
As buyers prepare to shop, and sellers contemplate putting up a for-sale sign, here's some advice - do's and don'ts - from several local real estate experts:
SELLERS
Keep your house updated - such as with new appliances - before you sell. Then, prepare to invest in it when you put it on the market, including new paint, carpeting, light fixtures and the like. Homes must be in top condition; there's too much competition. "You've only got one time to come out of the gate," said Bill Hurt, owner of ERA Shields Real Estate. "You expose that property, when you bring it on the market, to the greatest potential number of buyers. Once that group has dismissed it, it's terribly difficult to gin up their interest again."
Stage your home. Hire experts who will rearrange furniture and fixtures and remove unnecessary items to create a clean, de-cluttered look, said Nancy Rusinak of Rusinak Real Estate. Also, make sure the house's exterior has curb appeal - it should be clean, painted and neatly landscaped, she said.
Set the right price. One of the biggest mistakes sellers make is setting unrealistic prices. Agents can pull comparable sales data off computer listings to help educate sellers, but sometimes both parties need to drive around neighborhoods to see what competitors are asking and offering.
Sellers should be prepared in today's market to set a price that's at the low end of what similar homes are going for, Rusinak said, because "buyers can pick and choose, and they will." But remember: Sellers who don't get their asking price probably will make up the difference when they buy their next home from other sellers who likely have come down on their price, said Brian Maecker of Re/Max Advantage.
Use technology. Sellers can use the Internet to take visual tours of competitor properties. The advice applies to real estate agents, too, said Hurt, of ERA Shields Real Estate. Agents need to use the Web to educate sellers on what must be done to speed the sale of a home. "If it takes six months to market a property versus 30 days to market a property, assuming I'm successful, it's not good economic sense to take a listing on the property that isn't ready and the sellers have unrealistic expectations."
BUYERS
Think resale. Buy a home that will have value beyond your purchase, said Re/Max Properties' Joe Clement. "What's the track record for that neighborhood? What's been the appreciation from 1996 through 2007, and does this particular house fit in that same realm? What's the resale going to be? What's the floor plan? Always think resale."
Use technology. Research properties and narrow your choices using the Internet before driving around for hours with an agent. Re/Max Properties and other residential brokerages project listings onto big-screen TVs instead of having buyers crowd around a small computer screen. "It saves time," Clement said of viewing listings on a large TV. "With gas prices going up, let's figure out a way to save time and money."
Research your homebuying choices. Whether via the Internet or by obtaining statistical information prepared by agents, buyers have ample opportunity to learn the market. "There is a lot of choice out there," Hurt said. "There are opportunities to make some really good buys and there are opportunities to make some really bad buys. They need to make sure they get some really good information."
Get qualified and be ready to move in a hurry. "A wellqualified buyer that's been approved by a lender, to a seller, he's as good as cash," said Frank Fanelli, of The Platinum Group Realtors. Likewise, buyers who are prepared to close on a sale quickly - maybe in two or three weeks - are very attractive to sellers who need to get out from under their home, he said.