Flip that house

 

By Terry Oparka

C & G Staff Writer

     Being buyer friendly and making your home stand out from the others on the market are the keys to a successful sale in this economy, according to some local experts.

     “There is more property on the market now than ever before, about 60,000 properties,” said Walter Baczkowsk Jr., chief executive officer for the Metropolitan Consolidated Association of Realtors.        

     A Realtor can tell you the best way to present, or stage, your home to sell, Baczkowski said. “You’re not showing your style, you’re showing your house. Take that leaf out of the dining room table, and remove half of the furniture out of the bedroom and den. You buy a home, but you sell a house. You have to remain objective, and you want the house to look its best.

     “It’s all about curb appeal,” he said. “Get rid of clutter in the garage and closets, throw out ratty furniture, paint, pull out shrubs blocking windows and fix stuff.

     “Fix that broken gate,” he said. “Because that’s what people will remember, not your beautiful home.”

     Baczkowski said that homeowners should sit down with a Realtor and review the home as a buyer would. “Get things clean and in order.”

     That could mean removing something that you love, like the papier-mache animal your first-grader made that graces your coffee table in the living room, which may put others off.

     “I looked at a home with a zebra statue that a family member had made that was displayed prominently, and the only thing I remembered about that house was the zebra and I didn’t buy that home,” Baczkowski said. He added that hiring a home inspector before you list your home could identify any problems that could scuttle a sale.

     This applies to homes in all price ranges.

     David Janowski, a Realtor with Century 21 Town and Country, said that a client who his selling his Troy home, which is priced at more than $1 million, completed a number of improvements before he listed his home. He installed new floors, a new patio, and caulked the driveway, said Janowski.

     Dave Elya, broker/owner of Realty Executives Group in Shelby Township, agreed.  “Get carpets cleaned, put the toys away, and restrain pets during showings,” he said. Elya said he believes the real estate housing market has “bottomed out,” and said he had requests from buyers to see 25 different homes on a recent weekend.

     “People are ready to buy,” he said.

     After you’ve spruced up the house, you need to determine the selling price.

     Sellers should also take a hard look at the price and set it realistically compared to what other homes in the area have sold for.

“Talk to your Realtor. They know what has sold in your area and how your home compares,” Baczkowski said.

If you have to ask less for your home than you thought you would, don’t despair. “You may be able to buy a home (for less than you thought) and make up the difference on the other end,” he said. 

     Also sellers should have a contingency plan to reduce the selling price if they’ve had fewer than 10 showings in a three-week period. 

     And be prepared for surprises.

     Elya said that sellers are surprised when they are asked to pay the buyer’s closing costs. By law, this can be no more than 6 percent of the sale price, he said.

     “It’s important to understand your own financial picture,” Baczkowski said. “If you’ve refinanced and taken more than 50 percent of the equity out of the home, you may have to pay to sell your house.”

     “If you’re mortgaged to the hilt and need a bigger home, it might not be the right time to sell if you need a specific dollar amount,” he added.