Selling Your Home in Today's Market

Have you had your home on the market for some time, but it hasn't sold? Are you thinking that you do not want to spend more money fixing up or staging your home and hoping a buyer will make an offer that permits an upgrade?

The market is not what it was years ago when homes were selling hand over fist. Even in an area like Chattanooga-Hamilton County, TN, where the market has remained relatively flat compared with other parts of the U.S., buyers are still contending with a buyer's market. At the time I write this article, I understand that less than half the homes on MLS are selling. For Sale By Owners (FSBOs) are doing much worse since they don't have the exposure to the many agents on MLS and to the on-line resources of MLS. Buyers expect an FSBO to be priced lower than a home listed with a realtor because they know a broker's fee is not involved. So an FSBO has less exposure to the market, and buyers are expecting a lower price when they do view it.

Proper staging and pricing are very important in today's buyer's market. I was recently told that of the homes that do sell, about 1/3 sell at a lower price than the owner paid. If you are selling a home, you are competing against foreclosures, short sales, and people in a distressed market. Some sellers have lost their jobs or come across other misfortunes and must sell their homes, so many are willing to take losses to sell their homes. Many people are buying smaller homes so they will have lower house payments than buyers were willing to incur in the past. People are saving more, paying off debt, and investing less.

If your home has been sitting for two months or more, it may be time to consider several things that the market could be telling you. When you are not getting offers, the market is telling you that buyers are not willing to pay or even offer near the listing price of your home. A good realtor can spend hundreds in advertising and time in open houses and showing your home; but if it is not priced and staged properly, it will likely not sell. Buyers may think your home is not in move-in condition. You are competing against updated homes with new granite counter tops, wood floors, neutral walls and other features. Some new homes are selling for a song and dance, figuratively speaking. Do you have old paneling that you could at least primer and paint a lighter color?

Buyers are getting older and may not be willing to climb stairs. They may also want fewer square footage to care for and be unwilling pay for the maintenance costs and time that a larger home requires to maintain.

Your home may not have the "WOW" factor that a buyer wants to see in the first few seconds of viewing a home. Are there cobwebs in the corners? Are screens torn? Is the wood on the deck getting old? Are there dirty place on walls, old railing on stairs, or other dating problems with the home? Are your carpets stained? Are your appliances outdated? If you are unwilling to change and update, it may be time to consider a serious price reduction - if you need to sell your home.

If you can afford it, you might consider taking down your wallpaper and painting your walls a neutral color throughout or getting a professional to do so for you. You might consider replacing dated light fixtures in a few of the rooms. Perhaps you can't afford wood floors, but you might be able to afford a wood foyer.

Do you have piles of bills or other items inside or outside your home that distract from the features of the home and make the rooms look smaller? Consider getting a storage bin if nothing else and clearing the rooms of clutter to show off the beauty and size.

You don't have to spend a lot of money to update if you are willing to put in some sweat equity or pay a professional for a few basic changes. However, if you are unwilling to update your home, it may be time to consider lowering your price so you will remain competitive in today's buyer's market.

Whatever your decision, I will be honest with you if you seek my services. I will assertively market your home if we agree to list it. I will spend my money and resources to market your home. I only ask that you cooperate with me to list it at the best price for you to remain competitive. Happy selling and happy buying to you!

Easy Home Repairs - Three quick tips to spruce up your home

Several home repair suggestions were featured in a recent issue of Chattanooga's Blush Magazine. These are easy handywoman fixes for common problems. Even I can follow the simple instructions to these fixes.

1. Fix a leaky faucet
Turn off the water to the faucet and plug the drain with a stopper or rag. Take the faucet handles off and remove the old washer behind the handles, replacing them with new washers. Replace the handles and screw back on until they feel tight but don't use extra force. Turn the water on to see whether the faucet works properly. If not, you may need professional plumbing assistance. This tip was placed in Blush from wikihow.com.

2. Open a stuck window
Blush quotes hometips.com. Their solution is to wedge a putty knife between the window's sash and frame from the inside. Tap with a hammer to loosen the opening. From the outside of the window, wedge a pry bar between the sill and sash, and apply upward pressure. Work from each corner back and forth until the sash moves up evenly. Once the window is open, chisel built-up paint or residue off the sash edge. Sand the edges smooth if appropriate and apply wax to prevent further sticking of the window.

3. Re-grout tile
Another tip the local Blush Magazine is from move.com. To replace dark or mildewy grout in your tiles, get rid of the old grout first by razoring it with a utility knife or other grout instrument. Use a color for your grout that matches your tile and ask a supercenter attendant if you should use sanded or unsanded grout (you might take a sample). Mix the grout according to instructions, and use a squeegee to apply. Using a damp sponge, wipe off the excess grout. Let it dry and wipe with a clean, damp cloth.

Whether preparing your home for a sale, moving into another home that needs a few fix ups or just spucing up the home in which you want to stay; these tips can make your home more pleasant for you and/or for a potential buyer.

Home Security While You Are Away

Basic steps that may improve your home's security:
> Make your home appear occupied at all times by leaving some lights on or using light timers.
> Ask a neighbor to park one of their cars in your driveway.
> Ask a friend or neighbor to collect mail and newspapers.
> Have a delivery hold placed on mail if no one can pick it up.
> Turn off WIFI and DSL connections to deter identity thieves.
> Use motion sensor floodlights placed out of reach from thieves.
> Forward home phone calls to your cell phone so you can be reached.

There is no certainty that you can prevent thieves from stealing your possessions, but you can lower the chances of break-ins by taking simple precautions like securing your doors and windows or not leaving a spare key for a burglar to find. As always, use good judgment, and weigh the pros and cons in the decisions you make.

Your home is a valuable possession. Enjoy your vacation or allay your fears while away through precautions that lower the chances of a break-in or thieves. And when you decide to sell your home or buy a new home, give me a call. I will be happy to assist you as you buy or sell your home in the Greater Chattanooga-Hamilton County, TN area. Call Pat Branham, Affilliate Broker, Exit Upward Realty at 423-304-5597.

Has your home been on the market too long?

Are you one of those homeowners who has been waiting for 6 months or even a year to be matched with a buyer? You've priced your home competitively, but the magic still doesn't happen.

Consider the importance of first impressions and take the time to prepare your home for a favorable showing.

Try these steps, and see if they make a difference in homebuyer interest:
1. Get rid of that clutter. If you must keep all those knicknacks, pictures, and fake flower arrangements; consider getting a storage unit, and get that clutter out of sight. Move excessive furniture out that is making your home look crowded. Permit buyers to get around and really see your home's features.
2. Think about curb appeal. Is your yard mowed, and are your shrubs trimmed? Is there trash or toys around your home? Clean it up, and give your yard a fresh appearance.
3. Clean house. Make sure the spots are off the carpet, vinyl and tile. Clean countertops, and scrub toilets and tubs. Make your home sparkle!
4. Repair obvious items and some that aren't so obvious. Some buyers climb in the crawl space and attic. Some repairs are simple and quick. Get help from a handyman if you need it, but get your home ready for move-in condition.
5. Assure lighting shows off your home's features. Do you need to paint in neutral colors and take down heavy drapes? The buyers need to envision themselves in your home.

Ask your realtor and friends that have successfully sold their homes for honest criticism. They just might have the hints that will make a difference and move your home off the market and into the right buyer's hands!

Tidy Your Home Quickly for a Better Showing!

Realtor.Org recently posted tips from the Chicago Tribune on how to tidy a home quickly. If you have potential buyers arriving within the hour, bring improved order to a messy home for a better showing to potential buyers. This is according to Julie Edelman, author of "The Accidential Housewife..."

How do you accomplish this within an hour? Try these tips:

1. Target the bathroom. Clean the sink, toilet, mirror and floor with disinfectant wipes. Empty the trash. Use toilet bowl cleaner or drop a denture cleanser into the toilet and let it fizz for 20 minutes - then flush.
2. Salvage the kitchen. Clear off the countertops. Put your dirty dishes in the dishwasher. Spray a clean smelling multipurpose spray on the counter tops and wipe down.
3. Pick up Debris. Get rid of clutter in the living room, and put it in a bag you can hide in the bedroom closet . Sort it out later.
4. Vacuum everywhere.

Oye! Now you have some order in your home, and a clean smelling one at that!

No need to panic if potential home buyers are on there way within the hour. Utilize these tips to show your home in a better light and provide an improved opportunitiy for a sale!

Home Staging for a Quicker Sale and Better Price

Unlike its reputation for being costly, home staging has simple principles, according to the on line site, RIS Media.

The sentimental attraction that owners have to items in their home will often cause them to be reluctant to eliminate items that clutter the appearance of rooms. Staging is about clearing the room and showing floor space. Moving furniture off the wall and leaving some space for pictures (not family photos) is a big part of staging.

Minimizing the amount of furniture is an important part of staging. That means not adding a convenience table next to a chair just so you can put a glass of water there. It means showing off the space.

Staging includes decorating dining tables as if you are preparing for a meal or party. Game tables should show games in action.

Keep TVs off and music soft or jazzy - not strong like rock music. Fresh flowers rather than fake flowers are the rule, and white towels are more effective than colored.

Professional stagers often can use the furniture you already have, but you don't have to use a professional. The goal of staging is to make your home appeal to the broadest range of buyers. This means the buyer should be focused more on the house and its elements that have attracted the buyer.

Furniture placement on a budget

So, you have a new home, but how do you fill up the spaces with your furniture? About.com has some advice on budget decorating and basics of furniture placement.

Make the most of furniture placement of what you have available if you are decorating on a budget. Remember to assure you have room to open doors fully, that you have pathways to other rooms, that the furniture is placed in a way that you get the "feel" you want (i.e. cozy, formal), and that there is flexibility in seating if you want to use the room for entertaining or other special needs.

Some furniture placement guidelines to consider:
1. Designers typically allow 48-100 inches between the sofa and side chairs, but adjust to meet the room size and your family's needs.
2. Normal placement of a coffee table in front of a sofa is 14-18 inches, but adjust for comfort.
3. Allow three feet for traffic spaces, but lots of children or large family members may require more than three feet.
4. An average adult needs 20 inches of depth for a dining room chair plus 16 inches to scoot back the chair from the table but, again, adjust for comfort. To serve guests, you may want to allow 46 inches between the wall and dining table.
5. To get out of bed comfortably, allow at least 24 inches between the bed and the wall and you may want to allow 36 inches between the end of the bed and the bedroom or bathroom door.

Guidelines should be adjusted for your family and are approximate. Allow for your lifestyle too, such as entertaining needs.

To enjoy your home more fully, think carefully about furniture placement!