pennies you can make. Donate the stuff instead. If you need a storage garage, bite the bullet and get one. Your kitchen and bathroom counters should be as close to bare as possible. Put your basic bathroom stuff in a small tub, and keep below the sink for easy use. 7. Strategic Furniture Placement (free) -- Your goal should be to create as much visible floor space as possible. Place furniture on outer walls, with big open spaces in the center of each room. The rooms will look much larger this way, and your home will appear bigger than a cluttered, comparably sized home. 8. Make Repairs ($ to $$$) -- When you list your home, you disclose any defect about your home on a form that the buyer gets to see before they make you an offer. This is called the "Seller's Disclosure & Latent Defects Statement". If you know in advance that there are systems or mechanical components of your home that don't work or are broken, take the time to fix them. Buyers are not choosing fix-uppers right now (Fall of 2006), and if they are, are paying far below market value for them. 9. Offer Cash Allowances ($ to $$$) -- If your home needs some or everything noted above, but you just don't have the funds necessary to make these improvements, then you an offer an "allowance" to address specific repairs or improvements (R&I) that your home needs. This can help you "level the playing field" and compete with homes that have all or most of these enhancements in place. It is IMPORTANT not to offer a token allowance, but the FULL AMOUNT, with written quote where possible. The only down side to this is that you won't be able to duplicate the FAVORABLE 1ST IMPRESSION that your competition will have. 10. Pets & Smoking ($) -- The goal of preparing your home, should be to make it as appealing to the majority of buyers as is possible. A large percentage of buyers either don't have pets or don't smoke. Any odors is bad. If your home has smoke or pet odor, the only way to really eliminate it is to re-paint and re-floor carpeting. There will still be some aroma in your cloth furniture, but air fresheners can help there. Also, litter boxes, feeding bowls, etc., should be in out of the way places. Very few sellers will do ALL the items noted on this list, but the ones that DO will sell their home for the very best prices the market can produce, and in the shortest amount of time. Buyers want what they ALWAYS WANT; the best homes, in the best condition, that ALSO offer the lowest prices. They are looking for VALUE -- plain and simple!
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