Lisa and Jim's Northern Nevada Real Estate Blog: March 2009

Not Distressed and Very Motivated ... How Do We Compete to Sell?

You must be well priced to compete, but there are other considerations that will help you stand out or give you separation in the market.  Considering that many of the sales today are bank-owned properties, one way to stand out is to be candid and proud of what you are offering.  Banks only sell "as is in its present condition", no Real Property Disclosure Statement, no repairs, no allowances, etc.  Buyers must sign a series of disclosers and disclaimers that emphasize that fact.  If the banks' sales prices weren't so attractive Buyers would certainly revolt against such brazen indifference to their peace of mind and statutory rights.  

A private party Seller can capitalize on this and endear Buyers to their property by having physical and pest inspections completed on their home and readily available for prospective Buyers to review.  Even better would be to make the recommended repairs so you are offering an inspected and repaired home.  Buyers can then have confidence in what they are buying.  We see many of the same problems discovered in home inspections.  Most are relatively easy to remedy and we highly suggest that you repair them immediately if you are serious about selling. The psychological advantage you gain with the Buyers is significant ... this in a time when subtle is big.  

The most common required repairs that we see:  1. "Cellulose debris" in the crawlspace.  This is usually left over wood trimmings.  Remove them and you have a clear pest report.  2. Notched floor joists.  Easy to remedy with post on concrete block.  3. Earth to wood contact around house.  Take a shovel and move it away.  4. Sweaty dual pane windows.  Indicates a broken seal - replace the window - your home will also show better.  5. Dirty air filter.  Replace and enjoy the clean air.  6. Disconnected ducting.  Reconnect.  7. Leaky sinks.  You've lived with it, but its time to fix it.  8. Electrical matters, i.e.- broken GFI, missing box covers, etc.  Electricity can spook people - get it all fixed.  9. Missing or damaged screens.  An insignificant nuisance, but a visual blight and it is always caught - repair. 

Bank-owned homes are vacant, dark and cold as the utilities are turned off.  Make sure your home is lit up and happy.  Your home should be the vibrant bastion of warmth and good energy that it is ... a home.  That is the antitheses of the bank-owned viewing experience and will give you an edge.  It is also very important that you declutter - start packing the extra stuff ... you're moving anyway.  

Our Advice: If your house is inspected, repaired, and fully disclosed you will stand out in the market.  Buyers will have confidence and peace of mind buying your home rather than going through the hassle and doubt of buying a home with obvious required repairs that might have other undisclosed problems.  Quality sells ... show your quality.  Clean, unclutter, and repair.  Sales are occurring ... it takes work on the part of the agents and the homeowner.  Do your part and you can get on with your life sooner. 

Pricing it right is a most important first step.  What you do next will determine how soon your home will sell.  When it comes to choosing professionals to assist you with your real estate needs... Experience is Priceless!  Lisa Wetzel & Jim Valentine, RE/MAX Realty Affiliates, 775-781- 5472.,

Comment balloon 3 commentsLisa Wetzel • March 28 2009 09:35PM
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