By Teles Properties

FACT: In our local Westside real estate market, on average less than 1 out of 10 homes sell on a monthly basis. In 2008, on average 7% of homes listed for sale went under contract on a monthly basis. In 2009, the number has increased to 8%.This means approximately 9 out of 10 homes don’t sell each month.

To position your home to sell for top dollar there are three primary factors to consider:

1. Getting your home ready for sale
2. Pricing
3. Marketing

Getting Your Home Ready for Sale

Most buyers in today’s market want move-in condition. These are the homes that sell for the best prices in the shortest period of time. You may be worried about the negative press surrounding the real estate market, but there is still healthy demand for new/ updated homes in excellent shape. Before you meet with a real estate agent, take a good inventory of your home. Ask yourself:
What works and what doesn’t?
What repairs are needed?
What about the basic systems in your house – electrical, plumbing, heating, air conditioning?

When you sit down with your agent to discuss the sale of your home they should provide you a detailed list of repairs and improvements after a careful walk-thru of your home. One important recommendation would be to have a home inspection done before you list your home for sale. Your agent can provide you with a list of home inspectors they have experience with (link to home inspector list). The inspection will cost approximately $500 – $1000 depending on the size of your home. This report will identify things that need attention or repair.

Having this inspection done upfront as well as any other inspections your agent recommends, and doing the necessary work will end up making your home much more marketable and salable to a wider audience of potential Buyers. The cost of the inspection and repairs will be minimal relative to the return generated.

We’ll discuss staging and landscaping ideas in our next blog.
Teles Properties cutting edge blog, Teles Talk, provides current, critical and complete information for real estate agents.

Filed under: Uncategorized on July 8th, 2009