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How to Quickly Prep a House for Sale

Smart Moves by by Ellen James Martin
by Ellen James Martin
Smart Moves | December 17th, 2014

A woman in her 50s was highly motivated to make an out-of-state move for a new job. But before her house could go up for sale, she had to cull through her huge collection of belongings. The task was enormous, but she managed to do it in a week of focused work.

"I gave her a step-by-step action plan and she followed it meticulously," recalls Kristin Bertilson, the professional organizer hired by the woman to oversee her project.

Bertilson, who's affiliated with the National Association of Professional Organizers (www.napo.net), advises hurried home sellers to pre-pack their largest and heaviest belongings first.

"Start by removing non-essential furniture, placing the extra pieces in storage so your house won't look crowded. Then pack away the contents from your bookshelves, leaving just a few books behind," she says.

After that, she recommends you head for the kitchen.

"Pack away all the kitchen items you use only intermittently, like your crock pot and popcorn maker," Bertilson says.

During the culling process, you'll want to save for last any items that are hard to let go for sentimental reasons.

"You don't necessarily make final decisions on your mementos before you move. Instead, you can neatly pack these items and go through them after you've reached the next house," Bertilson says.

Mark Nash, a long-time real estate broker and author of "1001 Tips for Buying & Selling a Home," says many sellers now have less lead time than in the past, making a methodical prep plan all the more important.

Are you a homeowner who wants to move as soon as possible? If so, these pointers could help:

-- Target those projects with the most impact.

"An experienced agent can help you identify tasks that will make a real difference to a sale versus those not worth doing," says Dorcas Helfant, a former president of the National Association of Realtors (www.realtor.org).

For instance, your listing agent might dissuade you from hiring a landscape architect to redesign your backyard. But the same agent could convince you of the value of resurfacing your kitchen cabinets.

-- Look to outside assistance if your time is limited.

Do you often work overtime or have other duties that require time outside of your job?

Sellers in this sort of situation need extra help from their listing agent, Nash says.

Nash estimates that at least 40 percent of listing agents will assist their clients in finding contractors for pre-sale repairs and cosmetic improvements. Many will also oversee the contractors' work while it's underway.

"Interview proactive agents whose references say they're super-organized and have a database of good contractors," he says.

-- Set your priorities thoughtfully.

As Nash says, it's crucial for any time-strapped home seller to set priorities.

"Walk through your property with the agent, listing all the steps that could make a worthwhile difference for your sale. Then classify them into "A-," "B-" and "C-level" tasks. Start with the "A" items. Move on to the "B's" and "C's" only if time allows," he says.

-- Address your top-priority projects first.

"If you can afford it, hire people for your grunt work. Find people to wash your windows inside and out and to prune your shrubs. Also, consider hiring professional painters," Nash says.

When it comes to interior painting, Nash urges you to avoid such daring colors as magenta, salmon and mustard. Granted, bold colors are commonly recommended by designers on popular TV home improvement shows. But sellers risk alienating potential buyers when they choose controversial colors.

He recommends that sellers select a single neutral color, like an off-white or light gray. and then use it throughout the home.

"Bold colors make the buyer's eyes stop, start and stop again. But when you use a calm neutral, your home appears larger and more unified," Nash says.

-- Take on "B" and "C" tasks if time permits.

One "B-level" item on most sellers' task lists involves window treatments.

"If you have the kind of heavy drapes your grandmother had in her house, take them down. The current generation of buyers likes a light, bright living environment. That's why you're often better off with no window coverings than those old-style drapes," Nash says.

Additional items on your "B" list should include the installation of new kitchen countertops, assuming yours are nicked or damaged. Also, consider sanding and polishing worn hardwood floors.

"C" items typically involve improvements to a house that are outside its main living area, such as attics and garage spaces. They also include repairs to cracked or stained driveways and walkways.

"When time and money are limited ... you've got to put your resources where you'll get the best return," Nash says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

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Selling a Luxury Abode in a Slow Market

Smart Moves by by Ellen James Martin
by Ellen James Martin
Smart Moves | December 10th, 2014

Given the advancing economic recovery and mortgage rates that remain favorable, home sales in most neighborhoods continue to be strong. But there are always "outliers" -- places where the market is slowing due to special factors, like layoffs announced by a nearby employer.

"Because all real estate is ultimately local, you'll always have housing markets that move contrary to the rest of the nation," says Michael Connerly, a real estate analyst and author of "How to Win With Real Estate."

A slow market can be discouraging for homeowners planning to sell an extra-fancy, upscale home for which they'd hoped to get a premium price. But even in a weak market, Connerly says it's possible for a one-of-a-kind showplace with exquisite features to fetch a fair price.

What characteristics set showplace homes apart? As Connerly says, these are typically spacious properties in the top 5 percent of the value spectrum for their area. Many have Old-World charm and such features as ornate moldings, built-in cabinetry, exposed beams and floor-to-ceiling windows.

Here are a few pointers for showplace sellers:

-- Don't bank on an excessive price premium.

Dorcas Helfant, a former president of the National Association of Realtors (www.realtor.org) cautions against attaching too high a premium when pricing your showplace --particularly in a slow neighborhood market.

"I wouldn't go more than 3 to 5 percent over other homes of the same size in your community, even ones that don't show nearly as well," Helfant says.

As Connerly stresses, sellers who ask too much at the outset of a listing often pay a large penalty later if their property sits unsold for a lengthy period and the price must be dropped to draw buyers back.

-- Choose a listing agent with a sharp eye.

Buyers are always influenced by the appearance of a home, particularly how it looks from the street view. This is where a showplace can especially shine.

As Helfant says, "People who have a spectacular house have all the more reason to show it off through excellent visuals," such as photos for print advertising and video for online listings, including the online "virtual tours" that are now a popular marketing tool.

-- Request a neighborhood-wide open house.

When it comes to run-of-the-mill residences, real estate specialists often downplay open houses as a means for attracting serious buyers.

Still, Helfant says there's a way to enhance the impact of an open house conducted for a showplace: encourage other nearby sellers to hold open houses on the same afternoon, thereby increasing the potential draw.

"The more homes that are open, the greater the chance that serious prospects will come by, with or without their agents," she says.

As Helfant says, a neighborhood-wide open house can be especially beneficial for the sellers of a showplace. That's because buyers who visit multiple open houses in the same area can easily compare all the places they see.

"Go ahead and encourage buyers to see your competition. A beautiful house that's staged to sell will outshine all the others during a mega open house," she says.

-- Don't postpone moving plans due to a weak market.

Many owners of showplace homes are resistant to letting go of a beloved property, even if they have a good reason. And some even cancel their plans to sell soon after their place hits the market.

For example, Connerly tells the true story of a couple in their 50s who owned a handsome Edwardian-era property. Their plan had been to buy a waterfront place where they could one day retire. But within days of their place going on the market, they called their agent to withdraw the listing.

"Their 18-year-old daughter had become hysterical about losing the house where she'd grown up," Connerly recalls.

Tom Early, a longtime real estate broker who was twice president of the National Association of Exclusive Buyer Agents (www.naeba.org) encourages sellers with second thoughts to remember the larger picture, taking into account the personal and financial implications of postponing a sale.

"Life isn't a dress rehearsal. If your dream after selling your showplace is to change your lifestyle for the better, then postponing a move could translate to quite a sacrifice in your happiness," Early says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

home

Selling a Run-Down House

Smart Moves by by Ellen James Martin
by Ellen James Martin
Smart Moves | December 3rd, 2014

Because he's facing both financial woes and multiple maladies, a semi-retired consultant in his 60s badly needs to sell his suburban cottage. But although his place is located in a popular neighborhood served by top-notch public schools, he was recently rebuffed by an agent who refused to take his listing.

The problem is the consultant's resistance to taking even minimal steps to make his place presentable, such as basic cleaning and clutter clearing. That, coupled with the man's deferred maintenance and overgrown yard, convinced this agent the property wouldn't be saleable in its current condition.

"Sometimes, real estate people simply have to turn down potential clients who reject reason when it comes to getting their house ready for sale," says Sid Davis, a real estate broker and author of "A Survival Guide to Selling a Home."

"These days most buyers ... can't afford to take on substantial home renovation projects," Davis says.

But spending a lot of money on a crash program to upgrade a property in extremely poor condition isn't always the wisest course. If the problems are serious, those who invest too much typically can't recoup their outlays at the closing table.

"Focus your spending on your highest-priority projects, like cosmetic fixes to your kitchen and bathrooms and essential repairs, like plumbing or electrical problems. Also, paint your property and make your front entrance beautiful," says Ashley Richardson, a veteran real estate agent affiliated with the Council of Residential Specialists (www.crs.com ).

Here are a few other pointers for sellers:

-- Seek out a seasoned agent for guidance.

Although our consultant was rejected by the one agent he called in to look at his property, Richardson says that he should continue to search for someone who can advise him on how to make his place market-worthy.

Eric Tyson, a personal finance expert and co-author of "House Selling for Dummies," says not all agents are created equal.

"What you want is someone who will help you develop a strategic, step-by-step plan that works within your budget, however limited. And then you have to be open-minded about the necessary changes," Tyson says.

As he says, some agents will even step into the role of project manager, helping you find contractors willing to take on small jobs for reasonable prices.

"It could be a waste of money to pour your limited funds into a full kitchen renovation, including the installation of expensive new cabinets. But it might be worth the cash to paint your cabinets in a high-gloss white paint," Tyson says.

As the first step in the agent-selection process, Richardson suggests you interview three candidates, asking each to critique your home and itemize cost-effective steps to make it more saleable.

"Look for someone who makes eye contact with you and who you can trust to give you a straight analysis," she says.

-- Look for help to de-junk your property efficiently.

Richardson says that sellers who can't handle the often intensive work of prepping a house for sale themselves should ask family members and friends to assist. But what if no volunteers step forward? In such cases, Richardson suggests that owners may wish to hire students or others looking for temporary, part-time work.

"Post a classified ad that seeks assistance 'pre-packing for a move.' And don't forget to check background references before you arrange for any stranger to come over to your house," she says.

Richardson recommends you delegate to the person you hire a series of manageable tasks.

"Tell them, for instance, to pack up the contents of your kitchen cabinets, a heavily loaded bookshelf and your bathroom countertops. All these items, most of which you won't miss, can be packed in your garage in neat stacks," Richardson says.

-- Give potential buyers help to picture your home's possibilities.

If the house you're attempting to sell is run-down, the odds are you don't have enough money for major improvements. Even so, Richardson says it's critically important that you make your place at attractive as possible.

"You won't get buyers out to see your home in person unless it can pass the 'online photo test.' Everyone is now pre-screening property on their smartphone or computer," she says.

In addition to packing away clutter, you'll want to cart out any furnishings or draperies that make your place seem drab or tired. These could be replaced with items borrowed from your agent.

"Realtors sometimes keep a stock of a few good furnishings, including lamps, area rugs and paintings, that you can use during the showing period," Richardson says. In addition, she says the owners of an "as is" home should give to visitors contractors' estimates for necessary fixes.

"Homebuyers routinely overestimate the cost of home improvement projects. You can help them to calculate the likely costs they'd face if they bought your fixer-upper," Richardson says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

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