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3 Tips For Staging Your Home to Sell

by Allison Simson

Decluttering has financial upside
 

Question:  Allison, we are knee-deep in the sales process of our Wildernest duplex.  We live in the property most of the year and we have a lot of stuff.  What tips do you have for us to really make our place shine?

Answer:  Thanks for asking.  I get this type of question a lot and it is so important!  According to Diane Hymer of Inman News, today's buyers are looking for turnkey homes. That is, they want to move right in without having to do a lot of work. Buyers with busy lifestyles pay a premium for listings that are in prime condition. Staging can make the difference between a listing selling or not, the time it takes to sell, and the ultimate sale price.

Sellers who are financially strapped often have a hard time accepting that they'll need to invest in preparing a house for sale even though they may sell for less than they paid. Fix-up costs can mount up; your agent can help you prioritize so that you don't waste money. It's important to keep your goal in mind, which is to sell your house in a difficult market.

Recently, a home in Piedmont, Calif., an affluent city neighboring Oakland, came on the market in "as is" condition. It had been lived in for decades without much upgrading. Although located in a desirable area, the listing was vacant, dark and showed poorly. The sellers refused to do any work to improve its appeal.

After months on the market with no significant interest, the sellers pulled the house off the market and made improvements. The wall-to-wall carpet was pulled up to reveal hardwood floors that were then refinished. Painters lightened the interior and a professional stager was hired to bring in furniture, artwork, house plants and accessories. The listing was put back on the market with a fresh look and sold right away.

Although listings staged by a good decorator show well and often sell quickly, you don't need to spend a lot to put your home into shape for marketing. Most homeowners have too many personal possessions in their home from a sale standpoint. Decluttering is something most sellers need to do.

This can generate uncomfortable emotional responses. One seller, who was cleaning out the family home of 50 years, found a packet of love letters his father sent to his mother. Of course, he had to read all of them, which delayed his fix-up schedule.

Consider hiring someone to help you sort, pack, donate and recycle items that you no longer want. You may be able to take a tax deduction for things you donate. Make sure to get a receipt. Your real estate agent should be able to recommend someone who can help you clear your house of clutter if you are overwhelmed by the project.

Your Broker, or stager, may ask you to put away collections of art, personal photos, etc. This can be difficult for most sellers because, for them, it's part of the emotional appeal of their home. Your house won't look like your home after you've removed personal possessions and moved what's left around to display the house to its best advantage.

That's the point of the preparation process. You don't want prospective buyers focusing in on your personal property; you want them to focus on the house. Keep in mind that how you live in your home and how it should look when it goes on the market are not the same.

Some sellers complain that their house looks too stark without all their possessions. Even so, it helps you to detach yourself emotionally from the property. Also, less personal property usually gives homes a more spacious feel. When buyers are looking for the most for their money, bigger is usually better.

To close the deal, a listing should be spotless and inviting. Bring in new house plants to put in strategic locations, like orchids in the bathrooms. In dark spots that need a dash of warmth and color, use bromeliads.

If you can't pull this together yourself, or with the help or your Broker, hire a good stager for a consultation or a proposal for full or partial staging.  We have a few great names of excellent staging folks who can help you.  Just give us a call!

 

Happy Holidays!  For answers to your real estate questions, call Allison at 970-468-6800. Email - [email protected]. Her philosophy is simple, whether buying or selling, she understands that the most important real estate transaction is yours.  Want to know the value of your Summit County property? Visit www.SummitHomeValue.com  

Real estate buyers eat cost for wear-and-tear items

by Allison Simson

Home Sale Hindsight

Question: Allison, We purchased a large home in Eagles Nest, Silverthorne last year. The property overall was in good condition, with the home being only 10 years old. Now that winter is here with this year’s huge snowfall, we are finding many areas of exterior paint flaking off; a large wood deck that was painted is now rotting and lifting; and numerous interior floor tiles are cracked and lifting. Should we call our insurance company or just own up to the cost of homeownership?

Answer:  Good question! In the real estate industry, we often tout the privileges of homeownership. But owning a home also has its costs above and beyond mortgage payments and taxes, and you're more mature than the average new homeowner to acknowledge as much.

Just as it's a fact that if you live you will someday die, and if you buy a new car it will eventually get a door ding or window chip, it is the truth that if you own a home, at some point you will have to maintain and repair something, and it's not necessarily anyone's fault.

Obviously, you're concerned that the home seemed fine last year, but now has a number of items that are falling into disrepair. Several things could be behind this.

First of all, many people believe that new homes are often made with materials and methods less long-lasting than homes built a century ago were. Clearly, homebuilders disagree, but there is a real issue around the planned obsolescence of recently manufactured items and materials -- virtually all industries manufacture items to last only so long these days.

One of my favorite home inspectors used to say that if your water heater was 5 years old, it might only have five years left on it, because recent water heater models are built to last roughly 10 years. If it was 20 years old, though, it could have another 20 to go -- back then, things were not built with a planned life span -- they were built to last!

Also, if your home was specifically staged or prepared for sale -- i.e., the exterior or deck painting or tile installation -- the owners or their contractors might have elected to use lower-cost/lower-quality materials. This doesn't necessarily mean they were intentionally trying to cover up a defect in the property (although I have seen this happen, too).

If you were preparing to sell a home and wanted to show it in its best light, but weren't concerned with the paint lasting for the next 10 years, you would likely not select the most expensive, highest-quality materials, either.

This is the same reason I generally encourage homebuyers to take a repair credit and complete the actual repair themselves or via a contractor, and with materials they select, rather than asking the seller to do the repair; someone who's leaving the house will almost never choose the same-quality materials as someone who's about to move in.

Now, to your specific question of whether to call the insurance company or eat the costs, from what you've told me I'd say you'll probably have to dig into your own home maintenance fund to cover the costs.

Think of the difference between the insurance you carry on your car, and a new car's warranty. Insurance generally covers the cost of repairing your car (and your home) after a traumatic event or disaster. In the case of your home, it could be a plumbing disaster that ruins the flooring or drywall, a burglary, or some natural disaster.

A warranty, on the other hand, covers the costs of maintaining items that simply wear out or malfunction without any sort of accident, event or disaster. If you have a home warranty, it may cover your water heater or furnace if they wear out.

However, the maintenance of the particular items that are "wearing out" on your home, namely the deck and cosmetic items like paint and tile, are generally excluded from home warranty coverage policies, in my experience.

Flip through your home warranty policy or even give the warranty provider's toll-free line a call to make sure you don't lose out on coverage you have, but chances are good that you're going to need to put a plan (and a budget) in place for repairing the tile, replacing the deck and repainting the house.

The upside? This time, you'll choose top-quality materials and you may not have to do these items again for a very, very long time -- if ever.

 

For answers to your real estate questions, call Allison at 970-468-6800. Email - [email protected]. Allison is a long time local in Summit County. Summit Real Estate – The Simson/Nenninger Team is located at the Dillon Ridge Marketplace. Allison’s long-time residency and years of real estate experience can help you make the most of any buying or selling situation. She’s a Certified Residential Specialist (CRS), the highest designation awarded to a Realtor in the residential sales field.  Her philosophy is simple, whether buying or selling, she understands that the most important real estate transaction is yours.  Want to know the value of your Summit County property? Visit www.SummitHomeValue.com   

First price cut's the deepest

by Allison Simson

Question:  Allison, my Realtor keeps saying that I should lower my sales price on my condo in Wildernest by $20,000. It's been on the market since May 25, 2010. What do you think?

Answer:  To answer your question, I looked at some national sources to see what they had to say and came across this information from Tara Nicolle-Nelson that has some interesting insight…

“As brilliant as I am (and modest, too, obviously), I'll be the first to admit that no national real estate commentator or expert can give you advice on pricing your home with the same level of expertise and insight into the comparable sales, competing properties and buyers' perception of your home that a local broker or agent can.

Your own agent's advice is especially credible and trustworthy if that agent is a local real estate pro with a track record of closing sales of homes in your market, in a fairly recent time frame.

And despite what the popular media would have you believe, in many ways your agent's interests are highly aligned with yours in that they don't get paid -- at all -- unless and until your home sells. Once an agent has your listing, she has a strong incentive to give you the advice that would get your home sold.

So, the first thing I would ask is whether you interviewed your agent and took the care to verify that she has a history of successfully listing pricing and marketing homes in your area before you "hired" her to list your home. If so, then trust her! If not, it's still possible that she's giving you good advice, but we'll get into that further in a moment.

With that said, it does behoove you to do what you can to understand why your agent is making this recommendation, and to make an informed decision about whether to follow her advice. Questions you should consider, in evaluating her advice to lower your price:

1. Relative days on market. You mention that the property has been on the market more than four months, which sounds like -- and is -- a long time. But how long is it relative to the average number of days a home in your area stays on the market?

Ask your agent to brief you on the average number of days on market; if homes are generally on the market around that long before selling, then you may not have as urgent a need to reduce the price, but do keep in mind that you have well tested the market of buyers out there now and they don't seem to be biting at that price.

2. Seasonality. Also keep in mind that the market is more active during the summer. If it didn't sell at that price over the summer months, the chances it will sell priced at the status quo heading into the fall and winter are very slim.

3. Buyer search behavior. If you agree with your agent that it's time for a price reduction -- as I'm inclined to do, by the way -- but you're not convinced that $20,000 is the magic number, take the way buyers search for homes into account to maximize the exposure your home will get by virtue of this price reduction.

Buyers generally cut their searches off at $50,000 and $100,000 increments. So, arguably, your home would get more exposure to buyers from a $6,000 price cut from $355,000 to $349,000 than it would from a $20,000 price cut from $330,000 to $310,000.

(Of course, if your home's comparable sales indicate a value of $310,000 and it's currently priced at $350,000, then the ideal price cut wouldn't be to $349,000 -- it would be to $299,000!)

4. Your urgency, bottom line and desire to avoid lowballs. The more urgent your need to sell, the more quickly and deeply you should consider cutting your price. To be clear, your insistence on maintaining the current list price does not in fact mean that you will sell it at the price you want.

Conversely, neither does dropping the price by $20,000 mean you are taking a $20,000 hit to your net sale price -- I've seen time and time again where a price reduction hit a home's pricing sweet spot, and generated multiple offers, with an end selling price above the reduced price.

On the other hand, I've seen sellers refuse to cut an obviously overpriced home and end up with nothing but seriously lowball offers from buyers who perceived the seller as being (a) unreasonable and/or (b) desperate.

Here's one final question: Has your agent been telling you that you should cut the price since before you listed it? If her opinion has always been that your current price is too high, then you should consider the market as having proven her right and, again, made the case for her trustworthiness.

If the current list price for your home was the "right" price -- meaning the price that will attract a qualified borrower to buy your home -- it would already have sold. It hasn't, so my opinion is that you should revisit and cut the price, without further ado. How deeply you cut it is up to you.  Inman News 2010.                                           

 

For answers to your real estate questions, call Allison at 970-468-6800. Email - [email protected]

Who is buying in Summit County?

by Allison Simson

The National Association of Realtors has just released a survey with some interesting facts about the "average" second home buyer:

Vacation Home Buyers
Median age: 46
Median income: $87,500
Median distance from primary residence: 348 miles
Median sale price in 2009: $276,000

Vacation homebuyers were most likely to purchase property in a rural area, small town or resort.  They plan to keep the property for an average of 16 years.

Investment Property Buyers
Median age: 45
Median income $87,200
Median distance from primary residence: 24 miles
Median sale price in 2009: $105,000

Investment buyers were most likely to purchase proeprty in metropolitan areas. They plan to hold it for 12 years.

Source:  2010 National Association of Realtors Investment and Vacation Home Buyer Survey.

If you would like to know more about buying property in Summit County as a second home, please reply to this email or call us at 800.262.8442 and we can give you the inside scoop! 

 

Warmly,

Allison Simson, Owner/Broker
Lynn Sustad, Buyer Specialist
Kelie Gray, Buyer Specialist
Anna Willis, Buyer Specialist
Kristi Warner, Client Care Manager
Ranay Beddow, Listing Coordinator
Margaret Bowes, Transaction Coordinator

Pricing to sell in today's market

by Allison Simson

With price reduction, timing is everything

Question:  Allison, we currently have our Keystone condo on the market and our Broker is telling us we need to reduce the price.  We priced it where he told us to price it in the beginning.  What’s up with price reductions?  Doesn’t that make our property look bad?

Answer:  That’s a good question…and one that I hear a lot!  Selling property is not always easy, and putting yourself in the right mindset to sell is essential. It's the most difficult aspect of selling for most sellers. Your home is worth what a buyer is willing to pay, which may not be what you think it is worth.

Detaching yourself emotionally from your home- even your second home - is difficult. Clearing out years of clutter, depersonalizing your home by removing personal memorabilia, and staging your home for sale can help you step back and view the home as a commodity that needs to be sold rather than as your personal sanctuary.

Putting your home on the market at a price that reflects what you want and not what the market will bear can cost you time and money as it sits on the market unsold.

The home-sale market is a localized phenomenon. The only way to get a clear picture of what your home is likely to sell for is to find out which listings are selling in your neighborhood and for how much.

The most recent sales -- those that closed within the last three months -- will be the most informative. Be sure to take a hard look at the list prices of homes that are new on the market.  The market is constantly changing, and so the price you listed it at 6 months ago, is probably not the price it will sell for today.

If the list prices are lower than they were two or three months ago, this indicates that prices are declining. This needs to be taken into account when you select a list price.

HOUSE SELLING TIP: Pay close attention to your competition. Don't fall into the trap of pricing your home higher than your neighbor's home because yours is better. If your neighbor's price is too high for the market, neither of your homes will sell.

Ask your listing agent to call the listing agents of properties similar to yours to find out what kind of showing activity they are receiving. Have they had offers? If so, why weren't they accepted? Was the price too low? If so, you should set your sights lower.

Your home is most marketable when it is new on the market. Buyers wait anxiously for the new crop of listings. Listings that don't sell relatively quickly often languish on the market.

Price reductions often follow as the sellers try to find market value. A listing that has been on the market for months is likely to receive a low offer -- if a buyer makes any offer.

A listing that receives a lot of showing activity when it first hits the market but gets no offers is probably overpriced for the market. In this case, it's best to lower the price to market value as soon as possible while the listing is still fresh in agents' and buyers' minds, even if this is within two to four weeks of the listing date.

Pricing right for the market is imperative.

Inman News copyright

 

For answers to your real estate questions, call Allison at 970-468-6800. Email - [email protected]. Would you like a personalized list of all properties that meet your criteria, without having to speak to a broker?  Visit www.SummitHomeBuyer.com      

A Reasonable Perspective!

by Allison Simson

As Dorothy says in the Wizard of Oz...."There's no place like home!"  I just returned from vacation this past weekend.  I had a wonderful, relaxing time with my family, but it's good to be home.
 
You know how it is when you get back from being away....it's payback time!  While plowing through my many emails, I came across this "Round of Reasonable Perspective" and wanted to share it with you...

Another Round of Reasonable Perspective
"There is no question that we face formidable, long-term structural problems with our economy – problems that have made US markets less attractive in recent years. But these problems are surmountable. We have no qualms saying that the spirit of innovation and entrepreneurship that has defined America in past crises will prevail today.

Though housing remains tepid and debt and deficit levels are rising, compared to the rest of the world the United States is in good shape. Our economic fundamentals are sound: manufacturing levels are up and interest rates and inflation are low. What's more, the broader economic recovery is translating into meaningful employment improvements and corporate-profit growth that could potentially reach a record high in this year's third quarter.

Risks clearly remain, but markets are always fraught with risks: there are no perfect markets. To the contrary, when markets seem the most perfect, that's when they are the most risky, as the housing and mortgage markets post-2006 have so painfully revealed. Things still aren't so rosy today, but that's okay, because we're sure that better days lie ahead."

And now for your Tuesday Coffee Break...I want to thank the amazing team at Summit Real Estate for "holding down the fort" while I was gone.  They enrich my life everyday!  Our business wouldn't be where it is today without their commitment, help and support.  Now for today's quote:
 
"Even 'Super-You' needs help and support. There is no shame in asking for assistance. Push aside the pride and show respect for the talent others can bring to the table.

And, remember that there is no such thing as a single-handed success: When you include and acknowledge all those in your corner, you propel yourself, your teammates and your supporters to greater heights.
                                - Author Unknown.

Fixing to sell: Don't go overboard

by Allison Simson

Make improvements that pay off

Question:  Allison, my wife and I own three properties in Wildernest that we’d like to fix up and sell.  We understand that the market is difficult right now everywhere (although we’d hoped it wouldn’t hit Summit County like it has!)  What repairs should we make to maximize our investment?

 

Answer: Great question.  Fixer-uppers with upside potential were in high demand when the market was appreciating at a fast pace. Once depreciation took over, speculators disappeared until 2009, when low-end foreclosure properties in some areas of the country became hot properties -- particularly if they were selling at a 50 percent discount from the national peak in summer 2006 (our peak in Summit County was late 2007-08).

Fixers priced over $500,000 aren't as easy to sell today. Most buyers in higher price ranges are buying a home to live in. They want a home in move-in condition that will suit their long-term needs.

There are exceptions. In high-demand market niches with few listings, there is occasionally a fixer-upper that draws a lot of attention. Usually, these fixers sell to buyers who will live in the property and fix it up themselves to save money. Often this is the only way they can afford to move into the neighborhood.

Sellers of fixers in such neighborhoods should make their property as presentable as possible by cleaning out clutter, both inside and out. Many homebuyers can't visualize a property's potential. It's often worth a modest investment to show the house at its best advantage.

Cosmetic improvements, such as painting, replacing outdated floor covering, or refinishing worn hardwood floors can pay off. Some fixers are staged, even though the property needs a lot of work, so that buyers can envision themselves living there.

Presale inspections will help buyers make a decision about whether or not to tackle the project. Make reports available to buyers before they make an offer to avoid having to put the home back on the market if the deal falls apart because the buyer's inspectors discover defects not previously disclosed.

HOUSE HUNTING TIP: How much you spend preparing a fixer for sale depends on several factors. How much did you pay for the property? How much do you owe against the property? Is there demand for fixer-uppers in your area? Finally, how much does your real estate Broker think you can sell the home for given current market conditions?

Sellers who have equity in their home and cash to invest in fix-up for-sale work should consider making cost-effective renovations, like a kitchen upgrade, but not an entire renovation. Ask your Broker what the home would sell for with and without these improvements before doing anything to it.

The investment may not yield a profit, but could recover the costs when the home sells. In areas where fixers aren't selling, sellers might need to enhance the property to sell at all. A good real estate Broker should be able to provide references for reliable, reasonably priced professionals who can do the jobs for sellers who haven't the time or expertise to do the work themselves.

Buyers who bought at the peak may not be able sell for even close to what they paid. One possibility would be to rent the property, if it makes sense financially. You may need to fix up the property somewhat to attract a good tenant. Consult with a certified public accountant about the tax consequences of converting a single-family residence to a rental.

Another option, if you don't have to sell now, is to stay put for awhile and fix the property up gradually over time. Avoid investing a large amount of money in the hopes of getting a bigger return.  Inman News.

 

For answers to your real estate questions, call Allison at 970-468-6800. Email - [email protected]. Want to know the value of your Summit County property? Visit www.SummitHomeValue.com   

Tuesday Coffee Break ~ Real Estate Outlook: Experts Weigh In

by Allison Simson

It's beginning to show signs of spring here in the high country...the buds on the trees are coming to life and the melt-off is beginning.  It's been a long winter and the sunshine is quite welcome!
 
I'd like to share an interesting article from "Realty Times" published on May 10th:
 
Real Estate Outlook: Experts Weigh In 
by Kenneth R. Harney
Mega-investor Warren Buffett and a group of top corporate leaders are weighing in on a key issue that's crucial to a sustained real estate recovery: How long will the good economic news we've been getting lately continue?

Are we going to be let down later in the second half of the year, or is the current, slow-moving national economic growth pattern a long term trend?

Buffet told his annual stockholders gathering in Omaha that, the economy is showing "significant" and persistent improvement for the first time since the financial crisis broke in 2008.

Other top business leaders polled by the Conference Board -- and quoted last week by the Wall Street Journal - said they are now "confident that the U.S. will see sustained growth through 2010" - with moderate gains in employment, consumer spending and consumer confidence.

That's hugely important for housing of course - and offers a strong answer to economic doomsayers who predict a sharp drop in home sales and real estate activity following the expiration of the tax credits.

The latest housing and mortgage numbers certainly look encouraging:

Pending home sales jumped by more than five percent in March, according to the National Association of Realtors, and were 21 percent higher than the previous year for the same month.

Home prices are turning at least modestly positive again in the majority of large housing markets. The closely-watched PMI risk index, which looks at price decline potentials for two years out, found that 42 of the 50 largest markets in its latest survey showed diminished risk.

Another index -- from valuation data firm Clear Capital - found home prices gained by five percent nationally year over year. Prices in a handful of what Clear Capital calls "micro" markets are doing better than that. Washington DC, for example, saw an 8.4 percent increase over last year, according to the latest index.

Meanwhile, new applications for loans to purchase houses took another big jump -- up 13 percent over the previous week, according to the Mortgage Bankers Association.

MBA vice president for research, Michael Fratantoni, said that last week's FHA and VA share of home purchase applications soared above 50 percent -- the highest it's been in more than two decades.

Finally, there was some outstanding news for home buyers and sellers in high cost markets: The jumbo loan market is roaring back -- with more banks now offering big loans and cutting rates. One major lender even announced that for credit-worthy applicants, it's dropping rates on jumbos to 5.7 percent for 30 years -- the best ever.

Published: May 10, 2010 in “Realty Times”


In Summit County, we historically lag behind the national economy by 18-24 months.  When the majority of the economy has their big spike in prices in 2005-2006, we were still very steady and flat here, and then when the rest of the country took a nosedive is right when we saw our biggest appreciation in years!   Now, our values in Summit County are depreciating, but it's great to hear some good news on the national front.  Time will tell if history repeats itself or not.

 
And now for your Tuesday Coffee Break....."We tend to forget that happiness doesn't come as a result of getting something we don't have, but rather of recognizing and appreciating what we do have."     ~  Frederick Keonig

Have a great week! 

 

Warmly,

Allison Simson, Owner/Broker
Lynn Sustad, Buyer Specialist
Kelie Gray, Buyer Specialist
Anna Willis, Buyer Specialist
Kristi Warner, Client Care Manager
Margaret Bowes, Transaction Coordinator

I received so much response from my last article on staging your home to sell, I decided to incorporate a few more ideas.  I found these tips in a blog from Emily Hsieh.

It’s probably stating the obvious to say that it's a tricky, challenging real estate market out there, and, if you’re currently selling your house, you can use any kind of competitive edge. Professional home stagers can help you get it. Part interior decorator, part closet organizer, and part magician, they offer advice on upping the value of your home by sprucing up your interiors—all without any major renovations or shelling out of major cash. Basically, a home stager's job is to maximize your space, making rooms appear larger and feel more inviting (and desirable) with just a few clever design tweaks.

Intrigued by the idea of this home-makeover magic, we tracked down Donna M. Dazzo, president of Designed To Appeal, a New York-based home staging company, to share her tried-and-true tips for capitalizing on the worth of your house. “With things the way they are, the name of the game is to get your house sold, and sold quickly,” Dazzo says, before outlining her essential tricks to do just that:

Depersonalize. Hide anything—family photos, awards, trophies, your collection of antique teacups—that might interfere with a buyer feeling like your home could be theirs. People get really distracted when they’re surrounded by someone else’s personal stuff. Make your bathroom look like a hotel’s: no one wants to see your soggy loofah and half used bar of soap. Put all your beauty products in a shower caddy, so they can easily be stowed under the sink when you have a showing.

De-clutter. Most people have too much stuff, whether it’s tchochkes or paperwork or furniture. The goal is to create a sense of space in a room—and in all your closets. Fight the urge to shove all your stuff in your closets, since you have to be prepared for prospective buyers to open every last cabinet. An organized closet can send the message that as an owner, you’re the kind of person who doesn’t slack on any aspect (a leaky roof, a busted water heater) of maintaining your home.

Clean. Clean. Clean. No one wants to walk into a dirty house. Bathrooms and kitchens in particular should be sparkling. Don’t just do a surface clean—pay attention to hidden corners like the nook behind a toilet or the inside of your refrigerator. You never know where people are going to look. Use Febreze or reed diffusers to remove any odors, and invite a neighbor over to make sure there are no leftover scents, since living there may make you immune to the smell. Only about a third of Americans live with pets, so to be sure you’re not alienating the other two thirds of the population, remove all traces (leashes, litter boxes, dog beds) of animals.

Lighten and Brighten. You want to have as much light as possible filtering through your space. Start by cleaning the windows. Ditch the screens, which just add one more darkening layer. During an open house, make sure your shades are up. Check to see if all your bulbs are working, and replace low-watt bulbs with high-watt ones to ensure the place feels bright.

Paint. Walls are the bones of your home, and it’s super important to make sure they look fresh. Painting is relatively inexpensive if you do it yourself, and can have a huge impact on the way a place looks. Avoid non-neutral colors like red, purple, or loud yellow, since they won’t appeal to the majority of people. White can feel stark and cold, which doesn’t do anything to add to the appeal of a room. Try warm beige tones instead like Benjamin Moore’s Rich Cream or Natural Wicker.

Would you like a complimentary brochure on staging your home to sell?  Email - [email protected] and we’ll get one to you straight away!    

For answers to your real estate questions, call Allison at 970-468-6800. Email - [email protected]. Allison is a long time local in Summit County. Summit Real Estate – The Simson/Nenninger Team is located at the Dillon Ridge Marketplace. Allison’s long-time residency and years of real estate experience can help you make the most of any buying or selling situation. She’s a Certified Residential Specialist (CRS), the highest designation awarded to a Realtor in the residential sales field.  Her philosophy is simple, whether buying or selling, she understands that the most important real estate transaction is yours.  Want to know the value of your Summit County property? Visit www.SummitHomeValue.com   

5 Mistakes to Avoid When Selling Your Summit County Home

by Allison Simson

5 Mistakes to Avoid When Selling Your Summit County Home

Selling your Summit County, Colorado home should be a smooth and -with any luck at all- a profitable transaction. But it could end up being an unsuccessful, draining experience, especially if the appropriate precautions and preparations are not observed. A majority of the time, the chance for success lies within the hands of the hired real estate expert. In order to guarantee optimal results, the sellers must be willing to cooperate and consider the professional advice of their real estate agent. Agonizing over a listing price, making the property presentable, rushing for last minute showings, answering inconvenient calls, and frazzling thoughts of not being able to sell are all stressful components of selling your Summit County home. If you and your home are not properly prepared there is a great risk of losing thousands of dollars in an unsuccessful transaction.  Here are five of the most common, costly mistakes homeowners can easily avoid when selling their property here in the mountains:

1. Do not believe all real estate professionals are the same, choose wisely

The process of selling your home involves many tedious details and critical decisions. Real estate professionals are experts in handling these situations and offering knowledgeable guidance to sellers. It is crucial to research several professionals in order to find a suitable match with experience selling homes similar to yours. Real estate agents use different methods to sell their listings. Innovative professionals who promote listings with newer techniques to attract buyers are always more successful than professionals relying on traditional strategies. 24-7 advertising, excessive exposure and lead generation are important services agents offer to aid in selling your home. Hiring and utilizing the right real estate professional can significantly maximize the chances for a smooth, profitable transaction.

2. Effects of ignoring cosmetic upkeep

The potential buyer’s first impression of your property is crucial. Dirty dishes piled in the sink, unkempt lawns and front entry areas, cluttered rooms, stained carpets, scattered soiled laundry, and any offensive odors may seem like little things, but they are big turn-offs to prospective buyers. Ignoring cosmetic upkeep leads to loosing home sales. It also never hurts to hire a staging company to assist in making the home more appealing to buyers.

3. Refusing to make repairs

Another major cause in loosing home sales is the seller’s refusal to make necessary repairs. In the long run, it is not beneficial to sell “as is”. Instead, making needed repairs or improvements will increase the home’s value. A real estate agent can decide what repairs will boost the home’s value.

4. Picking a price that is too high or too low

When properties get priced too high they tend to sit on the market and eventually develop a label of a problem property. When priced too low a home could fly off the market, allowing the buyer to get a great deal and the seller with lost potential profits. Listing the home at the appropriate price could make or break a successful sale. Real estate professionals use their market knowledge and special tactics to appropriately price the property and ensure a timely and profitable sale.

5. Making things convenient for prospective buyers

Providing easy access to the property for showings is the key to finding the right buyer. Appointment-only showings take away from the buyer’s convenience because a specific time has to be set to fit the schedules of multiple people. Using a lock box is the best way to provide easy access for showings. You are less likely to miss out on a sale when buyers are never denied a chance to view the property.

 For answers to your real estate questions, call Allison at 970-468-6800. Email - [email protected]. Want to know the value of your Summit County property? Visit www.SummitHomeValue.com   

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Photo of Summit Real Estate Real Estate
Summit Real Estate
The Bright Choice
330 Dillon Ridge Way, Suite 10
Dillon CO 80435
970-468-6800
800-262-8442
Fax: 970-468-2195

Allison Simson, Owner/Broker, is a licensed Colorado Real Estate Broker