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  Tools & More : Library : Real Estate

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Collection of Featured Articles
Articles for Realtors

REAL ESTATE ARTICLES

Choosing the Right Realtor for You
Helpful Reminders for Your Mortgage Experience
Selling Your House in a Tough Seller's Market

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Selling a House in a Tough Seller's Market

The real estate market has turned away from being a "seller's market." Nowadays you hear about homes going for less than asking price, buyers negotiating for closing cost assistance, realtors negotiating for more remodeling incentives. Years of record hot home sales and bidding wars has left today's sellers high and dry, not knowing what to expect or why real estate is moving so slowly.

In reality, a property taking 30-90 days to sell is actually quite standard in a more stable real estate market. Sellers now need to not only be more patient with realtors and buyers, they also need to start putting more effort into their homes in order to prep it for sale. With the market being so tough on sellers it is important to leave the best first impression possible on a prospective buyer. Here are just some quick, last minute suggestions to help really give the house a definite charm:

Improve curb appeal. First thing's first, Real Etate 101. The house may be a stunner from the inside but if the outside of the home appears unkempt and shabby, prospective buyers may just drive by. So make sure to trim the lawn, rake the leaves, get rid of unnecessary junk, and clean the driveway. A coat of fresh paint on the house never hurts either. The first impression can be the last impression, so it's important to make the first impression count.

Refinish the front door. The front door is the entrance to the house and soon to be the entrance to someone else's home. So every effort to make the front door look new, secure, and elegant will pay off. Refinish or repaint the door. Install a new lock and handle. If budget allows, even consider replacing the front door altogether!

Clean the house. A clean, scent-free, uncluttered house makes for the best presentation for a prospective buyer. So make sure to dust off cobwebs, vacuum the floors, and scrub the bathrooms.

Make the house fresh and clean. Open a window. Light some candles. Put in an air freshener. Fresh, clean smelling air always helps any room, especially bathrooms, feel that much more welcoming and enjoyable.

Rid the house of clutter. The less clutter there is in a house, the more spacious it appears to the prospective buyer. And of course, the more space there is the better impression it leaves on a buyer.

Plant some plants. Flowers and plants in and around the house give the home a sense of coziness and charm. Besides a walk around the neighborhood nursery never hurt anyone.

Get rid of dying or dead plants. We all have aspirations of having a green thumb some time in our lives. But when our landscaping and planting projects fail, we're often left with a yard or house of dead or dying plants. When your home is being put on sale, it's time to dig them up and throw them away! The sight of brown, dying plants is not the first thing you want a prospective buyer to notice upon viewing the home.

Make the fireplace the center of attention. A fireplace is a highly sought after amenity, especially in colder regions of the country. So make sure that if the house does have a fireplace to put it in the spotlight. One way of accomplishing this is to rearrange furniture around the fireplace to showcase it.

Reface or repaint older cabinets and doors. When a prospective buyer sees an old cabinet or a peeling paint job, the first thing that comes to mind is "fixer upper." Though it may not be a huge fixer upper, it may lead to unwarranted lowball offers. To avoid all this make sure to take an extra day to reface or repaint peeling or fading cabinets and doors.

Artificially enlarge a small room. There are many ways to make a small room appear larger, here are just a few suggestions:

1. Place a floor length or hang a large mirror, creating the impression of more space in the room.
2. Paint the walls with a lighter and cool color. Lighter wall colors make a room seem larger.
3. Minimize the number of prints in the room; 1 theme is good, but too many clutters the eye.
4. Choose furniture with open arms and exposed legs--stay away from traditional loveseats
5. Use as much vertical space as possible to prevent the actual use of floor space
6. Arranging furniture at a slight angle sometimes helps, giving the room more charm

Wax or refinish floors and countertops. Gleaming floors and countertops give the best presentation to a prospective buyer. It shows them one of the home's best features in its best light.

All in all, the fact still remains that appearances matter. In a tough seller's market, you don't want an insignificant detail like a peeling cabinet door or an unsightly carpet stain to be the reason why your house doesn't sell. So take the time to go over the small things in the house and make sure everything is in its best condition. Make the first impression count.
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