It's probably safe to say that now is a good time to buy. Home values have remained stable, and interest rates are still pretty low at just over 5% as of today's publication date. But did you know that it's also a pretty darn good time to sell?
What does this mean for you as a seller? It means that buyer confidence is returning, and you have a much better opportunity right now to sell your home than you did last year, even with the First Time Buyer credit. We currently have about 10 months inventory on homes under $150,000 in the Chippewa Valley, so if you price your home right, prepare it for sale, and trust in a good Realtor who will aggressively market your property you should be happy with your home sale results.
What exactly do I mean by preparing your home for sale? Well, there are several factors involved and most of them revolve around depersonalizing your home. You can go online anywhere and get lists of "what to do when you are selling" that include everything from replacing outdated flooring or cabinets to painting the trim on the exterior of your home. Your Realtor is not a home stager but can give you great pointers on what might need to be fixed, painted, decluttered and cleaned before you can expect an offer. I make it my practice to give that advice only after I have a signed listing contract. However, the lists you find online can be very helpful in getting you pointed in the right direction, or you can hire one of the local professional home stagers.
The top 10 preparations that I find work best for our area include the following:
1) GET RID OF ALL EXTRAS - declutter like crazy, and if you rent a storage unit for several months to put those extras in while you are marketing your home you should consider it money well spent.
2) WALLPAPER IS NOT IN - repaint walls, remove wallpaper and anything floral or fruity. Neutral is key - you want it to feel about as personal as a hotel room.
3) CLOSETS HALF FULL - or half empty, however you feel about that. But remove at least half the items in each closet, stretch the hangars that remain to about 1" - 2" distance from each other and make sure that top shelf has only a couple items on it. Showcase the storage space!
4) LEAVE SOME FURNITURE IN PLACE - so you have to move out of town - bedrooms especially are difficult to picture how furniture fits so leave a few pieces for visual effect. Trick I like; king size air mattress on top of laundry baskets (for height), put on a nice dust ruffle, comforter and shams stuffed with old pillows or air pillows in a bedroom. Shows off the space, doesn't cost a mint and easy to move around. Just make sure you have a tent card announcing it's not real furniture and keep off!
5) FRESHEN THE BATHROOM - this is often hardest as you can't use your shower for a few days, but remove your soap stained grout or caulk and replace it with brand new. Use a mix of 1 part vinegar to 3 parts water to shine up your tub, shower, floors, toilets and sinks and do put a fresh set of towels out when people are coming to see your house. Trick I like - get a pretty set of "show towels" that are not used for anything but display for your showings. They will look fluffy and clean, your bathroom will show better. Do NOT use a plug in air freshener or pot pourri - lots of people are turned off by heavy air fresheners and think it means the seller is hiding something.
6) GET AN ENTRY WAY RUG - and leave a chair, especially in the winter, handy for house hunters to take off and put on their shoes. It makes people feel welcome and wanted, and gives a good first impression. Have this rug specific for your showings and open houses - daily use will quickly dirty the rug and you want to give the same impression as you get entering a clean hotel room.
7) REMOVE ALL COUNTER DECORATIONS - your kitchen is a big selling point - if you have lots of counter space a plant or decorative flowers are good with NOTHING else in sight; if you have limited counter space make sure there is not so much as an envelope on it. You want your kitchen to feel workable and welcoming to a prospective buyer - it won't be your kitchen after the sale - make it appealing to others. A plate of fresh baked cookies on the stove top with a tent sign saying "enjoy one" is welcoming - heavy perfumy smells just cry "I'm hiding icky smells!" If you have a garbage disposal, run an orange peel or half a lemon in it immediately before the showing or open house - it freshens the air without perfume and smells "clean".
8) TAKE OUT EXTRA FURNITURE - okay, you periodically have a dozen teenagers in your living room so you have 3 couches and 2 recliners set up in front of the video game tower for their convenience. Guess what - it makes the room crowded, uncomfortable and even if its a huge room it makes the room feel small and unwelcoming. No more than 1 sofa and chair in a moderate sized living room. Vacuum right before showings, dust your end tables and TV and make sure your kids' pictures are removed for the showing. You want prospective buyers to see their furniture in the living room, not yours. IF you have a wild print on your sofa, please get an inexpensive slipcover in a neutral color and put it on for the showings - wild prints and colors distract the buyers from the house itself.
9) NO WALL OF PERSONAL PHOTOS - or as my kids call it wall of Shame. You want buyers to look at your house, not try to figure out if they know the people in your wedding photo. Again, Hotel Level Depersonalization!
10) Clean up the outside - in the winter, make sure there is no dog sign (yellow snow) at the approach and please do go so far as to sweep the front stoop. In the summer, keep the bushes and grass trimmed and the flower beds weeded out. This is your house's first impression, and instead of having people drive by and dismiss it because the front looks uncared for, make sure it looks well manicured from the street view so that casual passersby calls your agent's number (prominently displayed on their signage) and books that showing appointment. Replace the banged up mailbox, put a new net on your basketball hoop and power wash the exterior of your home. In the Chippewa Valley, you can find several companies that will do this for you at a very reasonable rate, including windows.
Just remember, you've had some great memories in your house; but when you are selling, it's time to let someone else envision their own great memories in the making.
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