he most important thing you can do to sell yourhome in today’s market is price it accordingly.Sellers often have difficulty doing this; because of their emotional attachment to the property, they tend to place ahigher value on their home than a typical buyer would. But thehigher the price of your home, the more you limit your group of potential buyers. You need to consult your REALTOR

and heedtheir advice to make sure your property is priced according tomarket conditions. If you feel strongly about not accepting anyoffers below your asking price, then you will need to exercisepatience while waiting for the right buyer. On the other hand, if

The current housing market is still very much abuyer’s market. In the Richmond metro area,inventory has decreased but still remains adaunting obstacle for anyone who may beconsidering putting their home up for sale.With so many homes on the market these days– often in the same neighborhood or even on the same street – making your home stand out and attract attention from potential buyers ismore vital than ever.

Survival Strategies for a Changing Market

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you need to sell your home quickly, your asking price shouldreflect that. Overpricing leads to price reductions andincreased time on the market, which makes the sellingprocess difficult for both the homeowner and the listingagent, and reflects poorly on the property.A home’s value is essential – not only are today’s buyers lookingto get the most for their money, but they want their new hometo be in move-in condition. When pricing your home, take alook at similar properties on the market and compare theirfeatures. This will give you an idea of what improvements youshould consider making before listing your home. If you areworking with a limited budget, you will need to decide whatrepairs or renovations are the most important, and where youcan stretch your money. The following tips are a practicalguide to upgrading, staging, and preparing your home forsale. With a little legwork and preparation, you may find thattaking steps to enhance your home beforehand will give abetter impression, attract more buyers, and decrease yourhome’s days on market.

The Importance of Curb Appeal

In today’s market, sellers simply cannot underestimate thevalue of curb appeal. With so many homes to choose from,you must make a positive impression on the outside if youwant a potential buyer to consider stepping inside. Whenyou’re looking to spruce up your house before putting it onthe market, start with the outside:•Apply a fresh coat of paint in a neutral color. If you cannotafford to paint the whole house, simply touch up the frontof the house and garage doors. Power washing may alsohelp improve appearance if you have siding.•Check your roof for broken or missing shingles and cleanout gutters.•Wash the deck and reseal if necessary.•Update light fixtures.•Repair cracks in the driveway.•Keep trees, bushes and shrubs trimmed and watered.•Depending on the season, make sure the lawn is mowed,leaves are raked or snow is shoveled.Curb appeal not only plays a huge role when it comes to sellingyour home, but it reflects on you as an owner. You should wantbuyers to see the outside of your home and be impressed. If yourhome’s exterior looks unkempt or outdated, buyers may assumethe same is true inside. You only have one chance to make a firstimpression, and you need to make the best impression possible.

Staging Your Home

Home staging is becoming increasingly popular amongtoday’s sellers. Staging highlights the home’s positive attrib-utes, and works to the seller’s advantage by creating an envi-ronment that allows buyers to visualize the space as theirown. Staged homes typically make a better impression, andthus have been found to sell for more than comparable homesthat are not staged. Any homeowner can complete simplestaging by doing the following:•Eliminate clutter – having less in a room makes any spacelook bigger.•Paint walls a neutral color, and “depersonalize” as much aspossible – remove family photos, large pieces of art, andother distracting decor.•Rearrange furniture to open up space in the rooms, or renta storage unit for large items if necessary.•Open curtains and blinds – natural light also makes roomsfeel larger.•Hide valuable items, prescription medications, and privatepapers such as bills in a secure place.For more complex staging, many sellers are turning to profes-

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sional home stagers for guidance now that the market is slower.According to Patti Earley-Carter, a local REALTOR

and theowner of SHOWbiz, a home staging company, “Business isbooming, and I expect that it will continue to grow as sellers andother REALTORS

realize the value in staging.”SHOWbiz regularly furnishes and decorates both spec homesfor builders and vacant homes for resale. Staging is essentialin these circumstances, because buyers are looking to con-nect with a place that “feels like home,” and staging createsthat effect. “In addition to painting and decluttering, stagingis one of the most cost-effective marketing tools a sellerand/or REALTOR

has” says Earley-Carter. “A home that isclean, staged, and priced right

will

sell.”

Basic Home Repairs

During the process of staging, it may also be necessary tomake some basic repairs to your home’s interior. Potentialbuyers will expect everything in the house to be in goodworking condition, and any problems need to be fixed beforebuyers ever see them. Before making repairs, you may con-sider getting a home inspection. As a seller, it is not yourresponsibility to conduct a home inspection, but it gives youthe opportunity to uncover potential problems and fix thembefore listing your home. Even if you do not opt for aninspection, there are several cost-effective repairs to consider:•If you have hardwood floors, cleaning them may removeany scuff marks or scratches. You may even considerhaving the floors refinished.•The two rooms that need the most attention are thekitchen and bathroom. If you cannot afford new fixtures,having your kitchen and bath fixtures refinished is acheaper alternative.•Have carpets, drapes and furniture professionally cleanedto remove any traces of odors or stains.•Service major systems, such as the air conditioner,water heater, and sump pump.Your REALTOR

will also have advice about what repairs youshould consider to make your home more marketable. Letyour agent’s experience be the voice of reason and heed anyrecommendations they have for improvements that buyerswill be looking for.

The Value of Renovation

In some cases, simple repairs will not be enough, and a largerrenovation may be necessary. Renovating a home takes moretime and money, but in some instances it will be essential tocompete in the current market. This will largely depend onhow old your house is, what features it has currently, and whatcompeting properties have to offer that your house does not.You may be wondering if it is really worth the time, money,and labor to undertake a renovation. While this largelydepends on the type of project, most exterior upgrades suchas replacing siding or windows, or adding a deck have a highreturn value on investment. Minor kitchen remodels andbathroom upgrades also typically prove to be worthwhile.Calculate the cost of the project compared with how muchyour home’s value will increase once the renovation is com-plete before making a final decision. If you are facing theprospect of renovating, these general guidelines may helpyou in planning:•Consider how long renovations might take. You maybe looking at several months of upheaval - and thinkabout the inconvenience of not having a functionalkitchen or bathroom for an extended period of time.•Make your choices with buyers in mind – neutral colors,stainless steel appliances, and granite countertops areusually well-received.

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