Times are tough but real estate is still selling; yes there are buyers out there but they are much pickier and somewhat spooked with what is going on in the housing market.
What do you need to do to help sell your property? I have some tips that may help you achieve success sooner than later.
1. Be realistic and price your property right the first time, this is a challenging market period! Sure we all want to get top dollar and not leave any money on the table but not selling early into the process means higher holding costs including real estate taxes, insurance, utilities, interest and upkeep. From my experience I recommend that you secure both a market analysis from your realtor and an independent third-party appraisal. Price the property no higher than 5% above the top value or no higher than 10% above the two blended values. Listen to the experts.
2. The first Offer is typically the best; work with that Buyer to get the deal done and don’t take too much time in replying to the Offer. Keep it simple and don’t muddy the waters with little details like who gets the microwave, the bench in the front hall or who pays what for the safe water test. Personal property pettiness often kills deals, don’t lose track of the BIG PICTURE.
3. Stage the property right from the get go; clean up your property whether it is a vacant lot or your million-dollar-home. Get rid of the clutter inside and out and update even if it means trashing your velvet curtains and changing the orange countertop to granite. I have always believed it takes spending some money to make money and getting your real estate ready is no different than running a business. Paint the front door, trade out the vinyl for tile or wood flooring and please get rid of the PETS….well at least during the showing! Clean it up, Spiff it up and give it that “Pottery Barn Look”.
4. Understand Buyers; most don’t want a project. SEE THE PARAGRAPH ABOVE. Most Buyers want to walk in, throw a log on the fire and put their feet up. Believe me there are not a lot of do-it-yourselfers out there and they expect your house to look like the “HGTV” finished house not “This Old House” project. Take away all the negatives you can; if a Buyer likes what he or she sees it will cut down on the negotiating.
There are no guarantees but I can tell you that if you don’t pay attention to the above you had best put yourself in “patient” mode and be ready to adjust your price down as your property gets stale from market exposure.
This weekend we are expecting 2500 riders in the Chequamegon Fat Tire Race. Next Saturday is the Birkie Trail Run and Trek (we are a sponsor) and don’t forget about Fall Fest next weekend as well! Plus the Hayward Library Fall Century Bike Tour is on Sunday, the 21st.
Life is Good….Enjoy!
Gary Nathan
Woodland Dev. Realty
