Looking To Sell Your Home? (part 3)

Tip #3: Curb Appeal

Have you ever judged something or someone based on outward appearance? I think if we are being honest, the answer will be yes. Now whether or not our initial impression turned out to be correct, the fact still remains that we made a judgment based on no more than appearance. Sometimes that tattooed-biker turns out to be a teddy bear with a heart of gold, and sometimes that house down the street with weeds and paint peeling off is immaculate inside.

In our reality, most buyers will drive right by a home if it does not appeal aesthetically to their senses. Now, in our business, if the outside is in shambles, it's a pretty good indicator of what the inside will look like - but not always. Wouldn't you want to capture all buyers' attention and at least pique their interest to come inside? To do this you MUST have curb appeal, but what exactly does this mean?

•If you have a lawn in the front yard, make sure it is mowed frequently and looks green. If you have bushes and trees, make sure these are pruned.

•If you can, flowers always dress up a yard. Go down to your local nursery and see what is in season. In most instances, they can even help out with design and installation. If you are located in central Phoenix I would recommend either Whittfil Nursery (www.whitfillnursery.com) or Shady Lane Nursery (602-997-1901).

•Time to clean the outside of your home. This would include cleaning your windows, power washing your siding (if applicable), and if your budget will allow – a fresh coat of paint. Remember, these small investments will reap big dividends.

•Subtraction leads to addition. Sometimes it’s what we remove that makes the biggest improvement. That half-dead, diseased tree in your front yard will not look better by trimming a few branches – take it out. Those overgrown bushes up against your home are hiding your home. Remove them and expose your gorgeous home. The few items above are not a huge monetary expense/investment but you WILL reap the rewards. In fact, most of the aforementioned advice comes to down to a little of your time and labor, and don’t you think your home deserves this? I do.

Looking To Sell Your Home? (cont.)

Tip #2: Staging

This aspect of selling your home is becoming more and more popular - the reason is that it works!

Staging a home is where you "dress up" the home to show it in its absolute best light. Most sellers will outsource this job to a professional (I'm assuming you have already outsourced the actual selling of your home to a Realtor - we'll discuss this later). For as little as a few hundred dollars for a one-time consultation, to a few thousand dollars (where a "stager" actually furnishes the home), this small investment can yield big returns. It can also increase your chances of getting a buyer in a shorter amount of time.

Again, just like cleaning your home, you need to stand out now more than ever from your competition. There are just too many other homes out on the market for buyers to choose from. Ask yourself what will make yours stand out?

Still don't believe this investment will pay off? If you have a chance, please watch the show "The Stagers" on HGTV. I know it can be a bit melodramtic, but you will get the idea. If you are local here in Arizona, I recommend visitng www.stageaz.com.

Remember the reason you put your home on the market for sale in the first place - TO SELL IT! Why not give yourself the best chance to achieve this - stage your home.

As always, please contact me for comments and/or questions.

Looking To Sell Your Home?

In a previous blog, we determined that the market that we are in is currently defined as a "buyer's market" - where we have an excess of supply. What do you do then if you are a "seller" in this market? Here are 5 main tips I am going to share with you and I strongly recommend doing them ALL.

Tip #1: De-Clutter/Clean your home.

This needs to be your first priority. If you can, rent a storage unit and move everything out of the home that is non-essential. This is going to open up space for a buyer to see the potential. I know it will be tough, but also try to remove all personal items as well - buyers like to be able to visualize them living in the home, not you.

If your budget allows (and since this will be a major sale I think it should), hire a cleaning crew to come in and really give your home a shine. You want your home to stand out from the excess out there, and it can be as simple as having a cleaner home that will attract a buyer. Too many sellers out there will not/do not take the necessary time for this. Imagine yourself as a buyer and walking into a home that looks and smells like a dump. Chances are you will not make it past the first room before you are racing to leave the home, never having the chance to discover its potential.

Stayed tuned for Tips 2-5.

As always, please contact me with comments/questions.

Phoenix Housing Market Better This Year?

It depends on what numbers you care to look at. According to the ARMLS and the Cromford Report, the number of homes sold in metro Phoenix has increased by 40% from 2007 to 2009. In 2007, there were 4,358 homes sold versus 8,007 in 2009.

Again, we can point to the foreclosure market for skewing this upswing - but the point is that homes are selling in an abundance from just 2 years ago.

The other point is that from 2007 to 2009, homes prices in metro Phoenix have fallen by 48.6%. Again, this is according the ARMLS & the Cromford Report. Median sales price in metro Phoenix in 2007: $245,000. Median sales price in metro Phoenix in 2009: $126,000.

Now, depending on what side of the coin you are on, these numbers mean different things. Are you a seller or buyer? Well, if you answered "seller" - not all is lost, but you may want to come up with creative ways to lure those buyers towards your home. This will be discussed in another blog - stay tuned.

If you answered "buyer", the world seems to be your oyster at the moment - capitilize on your fortune. It can be overwhelming out there, but with the right realtor with the right plan, you will find that pearl of a home. For help on purchasing a home, please feel free to contact me for assistance.

Why Buy A New Home vs. A Foreclosure?

Climbing Home Prices in Phoenix?

Climbing Home Prices In Phoenix? It's true! According to the Case-Schiller Index, homes prices in Phoenix rose for the third straight month (up 1.8% from June to July). To keep this in perspective, a majority of this increase is due to the foreclosure market. A fair share of these are listed "low", which creates a bidding frenzy, consequently resulting in "higher" priced sales.

This is affecting the new home sales as well. With the level of inventory (or spec) homes quickly diminishing, and the November 30th Tax Credit deadline soon approaching, you may soon be paying more for one of these homes. Just think back to Economics 101 - supply and demand.

With the eminent convergence of higher interest rates, home prices creeping upwards, and the diminishing inventory of homes that can close by November 30th, NOW is absolutely the time to buy a home.

Please contact me for further info or feel free to leave a comment.