The real estate market is rolling along and homes are selling. If you are in the market to buy a home, sell a home or are simply watching trends in your area, you are probably seeing a mixture of some homes that sell and some that don’t. I have had regular conversations with clients who comment on homes they are seeing on line that were there 4, 5 and 6 months ago.
However, homes in the Portland area are selling and if the proper steps are followed, yours can sell to. Here are 5 things to consider if you need/want to sell quickly:
1. Price in Front of the Competition
Selling a home in a down market almost inevitably means settling for a disappointing price. To move your home you ![Prep_Home_Intro[1]](http://steveschwabgroup.files.wordpress.com/2009/07/prep_home_intro11.jpg?w=150&h=111 "Prep_Home_Intro[1]")
may need to price your home 10% to 15% below what comparable homes in your neighborhood recently sold for. You still may not be able to compete with the foreclosures or short sales in the Portland area, but at least you will have a chance. Recent experience has shown me that when a listing is priced correctly, although it may still procure a low original offer, that the buyer is usually willing to come up and usually to a point very close to the asking price. I always prepare a seller for a low initial offer when we go on the market. I simply explain that the buyer doesn’t know that you won’t accept the offer so they feel it necessary to try. When we respond with a fair counter offer and explain that we are serious but not desperate, we usually find ourselves in an accepted position.
2. Outside Fixes Have The Largest Impact
Since your home will not be cheaper than the distressed property down the block or across the street, it has to look far better. You may not have the cash on hand or the time to remodel the Kitchen or Bathrooms, so focus you attention on cosmetic improvements that will bring the most buyers to your door. Remember, good marketing has the impact of getting as many eyeballs as possible on your home. We both have ownership in that objective and yours is to make the place look appealing. Spending as little as $1,000 can go a long way to improving your homes exterior. You 
should consider having your home power washed, maybe paint the front door, clean the moss off the roof, or simply freshen up your landscape.
3. First Time Home Buyers Are Your Friends
Today probably the best way to market your home is to target First Time Home Buyers. In the U.S. this year, first time home buyers are probably responsible for 50% of homes purchased, largely due to the First Time Home Buyer Tax 
Credit. Another reason this category is out there in numbers is that they don’t have a home to sell so there is very little stopping them from jumping into home ownership. Here is a secret. If you are active on sites like Twitter, Facebook, etc, make sure your agent is giving you a link you can post yourself so your friends, family and others can see what you have to offer. Let them know about Open Houses, Price Changes, Ammenties, etc.
4. Online Tips Will Make Your Home Pop!
Buyers are faced with thousands of listings every time they go to their computer. Make sure your Agent/Broker is using key words that will get the publics attention. Key words can be: Deck, Pool, Granite, Remodeled, New Windows, and more. I see listings all the time that frankly read very boring. Nothing in the dialog reaches out and says “come see me NOW”. Make sure that lots of pictures are used and the are taken with logic. What I mean here is counters should be clear, toilet seats should be down and certainly make sure that solid yellow line in the street doesn’t show. Then the price should be positioned logically. For example, don’t set a price at $399,900. Why? Let me ask you; when you go to the Internet, how do you search for properties when price is a factor. What I’m getting at is prices are usually in $50k increments. People may search $350,000 to $400,000 and they may search $400,000 to $450,000. You should price your home at $400,000. That way you show up in both search categories. Don’t let $100 keep you from missing the eyeballs of your buyer.
5. Your Secret Weapon is a Speedy Deal.
For those looking at short sale properties, they quickly become aware that this process can take months. Make sure your agent lets potential buyers know that you can close a deal within a few weeks. This is especially important given 
the limited time the first time home buyer tax credit is available. To qualify for that credit you need to purchase and close your transaction prior to December 1st of this year. Other things to consider is to offer financial help with paying closing costs or consider throwing in new appliances or a fresh paint job.
In this market a home HAS to stand out. It HAS to be priced well and its very important to help they buyer feel like they are getting a great DEAL or they may not buy.
I would add a couple of more things that are relatively inexpensive and provide greater certainly of closing once an offer is agreed to.
A pre-listing home inspection can reveal issues in advance of an offer being received. By being pro active the seller can fix those items that they would be willing to fix and disclose those items they are not willing to fix. Many times sellers who have made considerable price concessions are asked to make some very expensive repairs that they never knew existed. These can amount to several thousands of dollars. The seller may have not come down on their price so much if they had known there were going to be so much in repairs.
I would also recommend a sewer scope on almost all homes and again a seller would be smart to be pro active. More and more buyers are asking for these even on newer homes. I recently saw a new townhome where the soil had sloughed under the sewer line creating the need to dig down and provide support. Tree roots, old age and even Verizon cable installations can damage a sewer line.
I would also recommend a home warranty. American Home Shield provides coverage even during the listing period and it does not need to be paid for until and if the transaction closes.
If a seller is not going to provide these assurances they should be aware that when they accept an offer they may be needing to pay up to an additional $5,000 to $10,000 for various repairs and we have not talked about radon, attic mold, water in the crawl space, roofs, EFIS, etc. etc.
It is a tough market.
Very good points. Its amazing what some sewer scopes will find. I’ve seen more than just a few of these done where the result was a new sewer pipe had to be installed. Also, in a real estate market where you NEED to differentiate yourself from your competition, a pre-listing home inspection can be very worthwhile.