For questions concerning
BRAC, please contact the
Redstone Arsenal
BRAC
Support Operations Center
[or,
BSOC ]
at (256) 876-2065 or (256)
876-4084.
Want to “Go Green” and/or
Save lots of Energy (and
money!) this Spring?
Huntsville Utilities offers
free Energy Services to all
of their customers:
1) Home E-valuation
2) New Homes Program
3) The Efficiency Program
For more information about
Huntsville Utilities and all
of their Services, visit
their website online at
www.hsvutil.org. Or you
may call Huntsville
Utilities at (256) 535-1200
and Toll free at (866)
478-8845.
Top 10 selling strategies
for a Buyers market
You've got to be proactive
on price, marketing and
more. Here are 10 steps to
take before you put that
sign in the yard.
Now, for most houses in most
parts of the country, it's a
buyer's market. That means
that more houses are for
sale, there are longer
stretches on the market, and
prices have slowed,
plateaued or, in some
places, decreased.
Homes are staying on the
market for about four
months, according to the
most recent averages from
the National Association of
Realtors and our local MLS
board.
If you plan to plant your
"for sale" sign, here are 10
things you can do
beforehand:
1. Recognize every market is
different.
Your state, town or
neighborhood could dovetail
with national numbers or
buck the trend entirely.
There really is no national
market, there’s a patchwork
of regional markets. Never
rely solely on one person's
advice or opinion. Talk to a
professional, do your own
research and listen to your
gut instinct.
2. Get your home inspected.
"Before I would even call a
real-estate agent, I'd have
my home inspected," says
attorney Diana Brodman
Summers, author of ‘How to
Buy your First Home’. Some
real-estate agents advise
against spending the money
(basic inspections range
from $300 - $400), because
the buyers will get one
anyway prior to closing. We
at the Amanda Howard Real
Estate group recommend it
because it gives sellers an
early warning on any repairs
they might have to make.
In this market it's better
to be proactive. I would
rather know what the
inspector is going to find
and be able to fix it -- and
pick who will fix it. This
method also allows you to
shop around for the best
price instead of perhaps
paying an inflated price
later on.
3. Shape up before
marketing.
A buyer's market means
you've got more competition.
You want to put your best
foot forward, If your home
isn't appealing and in good
repair, potential buyers
won't even stop. Some
sellers think it's OK to
skip this step and take
less, but if the house is
not appealing, you may not
get the chance to negotiate.
Six weeks before you want to
put it on the market is a
great time to get it done.
You don't need to renovate,
but make sure everything
looks good and works well.
Easy ways to make your home
stand out:
-
New paint.
Paint the whole house,
if it needs it, or just
the trim, eaves,
shutters and door to
freshen up.
-
A clean entryway.
Sweep and pressure-wash
the front walk and
porch. Polish the
outdoor metalwork, clean
the windows and glass,
and replace any
burned-out bulbs in
outdoor lighting. And,
if you can, add planters
with flowers.
-
Lush landscaping.
Think new mulch, sharp
edging, a healthy lawn
and beds of flowers.
Maximize your chances of
people being excited about
your listing when it hits
the market.
4. Devise a marketing plan.
Do you want to use a
real-estate agent or would
you rather sell it yourself?
If you try doing it
yourself, set a time limit
after which you want to
enlist the aid of a
professional. Selling it
yourself can save you the
real-estate commission
(usually about 6 percent),
which can be an advantage in
a sellers market. But in a
buyer's market -- or rapidly
changing market -- it can
help to have a little
professional expertise to
price, market and move your
property. And don't forget,
potential buyers may think
that if there's no agent
involved, the price should
already be 6 percent less.
Both buyer and seller can't
save the same 6 percent.
5. Check into company
relocation assistance.
Are you moving to take a new
job? If so, the company
might offer resources to
make selling your house
easier. If they do not, We
do! Call us and ask us for
our list of recommended
professionals in the area
you are moving too. If
you're selling in a tight
market, or moving to an
unfamiliar every little bit
of advise helps.
6. Ask the right questions.
When you interview a agent
early on about listing your
home. Ask them for their
advice, that’s a good way to
select an agent. What would
they highlight about your
home? What would they change
before it goes on the
market?
Ask to see an activity list
-- a list of all the buyers
and sellers they've
represented, the areas of
town and the price ranges.
You don't want private
details, but you want to see
if they've worked in your
neighborhoods area, in your
price range and if they have
a track record of successful
sales.
How old are the comparable
sales (often called "comps")
they are showing you? A few
years ago, you could study
comps that were six months
or a year old. This year,
because many markets are
changing, you want
neighborhood comps that are
no more than three months
old.
And find out how long each
has been a professional.
Experience counts. Also ask
what makes their services
different, then every other
agent.
If you’re not happy with any
of the answers above, it
does not hurt for you to
interview another agent. You
need to feel comfortable
with your decision.
7. Set a sales price.
The rules are different in
soft or changing markets.
You don't overprice your
house 20 percent to leave
wiggle room for negotiating.
That kind of strategy might
never be a good idea, but it
can really backfire in 2007
and 2008. It's not a matter
of being willing to
negotiate. If your price is
too high, potential buyers
may not even look at it. And
they may very well see a
negative message in such a
high price.
Those who overprice their
homes in today’s market are
wasting everyone's time.
You need to contact a Real
estate agent to get your own
comps – checking the local
paper, and sites such as
Zillow.com and Realtor.com
-- to see how similar houses
in the area are priced may
tell you what they currently
asking for, but this doesn’t
tell you how LONG they have
been trying that price, nor
do these resources tell you
what the homes finally sold
for. This is why the help of
a real estate professional
is your best resource for
accurate pricing.
Then set a realistic figure.
Your goal: to maximize the
chances that the perfect
buyer will actually see it.
To get an idea of what's
going on now, you want
recent comps. But you may
also want to look at
comparables from the past
six months. "You will see
trends". Are properties
moving? Are prices holding
steady or are sellers
dropping prices?
Pricing is strategy. And
much of it comes down to
just how motivated you are
to sell -- or how quickly
you have to leave.
If you plan to pad the
price, plan carefully, 5 to
10 percent is one thing. 15
to 20 percent and you have a
problem.
Two more points to consider:
-
Modern technology.
Agents and buyers are
using computers to
search for properties.
If you want to sell
yours for about
$500,000, consider
listing it at $499,999
rather than $500,500.
That way, a computer
search of anything
between $450,000 and
$500,000 will include
your listing.
-
Beware of hidden
financing costs. Not
all financing is the
same from a seller's
point of view. With some
types of financing, such
as FHA and VA home
loans, the seller pays
the points on the loan.
Understand the different
types and what will be
required of you as a
seller, because that
could affect how much
you net in a sale.
8. Understand your price.
While you don't want to
undervalue your house, many
sellers today won't make as
much as some neighbors who
sold early 2007. If you have
your heart set on a certain
amount and find out that
houses aren't selling for
that, you may have to A.)
Change your mind and sit on
the house or B.) Consider
Lease/Option or Seller held
financing options to make a
differential advantage for
your higher price, or C.)
Rent your home out and
re-evaluate the market in a
year.
9. Remove the junk and knick
knacks.
This is always important but
we are noticing buyers are
getting fussier and less
imaginative with what a
space has to offer. Throw
things out, ship them early
or rent a storage locker.
But clear out that clutter.
Buyers look for space and
light. To show it off, you
need to be able to tour a
group comfortably through
the house, as well as
actually walk into those
"walk-in" closets, and kids
rooms.
10. Stay on top of the
market.
You must be aware of market
changes. Another reason I
recommend using an agent.
Stay on top of what is
happening with mortgages and
finance rates, keep looking
at comps and see trends
before they happen. The
real-estate market is still
in a time of correction and
transition. You have to be
so careful with both buying
and selling.
