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Getting Your Home Ready for the Summer Selling Season - 2009-03-22 |
This is a tough time to sell a house. And if I had a choice of whether or not to sell this year, I believe I would postpone the selling effort.
Yes, interest rates are remarkably low and yes, this is a great time for buyers to buy. But no, they are not flocking to open houses and no, you are not likely to get top dollar for your real estate this year.
In fact, just the opposite is the case. A seller in today’s market can expect picky buyers to ask for the sun and the stars, and they may very well get it.
But if you are one of the owners who just have no choice, you simply must sell as soon as possible, there is some good news. Believe it or not, there are more than a few serious buyers out there, and it is, in fact, entirely possible that you will be able to sell your home this summer.
According to the local MLS, average selling time is currently just under 100 days, and metro Atlanta sellers are getting around 92 percent of their asking price when they finalize the deal. That’s not bad given the mood of the public.
Here are some things you can be doing right now to get ready for the summer selling season:
* You only get one chance at a first impression. So make your home inviting from the street. Green up the lawn, trim back all the hedges below the windows, get all leaves and tiny trees out of your gutters, and patch or repair drives and sidewalks.
* Pay special attention to the area surrounding your front door. Paint the railings and trim and the door itself so it is bright and cheerful. Add a brass kickplate and brass numbers to the front door to attract the eye. Buy some potted flowers to add a splash of contrasting color to your entry way.
* Create a package of information about your house that you can hand out to prospective purchasers. For example, your package should include a copy of the survey, the tax data page from the county, the listing information as furnished by your agent, a recent home inspection, a recent appraisal, and information about the utilities consumption for the prior twelve months. I would also put in a lenders “pro forma” showing the cost to buy this home under several financing options.
* Another nice touch in your information package is to include some things emphasizing why your home and community are special. Include a copy of the neighborhood news talking about the recent cook-out. Add photos of your kids at the community pool or tennis court. Show that your home has meant a lot to you, and that you will miss it.
* As to the house itself, everything needs to be perfect. Know that today’s buyer has no imagination whatsoever, and that if your home represents a renovation project, the only offers you will receive will come from renovators, not from owner-occupants.
* Fresh paint is the least expensive way to make a house smell fresh and clean, and I recommend that you paint something, even if you don’t need to do so. When in doubt, paint.
* Carpets must smell clean and fresh and not look worn out. Anything less hurts your overall marketing effort, and will detract from your sale. You are, in my opinion, better off replacing the carpets now than paying for it during negotiations later.
* Baths must sparkle and have a faint odor of chlorine bleach. That combination of olfactory and visual stimuli screams CLEAN to the brain in a way nothing else can. And if you can’t get it perfectly clean, then it’s time to replace it. By the way, I have seen some amazing things done with tub and tile refinishers. They can create a durable surface that looks almost exactly like new porcelain, and at a fraction of the cost.
* Kitchens today simply must have granite countertops. If your house is in any price range above $150,000, then the buyers will be expecting granite. And if you are in a price range below $150,000, you can score big points by splurging and upgrading to granite. Know that there are wide price disparities in the world of granite countertops, and that you usually get what you pay for. But also know that there is a perception of value in the buyers mind that is somehow reinforced by seeing granite countertops. Just do it.
* While we are in the kitchen, please upgrade your faucet and your lighting. Each of these can be made top notch for just a couple of hundred dollars, and each carries an outsized weight of attention in a house that is “for sale.”
* Last but not least, clean out everything from your basement or crawl space, and cover bare earth with black plastic sheeting. It presents a clean uniform surface and prevents the absorption of ground moisture into the air. If necessary, provide needed ventilation to avoid any dampness or musty odors.
These tips can help your home stand out from the crowd, and hopefully bring you a better offering price sooner than other sellers in your neighborhood.
Questions or comments?
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John Adams Presents
LANDLORD SURVIVAL TRAINING
with John Adams
Tuesday, February 28th
Being a landlord can be a rewarding experience. It can also be a difficult one if you don't have the knowledge and understanding of what the process requires.
Few schools offer degrees in property management, so most landlords learn "on-the-job" through acquired knowledge and on-the-job experience, essentially re-inventing the wheel. This is an expensive and depressing way to learn anything.
Whether you're a full-time landlord or just getting ready to purchase your first rental property, whether you are a licensed Georgia real estate professional or an accidental landlord, this seminar will help you improve your property's value, increase your cash flow and decrease your expenses, from attracting (and retaining) good tenants to maintaining your property to understanding your rights and obligations under the law.
For more details and to register click HERE
PROPERTY TAX REDUCTION WORKSHOP
with John Adams
Tuesday, March 27th
One of the significant annual expenses faced by any Georgia property owner is ad valorem property tax. Depending on where you live, it can be as high as three percent of the property's fair market value, and it must be paid year after year after year.
As a result, efforts to minimize this expense are not only worthwhile, they are encouraged by Georgia law. The phrase "ad valorem" means that each property is taxed based only on its value, and no one is required to pay a penny more than the minimum the law demands.
At the Property Tax Reduction Workshop, real estate expert John Adams will review the system he has used for over thirty years to reduce valuations and assessments in Georgia counties and municipalities, saving himself literally hundreds of thousands of dollars over the years.
In this 3 hour information packed seminar, John will teach you how to:
1. Understand the legal process of Property Tax Assessment
2. Meet the newly uniform Tax Deadlines
3. File your own Property Tax Return with a realistic valuation
4. Document your PT-50R with facts to support your case
5. Proactively meet with your Appraiser to reach an agreement
6. Protest your Notice of Assessment in an Intelligent manner
7. Give the Assessor an Opportunity to Save Face
8. Appeal to your Board of Equalization, in person or by mail
9. Make Your Case to the BOE
10. Take Your Case to Superior Court if necessary
If you are not doing all these steps now, you are likely costing yourself hundreds or thousands of dollars a year. If you own just one house, you could easily save over a thousand dollars over the next three years. If you own properties valued collectively over a million dollars, you are literally throwing away your profits year after year.
For more details and to register click HERE
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