MAXIMIZING YOUR HOME’S SELLING PRICE -- (POSTED 8-10-09)

by Rick Shaffer 10. August 2009 12:55
   

The August real estate market is, per usual, very very slow.  But, hopefully, it will (as it usually does) pick after summer and summer vacations are over.  So, for those of you who have been trying to sell your home but haven’t done so so far, or who are thinking of putting your home on the market next month, now’s a good time to take some simple but important steps that will help make you home sell quicker, easier, and for the best price possible.

  

·        First, make certain prospective buyers can find your home.  How?  Be sure your home’s street numbers are easily visible both during the day and at night (.i.e. make them large, and lit), and, if feasible, place a “For Sale” sign out front. 

   

·        Clean up your home's exterior and interior – touch up peeling paint, replace cracked windows, clean or remove stained rugs, trim the lawn and the shrubs, and, remove all clutter before you put it on the market.  If you live in a condo or co-op, press the management board to clean both the exterior and the interior common areas.

  

·        Hiring someone to make small repairs is OK, but don’t spend money on expensive improvements such as a Jacuzzi, sauna or swimming pool, before you sell.  While certainly nice, such improvements seldom return their cost when you sell.  There are, however, three exceptions.  Spending money to upgrade your kitchen and/or bath, or to paint the property’s interior and/or, if it needs it, painting the exterior will, if done economically, usually add to your net gain when you sell.

  

·        Be certain your home’s interior is as bright as possible by cleaning all of your windows – inside and out. Also, add lamps to rooms that get little natural light, paint smaller and darker rooms white or off white, and keep all shades and curtains open and all lights on (even during the day) when the property is being shown to prospective buyers.

  

·        Make your home appear larger without spending a lot of money.  How?  Again, remove all clutter and add as much light as possible.  Add hanging mirrors, especially on opposing walls. In very small or dark rooms, line the top three to five inches of wall space with strip mirrors.

  

·        While you very well may, some prospective buyers may not like kids (or pets, or both).  So, try and keep yours out of the way when the property is being shown.

  

·        Use your sense of smell.  Make sure all unpleasant odors are removed by thoroughly cleaning your home – especially the kitchen and bath.  On the flip side, when the property’s being shown, place a small drop of vanilla extract on a lit light bulb, which will give off the smell of freshly baking bread, an aroma virtually everybody likes.

  

·        Hire a good, experienced real estate broker  Why? A good, experienced real estate broker will virtually always help you sell your home quickly, easily and for the best price possible.

·        Finally, and perhaps most importantly, be certain to price the property properly as soon as it goes on the market.  Indeed, this is one, if not the major benefit of hiring a good real estate broker.  Towards that end, before setting your property’s initial asking price, ask your broker this question – if I had to have the home under contract to sell within 30 days, what price should I market it at? – and then price your property relatively close to that price. 

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About Rick Shaffer

Rick Shaffer brings “The Money Show” to 96.9 WTKK, Boston's Talk Evolution each Saturday Afternoon from 1PM - 4PM. Then on Sunday from 9AM – NOON, Rick Shaffer and Susan Kaplan reprise the Money Show where they discuss everything from finance and investment to real estate and law.

Shaffer, an attorney with the law firm of Andrews & Updegraph and a graduate of both Boston College and Northeastern University School of Law, has hosted “The Money Show” since 1991. He has also been a regular guest and contributing financial expert on various programs on New England Cable News, WLVI-TV and other local television stations, and has been a financial, real estate and business writer for the Middlesex News, the Boston Herald, the Boston Globe and S&P Personal Wealth.

Susan Kaplan is a Certified Financial Planner and is the president of Kaplan Financial Services in Wellesley. For the past four years, Worth Magazine has named Kaplan one of the top 200 financial planners in the country and she has been featured in Louis Rukeyser’s Wall Street and Mutual Fund publications.

In 2006, Barron’s named Susan as one of the top 100 Women Financial Advisors in the country. Susan has also been named by Boston Magazine as one of the top 10 financial advisors in Boston (March 2006) and inducted into the 2003 Advisor Hall of Fame by Research Magazine. Susan has been chosen by Worth Magazine as one of the top 100 financial planners in the country for six years. She has been chosen by Medical Economics in the past five consecutive years as one of the best 100 financial advisors for doctors.

Susan has been featured in Louis Rukeyser’s Wall Street and Mutual Fund publications as well as numerous other financial journals. She has appeared on Bloomberg News, CNBC, WGBH, and Channels 4, 5, and 7. She has been asked to speak on investments at several major national meetings and has also been chosen to do Money Makeovers for the Boston Globe. She was a presenter at the CNBC / Fidelity Money Show for two years in a row. She co-hosts the radio show, The Money Show, on WTKK – 96.9 FM every Sunday morning.

 

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