Donna Yates, Move 2 North Georgia.net: Competition is Killer - Tips for Home Sellers to Gain an Advantage

Competition is Killer - Tips for Home Sellers to Gain an Advantage

Competition is killer when it comes to a private owner trying to sell a home in today’s market. The dynamics of most markets can be quite challenging, even for the most attractive home. It is, afterall, a buyer’s market. Between most Americans wanting or needing to cut back on spending and lots of homes to choose from, many buyers are demanding move-in ready homes, meaning no need for costly home improvement projects.

 

With so much inventory currently on the market and shadow inventory to come, buyers are not having any trouble finding the home that they like without having to compromise. There’s no motivation to a buyer to purchase a home by having to put a large down payment plus closing costs, secure a loan and then spend more moola to improve the property just purchased.

 

 

DIYThat’s why sellers are realizing that taking care of home improvements before they go to market is a smart strategy. Even getting a home inspection first and making sure any defects/repairs are taken care of up front. With a little vision and design, select finishes and products that welcome the broadest possible range of buyer likes. The seller must see his/her own home through a buyer’s eyes and get past any emotion or feelings that your home is the best home on the market.  Here are a few home improvement projects that pay back at the time of a sale:


 

Curb appeal is a huge step in attracting buyers. Install a high-quality, energy efficient entry door. CurbEntry Door appeal is the first impression a buyer gets so make sure the appearance of your home will stay in the mind of the prospective buyer even after the buyer has seen 10 or 15 other homes. At the end of the day, you want that buyer to remember your home. Browse through home improvement magazines to get inexpensive ideas. At the very least, make sure the appearance is very neat and very clean. Don't just have a mat that says welcome, but make the buyer actually feel welcomed.

 

Build a deck! Believe it or not, this is one of the least expensive ways to beef up your home’s appeal. Use low maintenance and eco-friendly materials if the budget allows but even pressure treated wood will add value. The added extra living space can result in up to an 80% return on your investment. Creating a nice outdoor space is an excellent feature for buyers. There is a multitude of landscaping ideas on the internet and in magazines that won’t break the bank.

 

The kitchen, ah yes the kitchen! A huge selling point and can make or break a sale. Don’t underestimateHome Improvements your kitchen’s appearance and here’s one place you want to be sure is squeaky clean. Replacing old countertops does not have to be expensive. Yes, it’s true, granite and stainless steel is all the rage but there are plenty of other design choices that can make your kitchen shine. Cabinet hardware can be an inexpensive way to dress up your cabinets. Light up your kitchen by just replacing bulbs.

Install replacement windows but at the very least make sure your windows are clean. Let the sun shine in! Replace older windows with more energy efficient ones. A seller might be able to benefit from any energy tax savings and a point to be made to a buyer is how they will save on energy bills. The energy efficiency of a home is an important aspect in today’s environment. Look for other inexpensive ways to improve the energy efficiency in your home.

Make the most of your basement or attic space. Buyers want lots of storage space so clear out the clutter in your attic. Help a buyer see the valuable storage space an attic has to offer. Turn your basement into an office, apartment or recreation room. There are ways to do this without it costing a fortune.

 

Bathroom RennovationAs important as the kitchen is in a home, the bathroom may be even moreso. Bathrooms tend to age easily, so keep the décor netural so it will appeal to the highest number of buyers. Install efficient fixtures and hardware. Paint can go a very long way and is one of the most least expensive ways to dress up a room. As with the kitchen, make sure your bathroom is squeaky clean. There are plenty of bathroom renovation ideas in magazines so check them out.

 

Many of the homes in the North Georgia Mountains are total electric with propane gas for gas logs. Although it’s not a huge problem in our area, still, when the power goes out, it’s essential to have a backup system for your home. Consider installing a backup generator. They can now be installed right next to the AC unit and repower a home within seconds of losing electricity.

 

Adding extra living space that won’t price your home out of the local market can be a valuable homeRoom Rennovations improvement. If it's too costly to add an extra room, consider taking existing space that is not being used to its maximum potential and convert it into truly useable and functional space. Maybe your home is not large enough to dedicate an entire room for an office but more than likely there is space in your home somewhere. Perhaps a room that can serve double duty, or a corner that can be converted into something more useful. (OK, I just threw that picture in for grins ! )
When remodeling, don't forget the proper permits.

 

If some of these ideas are just not possible to do, then keep in mind that paint can go a very long way in making a home look and smell fresh. Keeping colors neutral is so important when trying to sell. Some buyers really do have a hard time seeing past a red living room, purple bedroom or pink bathroom. Not every room has to be white or beige but do go with colors that will appeal to the majority. It doesn’t cost anything to de-clutter except a little time and maybe sweat. Clear countertops, put away small appliances, organize closets and remove the majority of your personal items.

Remember to view your home, not through your eyes, but through the eyes of a buyer. Don’t take offense to feedback from a buyer’s agent, instead, see the information as a useful tool to be used so you can gain an advantage over your competition.

The North Georgia market is a very opportunistic market for buyers and sellers. Here you will find affordable land and cabin packages and super buys for lake, river and creek front homes.

When do you think you will be making your next real estate move?

Call, Text or email Donna Today ! 706-633-0644
www.move2northgeorgia.net

Visit Facebook - North Georgia Blue Ridge Mountains or Donna Yates Real Estate

 I welcome all comments but if you spam or blatently self-promote, your comment will be deleted.

 

Donna Yates
Associate Broker, GRI
706-633-0644 Mobile
Serving North Georgia Mountains and Metro
Metro Brokers - Better Homes and Gardens Real Estate
706-515-7500 Office

MOVE 2 NORTH GEORGIA - HOMES FOR SALE

SEARCH GEORGIA HOMES FOR SALE

 

 

 

 

Comment balloon 19 commentsDonna Yates • August 23 2011 08:37AM

Comments

Great post. I have clients not willing to paint thier house to get it sold...I wish they would listen to me.

Posted by Linda Edelwich, Glasotnbury Office's #1 Top Producing Agent-not on (William Raveis Real Estate) about 7 years ago

Linda: I'm always amazed when people who hire professionals won't actually take professional advice.  Paint is such an easy and inexpensive fix.  All we can do is give them our best advice and it's up to them whether they follow it or not but in the end, they only have themselves to blame.

Posted by Donna Yates, Blue Ridge Mountains (BHGRE - Metro Brokers) about 7 years ago

Great post Donna and hopefully home owners out there are taking your advice. In this market they need every edge and addressing these items will make the difference. The cost of preparing your home for an offer is always worth a little time and money when you get that contract and close. We're re-blogging and suggesting this one.

Posted by Lee & Carol Barbour, REALTORS, Mountain Living Team in Murphy NC and North GA (Murphy and Hayesville, NC; Hiawassee, Blairsville, Blue Ridge GA and Copperhill TN) about 7 years ago

Hi Carol: Thank you very much for re-blogging and suggesting; I really appreciate that.

Posted by Donna Yates, Blue Ridge Mountains (BHGRE - Metro Brokers) about 7 years ago

Donna,

I'm with Lee and Carol in suggesting your post. Your information is right on target.

Best,

Steve

Posted by Steve, Joel & Steve A. Chain (Chain Real Estate Investments & Mortgage, Steve & Joel Chain) about 7 years ago

Steve: Thank you most sincerely and I mostly appreciate you visiting my posts. 

Posted by Donna Yates, Blue Ridge Mountains (BHGRE - Metro Brokers) about 7 years ago

Most sellers don't seem to appreciate that they are in competition with the rest of the market. Their house won't sell until it is the best one available in the marketplace.

Posted by Brian Madigan, LL.B., Broker (RE/MAX West Realty Inc., Brokerage (Toronto)) about 7 years ago

Hi Donna, well done  on this post. A lot of this stuff is common sense and good advice offered to actually assist the client.

Posted by Sandy Acevedo, RE/MAX Masters, Inland Empire Homes for Sale (951-290-8588) about 7 years ago

Brian: A lot of truth to whay you say.  We have to help sellers get past the emotional attachment to their home in feeling that it's the best one out there and show them their competition, not just tell them about it.

Sandy: Yes, I agree.  As in life, most things are just common sense but how lacking is common sense these days, unfortunately, more often than not.

Posted by Donna Yates, Blue Ridge Mountains (BHGRE - Metro Brokers) about 7 years ago

I just want to give a special thanks to

Lee & Carol Barbour, Realtors® Murphy, NC Homes For Sale (Mountain Living Team - Coldwell Banker High Country)

Chain Real Estate Investments & Mortgage, Steve & Joel Chain

who suggested this post to be featured and re-blogged.

Posted by Donna Yates, Blue Ridge Mountains (BHGRE - Metro Brokers) about 7 years ago

Very good tips, thanks for sharing.  In addition to appeal to potential buyers, these improvements you suggest will go a long way in the eyes of an appraiser.  As appraisals are tough as there is a lack of comps, wowing the appraiser will also make it easier to satisfy the appraiser especially when many buyers are unable to put up huge down payments.

Posted by Ira Bodenstein, NMLS#: 445143 (PNC Mortgage) about 7 years ago

Ira: Excellent point.  Thank you.

Posted by Donna Yates, Blue Ridge Mountains (BHGRE - Metro Brokers) about 7 years ago

An interesting blog post that I enjoyed reading! Thank you for sharing it!

Posted by Sarasota & Manatee Counties FL, QuickFreeMLS.com - Listings In Paradise (SaraMana Properties - QuickFreeMLS.com) about 7 years ago

Donna - Paint is one of my favorite recommendations.  It's inexpensive, makes a big difference and makes the home feel clean.

Posted by Christine Donovan, Broker/Attorney 714-319-9751 DRE01267479 - Costa M (Donovan Blatt Realty) about 7 years ago

Great suggestions on making a home more sellable. I couldn't agree with you more... in this buyer's market staging a home is more vital than ever.

Gretchen

Posted by Mel Ahrens, MBA, Kelly Right Real Estate, Customized Choices for your Real Estate Needs (Kelly Right Real Estate) about 7 years ago

Nice tips Donna, as soon as my guys put in a new driveway the home sold!

Posted by Delaware Junk Removal Residential And Commercial Hauling Clean Outs, Whole House Clean Outs, Basements, Garages, Attics (Delaware Junk Removal 302-530-9186) about 7 years ago

Decks and kitchens -- that is great advice. And so is fixing up bathrooms. Other renovations rank lower in my opinion, 

Posted by Erica Ramus, MRE, Schuylkill County PA Real Estate (Erica Ramus - Ramus Realty Group - Pottsville, PA ) about 7 years ago

John Michailidis - Thank you.

Christine: Agreed.

Mel  Gretchen - Staging is another good idea for seller's to consider. Sometimes if really is best to leave it to the pros.

Erica Ramus - As agents, we know just how crucial kitchens and bathrooms are to selling a home.

 

Posted by Donna Yates, Blue Ridge Mountains (BHGRE - Metro Brokers) about 7 years ago

Larry - Thank you for your comment.

Posted by Donna Yates, Blue Ridge Mountains (BHGRE - Metro Brokers) about 7 years ago

This blog does not allow anonymous comments