Selling Your Home in a Competitive Market
Gosh, it's almost spring . . . typically the best time to put your home on the market. With interest rates historically low, we in the Taos and Angel Fire areas are seeing lots of activity for this time of year. Usually our selling season begins in May and ends in November, but 2013 is, real estate-wise, exploding with buyers looking to take advantage of these low rates. And why not? They have no way to go but up.
Seems like this year will see many homeowners entering the selling market. If there is the sales competition we're predicting, what can you do to make your home stand out in a very competitive market?
I know you love your home, and think it's going to be the best out of all of them on the market. You've lived there for years, making improvements: painting your son's room black to make video gaming more exciting; your baby's room looks just so cute with its bunny wallpaper; your daughter's room radiates with tatoo posters on the walls and mood lighting.
So what if the family room looks "lived in" with newspapers strewn everywhere and pizza boxes on the coffee table, right? It's a happy place with happy family memories. The living room carpet is really worn, but you can cover it up with lots of big furniture and area rugs. No one will ever notice. They won't even notice the wet-dog smell that lingers in the carpets. After all, everyone loves dogs, right?
As a realtor of many years, believe me, I've encountered all of the above, and more when showing or listing properties. Especially as a listing agent, I often cringe when showing one of my own properties that doesn't show well. I feel personally responsible for the sloppiness of some of my homeowners. I just want to get in there and fix everything as though I've left the mess and the smell and my own underwear lying around. My mother tells me not to take it so personally. And that's just great. Wonder if my upbringing has to do with some of this guilt???
But enough of the psychoanalyzing. Remember, your home should show as well as possible. Don't you clean the place up before your favorite aunt or the boss or the preacher comes over for dinner? Well, a prospective buyer's first impression of your home is even more important than anyone else's. After all, is the preacher paying you hundreds of thousands of dollars to come over for a meal? No, but a prospective buyer is looking to give you lots of money for a house he or she may fall in love with.
So make that buyer fall in love with your house at first sight. De-clutter, paint in nice, neutral soothing colors, get that dog smell out of the house, for heaven's sake, empty the litter box, put in some inexpensive shrubs and flowers at the entrance for curb appeal.
Remember, there is a lot your listing agent can do to market your home. New Mexico Mountain Properties in Angel Fire and Taos spends the big bucks on advertising. And we're very nice and accommodating to buyers, sellers and other agents in order to sell your home. But as much as we'd like to, we can't just come into your house and take over and do the work for you. You may find that just a bit controlling, and probably downright offensive.
The bottom line is, work with your listing agent to prepare your home for sale. Ask us questions, listen to our suggestions, within your budget, make necessary repairs and improvements to make sure your home has the best chance of selling in a competitive market.
Happy Sales!
Katheryn Pate, Associate Broker, New Mexico Mountain Properties, 575-770-5023