OK, my last post was pretty depressing. I admit it. Has there been any improvement? Unfortunately, no. There are over 18,000 homes currently on the market in and around Indianapolis. That is a 27% increase over this same time last year. Builders are reporting being at least 20% under sales goals for the year.
The best position to be in is still the first-time home-buyer. If you don't have a home to sell, you can take advantage of this buyer's market. But, what if you DO have a home to sell? Here are some tips:
1) Take a good, hard, objective look inside and outside your home and depersonalize and declutter. This isn't easy to do. But remember, you are competing against 18,000 other homes right now. How do you stand out? You will have to pack up your items anyway, why not start now and make it that much easier when it comes time to move? Anything, which isn't absolutely necessary in day-to-day living should be pre-packed and stored in a storage unit or neatly in the garage, if necessary.
2) If you have any wallpaper, remove it. I don't care if you think it looks good. Wallpaper is outdated by the time you hang it. Remove it and paint a neutral color such as white or taupe. In fact, it wouldn't hurt to add a fresh coat of paint to your entire home if it hasn't been painted in the past five years. Same goes for the outside.
3) Shampoo all carpet and replace any worn or dated carpet. If you have hardwood floors either exposed or under carpet, make sure they are freshly polished or refinished, if need be. Hardwoods are extremely popular. Show them off!!
4) Have your home professionally cleaned. Don't skimp on this.
5) Make sure you have lots of color outside your home, such as colorful plants and flowers.
6) Have a pre-listing inspection and repair all items in it. It will save you from doing it after you have already agreed to a price and have to give away more money to make repairs and it is a powerful marketing tactic to market your home as inspected and all repairs made.
These are just a few of the major items. There are many, many others. Hire a professional home stager or buy a staging book and follow its advice.
The bottom line is that there is so much inventory out there right now, that if your home is not in tip-top condition, staged well, and priced very competitively, you simply will not sell your home. Sellers do not command the market anymore and it is not uncommon to see homes sitting on the market for more than a year.
Be fair to this tough market and it will be fair to you. Should you have any more questions, please do not hesitate to conact us. We are always happy to help.
