Tips for Selling a House

As the real estate market returns to a normal pattern of buying and selling, some sellers are easily frustrated. If your house is not selling, here some tips for selling a house.
Tips for Selling a House

Selling a house is similar to a job interview or a first date. Presentation tends to go a long way in determining the outcome. That might sound a bit shallow, but it is simply a fact of life in many endeavors including real estate. To this end, sellers have developed bad habits when it comes to selling their house because of the recent hot seller's market. A few basic tips for selling a house can get you back on track.

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Most real estate comes with a garage. If you have lived in the property for any amount of time, you have undoubtedly stored numerous things in your garage. I have! When the time comes to sell your property, however, you need to give your garage the once over. Items you consider priceless heirlooms might be considered junk by buyers. A messy garage is also a negative. Remember, buyers expect you to have the house in pristine condition. Anything that does not reflect that will hurt you in the eyes of these individuals.

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Undoubtedly, your house has some amazing interior features. Instead of just assuming the potential buyer understands the value of them, you should highlight the features. The best method for doing this is lighting. Make sure you have sufficient lighting in the relevant area by opening drapes or going with more powerful light bulbs. If you have beautiful marble flooring and counters in your kitchen, make sure there is sufficient lighting to make them stand out.

Your lawn is the first thing a potential buyer is going to see when they pull up to the property. Keep it trimmed and cut back any jungles. Give some thought to the walkway to the front door. Planting flowers and such can go a long way.

Make sure the entrance is a positive aspect of your house, not a negative. Make sure the front door is in perfect shape. The entry area should also be focused on. Add plants, rugs and what have you to make a good impression. Next, walk in through the front door and take in the view. Is there anything that gives you pause and can be improved? If so, do it!

Declutter, clean, and organize all storage areas.

The real estate market has cooled to the extent that houses are not selling in three days anymore. Three months is more nearly the norm in many areas. Returning to the basic fundamentals of selling a house is the key to getting the offer you need. These tips for selling a house should help.

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Quick Ways To Sell a House

Every homeowner is looking for quick ways to sell a house. It is just a fact of life and to be expected. Of course, the real question is how you achieve your goal!
Quick Ways To Sell a House

Once you decide to sell your house, you want to move it quickly. That may sound like an assumption on my part, but I have yet to meet a seller who wanted to wait months and months before accepting an offer. Admittedly, they are probably out there, but you are not one.

So, let's cut to the chase with the following tips on quick ways to sell a house.

1. Don't worry about major upgrades. This can be expensive and time intensive. Worry about quick changes that will make major visual improvements. We are talking touch up paint and landscaping.

2. As moronic as it sounds, clean your house! And the garage! And the side of the house you haven't visited in a few years! And the closets! And the garage again! Have the carpets professionally cleaned. Heck, have the entire home professionally cleaned. You want to aim for the look of a model home in a new development.

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3. If you have children, a battle may be required. I am talking about their rooms, the place where few parents are willing to tread. Posters on the wall come down. Now. Beds made, clothes in the hamper. Yes, the closets must even be organized. I fully realize this may sound like Mission Impossible IV, but it must be done. Threats and bribery are highly recommended to achieve the desired results!

4. If you have pets, they belong outside. No, I am not against pets. The issue is their hair on the carpet?the couch...and so on.


5. Smell is one of our senses that figure into our impressions more than we realize. If you are going to be showing the home, get flowers, candles or cook something mouthwatering before the potential buyer arrives.

The above represent common sense tips on quick ways to sell a house. They will help you close that deal, but there is one area that is the key to really moving a house quickly - the price.

How to get Explosive Profits by Establishing the Value of Real Estate

You've located the property that you are potentially interested in purchasing, have looked at it, and determined that it meets your basic investing goals. Before you pat yourself on the back for a job well done, you need to establish its value to avoid potential financial disaster. If you take the word of the seller or the county tax rolls to establish its value, you could lose your shirt, especially in a real estate market that has seen values drop by tens of thousands of dollars within a matter of months.

Depending upon the kind of investor you are you'll utilize one of the three methods of establishing the value of a property. They are:

Comparable Sales – If you're investing in primarily single-family or multifamily properties with fewer than five units, by far the most popular method of establishing value is the comparable sales method. This method consists of locating recently sold properties that are substantially similar to the one you are considering purchasing and are located in the same general vicinity. A skilled appraiser typically has many years of experience in determining value, but you can do the same thing either by going to your county courthouse and compiling the information yourself or by working with a realtor who might be willing to provide these figures to you. You can also get a rough estimate of values in many areas by utilizing an on-line resource such as Zillow.com. Once you have your comparable sales figures you’ll need to compensate for any differences, such as the lack of a garage, fireplace, or even a swimming pool. In order to compensate for the differences in square footage of your subject properties, you can divide the sales prices by the square footage of living space to come up with a cost per square foot.

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Replacement Cost – While not nearly as popular as the Comparable Sales method, another way of determining the value of a property is by estimating what it would cost to re-create the same property in the same area. You would need to determine building costs, the cost of materials, and also make allowances for depreciation of the property so that it is substantially similar to the property you are considering purchasing. If you're experienced at estimating building costs accurately and are aware of the current cost of building materials and supplies, the replacement cost method may be one which you will want to utilize. However, it isn't utilized very frequently. If the Replacement Cost method is one that you'd like to use to determine value, you could very quickly arrive at a figure by contacting a local contractor and asking them how much they would charge you by the square foot to build a home in the area of your subject property. Don’t forget to factor in depreciation to match the condition of your subject property.

Income Valuation Method – The third method of determining the value of a property is to use the Income Valuation Method, sometimes referred to as the Net Income Approach. This method is used to determine the market value of a commercial property or a residential property with more than five units. It’s a relatively simple process. First, determine what the gross income is for the property and then subtract all expenses, including debt service on an annualized basis. Multiply that figure by a factor of ten. The resulting number is about what your property is worth. What’s nice about this sort of property is you can increase its value simply by increasing its net income, reducing operating expenses, or both.

Once you’re able to determine the value of a property you can write an intelligent offer that doesn’t cause you to run the risk of overpaying for a property. Remember, though, that real estate prices are extremely volatile right now, so make sure any properties you use for comparative purposes are recent sales figures. If you have accurate numbers, you can write impactful, precise bids that stand a greater chance of being accepted and allowing you to turn average returns into explosive profits.



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