Selling your home in a shifting market

March 2006
The bidding wars are dying down. Cat fights, heartbreaking personal letters and other strategies employed by desperate buyers are fading into the past. While a freakishly warm winter in the Midwest and East has kept sales hotter than we'd expect to see in January, there have been plenty of signs that things are cooling down. Most economists expect sales of existing homes as well as new construction to sink from last year's record levels. Mix in rising interest rates, and things may start to look grim to anyone pondering a home sale.

But this doesn't mean you have to stay put. You may just need to work a little harder to reel in your buyer. Fortunately, there are plenty of creative, crafty, and just plain logical things you can do to help your home look exceptionally appealing in an inventory-heavy market.
Make a good first impressionYou want potential buyers to fall in love with your home the instant they pull up in front, which is why curb appeal is everything. It's absolutely vital that the yard is immaculate, the flowerbeds are fresh, and the garbage cans are nowhere in sight. Little improvements make a big difference. Freshen up paint, and buy a new welcome mat, doorknocker, and mailbox.

Get lostWhen an agent calls to say they're bringing someone over to see the house, get out. Take a walk, do an errand, get a cup of coffee, twiddle your thumbs, whatever it takes. When the owner is in the home, potential buyers feel uncomfortable exploring and asking questions, and will likely cut their visit short. While you may desperately want to provide a guided tour, listing all of the wonderful things about the house and improvements you've made, that's the agent's job.

De-clutterYou have too much stuff in your house. We're sure of it. We're not just talking about those jeans that haven't fit since college. We're talking big stuff, too. Thinning out furniture will make the home look larger and brighter. Get rid of extra chairs, messy bookshelves, unnecessary end tables, and anything else you can shake loose.

Donate or discard everything you don't need any more, and store the rest in a kindly neighbor's garage, if possible (don't put it in yours—that's what we call cluttershifting, and it doesn't fool anyone). If you need to, rent a storage unit.

De-stinkA less-than-pleasant odor—or really any odor at all—can make your home an instant no-thank-you. If you smoke, do it outside. If you have pets, take them with you during showings. Clean litter boxes religiously. Even the idea of animals is enough to make some buyers flinch.

Throw in a perkEven a small freebie can turn a ''looky-loo'' into an ''offer-loo,'' and make them feel really good about the deal they're getting. In the long run, it's sure to cost you less than the stigma of having your home sit on the market another month. While you'll want to work with your agent on the details, here are a few ideas to get you started:
Got a large yard? Offer to cover your buyer's landscaping fees for a year.
Kitchen hopelessly dated? Have a kitchen designer draw up some plans, and place them in a notebook on the kitchen counter. Provide a ''get started'' bonus for the remodel.
Moving to a smaller home, or one with a different configuration? Grab the opportunity to be generous with your existing furniture. If you won't need that gigantic dining room set in your new place, leave it behind.

While nobody knows exactly what the market will do, those mythic folks in the know feel fairly confident that we're headed for a dose of reality. But an impending slowdown doesn't mean you can't get a fair, or even favorable, price for your home. A little ingenuity, mixed with a bit of elbow grease can put you on the road to a successful sale.
(Courtesy of Washington Mutual)