Sen­si­ble tips for a quick sale

The Palm Beach Post - Residences - - Front Page - Smart 57

De­spite its pre­dic­tion of “mea­ger” eco­nomic growth in 2016, the Na­tional As­so­ci­a­tion of Realtors is fore­cast­ing a mod­est in­crease in home sales for the year, along with slightly ris­ing prices. But the em­pha­sis is on the “slight.”

“This year the hous­ing mar­ket may only squeak out one to three per­cent growth in sales,” Yun says.

What does this fore­cast mean for you if you plan to sell your place this year? That de­pends on vari­ables spe­cific to your lo­cale, says Eric Tyson, a per­sonal fi­nance ex­pert and co-au­thor of “House Sell­ing for Dum­mies.”

“You’ve got to get in­tel­li­gence on the ground spe­cific to your neigh­bor­hood,” Tyson says.

He rec­om­mends you gather pric­ing opin­ions from at least three real es­tate agents who have a mas­tery of your mar­ket. Also visit other prop­er­ties for sale in your same com­mu­nity to com­pare pric­ing and fea­tures, Tyson says.

Ron­ald Phipps, a real es­tate bro­ker who’s been in the busi­ness since 1980, un­der­scores the im­por­tance of clean­ing, de-clut­ter­ing and re­paint­ing to make the most of your sale.

Even so, Phipps, a for­mer pres­i­dent of the Na­tional As­so­ci­a­tion of Realtors, warns against ex­ces­sive spend­ing on pre-sale up­grades.

“When pick­ing home im­prove­ments, you want to be prag­matic and prac­ti­cal,” he says.

What com­monly hap­pens is that own­ers who try to re­coup the cost of ex­ces­sive pre-sale im­prove­ments find the price they’re de­mand­ing too high. Be­cause of that, their prop­erty will likely lan­guish un­sold for a lengthy pe­riod un­til they take a price cut.

Point­ers for sellers:

1. Re­quest a check­list of sug­gested im­prove­ments from your list­ing agent

“Be­fore you sell, the key is to dis­tin­guish be­tween changes that give you a big bang for your buck and those that sim­ply rep­re­sent money burned,” Tyson says.

To come up with a fo­cused plan for pre-sale im­prove­ments, he urges sellers to ask their agent for a writ­ten check­list.

Tyson also sug­gests that bud­get-con­scious home sellers con­sider se­lect­ing an agent trained in the art of “stag­ing” a home — ar­rang­ing fur­ni­ture and decor to show the home in its best pos­si­ble light.

2. Let go of any plans for a pre-sale ad­di­tion

For most sellers, it’s not cost-ef­fec­tive to knock out walls to build an ad­di­tion,” Tyson says.

He says those who at­tempt a pre-sale ad­di­tion rarely re­coup more

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.