November 16, 2007

In today’s tight market – where, let’s face it, selling a home can be difficult – homeowners are becoming creative, looking for a way to get an edge over other homeowners.  One good way to do that, I’ve written about before, is staging your home.  “If you’re trying to sell your home right now,” I wrote, “you need to find something to give you an edge over other buyers.  Home staging can do that.”

But home staging isn’t the only way that you can gain an edge over other home sellers and sell your house for more money, in less time.  The secret?  Fixing stuff (#6 in 7 Keys to Selling in a Buyer’s Market – available for free at http://myphoenixmls.com/sell-in-a-slow-mkt.asp.)

But how do you know how far to go?  “Re-painting makes sense,” you ask, “but does putting in a pool?  Remodeling the kitchen?”

The loose railing.  The broken pane of glass.  The closet door off its track.  The leaky faucet.  They all need fixing.  If you don’t have the time or skill, hire a handyman to go through your home and make repairs.  Consider replacing the old roof that looks like it might leak, the antique furnace, and the stained carpet.  When there are few homes on the market (in a seller’s market), sellers can get away with offering their buyers cash at closing to make those kinds of repairs.  But with so many homes on the market today, buyers have the luxury of only bidding on homes in move-in condition.  Make sure yours is – fix whatever needs repairing before you list your house.

There’s an article on my website, Selling Your Home – Do You Improve It Or Leave It? – available for free at http://myphoenixmls.com/best-improvements.asp.  The bottom line?  The improvements you should make aren’t necessarily those that give you a big return on your money.  Instead, they should be largely generic, cosmetic improvements that enhance your home’s functionality, efficiency, and aesthetics.

Often that simply means cleaning up and removing clutter.  A new coat of paint, new carpeting, freshly manicured landscaping, updated fixtures, windows, doors, and other touches will put your home in the best light.

If an inspection or appraisal turns up the need for major corrective work, say due to termite or moisture damage, leave money in escrow with instructions for the escrow officers to pay the contractors – after closing – once they complete the repair work.

A good real estate agent will be able to help you through the decisions about what to repair and what to leave as is.