Real Estate Advisor - Get a Home Inspection

[Rick Maday]

From the RE advisor newsletter - Tip # 1 in a buyers market - Get a home inspection:

Sellers Tactics: Attracting Buyers in '08

Home selling strategies should always be carefully tailored to meet current market realities. Here are some things to keep in mind if you’re planning on selling your home in 2008.

1. Get a Home Inspection: In a buyer’s market, it pays to take a pro-active approach. Home defects or outdated systems can hold up a sale or result in price reductions later on. By getting a home inspection before putting your home on the market, you’ll be able to address problems that might otherwise turn off savvy buyers.
2. Set Pricing Accurate to Market Setting a realistic asking price is the best way to ensure a timely sale. It's no longer enough to simply check current comparable listings in your area and match their asking prices. Research both the price and the time on the market of current comparable listings. Pay close attention to any properties that have sat unsold for an extended period of time. Get information on recent sold properties in the area, paying close attention to the sold date. If available, seek out statistical data on local home buying trends. Hire a professional appraiser to give you more finite idea of your home’s value. Keep your mind open to the possibility of a future price reduction should your initial listing not generate the kind of response you desire.
3. Pre-Market Prep: With inventories rising in many areas, buyers have become much more meticulous. It’s more important than ever to make sure that your home is show-ready before the listing is placed on the market. Clean and de-clutter your home inside and out. If you’ve been considering remodeling, stick to less-expensive projects in key rooms. Make any necessary exterior repairs (such as fixing broken gutters or missing shingles) to improve your home’s curb appeal. A professional stager can draw out your home’s best qualities while downplaying personal touches that may not be for everyone.
4. Professional Marketing: In a slowing market that favors the individual buyer, the guidance and know-how of a licensed seller’s agent becomes all the more valuable. The available resources, marketing experience and industry knowledge of a real estate professional will help you develop a targeted marketing plan based on your home’s strengths and the makeup of your immediate market.