Summer always brings lots of questions about the wisdom of owning a vacation property in a resort location. Whether you are thinking of warming up at the beach or cooling off in the mountains, here are a few frequently asked questions that will point you in the right direction:
The National Association of Realtors announced recently that they expect the housing market to make a recovery later this year, with inventories falling and prices beginning to rise as we enter the early part of 2008.
Well, that's just fine if you plan to sell next year, but what can you do to get your house noticed if it's on the market right now? How can you make it stand out from the crowd?
In recent weeks, we talked about the merits of listing your home for sale with a real estate professional, and examined opportunities for those who may want to try selling themselves.
Regardless of which way you decide to go, here are some ideas that most home sellers have never thought of. Each one may not appeal to you, but if you will try some of these ideas, it may just get your house noticed:
* I'm a big believer in directional signs. They call attention to the fact that a home in the neighborhood is for sale, and each one acts like a little "for sale" sign for your home.
Unfortunately, in most cities and counties, it is against local ordinance to place a directional sign in the "right-of-way," which can extend back 15 feet or more from the curb.
Your solution is to a) ask permission of the property owner, b) put up your directional signs late on Friday afternoon, and c) take them down on Sunday night. Adding a bright color helium balloon attracts attention and lets viewers know the sign is not out of date. Helium balloon kits are cheap at local party stores.
* On your "for sale" sign in front of your house, keep it simple.
If you are listed with an agent, I recommend only one phone number, and that is the number at which the caller is most likely to get a human voice. There is no need for the sign to list 4 phone numbers, two websites, and have a large grinning photo of the agent. Remember: we are selling a house, not the agent.
If you are selling on your own, you need only say "for sale by owner," list the telephone number, then say "by appointment only" and "agents welcome."
The statement regarding appointments will discourage prospects from knocking on your door unexpectedly. And the welcome notice tells agents that you are willing to pay a "finders fee" of some amount that you have predetermined. I would recommend 3 percent of the purchase price.
* I am also a big fan of full-view brochure boxes being attached to your "for sale" sign. They cost less than ten bucks on the web and at hardware stores, and prospects will stop in front of your house day and night to pick up a brochure. The most important thing here is to keep the brochure box full.
In my opinion, the brochure should be quite simple, with only enough information to remind the prospect which house is yours. One photo is plenty, and it can even be in black & white, but all the info needs to fit on one single sheet. Huge packages of color photos and detailed info are overkill.
By the way, it's best to attach your brochure box to your signpost, as someone may walk off with it (accidentally).
* I think you should hold open houses on Sunday afternoons, if it's convenient. Your agent may feel this is unnecessary, especially if she has 50 houses listed. But you should go ahead and hold the house open anyway.
You never know when a nosey neighbor may have a relative or a friend that wants to live in the same community. In addition, there is also the possibility that a neighbor likes the area, but wants more (or less) room than they have now. In any case, it's free and it helps spread the word that your house is for sale.
And whether you do or don't hold open houses, this is the time to bring our all your detailed information about the house.
* Create an in-depth information package about your home, including copies of everything from the survey and the legal description to recent year tax bills and utility averages. Include warranties on any repairs or replacements made during your ownership, and include things like a copy of the neighborhood newsletter and elementary school communique.
If you are willing to spend the money, this is where I would attach a copy of a recent home inspection and a copy of a current appraisal.
Yes, those two items cost several hundred dollars each, but they lend more credibility to your property and your asking price than anything else you can hand the prospective buyer.
