Marketing Your Home (continued)

selling is as simple as planting a "for sale" sign in their front yard, smart sellers follow a traditional marketing approach which includes: preparing the product for sale; determining a price based on supply and demand, and targeting the right buyer.

This article will take you through each step.

Whether it’s the toys your children don’t play with, or that box of old bowling trophies you can’t quite bring yourself to throw out, most people have experienced the clutter dilemma. Naturally, such keepsakes propose a major challenge while selling because it’s your job to make the house look as spacious and appealing as it did when you moved in. To do this, options may include: yard sales, donating old clothes, or even a trip to your local recycling center. Getting your home ready for show involves more than just a simple once-over with a vacuum, dust rag and a bottle of Windex. Buyers are looking for something that is both homey and spacious. Here is a sampling of ideas that will help you achieve this goal.
* Experiment with different furniture arrangements in each room. What set-up makes the room look bigger?
* Rearrange and organize every closet.
* Update your home’s colors, styles and fixtures. Burnt orange wallpaper may have been hip 25 years ago, but today it could scare some people away.
* Here’s a no-brainer: rid the home of all unpleasant odors.
* Clean not just the main rooms but everywhere. Unlike the average guest, buyers will have a keen interest in seeing your basement, attic and garage.
* Store all knickknacks out of sight. You may be proud of your salt and pepper shaker collection, but some people find such displays unsightly.
* Invest in new shower curtains.
* While showing the home, small subtle details such as setting the table, lighting the fireplace, placing opened books on the coffee table, and playing gentle music on the radio provide for a pleasant, homey atmosphere.

As far as the outside of your house is concerned, Realtors like to use a term called "curb appeal" to describe the perceptions people form after seeing your home for the first time. Believe it or not, minute details such as a rusty mailbox, unclipped hedges and the absence of planted flowers can leave a lasting first impression. For this reason, you should pay greater attention to the outer look of your home than normal. Usually the first order of business is a fresh coat of paint. Other simple improvements such as a porch swing, hanging plants and wicker furniture work well to provide your home with a charming, inviting look. Also, remember to service your roof and gutters, as they too will be inspected carefully.

One last thing to consider: although you should take great strides to present your abode with a "down-home" feel, don’t overdo it. "Ginger breading" your home, or making it look too cute, can turn people off. Buyers want to envision their concept of a perfect home...not yours.

What Is Your House Worth?
Answer: As much as someone is willing to pay for it. Obviously, the process isn’t that easy, especially for those selling their home for the first time. For most, the longer people spend in their home, the harder it is to determine its worth. Why? Because of their emotional attachments coupled with them being out of touch with the market. For this reason, a Realtor may also recommend acquiring the services of an appraiser. Ordinarily, the first question they’ll ask is: What improvements have you added onto your home since moving in? In most cases, such home enhancements as new roofs, decks and additions instantly increase the value of your home, but there are some exceptions. Unconventional personal touches may mean a lot to you as an individual, but buyers may not be as impressed. For instance, a car nut may build a huge garage to house his auto collection thinking such an addition will make his home even more handsome. But the common response from potential buyers will be: What am I going to do with a ten car garage?

When Realtors determine the asking price for a home, they will look at the "comps" or the price of "comparable" homes in the area. And it can’t be stressed enough, the key word here is "sold," not "listed."

Another strong indicator of your home’s market value is the "migration" trend, or whether or not people (and businesses) are moving in — or out of a community. Indeed, supply and demand play heavily when using such statistics. For example, as population and commerce surge in a community (remember Atlanta several years ago?) demand for homes will drive prices up. Just as when growth slows and unemployment rises, people migrate away, and home prices flatten or even drop. An excellent source for this information can be found at the local chamber of commerce.

What Gives? My House Isn’t Selling
Don’t panic. If your home is still on the market after six months, you’re most likely listing it too high.

One popular tactic used by inexperienced sellers is purposely overpricing their property, and then dropping the price if it doesn’t sell. Although some people find success with this method, Realtors advise against it.

"A high price conveys the message that the seller may not really be interested in selling," says a Prudential real estate spokesperson. "And when a home is priced too high, agents and buyers usually just cross it off their list and move on."

Statistics show that the first 30 days are the most crucial after placing the home on the market. It’s during this time when a majority of buyers see the property and interest is highest.

Another common selling mistake is putting too much faith in the counter-offer. For example, sellers will list their home on the high side expecting to field counter-offers from each interested party. While some house hunters do this, a good number of qualified buyers may deem your property as "out of their range" and continue looking. All things considered, an over-priced listing usually results in one thing ~ a faded and tattered "For Sale" sign.

The Final Touches
You’ve fixed up your home for the sale, settled on an asking price, now it’s time to swing the front door open and invite buyers inside.

One popular method to keep your house fresh in the mind of shoppers is to assemble a listing sheet. This easy to read document is packed with important details of your house. The point is to keep your home and its amenities fresh in the minds of buyers.

Among other things, the listing sheet should include:
* Address and ZIP code.
* Square footage of the home and lot size.
* Year the home was built.
* Amount of the last property tax bill.
* Number of bedrooms and dimensions.
* Number of bathrooms and dimensions.
* Amenities such as central air, fireplace, attic space, sun porch, swimming pool, basement, hardwood floors and walk-in closets.
* A list of all appliances and other fixtures that will remain when you move (e.g. light fixtures, washer and dryer).
* Description of garage or parking space.
* Approximate distances to all ground transportation.
* Distances to parks or recreational areas.
* School districts, with names and addresses of all schools from elementary to high school.
In addition to the informational details, a picture of your home provides a warm finishing touch to your listing package.

All in all, when the time comes to break camp and move on to the next chapter in your life, a smooth sale awaits for those who follow the classic marketing rules.