Coffee house chat has it that the real estate market has somehow changed for the worse, but can't put a finger on it. I disagree; people are listing homes, they are selling homes; they are happy, and they are making money. The psychological effect of down markets in other parts of the country, record new construction numbers in Thurston County, and unreasonable expectations from some sellers has definitely had an impact on our collective perception of the market. The facts, however, are that we are buying and selling homes at a brisk pace, interest rates are great, and our geographic location and projected growth bode well for the future.
If you are thinking of selling your home, think of it just as you would selling yourself, your business, or anything else of value. You must stand out among the masses, you must not be distressed, and you must not be too expensive. Many sellers, who really are anxious to sell, are acting like unmotivated sellers; the highest price in the neighborhood, thinking the buyers will have "vision" when it comes to the yard devoid of grass, the little hole from the doorknob behind the front door....these things tell your buyers that they can keep looking, this home isn't going anywhere.
I don't mean to say that you should make your home like new before putting it on the market, but it is in your best interest to make it "Show" in its best light. Your agent should make suggestions regarding clean-ups, repairs, and weather or not you will get a return on the investment. Remember though, the return may not come in dollars; it may come in the form of a contract, resulting in a quick and hassle free sale. I have personally patched the hole behind the door, seeded the yard, and cleaned the windows in order to make a property show well and sell, the goal being to close the tranaction and make all concerned happy.
A number of techniques to help a home "show well" have come (back) into style. Not very long ago, there were so few homes on the market that price was the only consideration. Buyers were willing to seed the yard and patch the hole. Not anymore; an increase in inventory has created competition, and competition has become our collective "speed bump" in Thurston County. If you want to overcome the "bump", curb appeal is the name of the game, and it applies to the entire property, from the attic to the crawl space to the price. Clean it up, pretty it up and paint it if needed. Don't give YOUR buyer a "negative" to compare with the house up the street.
In addition to the obvious, staging is something else that can be very helpful. Demonstrate the use of space (as well as spaciousness) with small items of furniture, decorative curtains, vases with plants and flowers, and tasteful wall hangings; all help your buyers get a personal feel and ideas for what they will do upon moving in. Your realtor should be willing to help with some staging, and can also refer you to companies that provide this service for a fee.
There are several key elements to making a sale, not the least of which are the item which is for sale, and the needs of the buyer and seller. Two of the previous three are within your control. The third, the buyers, are out there; just look at the stats in the Sunday Olympian. The buyers that make up those stats bought the home that appeared to be the best deal for them, both in terms of price and desirability. Those buyers were looking for the same things you were when you bought; a solid home without questionable issues at a fair and reasonable price. People don't come back for a second look if the home doesn't meet those criteria. Not if you repeatedly drop the price, not if you fill the hole, and not if you seed the yard; get it right the first time or YOUR buyers just won't come back for a second look.
Phil Sharp is a Realtor with Abbey Real estate Inc. in Lacey, Phil has helped his clients buy, sell and invest in Thurston County real estate for over 6 years, and his investment company, Sharp and Sharp Holdings LLC, has invested successfully in Real Estate in the Olympia area for the past ten years. Phil can be reached at 360-970-9977, or see other comments by Phil at PhilSharpHomes.com
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