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Archive for Monday, May 19, 2008

Five tips will help you sell your own home

May 19, 2008

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— In today's tough housing market, selling your own home isn't easy. Here are five tips that could help lead to that sold sign:

1. Find the right price: Overpricing the home is the No. 1 mistake people make, says Mike Malkasian of fsbo.com, a listing and resource site. It's especially true of you've invested in your home over the years. He suggests talking to a local real estate agent. They'll pull the prices of similar homes that recently sold in your area.

2. Try a multiple listing service: Local papers and free online sites are a great start, but experts consider investing in a multiple listing service a requirement these days. A listing service gets your ad onto a database accessible to real estate agents and buyers in your area and nationwide.

3. Stage your home: Seeing your house as a product can be difficult, says Sabrina Soto, host of HGTV's "Get it Sold." She suggests asking an honest friend to tell you the negative features of the house. Make sure to do all the repairs, clean everything and consider baking some cookies before your open house so it smells inviting. Keep in mind too many little accessories looks like clutter, and define each room the way it was designed.

4. Don't over-renovate: If you're looking to do some renovations, be smart, says Monica Pedersen, designer of HGTV's "Designed To Sell." Before anything else, invest in the kitchen, the bathrooms and the outside of the house.

5. Do your homework: Selling a home is time-consuming, so know what you're in for. Some states have laws pertaining to selling property. But Steve Udelson, CEO of owners.com, says the Internet has substantially changed the market. "Now people can know what they're getting into," he said.

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