Feng Shui (pronounced “fung shway”) is the ancient Chinese practice of arranging space to promote harmony in an environment. Home owners who are preparing their home to sell can take a few simple tips from this venerable tradition.
The first step is to engage the senses:
Your home should look good: A buyer’s first impression should be a visual sense of cleanliness, light and space. When you scan your eyes around a room, does every object enhance a sense of beauty? If it doesn’t, put it in storage.
Your home should sound good: Have some soft classical music playing or a fountain burbling and mute your answer machine.
Your home should smell good: Smells that you have been used to for years make the strongest lasting impression on people smelling them for the first time. Deep clean kitchens and bathrooms, remove cat boxes, and make smoking a strictly outdoor activity. Bake cookies or throw some orange peel in the garbage disposal before a client comes over to give your home a fresh welcoming scent.
First impressions carry the most weight for a buyer. Make sure your home is appealing to all the senses.
We’ve all seen the news reports about the real estate market slow down. Those reports have motivated many home buyers to wait until they are certain that the market has reached the bottom before they buy, so they can get the best deal. This might not be the best strategy, here’s why:First, it is nearly impossible to accurately predict the real estate market’s ups and downs. According to several analysts, prices generally are now at or near the bottom of the cycle. In some areas the market is already coming back and seeing a gradual increase in values. The larger selection of homes that are listed these days makes it easier for you to find your ideal home in the right location. Once the slump is over, that selection will dwindle. With so many properties on the market, sellers are willing to negotiate price and terms and even offer incentives. This is the best way to make a deal rather than waiting for home prices to drop significantly. Mortgage financing is still available at near record low interest rates. True, it’s tougher to qualify for a loan today, but if you have good credit and a decent “credit score” you should have no problem in obtaining financing with very favorable terms. Many lenders are still offering 95 and 100% financing. Rarely will you see the combination of factors we have in the market today. Take advantage if you are in the market to buy. It is a great time for first-time buyers and investors!
If you are preparing to sell your house in an area that is dominated by a certain age group, it’s important to do a little “market research” about what your buyers are looking for in a home. Although there are many aspects of a home that are universally desirable to most homebuyers, some features are more “generation specific”.
The era that each generation was born into has as much influence on their tastes and needs as their stage of life does. For example, members of the Silent Generation, born in the Great Depression, want economy and are looking to retire in a smaller home fitted with safety “age in place” features. They want to stay close to family, doctors and medical facilities and have easy access to social gathering places. While Baby Boomers (1946 – 1964), born in more affluent times, want space and luxury. They want a private retreat for retirement and put state-of-the- art kitchens, whirlpool baths, fireplaces and walk-in closets at the top of their must-have lists. This “sandwich” generation homebuyer is often looking for that “granny flat” outside, to house a parent or a grown child.
Be sure to ask your REALTOR® what cost effective features you can add to your home to make it more attractive to the buyers in your area.