Whatcom Home Stats: February 2009

Selling your Home - How to maximize your Time and Money Invested

As you begin the mental process of selling your house, you may think you need to do this and that to prepare the house to show better in order to attract an buyer.  Well, most often, especially in this market, your #1 attractant is going to be a low price.  There are a few improvements that you should consider that will increase the appeal of the property, but for the most part you should sell as is.  If you can do that and price you property just under fair market value, your going to beat the competition.

As a seller in a buyers market, your goal should be to sell with little investment, for the highest price.  New carpet doesn't equate to be able to ask more than fair market value for a property.  Carpet and flooring should come with a property anyway, why should someone pay more for it.  It's the same with paint, a new roof, and any other esthetic product.  In order for the property to sell for FMV it will need to be up to par, so stick to your budget when making it esthetically pleasing.  If it's not up to par, then you may just want to lower the price rather than spending time and money on things that aren't going to give you a return on your money.

Your house must be price correctly, similar to other homes have sold in the neighborhood within a 1-3 month timeframe.  If it's not it will probably sit on the market until you lower the price.  A home that's priced above market value sits on the market on average of 200+ days longer and usually sells for around $68K less.  Unfortunately, uninformed sellers often choose the Realtor that offers to list the property at the highest price. 

home inspectionsA home inspection will also help in determining where you should spend your money.  Items that come up on a inspection report can make or break a deal.  They're the items that concern the potential buyer the most.  If you have your house pre-inspected you can take care of any of these concerns that might unfold later.  Pre-inspections also attract buyers because some of the fear is taken out of the equation.  Buyers may be more willing to put in an offer if they know the home is sound. 

Landscaping, cleaning, removing clutter, and staging a home will bring the biggest return on investment.  Creating great Curb appeal is the one of the most significant things you can do.  It goes back to making a good first impression.  Is the buyer excited to view the home or do they consider not even going into the property?  What do they see once they're inside is just as important.  A lot of buyers visualize the move in.  Remove your personal items and any other accumilated cutter & the visualization process will be easier for them.

The difference between upgrades and improvements plays an major role in determining where to invest your dollars before putting your house on the market. Improvements maintain a home's value. They keep the home within range of market value.

Upgrades do add value, but the return at time of sale is your concern as a seller. In a buyer's market, it's harder to get a significant return on upgrades.

You're more likely to get a better return you investment by buying a new home in this buyers market.  

Would you like to know what your home is worth? For a free market analysis & consultation of your house, give me a call today.

 ___________________________________________________________________________________________________

About the author: The above Real Estate information  was provided by Tara Camp, an active, full time Realtor in Bellingham, Washington. Tara can be reached via email at tara@taracamprealestate.com or by phone at 360-296-3244.  Looking to purchase an investment property, 1st or 2nd home, or to relocate to Bellingham and/or other Whatcom and Skagit County communities...I can help every step of the way.

Thinking of selling your home? I have a passion for Real Estate and love to share my marketing expertise!

For Bellingham and Whatcom and Skagit County real estate see Bellingham Home Front. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder.

I service the following towns in the Pacific Northwest: Bellingham, Ferndale, Blaine, Lynden, Semiahmoo, Birch Bay, Mt. Vernon, Burlington, Acme, Sudden Valley, and Anacortes.  All areas in Whatcom and Skagit Counties.  Click here to view Tara Camp's real estate profile.

 

Comment balloon 1 commentTara Camp • February 27 2009 01:51PM
Selling your Home - How to maximize your Time and Money Invested
share
As you begin the mental process of selling your house, you may think you need to do this and that to prepare the house to show better in order to attract an buyer. Well, most often, especially in this market, your #1 attractant is… more
1st Time Home Buyers Tax Credit Explained
share
Although the first time home buyers tax credit was ammended from $15, 000 to $8, 000, it's still a nice chunk of change for those folks looking for their first home. Afterall some is better than none… or some that has to be repaid, like the last… more
Marketing to Sell your Property
share
***Assuming that you would consult & hire a Realtor® to Market & Sell your Property (according to National Association of Realtors® 85% of Sellers use a Realtor® to Sell). A Realtor's® main job is marketing. How an agent markets… more
Bellingham Homes - Cornwall Neighborhood
share
Cornwall Park Neighborhood is nestled in the heart of Bellingham. Cornwall Park is best known for its namesake a large, 70 acres park that offers a wealth of recreation. Equipped with playgrounds, baseball fields, spray water park, wooded trails,… more
100% Financing in Skagit County
share
Rural Housing Financing: 100% Financing in Skagit County "The Housing Programs of USDA Rural Development works to improve the quality of life for rural Americans by ensuring that they have access to safe, well-built, affordable homes… more
100% Financing in Whatcom County
share
100 % Financing in Bellingham & Whatcom County Rural Housing Financing: The government is going to give me money for a home? What is this all about? "The Housing Programs of USDA Rural Development works to improve the quality… more
Whatcom County Real Estate - Market Statistics
share
Whatcom County, being the desirous place to call home that it is hasn't lost a whole lot of it's Market Value. According to the January numbers… we've only come down 7% over last years home values. There is a 20% of increase in time that a… more
Bellingham Real Estate - Columbia Neighborhood
share
The Columbia neighborhood is one of the Bellingham's most sought after neighborhoods. The Columbia neighborhood has around 4000 community members with around 1600 single family dwellings. Most the dwellings are craftsman style featuring front… more